Amazon.co.uk Review
Invoking the words and spirit of Thomas Paine, investor-turned-historian John Bogle concedes that ideas for revamping the mutual-fund industry are perhaps "not yet sufficiently fashionable to them general favor." But despite likening the "ills and injustices suffered by mutual fund investors" to those "our forebears suffered under English tyranny," Bogle--founder of the Vanguard Group-- makes a strong case for index funds with this exhaustive study of investing.
He begins with primer-like essays on investment strategy, championing mutual funds for their inherent investment value, and then grinding each point home with a bevy of graphs, charts, entertaining anecdotes, and common sense. He repeatedly stresses time as a basic tenet for investing, listing these simple rules: "Time is your friend"; "Impulse is your enemy"; "Stay the course." And then he proceeds to blast fund managers, who have become marketers rather than managers.
The trade-off between the profits that accrue to fund shareholders and the profits that accrue to the fund management companies seems subject to no effective independent watchdog or balance wheel, despite the fact that the shareholders actually own the mutual funds.It's an interesting concept: smart, reasoned investors can all but secure their financial future, but the system itself, run unchecked by fund managers, needs a major overhaul. And considering the amount of reasoned, historically based support he includes, readers will have a hard time finding fault with the sometimes controversial Bogle. In equal parts instructional and crusade, Common Sense on Mutual Funds deserves the attention it's likely to receive. Recommended. --Rob McDonald, Amazon.com
Review
"Cogent, honest and hard–hitting – a must read for every investor." –Warren E. Buffett
"Common Sense on Mutual Funds marks the culmination of one of Wall Street′s most inspired careers. Invoking both Thomas Paine and Benjamin Graham, Jack Bogle proceeds to outline a supremely logical plan not only to better investors′ returns, but to improve the whole fund industry. This isn′t just the best book yet by Bogle, it may well be the best book ever on mutual funds." –Don Phillips, President & CEO, Morningstar, Inc.
"Buffett cannot teach you or me how to become a Warren Buffett. Bogle′s reasoned precepts can enable a few million of us savers to become in twenty years the envy of our suburban neighbors – while at the same time we have slept well in these eventful times." –Paul A. Samuelson, Massachusetts Institute of Technology, Department of Economics
"After a lifetime of picking stocks, I have to admit that Bogle′s arguments in favor of the index fund has me thinking of joining him rather than trying to beat him. Bogle′s wisdom and his commonsense way of explaining things makes this book indispensable reading for anyone trying to figure out how to invest in this crazy stock market."–James J. Cramer, Money manager and senior columnist for TheStreet.com
"Written in his characteristic forthright and visionary style, Jack Bogle′s new book penetrates the myths and jargon to shed a powerful light on the central issues that confront every investor, no matter what their level of experience or sophistication." –Martin L. Leibowitz, Vice President and Chief Investment Officer, TIAA–CREF
"Jack Bogle is one of the great pioneer/visionaries of the investment business. In this book he shares his knowledge, experience, and judgement to enable us to become better investors. The final philosophical chapters provide insights that may help some of us become better people." –Byron R. Wien, Chief U.S. Investment Strategist, Morgan Stanley Dean Witter
"Superior in intellect, character, and performance, the investment genius who defied conventional wisdom and proved his critics wrong gives readers a wealth of practical advice." –Hon. William E. Simon, Former Secretary of the Treasury
"Common Sense on Mutual Funds marks the culmination of one of Wall Street′s most inspired careers. Invoking both Thomas Paine and Benjamin Graham, Jack Bogle proceeds to outline a supremely logical plan not only to better investors′ returns, but to improve the whole fund industry. This isn′t just the best book yet by Bogle, it may well be the best book ever on mutual funds." –Don Phillips, President & CEO, Morningstar, Inc.
"Buffett cannot teach you or me how to become a Warren Buffett. Bogle′s reasoned precepts can enable a few million of us savers to become in twenty years the envy of our suburban neighbors – while at the same time we have slept well in these eventful times." –Paul A. Samuelson, Massachusetts Institute of Technology, Department of Economics
"After a lifetime of picking stocks, I have to admit that Bogle′s arguments in favor of the index fund has me thinking of joining him rather than trying to beat him. Bogle′s wisdom and his commonsense way of explaining things makes this book indispensable reading for anyone trying to figure out how to invest in this crazy stock market."–James J. Cramer, Money manager and senior columnist for TheStreet.com
"Written in his characteristic forthright and visionary style, Jack Bogle′s new book penetrates the myths and jargon to shed a powerful light on the central issues that confront every investor, no matter what their level of experience or sophistication." –Martin L. Leibowitz, Vice President and Chief Investment Officer, TIAA–CREF
"Jack Bogle is one of the great pioneer/visionaries of the investment business. In this book he shares his knowledge, experience, and judgement to enable us to become better investors. The final philosophical chapters provide insights that may help some of us become better people." –Byron R. Wien, Chief U.S. Investment Strategist, Morgan Stanley Dean Witter
"Superior in intellect, character, and performance, the investment genius who defied conventional wisdom and proved his critics wrong gives readers a wealth of practical advice." –Hon. William E. Simon, Former Secretary of the Treasury
