Bogle On Mutual Funds New Perspectives for the Intelligent Investor

Bogle On Mutual Funds New Perspectives for the Intelligent Investor

In this awesome overview of investment company products and services, Bogle, founder and CEO of the $110-billion Vanguard group of funds, demonstrates that “the abundance of information available about mutual funds is . . . overwhelming.” Among the minute details included, Bogle tells not only how to improve your backhand, as it were, but how to get the best grass or clay for the tennis court. Fund categories past and present–index, international, income, growth, industry-specialized (electronic, health), long- and short-term bond (U.S., corporate, “junk”), along with sales charges pro and con (Vanguard has none), high-low expense ratios, management track records and tax considerations–all are dissected to the ultimate percentile in relation to investor objectives and an inconstant economic climate. There is certainly something here for everyone, but in the aggregate the author reaches beyond the needs (and possibly the comprehension) of readers not engaged in the investment business. 70,000 first printing; first serial to Money; Fortune Book Club main selecton.
Copyright 1993 Reed Business Information, Inc.

User Ratings and Reviews

5 Stars The best book on mutual funds
A classic. I kept a copy of the book until one of my junior Sailors asked me for help with some investing literature, my advise to him “this is the only book you need to read about investing.” After reading several books on the subject, I can say that this is the best book on mutual funds.

5 Stars Bogle’s the Best
Great price $01. plus shipping! This is a timeless classic for all mutual fund investors.

5 Stars An outstanding guide for investors
“There are intelligent ways to go about investing and less intelligent ways.” So says John Bogle, one of the most influential money managers of the last 50 years.

Bogle was one of the leaders in making index mutual funds available to ordinary investors. Bogle’s index funds, and others that followed his example, helped turn very, very ordinary investors into very, very rich investors. This book essentially explains why Bogle’s investment philosophy succeeds so well.

The book concentrates on the three basic types of mutual funds: stock, bond, and money market funds; describes the three important characteristics that all investments have: risk, return, and cost; explains why different categories of assets — stocks versus bonds, for example — have different risk and return characteristics; and shows how to construct an intelligent, balanced portfolio that will help you meet your investment goals.

One of the keys to Bogle’s strategy is the idea that, while investors don’t have direct control over risk or return, they do have direct control over cost; and by choosing low-cost funds (index funds are very low cost!), investors can dramatically improve their results. One of the other keys to Bogle’s strategy is the efficient market theory, which, among other things, supplies an important part of the theoretical justification for relying on passively managed index funds. Those aren’t fun, sexy concepts, and Bogle’s methodical discussions don’t do much to make them more entertaining. On the other hand, they will help you make money if you understand and apply them, and making money through investing is both fun and sexy!

This book is over ten years old now, so it doesn’t have much to say about exchange-traded funds, sector funds, or some other, recent developments in financial management, but the basic principles it describes can easily be applied to those new-fangled inventions too.

This is one of the best books I’ve ever read about investing.

5 Stars The single best book on investing!
If you’re going to read one book on investing and one book only, this is the one! Really, you won’t need any other - it’s that complete and that good. Not everybody can invest in index funds, but you can and you very probably won’t get a better result any other way.

5 Stars Ecellent book about mutual fund
One of the best books about mutual funds in the market even though it is over a decade old.

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