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Bogle on Mutual Funds: New Perspectives for the Intelligent Investor Paperback – Oct 4 1994


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Product Details

  • Paperback: 352 pages
  • Publisher: Dell; Reprint edition (Oct. 4 1994)
  • Language: English
  • ISBN-10: 0440506824
  • ISBN-13: 978-0440506829
  • Product Dimensions: 15.2 x 1.8 x 22.9 cm
  • Shipping Weight: 136 g
  • Average Customer Review: 4.7 out of 5 stars  See all reviews (21 customer reviews)
  • Amazon Bestsellers Rank: #886,856 in Books (See Top 100 in Books)
  • See Complete Table of Contents

Product Description

From Publishers Weekly

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. --This text refers to an out of print or unavailable edition of this title.

From Library Journal

Bogle, chairman and CEO of the $110 billion Vanguard Group of mutual funds, thoroughly discusses the risks and rewards of investing in mutual funds. He explains how to select among the four basic categories of funds: common stock, bond, money market, and balanced. He argues convincingly that a passively managed "index fund" costs less and is more reliable than a fund managed by someone making weighted bets on individual securities, sectors, and the economy. This message is similar to that found in Burton Malkiel's classic The Random Walk Down Wall Street ( LJ 6/1/90). Bogle, long the mutual fund industry's loudest critic, denounces its misleading advertising, mediocre performance, and selfishness. Sprinkled throughout the text are "caveat emptor" boxes that warn readers of the hidden pitfalls of mutual fund investing. Strongly recommended for public library collections.
- Robert Kruthoffer, Lane P.L., Hamilton, Ohio
Copyright 1993 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

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Customer Reviews

4.7 out of 5 stars
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Most helpful customer reviews

Format: Paperback
This "Definitive Book on Mutual Funds" demonstrates effectively with facts and statistics that common stocks are hugely superior to long-term bonds and cash reserves. (I personally think income-producing real estate is superior to common stocks, but there are no national statistics to prove that.)
How should we invest in common stocks? Mr. Bogle has the answer for most of us, it is indexed mutual funds (S&P 500, Russell 2000, etc.). This book should be reread if you start getting impatient and begin to feel that your stock-picking ability is superior to the stock market indices.
How readers will feel about Mr. Bogle's book, say, 10 to 20 years from now, depends upon what happens to the stock market in the future. If the stock market has a disastrous crash (index funds do not provide immunity from crashes) along the way, and 15 years from now it is, say, at 10,000, people will say, "Boy, was I stupid to believe Mr. Bogle, and put so much into the stock market."
The bottom line advice of this excellent book is that the stock market is a good bet, so obviously if the market does not cooperate, the credibility of this scholarly work will suffer. 20/20 hindsight will condemn even the best books. I am betting all my stock market investments, mostly indexed mutual funds (most of my money, however, is in real estate), that there won't be a disaster and the market will be significantly higher. The history that Mr. Bogle provides in this book shows that this is a reasonable bet.
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Format: Hardcover
Mr. Bogle's years of experience, outlook on investing and emphasis on how the Mutual Fund industry has forgotten it's purpose proved extremely insightful. His genuine concern for the individual investor is clearly evidident, especially with regard to the impact Fund Cost's and Fee's have on actual (after-tax) returns. He re-emphasises over and over throughout the book how the Mutual Fund industry has become more of a marketing process, with the winners being the fund managers and the losers being the individual investors. Money spent on advertising and marketing, which has proven to provide no increase on returns, is money lost by investors with no tangible value. His ability to clearly convey the proven concept of how Index Funds, with minimal fund turn-over, low cost management fee's and an objective of meeting as opposed to beating the market has made me a true believer in Indexing.
I would sincerly like to thank Mr. Bogle for committing himself and his life to investing excellence, he is truly the "VanGuard" for the individual investor!
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By A Customer on July 9 2003
Format: Paperback
This is the single best investment book I've ever read and used. Bogle is accessible, thorough, and helpful. His general advice has been known to Vanguard investors for quite some time and the Vanguard "philosophy" has helped me build a nice retirement nest egg over the last 20 years. You can do it too without fearing the ups and downs of the market.
This book is a gem with many facets. It explains the various investment markets; it describes the different types of mutual funds (bond, stock, balanced, money market, etc.); it tells you how to understand and evaluate risk; and it gives advice on how to construct an investment program for whatever purpose you may have in mind (college tuition, retirement, to preserve and enlarge an inheritance). Bogle also gives advice on how much risk is prudent for different investment time "horizons".
I bought this book when it first came out and have re-read it several times to make sure I'm on track. For the average investor, this is a classic.
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By C Jones on April 8 2001
Format: Paperback
For almost a decade now, this has been my bible on mutual funds. Using a straightforward and candid approach, Vanguard founder John Bogle explains every aspect of mutual funds and the industry behind them. Never does Bogle exaggerate information or mislead the reader as many other financial "guru's" do to sell their books. He is a true consumer advocate and his goal is clearly to educate.
Covered is everything from stocks, bonds, money market funds, indexing, asset allocation, expense ratio's and the risks inherent not only in investing but in not investing (e.g. the erosion of the dollar vs. inflation in "safe" investments). Bogle utilizes numerous graphs and statistical data throughout the book to help make his point and to allow the reader increased comprehension.
It is important to note that this book was published in the early 1990's. Since then capital gains tax laws have changed and the Roth IRA was yet to be created. For more up-to-date information I would recommend reading Bogle's newer book, Common Sense on Mutual Funds. Nevertheless, Bogle On Mutal Funds is a great place to start educating yourself to become more financially savvy. This book has been invaluable to me and I believe it is key to my investing success. I find myself often referring to it, expecially now in these turbulent market times just to hear Mr. Bogle remind me to, "stay the course" and I will be rewarded. No wonder so many admirers refer to the beloved Mr. Bogle as, "Saint Jack."
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