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Stay the Course
320 pages, 2018
Stay the Course is the story of the Vanguard Group, as told by its founder and 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.
In 'Stay the Course', John C. Bogle emphasizes the importance of long-term investing. He suggests that investors should resist the temptation to react to short-term market fluctuations. Instead, they should focus on their long-term financial goals. This is a key principle that can help you build wealth over time.
Bogle is a strong advocate for low-cost index funds. He argues that these funds, which aim to replicate the performance of a specific market index, are a more reliable and cost-effective option for investors than actively managed funds. This is a great tip to consider when you're planning your investment strategy.
One of the key takeaways from 'Stay the Course' is the value of simplicity in investing. Bogle suggests that a simple, straightforward investment strategy is often more effective than a complex one. So, don't be afraid to keep things simple when you're making investment decisions.
Bogle highlights the impact of fees on investment returns in 'Stay the Course'. He points out that high fees can significantly reduce your returns over time. This is a crucial point to remember when you're choosing your investments.
As the title suggests, Bogle stresses the importance of staying the course in investing. He believes that sticking to your investment plan, even during market downturns, is key to achieving long-term financial success. This is a valuable lesson for anyone looking to build wealth through investing.
Quotes 2
John Bogle has done more for American investors than any individual I've known. A lot of Wall Street is devoted to charging a lot for nothing. He charged nothing to accomplish a huge amount.
Warren Buffett - Investor, Business TycoonBogle's reasoned precepts can enable a few million of us savers to become in twenty years the envy of our suburban neighbors-while at the same time we have slept well in these eventful times.
Paul Samuelson - Economist, AcademicRecommendations
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