The Little Book of Common Sense Investing (2nd Edition) by John C Bogle

The Little Book of Common Sense Investing (2nd Edition) by John C Bogle

There are a few investment managers, of course, who are very good - though in the short run, it's difficult to determine whether a great record is due to luck or talent. Most advisors, however, are far better at generating high fees than they are at generating high returns. In truth, their core competence is salesmanship. Rather than listen to their siren songs, investors - large and small - should instead read Jack Bogle's The Little Book of Common Sense Investing. - Warren Buffett, Chairman of Berkshire Hathaway, 2014 Annual Shareholder Letter.

Investing is all about common sense. Owning a diversified portfolio of stocks and holding it for the long term is a winner's game. Trying to beat the stock market is theoretically a zero-sum game (for every winner, there must be a loser), but after the substantial costs of investing are deducted, it becomes a loser's game. Common sense tells us--and history confirms--that the simplest and most efficient investment strategy is to buy and hold all of the nation's publicly held businesses at very low cost. The classic index fund that owns this market portfolio is the only investment that guarantees you with your fair share of stock market returns.

To learn how to make index investing work for you, there's no better mentor than legendary mutual fund industry veteran John C. Bogle. Over the course of his long career, Bogle--founder of the Vanguard Group and creator of the world's first index mutual fund--has relied primarily on index investing to help Vanguard's clients build substantial wealth. Now, with The Little Book of Common Sense Investing, he wants to help you do the same.

Filled with in-depth insights and practical advice, The Little Book of Common Sense Investing will show you how to incorporate this proven investment strategy into your portfolio. It will also change the very way you think about investing. Successful investing is not easy. (It requires discipline and patience.) But it is simple. For it's all about common sense.

With The Little Book of Common Sense Investing as your guide, you'll discover how to make investing a winner's game:

• Why business reality--dividend yields and earnings growth--is more important than market expectations
• How to overcome the powerful impact of investment costs, taxes, and inflation
• How the magic of compounding returns is overwhelmed by the tyranny of compounding costs
• What expert investors and brilliant academics--from Warren Buffett and Benjamin Graham to Paul Samuelson and Burton Malkiel--have to say about index investing
• And much more

You'll also find warnings about investment fads and fashions, including the recent stampede into exchange traded funds and the rise of indexing gimmickry. The real formula for investment success is to own the entire market, while significantly minimizing the costs of financial intermediation. That's what index investing is all about. And that's what this book is all about.

JOHN C. BOGLE is the founder and former CEO of The Vanguard Group and the world's first index mutual fund. A graduate of Blair Academy and Princeton University, he has spent his entire career in the mutual fund industry--67 years (and counting).

Stay the Course is Mr. Bogle's twelfth book, a string that began with Bogle on Mutual Funds (1993). Subsequent books include: Common Sense on Mutual Funds (1999, updated 2010), The Battle for the Soul of Capitalism (2005), Enough. (2008), and The Little Book of Common Sense Investing (2007) and its 10th Anniversary Edition (2017).

A prolific writer for the investment profession, Mr. Bogle has had 28 of his papers published in the The Financial Analysts Journal and The Journal of Portfolio Management. In 1998, CFA (Chartered Financial Analysts) Institute presented Bogle with its highest homage, the Award for Professional Excellence.

For his extraordinary lifetime achievements in serving investors, Bogle has received honorary doctorate degrees from 13 universities, including Princeton, Georgetown, Delaware, Villanova, and Trinity. In 2004, TIME magazine named him as one of the world's 100 most influential people.

Despite a devastating setback in his career in 1974, and frequent serious health challenges (he received a heart transplant in 1996), John Bogle remains fully active in his career and with his family--wife Eve, six children, twelve grandchildren, and (so far) six great-grandchildren.

His advice to his family is the same as his advice to investors, entrepreneurs, and readers of this book: In good times and bad times alike, Stay the Course.

SKU	Unavailable
ISBN 13	9788126572519
ISBN 10	8126572515
Title	The Little Book of Common Sense Investing (2nd Edition)
Author	John C Bogle
Condition	Unavailable
Binding Type	Hardback
Publisher	Wiley
Year published	2018-06-12
Number of pages	0
Cover note	Book picture is for illustrative purposes only, actual binding, cover or edition may vary.