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14 of 14 people found the following review helpful
5.0 out of 5 stars Common Sense Indeed
A plain, uncomplicated introduction to the truth about the securities industry. And some mathematical/statistical truths that it bends over backwards to ignore. And how index investing can save you from Them. And from yourself.

John Bogle founded a not-for-profit investing house that now manages many billions of dollars--all in indexed funds--at low cost to the...
Published on April 15 2007 by Sears Braithwaite (of Bullard)

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0 of 3 people found the following review helpful
3.0 out of 5 stars Book could be even smaller
I have a little bit of background information on the subject. I believe this book is informative. However, the whole book could be very well summarized in three to five paragraphs, or well, five or six pages to be fair. I can't understand why the same argument is repeated over and over throughout the book.
Published on Sept. 8 2010 by Kat


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14 of 14 people found the following review helpful
5.0 out of 5 stars Common Sense Indeed, April 15 2007
By 
Sears Braithwaite (of Bullard) "SB" (Ontario) - See all my reviews
(TOP 1000 REVIEWER)   
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This review is from: The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Hardcover)
A plain, uncomplicated introduction to the truth about the securities industry. And some mathematical/statistical truths that it bends over backwards to ignore. And how index investing can save you from Them. And from yourself.

John Bogle founded a not-for-profit investing house that now manages many billions of dollars--all in indexed funds--at low cost to the investors, and channels the profits back to them. Naturally, we have no equivalent in Canada (where, on average, we pay even more than Americans do for mutual funds).

Often major American firms like to branch out to Canada. By the time I finished reading this book, I actually felt miffed with Mr. Bogle for not bringing Vanguard to Canada--we lost out big time. But then I also started wondering: after all these years, why no Canadian imitator? Follow the money...

If this book gets you interested in learning more about indexing, consider William Bernstein's The Intelligent Asset Allocator. It explains the theory in depth, but is extremely well written and reader-friendly.
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8 of 8 people found the following review helpful
5.0 out of 5 stars Life Changer, Aug. 6 2009
This review is from: The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Hardcover)
This book was highly informative and educational. I learned so much. It illustrates the following points via quantitative examples:
- For equity investing, buy an index fund that holds the entire stock market and hold it forever. You will capture most of the return generated by the market in this way. The relevant index fund should be based on the S&P 500 or DJIA. He says that, "Investors should be content with earning the market's return. Only the classic index fund can guarantee that outcome."
- Using middlemen (i.e. stock brokers, financial advisers etc.) costs you money so don't waste your time. Financial advisers and stock brokers are not good at picking funds/stocks etc.
-Mutual funds managers (of actively managed funds) can't outperform the market in the long-run. They will have periods of success but will ultimately eventually fail.
-The goal should be to minimize all costs:financial intermediation (management fees, operating expenses, sales charges, portfolio turnover), taxes, inflation,
People who manage other people's money make a fortune. Costs kill returns.

He is a proponent of long-term investment in index funds or ETFs. In fact, he suggests that you hold them forever.

He exposed morningstar ratings as being misleading. And I always trusted morningstar before this! Not anymore.

Among index mutual funds, he emphasized choosing the lowest cost ones with no sales loads or annual fees.

He discussed the corollary for investing in bonds.

Then he discussed trends which have come up and can be better than indexing: ETFs etc. The only ETF that performs as well as investing in a total stock market index fund is investing in a broad market ETF.
Both classic index funds and broad index ETFs have the following features:
-Broadest possible diversification
-Longest time horizon
-Lowest possible cost
-Greatest possible tax efficiency
-Highest possible share of market return

The classic index fund only has market risk. No risk of selecting specific securities; no risk of selecting managers; no risk of selecting investment style;

There are also quotes from various people, including warren buffet, that support his ideas.

He has such a great vocabulary. I love the way he uses language. There were 49 words that I had to look up the meaning of.

I care about his point of view because he is the pioneer of index funds. His undergraduate thesis was about index funds. Wow. Talk about smart! His undergrad was in economics.
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4.0 out of 5 stars Add Timing to Common Sense Investing, Feb. 8 2014
By 
Cyclentrade (Winnipeg, Manitoba Canada) - See all my reviews
Let me say up front that I have not read this book but I do understand and invest in it's premise.

As a former financial advisor and seller of Markowitz's theory of efficient asset allocation theory I came to realize that one could add an element of timing to portfolio constituents, rather than simply relying on time in the market. The purpose would be to avoid large draw downs during bear markets and to participate in bull markets.

My main portfolio is invested in Vanguard ETFs. I view each ETF on a price chart at the end of each month to observe their price trend. A decision is made to buy, sell, wait or hold based on whether price is above or below a 10 month simple moving average. This roughly corresponds to the 200 day average which is closely watched by many money managers as separating bull from bear markets. Daily is too often and monthly seems about right for a portfolio trend status report.
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5.0 out of 5 stars Couch Potato Investing, Jan. 18 2014
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This review is from: The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Hardcover)
If you have no investment knowledge, this book will guide you in making safe, long term strategies that will match the average returns on the stock market, without needing to even look at your investments more than every few months.
I like it that he "tells it as it is", and does not recommend the excessive ratio of bonds to stocks recommended elsewhere. Bonds do well as interest rates fall. After 30 years of interest rates going lower and bonds acting favorably, interest rates can only go up and bonds will be a guaranteed way to lose money, although perhaps at a rate low enough that the investor will not notice until he or she can no longer afford the things that they were used to.
He points out that Mutual Funds cannot improve on the stock market movements enough that they can earn their pay and still beat couch potato investing.
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4.0 out of 5 stars Love his simplicity in explaining how to invest wisely without ..., July 20 2014
By 
Robert Leduc (St-ÿtienne de Lauzon, Québec Canada) - See all my reviews
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This review is from: The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Hardcover)
Mr. Bogle is very inspiring. Love his simplicity in explaining how to invest wisely without too much hassle and not
wasting your cash in management fees from all the financial 'experts'.
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5.0 out of 5 stars Probably one of the best investing books for your money, Sept. 11 2014
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This review is from: The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Hardcover)
Probably one of the best investing books for your money.
If I had read this little book years ago I would be a lot richer.
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0 of 3 people found the following review helpful
3.0 out of 5 stars Book could be even smaller, Sept. 8 2010
This review is from: The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Hardcover)
I have a little bit of background information on the subject. I believe this book is informative. However, the whole book could be very well summarized in three to five paragraphs, or well, five or six pages to be fair. I can't understand why the same argument is repeated over and over throughout the book.
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0 of 4 people found the following review helpful
2.0 out of 5 stars Buying the market, Nov. 25 2012
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This review is from: The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Hardcover)
JohnBogle is a mat man, but buying the entire Market means you will never beat it, which is fine for most people. John is another emh type which makes his book a little dry in parts.
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