Common Sense on Mutual Funds

by Bogle, John C.; Swensen, David F.

• ISBN13: 9780470138137
• ISBN10: 0470138130
• Edition: 2nd
• Format: Hardcover
• Copyright: 2009-12-02
• Publisher: Wiley

Summary

John C. Bogle shares his extensive insights on investing in mutual funds. Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way through the staggering array of investment alternatives that are available to them. Written in a straightforward and accessible style, this reliable resource examines the fundamentals of mutual fund investing in today's turbulent market environment and offers timeless advice in building an investment portfolio. Along the way, Bogle shows you how simplicity and common sense invariably trump costly complexity, and how a low cost, broadly diversified portfolio is virtually assured of outperforming the vast majority of Wall Street professionals over the long-term. Written by respected mutual fund industry legend John C. Bogle * Discusses the timeless fundamentals of investing that apply in any type of market * Reflects on the structural and regulatory changes in the mutual fund industry. Other titles by Bogle: The Little Book of Common Sense Investing and Enough. Securing your financial future has never seemed more difficult, but you'll be a better investor for having read the Second Edition of Common Sense on Mutual Funds.

Author Biography

John C. Bogle is founder of the Vanguard Mutual Fund Group and President of its Bogle Financial Markets Research Center. He created Vanguard in 1974 and served as chairman and chief executive officer until 1996 and senior chairman until 2000. In 1999, Fortune magazine named Mr. Bogle as one of the four "Investment Giants" of the twentieth century; in 2004, Time named him one of the world's 100 most powerful and influential people; and Institutional Investor presented him with its Lifetime Achievement Award. Bogle is also the author of Enough. and The Little Book of Common Sense Investing, both published by Wiley.

Table of Contents

Foreword for the 10th Anniversary Edition	p. ix
Foreword for the Original Edition	p. xiii
Preface to the 10th Anniversary Edition	p. xv
Preface to the Original Edition	p. xix
Acknowledgments for the 10th Anniversary Edition	p. xxvii
Acknowledgments for the Original Edition	p. xxix
About the Author	p. xxxi
On Investment Strategy	p. 1
On Long-Term Investing	p. 3
Chance and the Garden
On the Nature of Returns	p. 45
Occam's Razor
On Asset Allocation	p. 77
The Riddle of Performance Attribution
On Simplicity	p. 109
How to Come Down to Where You Ought to Be
On Investment Choices	p. 143
On Indexing	p. 145
The Triumph of Experience over Hope
On Equity Styles	p. 191
Tick-Tack-Toe
On Bonds	p. 217
Treadmill to Oblivion?
On Global Investing	p. 251
Acres of Diamonds
On Selecting Superior Funds	p. 277
The Search for the Holy Grail
On Investment Performance	p. 303
On Reversion to the Mean	p. 305
Sir Isaac Newton's Revenge on Wall Street
On Investment Relativism	p. 329
Happiness or Misery?
On Asset Size	p. 347
Nothing Fails Like Success
On Taxes	p. 373
The Message of the Parallax
On Time	p. 401
The Fourth Dimension-Magic or Tyranny?
On fund Management	p. 423
On Principles	p. 425
Important Principles Must Be Inflexible
On Marketing	p. 445
The Message Is the Medium
On Technology	p. 465
To What Avail?
On Directors	p. 483
Serving Two Masters
On Structure	p. 503
The Strategic Imperative
On Spirit	p. 533
On Entrepreneurship	p. 535
The Joy of Creating
On Leadership	p. 549
A Sense of Purpose
On Human Beings	p. 567
Clients and Crew
Afterword	p. 585
Some Thoughts about the Current Stock Market as 2010 Begins	p. 591
Some Thoughts about the Current Stock Market as 1999 Begins	p. 599
Notes	p. 607
Index	p. 615
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