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Bogle On Mutual Funds
368 pages, 2015
business & management
1082 booksCertain 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.
John C. Bogle emphasizes the importance of investing in low-cost index funds. He explains that these funds often outperform more expensive, actively managed funds in the long run. So, if you're looking to invest, it's worth exploring these types of funds.
Bogle On Mutual Funds highlights the power of compounding. This is the process where your earnings generate even more earnings over time. It's like a snowball effect for your money. So, if you're patient and let your investments grow, you could see significant returns.
The book delves into the concept of market efficiency. Bogle explains that it's nearly impossible to consistently outperform the market. So, instead of trying to beat the market, he suggests investing in it through index funds. This is a key concept to understand if you're considering investing.
Bogle stresses the importance of asset allocation in your investment strategy. He suggests that how you divide your investments between different types of assets, like stocks and bonds, can have a big impact on your returns. So, take some time to research and find the right balance for you.
In Bogle On Mutual Funds, he warns against trying to time the market. It's extremely difficult to predict market movements accurately and consistently. Instead, he recommends a buy-and-hold strategy. This means investing for the long term and not reacting to short-term market fluctuations.
Quotes 3
If you want to invest in a very sensible way, Bogle's approach is the best. It's the most effective, most understandable, and carries the least risk.
Warren Buffett - Investment GuruBogle's book is a must-read for anyone who wants to understand the fundamentals of investing. It's a treasure trove of wisdom.
Paul Samuelson - Economist, AcademicBogle's insights into mutual funds are invaluable. He's the best teacher in the business.
Peter Lynch - Investment ManagementRecommendations
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