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Common Sense on Mutual Funds: 3 CD's Audio CD – Abridged, Audiobook


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Product Details

  • Audio CD
  • Publisher: Penton (June 19 2000)
  • Language: English
  • ISBN-10: 1560159529
  • ISBN-13: 978-1560159520
  • Product Dimensions: 14.6 x 12.6 x 2.5 cm
  • Shipping Weight: 191 g
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (47 customer reviews)
  • Amazon Bestsellers Rank: #2,537,364 in Books (See Top 100 in Books)
  • See Complete Table of Contents


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Investing is an act of faith. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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1 of 1 people found the following review helpful By T. G. Reese on June 29 2002
Format: Paperback
John C. Bogle founded Vanguard, the premier indexed mutual fund company. If you invest in mutual funds, especially if you invest in managed mutual funds, you must read this book. He reveals his intensely compelling case for passive management of funds (ie indexing) versus active management (ie stock-picking, market-timing, hot-manager style) funds.
Most people these days hold the bulk of their investment assets in pension funds, IRAs or 401Ks usually consisting of mutual funds, and this audience will gain significant insight from Bogle's advice. Bogle also campaigns to save the mutual fund trader from herself, relentlessly presenting the mutual fund as a buy-and-hold investment vehicle.
Those who have read a few other books on investing may find Bogle's single-mindedness and thoroughness a bit tedious. I found myself skimming for content throughout the book and especially after the first 14 chapters, finding the later material more visionary and less relevant to my investing. A good editor could probably reduce the bulk of the text by a half or two-thirds and retain the central ideas.
By the way, you can get much of this material (for example, the chapter on bond funds) from the Vanguard web site under the "Bogle Lectures." All the ideas are there - they're what the company is based on. Save a few bucks - reduce your investing costs - "costs matter" as Bogle will tell you again and again.
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Format: Paperback
If we were not a democracy someone would lock this guy up. He has spilled all the beans on the fake financial advisors and financial and insurance sales people that want to sell you the grotesque front end loaded mutual funds and those annuities that make piles of money for everyone except for the investor. Bogle founded one of the biggest mutual fund groups in America - the Vanguard Group - and he is a burr under the saddle of many financial people. His advice saves you money at the expense of the broker.
The bitter truth is that over the long haul only 10% of mutual funds outperform the conservative S&P 500 index. So why pay some company a front end load fund of 5-7% to under-perform the S&P 500 plus an annual fee of 1.5% when you can buy S&P index shares or Vanguard mutual funds that have no load fees, and have very low annual expenses - often less than 0.5% per annum. You end up giving away a chuck of your money if you do not follow his sound advice.
Bogle of course does not want to stop there. He wants to reign in all those CEO perks and huge bonuses and use the leverage of the mutual fund shareholders. All great stuff,
This is a case where Amazon.com should have a special 6 star category.
Jack in Toronto
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Format: Paperback
Despite the prosaic title of the book, and the conservative investment philosophy of its author, "Common Sense on Mutual Funds" has a revolutionary aim. Vanguard founder John Bogle believes the mutual fund industry must make major changes in order to faithfully serve its customers and, by explaining his investment philosophy, he shows both why radical change is necessary for the industry and helps to precipitate it by encouraging individual investors to follow his investment advice.
Bogle thinks too many mutual fund investors are being scammed by professional managers of funds who reward their companies instead of their investors' portfolios. High fees, outrageous expenses, rapid turnover, unneeded "products", marketing costs -- all are used by countless mutual fund companies to inflate their bottom lines to the detriment of their investors' needs.
Several reviewers here have noted that Bogle repeats several key points throughout the book, especially the importance of keeping costs as low as possible. This is true. But important lessons need to be stressed, especially with so much evidence that the average investor still doesn't understand them. Perhaps Bogle feels it's a lesson that can't be said enough. After all, why would you pay more for less, unless you simply don't understand what is being done to you?
This book was somewhat prescient. Published near the end of the long bull market of the 1980 and 90s, "Common Sense on Mutual Funds" called out -- in its own quiet and understated way -- for reform of the mutual fund industry before it became fashionable to do so. While Bogle's book doesn't have an angry tone, its recommendations are essentially more radical than anything now being considered by New York's attorney general in his drive to reform the industry.
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By A Customer on Oct. 30 2003
Format: Paperback
Bogle's book is a classic. It eloquently discusses mutual fund fundamentals and makes a strong argument for indexing. If this topic is important to you, try also "The Great Mutual Fund Trap", "The Intelligent Asset Allocator" (emphasis on asset allocation and indexing), and the free material at ABetterWayToInvest and ETFResources.
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By A Customer on Oct. 29 2003
Format: Paperback
John Bogle has done more to benefit investors than any 10,000 brokers, business talking heads, high-priced fund managers, or how-to investment books.
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By A Customer on Jan. 14 2003
Format: Paperback
The fund industry sells the fantasy that everyone can beat the market. What nonsense, since we are, in the aggregate, the market. Don't be sucked in! Listen to Bogle; he understands investing and offers great advice. My only disagreement is that, I believe, investors need greater exposure to international assests.
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