Bogle Don't Count on It!

Reflections on Investment Illusions, Capitalism, "Mutual" Funds, Indexing, Entrepreneurship, Idealism, and Heroes
1. Auflage 2010
ISBN: 978-0-470-94902-3
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 640 Seiten, E-Book

Praise for Don't Count On It!
"This collection of Jack Bogle's writings couldn't be moretimely. The clarity of his thinking--and his insistence on therelevance of ethical standards--are totally relevant as westrive to rebuild a broken financial system. For too many years,his strong voice has been lost amid the cacophony of competingself-interests, misdirected complexity, and unbounded greed. Read,learn, and support Jack's mission to reform the industry that hasbeen his life's work."
--PAUL VOLCKER, Chairman of the President's EconomicRecovery Advisory Board and former Chairman of the Federal Reserve(1979-1987)
"Jack Bogle has given investors throughout the world more wisdomand plain financial 'horse sense' than any person in the history ofmarkets. This compendium of his best writings, particularly hispost-crisis guidance, is absolutely essential reading for investorsand those who care about the future of our society."
--ARTHUR LEVITT, former Chairman, U.S. Securities andExchange Commission
"Jack Bogle is one of the most lucid men in finance."
--NASSIM N.TALEB, PhD, author of The Black Swan
"Jack Bogle is one of the financial wise men whose experiencespans the post-World War II years. This book, encompassinghis insights on financial behavior, pitfalls, and remedies, with aspecial focus on mutual funds, is an essential read. We can onlybenefit from his observations."
--HENRY KAUFMAN, President, Henry Kaufman &Company, Inc.
"It was not an easy sell. The joke at first was that onlyfinance professors invested in Vanguard's original index fund. Butwhat a triumph it has been. And what a focused and passionate driveit took: it is a zero-sum game and only costs are certain. Thankyou, Jack."
--JEREMY GRANTHAM, Cofounder and Chairman, GMO
"On finance, Jack Bogle thinks unconventionally. So, this soundrebel turns out to be right most of the time. Meanwhile, many of ussometimes engage in self-deception. So, this book will set usstraight. And in the last few pages, Jack writes, and I agree, thatPeter Bernstein was a giant. So is Jack Bogle."
--JEAN-MARIE EVEILLARD, Senior Adviser, First EagleInvestment Management
Insights into investing and leadership from the founder ofThe Vanguard Group
Throughout his legendary career, John Bogle-founder of theVanguard mutual fund group and creator of the first index mutualfund-has helped investors build wealth the right way, while, at thesame time, leading a tireless campaign to restore common sense tothe investment world.
A collection of essays based on speeches delivered toprofessional groups and college students in recent years, inDon't Count on It is organized around eight themes
* Illusion versus reality in investing
* Indexing to market returns
* Failures of capitalism
* The flawed structure of the mutual fund industry
* The spirit of entrepreneurship
* What is enough in business, and in life
* Advice to America's future leaders
* The unforgettable characters who have shaped his career
Widely acclaimed for his role as the conscience of the mutualfund industry and a relentless advocate for individual investors,in Don't Count on It, Bogle continues to inspire, whilepushing the mutual fund industry to measure up to theirpromise.

Autoren/Hrsg.

Bogle, John C.

Weitere Mitwirkende

Blinder, Alan S.

Inhaltsverzeichnis

Foreword.
Introduction.
A Note to the Reader.
Part One. Investment Illusions.
Chapter 1 Don't Count on It! The Perils of Numeracy.
Chapter 2 The Relentless Rules of Humble Arithmetic.
Chapter 3 The Telltale Chart.
Chapter 4 A Question So Important That It Should Be Hard toThink about Anything Else.
Chapter 5 The Uncanny Ability to Recognize the Obvious.
Part Two. The Failure of Capitalism.
Chapter 6 What Went Wrong in Corporate America?
Chapter 7 Fixing a Broken Financial System.
Chapter 8 Vanishing Treasures: Business Values and InvestmentValues.
Chapter 9 A Crisis of Ethic Proportions.
Chapter 10 Black Monday and Black Swans.
Chapter 11 The Go-Go Years.
Part Three. What's Wrong with "Mutual" Funds.
Chapter 12 Re-Mutualizing the Mutual Fund Industry: The Alphaand the Omega.
Chapter 13 A New Order of Things: Bringing Mutuality to the"Mutual" Fund.
Chapter 14 The Fiduciary Principle: No Man Can Serve TwoMasters.
Chapter 15 Mutual Funds at the Millennium: Fund Directors andFund Myths.
Chapter 16 "High Standards of Commercial Honor . . .Just andEquitable Principles of Trade . . .Fair Dealing withInvestors".
Part Four. What's Right with Indexing.
Chapter 17 Success in Investment Management: What Can We Learnfrom Indexing?
Chapter 18 As the Index Fund Moves from Heresy to Dogma, WhatMore Do We Need to Know?
Chapter 19 "The Chief Cornerstone".
Chapter 20 Convergence! The Great Paradox: Just as Active FundManagement Becomes More and More Like Passive Indexing, So PassiveIndexing Becomes More and More Like Active Fund Management.
Part Five. Entrepreneurship and Innovation.
Chapter 21 Capitalism, Entrepreneurship, and Investing: The 18thCentury versus the 21st Century.
Chapter 22 Seventeen Rules of Entrepreneurship.
Chapter 23 "Vanguard: Saga of Heroes".
Chapter 24 When Does Innovation Go Too Far?
Part Six. Idealism and the New Generation.
Chapter 25 Business as a Calling.
Chapter 26 The Right Kind of Success.
Chapter 27 "This Above All: To Thine Own Self Be True".
Chapter 28 "Enough".
Chapter 29 If You Can Trust Yourself . . . .
Chapter 30 The Fifth "Never".
Chapter 31 "When a Man Comes to Himself ".
Part Seven. Heroes and Mentors.
Chapter 32 Walter L. Morgan.
Chapter 33 Paul A. Samuelson.
Chapter 34 Peter L. Bernstein.
Chapter 35 Bernard Lown, MD.
Index.

Über Autor(innen)

John C. Bogle is the founder of the Vanguard Group of MutualFunds and President of its Bogle Financial Markets Research Center.He created Vanguard in 1974 and served as chairman and chiefexecutive officer until 1996 and senior chairman until 2000. In1999, Fortune magazine named Mr. Bogle as one of the four"Investment Giants" of the twentieth century; in 2004, Timemagazine named him one of the world's 100 most powerful andinfluential people, and Institutional Investor presented him withits Lifetime Achievement Award. In 2010, Forbes magazine describedhim as the person who "has done more good for investors than anyother financier of the past century." Mr. Bogle graduated fromBlair Academy cum laude in 1947 and Princeton University in 1951,magna cum laude in economics. In 1999, he received the University'sWoodrow Wilson Award for distinguished achievement in the nation'sservice.
Don't Count on It! is Mr. Bogle's ninth book. His earlierbooks include Common Sense on Mutual Funds, The Battlefor the Soul of Capitalism, The Little Book of Common SenseInvesting, and Enough.