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The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits) Kindle Edition
John C. Bogle
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Length: 287 pages | Word Wise: Enabled | Enhanced Typesetting: Enabled |
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Language: English |
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From the Inside Flap
PRAISE FOR THE LITTLE BOOK OF COMMON SENSE INVESTING
"Jack Bogle's remarkable career spans the spectrum from lonely iconoclast to celebrated rock star. His conception and development of index funds transformed the investment world for individuals and institutions alike. Countless millions of investors have purchased index funds because of Jack. But, simply being an indexer is insufficient. Successful investors embrace the principles undergirding the rationale for index funds and understand the pitfalls hindering the effective execution of an investment plan. The Little Book of Common Sense Investing provides the tools required to implement a winning portfolio strategy. Read it and win!"
DAVID F. SWENSEN, Chief Investment Officer, Yale University
"What Gutenberg was to the printing press, Henry Ford to the automobile, and Shakespeare to the English language, Jack Bogle is to finance. The Little Book of Common Sense Investing packs into 270 short pages the distilled genius of the nearly seven decades he's spent revolutionizing the process for everyone, from the smallest IRA holder to the largest pension and endowment funds. Read, enjoy, and profit."
WILLIAM J. BERNSTEIN, bestselling author of The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between
"One hundred years from today, historians will remember only two investors from this eraWarren Buffett and Jack Bogle. The two books they will note? Buffett's bible, Ben Graham's The Intelligent Investor, and . . . anything written by Jack Bogle. In a world of investment foxes, Jack remains a stalwart hedgehog. The Little Book of Common Sense Investing, updated here, will prove timeless as it thoughtfully articulates Bogle's one big ideahow investors can get their fair share of market returns."
STEVE GALBRAITH, Managing Member, Kindred Capital
"Jack Bogle's thin Little Book is thick with wisdom. It's informative, insightful, and opinionated with the added advantage of being correct! As Bogle explains, the road to investment failure is paved with expensive advice, expensive investments, and expensive advertising (urging you to buy the first two). Bogle suggests a very different course for investors, virtually guaranteeing investment success."
TED ARONSON, CFA, founder, AJO
--This text refers to the hardcover edition.
From the Back Cover
"Rather than listen to the siren songs from investment managers, investorslarge and smallshould instead read Jack Bogle's The Little Book of Common Sense Investing."
WARREN BUFFETT
The Bestselling Investing "Bible" Offers New Information, New Insights, and New Perspectives
The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500.
While the stock market has tumbled and then soared since the first edition of The Little Book of Common Sense Investing was published in April 2007, Bogle's investment principles have endured and served investors well. This tenth anniversary edition includes updated data and new information but maintains the same long-term perspective as its predecessor.
Bogle has also added two new chapters designed to provide further guidance to investors: one on asset allocation, the other on retirement investing.
A portfolio focused on index funds is the only investment that effectively guarantees your fair share of stock market returns. This strategy is favored by Warren Buffett, who said this about Bogle: "If a statue is ever erected to honor the person who has done the most for American investors, the hands-down choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. . . . Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me."
Bogle shows you how to make index investing work for you and help you achieve your financial goals, and finds support from some of the world's best financial minds: not only Warren Buffett, but also Benjamin Graham, Paul Samuelson, Burton Malkiel, Yale's David Swensen, Cliff Asness of AQR, and many others.
This new edition of The Little Book of Common Sense Investing offers you the same solid strategy as its predecessor for building your financial future.
- Build a broadly diversified, low-cost portfolio without the risks of individual stocks, manager selection, or sector rotation.
- Forget the fads and marketing hype, and focus on what works in the real world.
- Understand that stock returns are generated by three sources (dividend yield, earnings growth, and change in market valuation) in order to establish rational expectations for stock returns over the coming decade.
- Recognize that in the long run, business reality trumps market expectations.
- Learn how to harness the magic of compounding returns while avoiding the tyranny of compounding costs.
While index investing allows you to sit back and let the market do the work for you, too many investors trade frantically, turning a winner's game into a loser's game. The Little Book of Common Sense Investing is a solid guidebook to your financial future. --This text refers to the hardcover edition.
About the Author
JOHN C. BOGLE is founder and former chairman of the Vanguard Group of mutual funds and President of its Bogle Financial Markets Research Center. After creating Vanguard in 1974, he served as chairman and chief executive officer until 1996 and senior chairman until 2000. Bogle is the author of ten books, including Enough: True Measures of Money, Business, and Life, The Little Book of Common Sense Investing, and Clash of the Cultures: Investment vs. Speculation, all published by Wiley. --This text refers to the hardcover edition.
Review
"It's an easy read that will, I suspect, quickly join Burton Malkiel's "A Random Walk Down Wall Street"and Charles Ellis's "Winning the Loser's Game"as one of the indexing crowd's favorite books."-- Jonathan Clements ("Wall Street Journal")
"It's hard to argue with the eloquent logic of John C. Bogle's latest ode to index funds." ("Bloomberg Terminal," March 8, 2007).
"provides an opportunity to reflect on a remarkable career and legacy." ("Financial Times," 19th March 2007)
"excellent advice in a concise and accessible manner." (The Wall Street Journal, April 10, 2007)
"It's hard to argue with the eloquent logic of John C. Bogle's latest ode to index funds...Bogle's 'Little Book' offers much exemplary advice." (Bloomberg News, April 2007)
Among monetary gurus and wise men, John Bogle is a singular case. As the founder of the highly regarded Vanguard Group, he is revered for the company's commitment to providing value to its clients as well as profits to its investors. He even has his own group of fans, called "Bogleheads," who cling to every utterance and pronouncement from the great man.
In this latest entry in the Little Book series, Bogle's gentle prose contains idiot-proof advice for investors at all levels. He punctures the myth of the superiority of mutual funds and instead declares that by using a bit of common sense, low-cost index funds are the way to go for most modest stock investors. He's also wary of the ways of Wall Street and cautions investors to steer clear of its institutional con men and cautions against excessive fees and taxes that invariably eat up profits.
It's not very glamorous or exciting advice, but that's also his point: Slow and steady wins the race. (Miami Herald, April 9, 2007)
"genuinely provides investors with the ideal strategy for making the most of stock-market investing" (Motley Fool's UK website, March 8, 2007)
"It's an easy read that will, I suspect, quickly join Burton Malkiel's A Random Walk Down Wall Streetand Charles Ellis's Winning the Loser's Gameas one of the indexing crowd's favorite books."--Jonathan Clements (Wall Street Journal)
"It's hard to argue with the eloquent logic of John C. Bogle's latest ode to index funds." (Bloomberg Terminal, March 8, 2007).
"provides an opportunity to reflect on a remarkable career and legacy." (Financial Times, 19th March 2007)
..".it is John Bogle's hymn to index-tracking investment, and a fascinating read it is too." (Daily Telegraph, March 2007)
"Those who doubt my reasoning should read the Little Book of Common Sense Investing by John Bogle." (FT Adviser, 24th April 2007)
..".particularly interesting...goes some way towards discrediting the stockpicking virtues taught to me in my time as a financial journalist." (Fund Strategy, 7th May 2007)
..".wittily written, pocket-sized guide...If you want to learn how to avoid the unpredictabilities of the stock market and the fees of middle men, then this book is well worth a read." (Pensions Age, May 2007)
" ... For the individual investor, it presents a solid game plan for growing funds over the long haul." (Directorship, July 2007)
..". read Bogle's new Little Book of Common Sense Investingand you'll see how easy it is to beat the Alpha Hunters at their own game!" (MarketWatch, July 2007)
'The one big thing that Bogle knows -- and explains so well in this slender volume -- is that buying and holding a broad benchmark of stocks while keeping fees to a minimum leads to higher long-term returns than constantly trading in a vain attempt to beat the market. Common sense? Yes. But radical too, as the entire investing establishment is designed to get investors to do the exact opposite." (CNNMoney)
"Business books are often written by show-offs who want you to know all about their knowledge of the Greek tragedies and dark-coloured birds. So it was nice to get hold of the simply written Little Book of Common Sense Investing...Its author, John Bogle, in no simpleton. He built Vanguard into a huge fund manager...He is synonymous with index funds in the US. Vanguard's S&P 500 tracker is by far the world's largest mutual fund."--Stephen Cranston, Investor's Notebook (Jan 23, 2013)
-excellent advice in a concise and accessible manner.- (The Wall Street Journal, April 10, 2007)
-It's hard to argue with the eloquent logic of John C. Bogle's latest ode to index funds...Bogle's 'Little Book' offers much exemplary advice.- (Bloomberg News, April 2007)
Among monetary gurus and wise men, John Bogle is a singular case. As the founder of the highly regarded Vanguard Group, he is revered for the company's commitment to providing value to its clients as well as profits to its investors. He even has his own group of fans, called -Bogleheads,- who cling to every utterance and pronouncement from the great man.
In this latest entry in the Little Book series, Bogle's gentle prose contains idiot-proof advice for investors at all levels. He punctures the myth of the superiority of mutual funds and instead declares that by using a bit of common sense, low-cost index funds are the way to go for most modest stock investors. He's also wary of the ways of Wall Street and cautions investors to steer clear of its institutional con men and cautions against excessive fees and taxes that invariably eat up profits.
It's not very glamorous or exciting advice, but that's also his point: Slow and steady wins the race. (Miami Herald, April 9, 2007)
-genuinely provides investors with the ideal strategy for making the most of stock-market investing- (Motley Fool's UK website, March 8, 2007)
-It's an easy read that will, I suspect, quickly join Burton Malkiel's A Random Walk Down Wall Streetand Charles Ellis's Winning the Loser's Gameas one of the indexing crowd's favorite books.---Jonathan Clements (Wall Street Journal)
-It's hard to argue with the eloquent logic of John C. Bogle's latest ode to index funds.- (Bloomberg Terminal, March 8, 2007).
-provides an opportunity to reflect on a remarkable career and legacy.- (Financial Times, 19th March 2007)
-...it is John Bogle's hymn to index-tracking investment, and a fascinating read it is too.- (Daily Telegraph, March 2007)
-Those who doubt my reasoning should read the Little Book of Common Sense Investing by John Bogle.- (FT Adviser, 24th April 2007)
-...particularly interesting...goes some way towards discrediting the stockpicking virtues taught to me in my time as a financial journalist.- (Fund Strategy, 7th May 2007)
-...wittily written, pocket-sized guide...If you want to learn how to avoid the unpredictabilities of the stock market and the fees of middle men, then this book is well worth a read.- (Pensions Age, May 2007)
- ... For the individual investor, it presents a solid game plan for growing funds over the long haul.- (Directorship, July 2007)
-... read Bogle's new Little Book of Common Sense Investingand you'll see how easy it is to beat the Alpha Hunters at their own game!- (MarketWatch, July 2007)
'The one big thing that Bogle knows -- and explains so well in this slender volume -- is that buying and holding a broad benchmark of stocks while keeping fees to a minimum leads to higher long-term returns than constantly trading in a vain attempt to beat the market. Common sense? Yes. But radical too, as the entire investing establishment is designed to get investors to do the exact opposite.- (CNNMoney)
-Business books are often written by show-offs who want you to know all about their knowledge of the Greek tragedies and dark-coloured birds. So it was nice to get hold of the simply written Little Book of Common Sense Investing...Its author, John Bogle, in no simpleton. He built Vanguard into a huge fund manager...He is synonymous with index funds in the US. Vanguard's S&P 500 tracker is by far the world's largest mutual fund.---Stephen Cranston, Investor's Notebook (Jan 23, 2013)
--This text refers to an alternate kindle_edition edition.Product details
- ASIN : B075Z6HSCJ
- Publisher : Wiley; 2 edition (20 September 2017)
- Language : English
- File size : 1834 KB
- Text-to-Speech : Enabled
- Enhanced typesetting : Enabled
- X-Ray : Enabled
- Word Wise : Enabled
- Print length : 287 pages
-
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Top reviews from Australia
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I wish there were more I formation around derivatives combined with index funds...
Top reviews from other countries

An absolute waste of money.

It makes a really compelling argument for investing using an index fund and saving time and energy for other things you may enjoy more than researching companies, etc.
Over the long terms:
- Costs compound badly
- Active investors on average fail to produce good results because of the costs of trading and CGT (Capital Gain Taxes) expenses
- By buying an index you reduce the emotional stress and you'd be less likely of panic or get greedy
For some reason I still think the book is missing something in terms of preparing the reader for the frequent and normal up and down of the markets.

Over the years, I have learned these lessons slowly but surely (and sometimes painfully!) I can honestly say that if I'd had this book back in 1996, I wouldn't have made nearly as many mistakes.
In the 1970s, John Bogle was the visionary that understood that the best strategy for almost every investor who is in it for the long haul is to invest broadly in index (tracker) funds with low charges. That's it! Sounds simple, and if you don't want to spend 14 quid on the book, just do this. But in comparison to the long-term costs of investing, 14 quid is nothing, and the book will help you understand WHY this is such a good long-term strategy. Using numerous data-based examples, Bogle illustrates why this works, and the pitfalls of not following it. All the data show that "expert" stock-pickers do no better than chance, compared to index funds, and because of factors such as reversion to the mean, and of course higher costs, they do worse.
I read this book in just 2 days. Besides maybe Dave Ramsay's book "Financial Peace", it is by far the easiest book on investment that I have ever read. Considering the move within the UK towards defined-contribution occupational pension schemes, it should be required reading.


If you actually want to learn how to trade stocks and shares, don’t buy this book. It’s a complete waste of time.