Most Popular Books by John C. Bogle

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.

A journey through the Index Revolution from the man who started it all Stay the Course is the story the Vanguard Group as told by its founder, legendary investor John C. Bogle. This engrossing book traces the history of Vanguard—the largest mutual fund organization on earth. Offering the world’s first index mutual fund in 1976, John Bogle led Vanguard from a $1.4 billion firm with a staff of 28 to a global company of 16,000 employees and with more than $5 trillion in assets under management. An engaging blend of company history, investment perspective, and personal memoir, this book provides a fascinating look into the mind of an extraordinary man and the company he created. John Bogle continues to be an inspiring and trusted figure to millions of individual investors the world over. His creative innovation, personal integrity, and stubborn determination infuse every aspect of the company he founded. This accessible and engaging book will help you: Explore the history of some of Vanguard’s most important mutual funds, including First Index Investment Trust, Wellington Fund, and Windsor Fund Understand how the Vanguard Group gave rise to the Index Revolution and transformed the lives of millions of individual investors Gain insight on John Bogle’s views on values such as perseverance, caring, commitment, integrity, and fairness Investigate a wide range of investing topics through the lens of one of the most prominent figures in the history of modern finance The Vanguard Group and John Bogle are inextricably linked—it would be impossible to tell one story without the other. Stay the Course: The Story of Vanguard and the Index Revolution weaves these stories together taking you on a journey through the history of one revolutionary company and one remarkable man. Investors, wealth managers, financial advisors, business leaders, and those who enjoy a good story, will find this book as informative and unique as its author.

John Bogle puts our obsession with financial success in perspective Throughout his legendary career, John C. Bogle-founder of the Vanguard Mutual Fund Group and creator of the first index mutual fund-has helped investors build wealth the right way and led a tireless campaign to restore common sense to the investment world. Along the way, he''s seen how destructive an obsession with financial success can be. Now, with Enough., he puts this dilemma in perspective. Inspired in large measure by the hundreds of lectures Bogle has delivered to professional groups and college students in recent years, Enough. seeks, paraphrasing Kurt Vonnegut, "to poison our minds with a little humanity." Page by page, Bogle thoughtfully considers what "enough" actually means as it relates to money, business, and life. Reveals Bogle''s unparalleled insights on money and what we should consider as the true treasures in our lives Details the values we should emulate in our business and professional callings Contains thought-provoking life lessons regarding our individual roles in society Written in a straightforward and accessible style, this unique book examines what it truly means to have "enough" in world increasingly focused on status and score-keeping.

Get fifty years of industry-defining expertise in a single volume John Bogle on Investing is a compilation of the best speeches ever delivered by one of the 20th century''s towering financial giants. Individually, each of these speeches delivers a powerful lesson in investing; taken together, Bogle''s lifelong themes ring loud and clear. His investing philosophy has remained more or less constant throughout his illustrious career, and this book lays it out so you can learn from the very best. You''ll learn what makes a successful investment strategy, consider the productive economics of long-term investing, and how emotional investment in financial markets is often counterproductive enough to forfeit success. Bogle discusses the "fiscal drag" of investing, and shows you how to cut down on sales charges, management fees, turnover costs, and opportunity costs, as he unravels a lifetime''s worth of expertise to give you deep insight into the mind of a master at work. John C. Bogle founded Vanguard in 1974, then in the space of a few years, introduced the index mutual fund, pioneered the no-load mutual fund, and redefined bond fund management. This book wraps up the essence of his half-century of knowledge to deepen your understanding and enhance your investment success. Learn why simple strategies are best Discover how emotions can ruin the best investment plan Examine the universality of indexing in the financial markets Minimize the costs — financial and otherwise — associated with investing John Bogle is still in there fighting, still pushing the industry onward and upward. Take this rare opportunity to have industry-shaping expertise at your fingertips with John Bogle on Investing.

The seminal work on mutual funds investing is now a Wiley Investment Classic Certain books have redefined the way we view the world of finance and investing—books that should be on every investor’s shelf. Bogle On Mutual Funds—the definitive work on mutual fund investing by one of finance’s great luminaries—is just such a work, and has been added to the catalog of Wiley’s Investment Classic collection. Updated with a new introduction by expert John Bogle, this comprehensive book provides investors with the wisdom of the pioneer of mutual funds to help you identify and execute the ideal mutual fund investment choices for your portfolio. The former Vanguard Chief Executive, Bogle has long been mutual funds'' most outspoken critic; in this classic book, he provides guidance on what you should and shouldn''t believe when it comes to mutual funds, along with the story of persistence and perseverance that led to this seminal work. You''ll learn the differences between common stock, bond, money market, and balanced funds, and why a passively managed "index" fund is a smarter investment than a fund managed by someone making weighted bets on individual securities, sectors, and the economy. Bogle reveals the truth behind the advertising, the mediocre performance, and selfishness, and highlights the common mistakes many investors make. Consider the risks and rewards of investing in mutual funds Learn how to choose between the four basic types of funds Choose the lower-cost, more reliable investment structure See through misleading advertising, and watch out for pitfalls Take a look into this timeless classic and let Bogle On Mutual Funds show you how to invest in mutual funds the right way, with the expert perspective of an industry leader.

Recommended Reading by Warren Buffet in his March 2013 Letter to Shareholders How speculation has come to dominate investment—a hard-hitting look from the creator of the first index fund. Over the course of his sixty-year career in the mutual fund industry, Vanguard Group founder John C. Bogle has witnessed a massive shift in the culture of the financial sector. The prudent, value-adding culture of long-term investment has been crowded out by an aggressive, value-destroying culture of short-term speculation. Mr. Bogle has not been merely an eye-witness to these changes, but one of the financial sector’s most active participants. In The Clash of the Cultures, he urges a return to the common sense principles of long-term investing. Provocative and refreshingly candid, this book discusses Mr. Bogle''s views on the changing culture in the mutual fund industry, how speculation has invaded our national retirement system, the failure of our institutional money managers to effectively participate in corporate governance, and the need for a federal standard of fiduciary duty. Mr. Bogle recounts the history of the index mutual fund, how he created it, and how exchange-traded index funds have altered its original concept of long-term investing. He also presents a first-hand history of Wellington Fund, a real-world case study on the success of investment and the failure of speculation. The book concludes with ten simple rules that will help investors meet their financial goals. Here, he presents a common sense strategy that "may not be the best strategy ever devised. But the number of strategies that are worse is infinite." The Clash of the Cultures: Investment vs. Speculation completes the trilogy of best-selling books, beginning with Bogle on Investing: The First 50 Years (2001) and Don''t Count on It! (2011)

The best-selling investing "bible" offers new information, new insights, and new perspectives The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500. While the stock market has tumbled and then soared since the first edition of Little Book of Common Sense was published in April 2007, Bogle’s investment principles have endured and served investors well. This tenth anniversary edition includes updated data and new information but maintains the same long-term perspective as in its predecessor. Bogle has also added two new chapters designed to provide further guidance to investors: one on asset allocation, the other on retirement investing. A portfolio focused on index funds is the only investment that effectively guarantees your fair share of stock market returns. This strategy is favored by Warren Buffett, who said this about Bogle: “If a statue is ever erected to honor the person who has done the most for American investors, the hands-down choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. . . . Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me.” Bogle shows you how to make index investing work for you and help you achieve your financial goals, and finds support from some of the world''s best financial minds: not only Warren Buffett, but Benjamin Graham, Paul Samuelson, Burton Malkiel, Yale’s David Swensen, Cliff Asness of AQR, and many others. This new edition of The Little Book of Common Sense Investing offers you the same solid strategy as its predecessor for building your financial future. Build a broadly diversified, low-cost portfolio without the risks of individual stocks, manager selection, or sector rotation. Forget the fads and marketing hype, and focus on what works in the real world. Understand that stock returns are generated by three sources (dividend yield, earnings growth, and change in market valuation) in order to establish rational expectations for stock returns over the coming decade. Recognize that in the long run, business reality trumps market expectations. Learn how to harness the magic of compounding returns while avoiding the tyranny of compounding costs. While index investing allows you to sit back and let the market do the work for you, too many investors trade frantically, turning a winner’s game into a loser’s game. The Little Book of Common Sense Investing is a solid guidebook to your financial future.

How John Bogle built Vanguard and transformed the investment worldin his own words Jack Bogle remains one of the titans of the investment world and a hero to the independent investor, as renowned for his influence as he is respected for his accomplishments. Character Counts is the story of how Vanguard was born, why it has flourished, and what leadership principles and management practices fostered its development. Covering the period 19742001, the story is told through the dozens of potent and memorable speeches he has given to Vanguard crew members over the years, interspersed with a narrative that provides context and explanation. This "you are there" approach provides new insights into one of the world''s most important financial institutionsand into the mutual fund industry itself. Character Counts paints an indelible portrait of the man Fortune named one of the "four giants of finance" of the 20th century.

The founder and former chief executive of the Vanguard mutual funds argues for a return to a governance structure in which owners'' capital that has been put at risk is used in their interests rather than in the interests of corporate and financial managers.

John Bogle''s most influential investment books, available together for the first time John C. Bogle, the founder of Vanguard, a trillion-dollar investment management company, is one of the most respected authors in the financial world. Now, for the first time, The John C. Bogle Reader brings together three of his bestselling books in one definitive collection. Don''t Count on It presents Bogle''s unique insights into the world of mutual fund investing and the mutual fund industry Common Sense on Mutual Funds addresses how the mutual fund industry has changed over the past twenty years, and how best to arrange and manage funds in today''s world The Little Book of Common Sense Investing recommends a simple, time-tested investment strategy sure to deliver the greatest return to the greatest number of investors Essential reading for investors everywhere, The John C. Bogle Reader brings together the life-changing works of mutual fund pioneer John Bogle in one comprehensive anthology.

Praise for Don''t Count On It! "This collection of Jack Bogle''s writings couldn''t be more timely. The clarity of his thinking—and his insistence on the relevance of ethical standards—are totally relevant as we strive to rebuild a broken financial system. For too many years, his strong voice has been lost amid the cacophony of competing self-interests, misdirected complexity, and unbounded greed. Read, learn, and support Jack''s mission to reform the industry that has been his life''s work." —PAUL VOLCKER, Chairman of the President''s Economic Recovery Advisory Board and former Chairman of the Federal Reserve (1979–1987) "Jack Bogle has given investors throughout the world more wisdom and plain financial ''horse sense'' than any person in the history of markets. This compendium of his best writings, particularly his post-crisis guidance, is absolutely essential reading for investors and those who care about the future of our society." —ARTHUR LEVITT, former Chairman, U.S. Securities and Exchange Commission "Jack Bogle is one of the most lucid men in finance." —NASSIM N.TALEB, PhD, author of The Black Swan "Jack Bogle is one of the financial wise men whose experience spans the post–World War II years. This book, encompassing his insights on financial behavior, pitfalls, and remedies, with a special focus on mutual funds, is an essential read. We can only benefit from his observations." —HENRY KAUFMAN, President, Henry Kaufman & Company, Inc. "It was not an easy sell. The joke at first was that only finance professors invested in Vanguard''s original index fund. But what a triumph it has been. And what a focused and passionate drive it took: it is a zero-sum game and only costs are certain. Thank you, Jack." —JEREMY GRANTHAM, Cofounder and Chairman, GMO "On finance, Jack Bogle thinks unconventionally. So, this sound rebel turns out to be right most of the time. Meanwhile, many of us sometimes engage in self-deception. So, this book will set us straight. And in the last few pages, Jack writes, and I agree, that Peter Bernstein was a giant. So is Jack Bogle." —JEAN-MARIE EVEILLARD, Senior Adviser, First Eagle Investment Management Insights into investing and leadership from the founder of The Vanguard Group Throughout his legendary career, John Bogle-founder of the Vanguard mutual fund group and creator of the first index mutual fund-has helped investors build wealth the right way, while, at the same time, leading a tireless campaign to restore common sense to the investment world. A collection of essays based on speeches delivered to professional groups and college students in recent years, in Don''t Count on It is organized around eight themes Illusion versus reality in investing Indexing to market returns Failures of capitalism The flawed structure of the mutual fund industry The spirit of entrepreneurship What is enough in business, and in life Advice to America''s future leaders The unforgettable characters who have shaped his career Widely acclaimed for his role as the conscience of the mutual fund industry and a relentless advocate for individual investors, in Don''t Count on It, Bogle continues to inspire, while pushing the mutual fund industry to measure up to their promise.

Conquering the obession with short-term profits is critical to the future of business, society, and capitalism itself—Alfred Rappaport presents a game plan every business leader should read “As Rappaport keeps on speaking out for the realities surrounding investment and speculation, our society will profit as it builds on his keen insights.” John C. Bogle, founder of The Vanguard Group (from the Foreword) About the Book: Alfred Rappaport, who first introduced the principles and practical application of "shareholder value" in his groundbreaking 1986 classic Creating Shareholder Value, reiterated the basic message in his 2006 Harvard Business Review article: Focusing on Wall Street quarterly earnings expectations rather than on creating long-term value is an invitation to disaster. Rappaport shows how deeply flawed short-term performance incentives for corporate and investment managers were an essential cause of the recent global financial crisis. In Saving Capitalism from Short-Termism, Rappaport examines the causes and consequences of “short-termism” and offers specific recommendations for how publicly traded companies and the investment management community can overcome it. Whether you''re a corporate manager, money manager, public policymaker, business-school student, or simply concerned about your financial future, Saving Capitalism from Short-Termism provides valuable insights and practical ideas to change the course of your organization—and contribute to a healthier economy that benefits all.

Paul Cabot (1898–1994) was an innovative mutual fund manager and executive known for his strong character, charismatic personality, and trendsetting financial achievements. Iconoclastic and rebellious, Cabot broke free from the Boston Brahmin trustee mold to pursue new ways of investing and serving investment clients. Cabot founded one of the first mutual funds—State Street Investment Corporation—in the early 1920s, campaigned against the corrupt practices of certain other funds in the late 1920s, and lobbied on behalf of key New Deal securities legislation in the 1930s. As Harvard University treasurer, he increased the allocation of the endowment to equities just in time for the bull market of the 1950s, and as a corporate director in the 1960s he campaigned against conglomerates'' abusive takeover strategies. Having spent nearly two decades working for Cabot''s company, State Street Research & Management, as an analyst, research director, portfolio manager, and chief investment officer, Michael R. Yogg is well positioned to share the secrets behind Cabot''s extraordinary success and relate the life of an extraordinary man. Cabot pioneered the use of fundamental stock analysis and was likely the first to take up the progressive practice of interviewing company managements. His accomplishments all stemmed from his passion for facts, finance, and creative thinking, as well as his unbreakable will, facets Yogg illuminates through privileged access to Cabot''s papers and a wealth of interviews.

Wellington Management Company traces its roots to the 1929 founding of the Wellington Fund (now Vanguard Wellington Fund), the nation''s first balanced mutual fund group.

“Spend! Spend! Spend! Where Did Tyco’s Money Go?” by James B. Stewart, fromThe New Yorker “The Decline and Fall of the Cult of Equity” by Andrew Hill, from theFinancial Times “The Death of One American Dream” by Shirleen Holt, fromThe Seattle Times “Shattered Dynasty” by Suzanna Andrews, fromVanity Fair “For Richer” by Paul Krugman, fromThe New York Times Magazine “In Defense of the Boom” by Michael Lewis, fromThe New York Times Magazine “The Telecom Boom’s Dark Remnants” by Michael Guillen, fromThe Oregonian “Rich Man, Poor Company” by Chris O’Brien and Jack Davis, from theSan Jose Mercury News “Deciding on Executive Pay: Lack of Independence Seen” by Diana B. Henriques and Geraldine Fabrikant, fromThe New York Times “How It All Fell Apart” by Johnnie L. Roberts, fromNewsweek “Planet Starbucks” by Stanley Holmes, Drake Bennett, Kate Carlisle, and Chester Dawson, fromBusinessWeek “The Google Gods” by Stefanie Olsen, from CNET News.com “Up Against Wal-Mart” by Karen Olsson, fromMother Jones “Is Our Children Learning?” by Julie Landry, fromRed Herring “The Investigation: How Eliot Spitzer Humbled Wall Street” by John Cassidy, fromThe New Yorker “Inside the Rock” by Loch Adamson, fromWorth “Unfair Disclosure” by Bob Drummond, fromBloomberg Markets “Inside McKinsey” by John A. Byrne, fromBusinessWeek “Alliance Capital’s Bad Bets” by Edward Robinson, fromBloomberg Markets “Where the Money’s Really Made” by Andy Serwer, fromFortune “The Economics of Empire” by William Finnegan, fromHarper’s Magazine “The Debt Bomb” by Jonathan R. Laing, fromBarron’s “Big Bucks, Small Town, Bond Haven” by Noelle Haner-Dorr, fromOrlando Business Journal “Flight into the Red” by Steve Huettel, from theSt. Petersburg Times “Full Price: A Young Woman, an Appendectomy, and a $19,000 Debt” by Lucette Lagnado, fromThe Wall Street Journal “The Fall of Andersen” by Delroy Alexander, Greg Burns, Robert Manor, Flynn McRoberts and E. A. Torriero, from theChicago Tribune “Why Good Accountants Do Bad Audits” by Max H. Bazerman, George Loewenstein and Don A. Moore, fromHarvard Business Review “Troubling Options—Inside the Tough Call at Sprint” by Rebecca Blumenstein and Carol Hymowitz, fromThe Wall Street Journal “Wild, Wild Qwest” by Lou Kilzer, David Milstead, and Jeff Smith, from theRocky Mountain News “The New Face of Shoplifting” by Joanne Kimberlin, fromThe Virginian-Pilot “The Year the Music Dies” by Charles C. Mann, fromWired “Big Battle for a Silly Old Bear: Who Owns the Honey Pot?” by Meg James, from theLos Angeles Times “The Monopolist” by Connie Bruck, fromThe New Yorker “From Heroes to Goats . . . and Back Ag

Two Bogle Investment Classics in One Elegant Boxed Set John C. Bogle founded Vanguard in 1974, then in the space of a few years, introduced the index mutual fund, pioneered the no-load mutual fund, and redefined bond fund management. This boxed set includes John Bogle on Investing and Bogle on Mutual Funds, now regarded as timeless investment classics, like Bogle himself. Warren Buffett has called him an “American hero” for his contributions to the investment success of ordinary investors. John Bogle on Investing wraps up the essence of his half-century of knowledge to deepen your understanding and enhance your investment success. Bogle’s investing philosophy has remained more or less constant throughout his illustrious career, and this book lays it out so you can learn from the very best. You''ll learn what makes a successful investment strategy, consider the productive economics of long-term investing, and how emotional investment in financial markets is often counterproductive enough to forfeit success. Bogle discusses the "fiscal drag" of investing, and shows you how to cut down on sales charges, management fees, turnover costs, and opportunity costs, as he unravels a lifetime''s worth of expertise to give you deep insight into the mind of a master at work. Certain books have redefined the way we view the world of finance and investing—books that should be on every investor’s shelf. Bogle On Mutual Funds is just such a work. Updated with a new introduction, this comprehensive book provides investors with the wisdom of the pioneer of mutual funds to help you identify and execute the ideal mutual fund investment choices for your portfolio. You''ll learn the differences between common stock, bond, money market, and balanced funds, and why a passively managed "index" fund is a smarter investment than a fund managed by someone making weighted bets on individual securities, sectors, and the economy.

getAbstract Summary: Get the key points from this book in less than 10 minutes.getAbstract.com believes that this classic work by one of the twentieth century''s great investment authorities belongs on every investor''s bookshelf. Published in 1999, at the height of a notorious stock market bubble, it was a rare, sage, clear-eyed appraisal of investment reality. It remains relevant. Author John C. Bogle argues so strenuously for a low-cost, passive investment approach based on index funds that you could almost accuse him of marketing hype. After all, he did start Vanguard, an investment company best known for its low-cost index funds. However, the evidence he presents to back up everything he says exonerates him fully. Today''s investors are not quite as eager as investors were in the 1990s to believe in the impossible dream of infinite wealth from the stock market. Still, many people waste their time and money trying to beat a market that the best financial research unequivocally shows is, for most people and over the long run, unbeatable. Bogle explains why, while recommending much-needed reform of the mutual fund industry.Book Publisher:Wiley

Documents the life and ambitions of one of the world''s most unique entrepreneurs, business leaders and advocates for the individual investor and presents the insights, visions and philosophies that have guided him through his extraordinary career.

Remarks of the Founder and former Chief Executive of The Vanguard Group on receiving the 2005 Outstanding Financial Executive Award from Financial Management Associates International (FMA) Chicago, IL, October 15, 2005.

The mutual fund industry has undergone tremendous change in the past 60 years. Total assets, number of funds, and fund costs have increased exponentially, whereas both the duration of the funds'' portfolio holdings and the duration of their shareholders'' holdings have tumbled. The industry''s ownership of corporate stocks is at an all-time high, yet mutual fund managers have been noticeably absent from the corporate governance debate. This article details 10 fundamental changes that have taken place in the mutual fund industry since 1945 and finds that, in the aggregate, they have benefited mutual fund managers to the direct and commensurate detriment of mutual fund investors.

The message of this article is simple, obvious, and almost invariably ignored by the investment community: Gross return in the financial markets minus the costs of financial intermediation equals the net return actually delivered to investors. This equation helps explain the failure of the mutual fund industry to deliver to shareholders their fair share of market returns, and it explains the enormous shortfall in the assets of the private and public retirement systems relative to their pension liabilities. It is high time for investment professionals to consider not only the comparative advantage of outmanaging their peers but also the community advantage that would result from a major reduction in the costs of our investment system.

This paper is based on the author''s comments at the Columbia University Symposium on Bebchuk and Fried''s quot;Pay without Performance: The Unfulfilled Promise of Executive Compensation.quot; The paper offers the author''s perspective on the book and the problems of executive compensation it discusses.

Investors need to be aware that rare events with an extreme impact that, afterwards, we think we could have predicted - in short, black swans - happen in the markets. Those who are trying to measure risk in the financial markets need to carefully distinguish risk, with its probabilities, from uncertainty, which cannot be measured. We have become increasingly vulnerable to black swans because our financial economy has come to play an ever-larger role in our productive economy.

This article is a condensed version of a lecture presented February 2008 at the 27th Annual Manuel F. Cohen Memorial Lecture at the George Washington University Law School in the United States.