"Cogent, honest, and hard-hitting-a must read for every investor." The founder of the Vanguard Group offers an analysis of mutual fund investment, discussing the significance of asset allocation, the benefits of simplicity, index funds, tax costs, information technologies, and other investment principles. Foreign funds may reduce a portfolio’s volatility, but their economic and currency risks may reduce returns by a still larger amount. Unlike stock funds, they have high predictability in at least these five ways: (1) The current yields (on longer-term issues) are an excellent—if imperfect—predictor of future returns. Note also that institutionally inherent limits to arbitrage—as opposed to factors directly contradictory to the theory—are sometimes proposed as an explanation for these departures from efficiency. (5) The greatest constant of all is that—given equivalent portfolio quality and maturity—lower costs mean higher returns. Great read for finance-interested people, which will likely turn you into a Bogle-head as well. Find helpful customer reviews and review ratings for Common Sense on Mutual Funds at Amazon.com. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way through the staggering array of investment alternatives that are available to them. Warren Buffet describes this book as “Cogent, honest, and hard–hitting–a must read for every investor.” This is the perfect book for a beginner as well as a … Quotes By John C. Bogle. This isn't just the best book yet by Bogle, it may well be the best book ever on mutual funds." John C. Bogle. We’d love your help. John Bogle repeats in this book what he has been preaching for decades, so if you're not new to his work, there's going to be a lot of repeat information for you. Just a moment while we sign you in to your Goodreads account. Now, in the Fully Updated 10th Anniversary Edition of Common Sense on Mutual Funds, Bogle returns to update his in-depth look at mutual funds and the business of investing - helping you navigate through the staggering array of investment options found in today's evolving investment landscape. Find books like Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor from the world’s largest community of readers. Municipal bond funds are fine choices for investors in high tax brackets, and inflation-protected bond funds are a sound option for those who believe that much higher living costs will result from the huge federal government deficits of this era. “Jack was an original industry thought leader,” says John O’Donnell, Director of Research at Online Trading Academy, who calls The Little Book of Common Sense Investing one of his favorite books. That said, Bogle's writing is at it's best when the mountains of data gives way to simple, timeless, powerful principles that must be understood, remembered, and applied in order to have success in your investments. • Replacing the holdings sold at a loss after 30 days. This book is perhaps better suited for an experience investor who is interested in learning about more intricate details of investing. Should You Really Care?” They concluded that “for most long-term investors, bull markets are not nearly as beneficial, and bear markets not nearly as damaging as most investors seem to think.” They noted, correctly, that “a bull market raises the asset value, but delivers a proportionate reduction in the prospective real yields that the portfolio can deliver from that point forward, while a bear market does the reverse, reducing portfolio value, which is largely offset by an increase in prospective yields, other things being equal.”, “The longer the time horizon, the less the variability in average annual returns. Read a quick 1-Page Summary, a Full Summary, or watch video summaries curated by our expert team. . First published in 1999 by the late John Bogle, Common Sense on Mutual Funds explains how investors can best use mutual funds to reach their investing goals. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way … John C. Bogle shares his extensive insights on investing in mutual funds Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. This book will help investors understand the need to be efficient and disciplined over due time rather than incurring higher costs in the hopes of beating the market and getting rich quick. John C. Bogle shares his extensive insights on investing in mutual fundsSince the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. Praise for Common Sense on Mutual Funds "Invoking both Thomas Paine and Benjamin Graham, Jack Bogle outlines a supremely logical plan not only to better investors' returns, but to improve the whole fund industry. I highly recommend this book to anyone beginning to think about investing. But the saddest thing of all is not to have readied ourselves to make the most of them.”, “In these uncertain days, bond funds are an especially important option for investors. Want to get the main points of Common Sense On Mutual Funds in 20 minutes or less? Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way … I listened to this on audio, and the problem with these update sections was that they were introduced by the narrator saying something like “Ten year update,” but there was no indication when the update was over and you were back listening to the original book. -DON PHILLIPS, President & CEO, Morningstar, Inc. "Buffett cannot teach you or me how to become a … John C. Bogle shares his extensive insights on investing in mutual funds Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. My best judgment is that international holdings should comprise 20 percent of equities at a maximum, and that a zero weight is fully acceptable in most portfolios.”, “When you have identified your long-term objectives, defined your tolerance for risk, and carefully selected an index fund or a small number of actively managed funds that meet your goals, stay the course. An investor who begins contributing to a retirement plan at age 25, and then, in retirement, draws on the accumulated capital until age 75 and beyond, would have an investment lifetime of 50 years or more. I would recommend that book over this one for the average investor just for that season. • Limiting its shareholder base to investors with a long-term focus by charging a penalty—a transaction fee, payable to the fund and its remaining shareholders—if shares are redeemed within five years of purchase. It is sad when we don't get any breaks in this life, and sadder still when we don't recognize them when they make their appearance. The concept is simplicity writ large.”, “The idea that a bell rings to signal when investors should get into or out of the market is simply not credible. — Don Phillips , Managing Director, Morningstar "In this timely update of Common Sense on Mutual Funds , John Bogle improves on what was the finest book on mutual funds ever written." His advice for most investors, expounded here, is to invest in stock indices through low cost index funds. This isn't just the best book yet by Bogle, it may well be the best book ever on mutual funds." All opinions expressed are the author’s alone, and has not been provided nor approved by any of the companies mentioned. Invoking both Thomas Paine and Benjamin Graham, Jack Bogle … He presented his information in a casual manner, although with quite a bit of repetition. Of course, since its being published the financial industry has changed somewhat, with the rise of the Exchange Traded Fund making most mutual funds somewhat obsolete. Refresh and try again. For the long-term investor, returns have everything to do with the underlying economics of corporate America and very little to do with the mechanical process of buying and selling pieces of paper. Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. saving…. Bogle cites the research which says that actively managed funds very rarely can outpace the average (index) of the stock market due to the fees which eat into returns. As the maturity date lengthens, volatility of principal increases, but volatility of income declines. The book is well written and manages to stay interesting despite the fact that Bogle belabors the point, hammering home the core principles from every conceivable angle. C. Bogle. That simple concept sums up the stock market indexing revolution started by Bogle and the Vanguard funds. Low cost, low effort, high rewards. After reading this book, the choice becomes a no-brainer for anyone with a investment time-line of over 15-20 years. John C. Bogle’s most popular book is The Intelligent Investor. John C. Bogle shares his extensive insights on investing in mutual funds Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. • Realizing, to the maximum possible extent, losses on the sale of portfolio holdings that have declined (a practice known as “harvesting losses”), and thereby offsetting realized gains when they occur. Financial economics-Wikipedia. Essentially, the book encourages the reader (rightfully so) to stay away from mutual funds (they don't make sense since they don't beat the. By clearly laying out the four dimensions of investing (risk, reward, time, cost), Bogle makes a strong case for avoiding high-cost, actively managed mutual funds or funds which have high turnover or high speculation. Very interesting read for people who do not have much knowledge of mutual fund and index fund investing. John C. Bogle shares his extensive insights on investing in mutual funds. This strategy will only lose the investor money by raising costs as the actively managed fund tries (often in vain) to outperform the market. John Bogle explains, in detail, the benefit of ensuring that your portfolio is made up of low cost and low turnover investments. we suggest Common Sense on Mutual Funds. Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. Name * Email * Website. His advice for most investors, expounded here, is to invest in stock indices through low cost index funds. Keeping costs low, index investors are able to capture more of the available market returns, compounded over time to build wealth. John C. Bogle shares his extensive insights on investing in mutual fundsSince the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. John C. Bogle shares his extensive insights on investing in mutual funds. But, you can still earn by investing in index funds. Goodreads helps you keep track of books you want to read. Securing your financial future has never seemed more difficult, but you'll be a better investor for having read the Second Edition of Common Sense on Mutual Funds… But gold is largely a rank speculation, for its price is based solely on market expectations. Written by the founder of Vanguard, it has completely changed the way I will approach investing for the next 30 years and has really opened my eyes about some of the downfalls of individual investing. Topic. Our colleges, universities, and many other durable institutions have essentially unlimited time horizons.”, “The most popular form is based on: • Using a market index strategy, but emphasizing growth stocks and holding lower-yielding equities, in order to minimize the tax burden on income. There are other short (comparatively) books on investing that follow Bogle's investing 'theology'. Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, written by John Bogle, is a book advising investors about mutual funds, with a focus on the praise of index funds and the importance of having a long term strategy. Bogle likes to offer as complete an argument as he can for low cost index funds, and I personally found it quite a bit beyond what I was expecting. Even if you know the basics: invest for the long haul in super low cost funds indexed to major market indexes, there are certainly some more here that is practical. Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way … This was an informative, interesting and ultimately extremely valuable book for anyone interested in building wealth for retirement thru a 401k, IRA or by investing in mutual funds. Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. … … I did not finish this book, but thought the first two-thirds was helpful. (2) The range of gross returns earned by bond managers clusters in an inevitably narrow range that is established by the current level of interest rates in each sector of the market. Praise for Common Sense on Mutual Funds "Invoking both Thomas Paine and Benjamin Graham, Jack Bogle outlines a supremely logical plan not only to better investors' returns, but to improve the whole fund industry. Investors are starting to come around to better financial products. Those following this path are sure to beat the net results (after fees and expenses) delivered by the great majority of investment professionals.”, “Another huge toll has been taken by taxes. This is not the book to read if you're looking for a primer on investing or retirement planning that includes Bogle's philosphy. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way through the staggering array of investment alternatives that are available to them. His target audience is the consumer, not the professional money manager who is more likely to belittle the Bogle approach than embrace it. Book Review: Common Sense on Mutual Funds. Read the world’s #1 book summary of Common Sense On Mutual Funds by John C. Bogle here. Well, with this tenth anniversary edition of Common Sense on Mutual Funds, the best mutual fund primer just got better." This book's message better live on as well because it is something that needs to be repeated over and over again to avoid the trap financial institutes create for normal people (and their retirement money). Book advising investors about mutual funds, with a focus on the praise of index funds and the importance of having a long term strategy. -DON PHILLIPS, President & CEO, Morningstar, Inc. "Buffett cannot teach you or me how to become a … So in the two centuries plus shown in the chart, the initial $10,000 investment in gold grew to barely $26,000 in realterms. This strategy will only lose the investor money by raising costs as the actively managed fund tries (often. Securing your financial future has never seemed more difficult, but you'll be a better investor for having read the Second Edition of Common Sense on Mutual Funds. Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor by John C. Bogle tagged: mutual-funds. Recommended. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way … I found his arguments concerning owning foreign stock. This is just one of the solutions for you to be successful. John C. Bogle shares his extensive insights on investing in mutual funds. Each section focuses on a different but crucial financial obstacle in the current mutual fund industry. Outliers: The Story of Success by Malcolm Gladwell tagged: psychology -Warren E. Buffett Praise for Common Sense on Mutual Funds "Invoking both Thomas Paine and Benjamin Graham, Jack Bogle outlines a supremely logical plan not only to better investors' returns, but to improve the whole fund industry. Anyways, glad I read it, but certainly not light reading. Really enjoyed reading it. John C. Bogle’s most popular book is The Intelligent Investor. Reply. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way through the staggering array of investment alternatives that are available to them. Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor, written by John Bogle, is a book advising investors about mutual funds, with a focus on the praise of index funds and the importance of having a long term strategy. His 1999 book Common Sense on … I highly recommend this book to anyone beginning to think about investing. Welcome back. Essentially, the book encourages the reader (rightfully so) to stay away from mutual funds (they don't make sense since they don't beat the market and since it's virtually impossible to predict which funds would beat the market. It feels relevant and pertinent. Click Get Books for … Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor by Bogle, John C. (2010) Hardcover Unknown Binding – January 1, 1600 4.0 out of 5 stars 2 ratings See all formats and editions Hide other formats and editions The art of investing in mutual funds, I would argue, rests on simplicity and common sense.”, “But luck is never enough. Share. Common Sense on Mutual Funds Quotes Showing 1-19 of 19 “The mutual fund industry has been built, in a sense, on witchcraft.” ― John C. Bogle, Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. My Money Blog has partnered with CardRatings and Credit-Land for selected credit cards, and may receive a commission from card issuers. Such a penalty is designed to minimize the possibility of abrupt share redemptions. And with this 10th anniversary edition, the author decided that every few pages (or minutes on the audiobook), he would break in with an update. This book presents a well-written and intelligent way to look at investing and mutual funds. Unlike stocks and bonds, gold provides none of the intrinsic value that is created for stocks by earnings growth and dividend yields, and for bonds by interest payments. The index fund simply buys and holds the securities in a particular index, in proportion to their weight in the index. Around that number, risk remains fairly constant, all the way out to 30 funds (an unbelievable number! "Common Sense on Mutual Funds: New … It is quite long. Common Sense on Mutual Funds Quotes “Investing is an act of faith, a willingness to postpone present consumption and save for the future.” “No matter what the future holds, long-term investors who have chosen an index strategy because of its merits are unlikely to be dis­ap­pointed.” “Market timing and rapid turnover – both by and for mutual fund investors – betray both a lack of un­der­stand­ing of the … Not a beginners guide to investing. Perhaps it wasnt exactly. Speak Your Mind Cancel reply. It is striking how a tiny difference of .3% in expenses can dramatically alter that funds available when you go to retire. Common Sense on Mutual Funds Summary provides a free book summary, key takeaways, review, best quotes and author biography of John C. Bogle’s book regarding mutual fund investment. Still, it's all great information--he defends index investing because of its low cost, low taxes, and thus long-term superiority over actively managed mutual funds. There is no doubt that they can do so. Overall this is a good review of the economics and the business of mutual funds, and it provides the backgrounds into efficient stock and bond investing. Bogle believes in investor discipline, long-term focus, diligent saving, and the use of passively-managed index funds. Please read my … Not a beginners guide to investing. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way … He was the founder of the Vanguard Group, the home of the first low cost index mutual fund. This book is a comprehensive review of what John Bogle thinks we should all be doing with our money as well as a commentary on the mutual fund industry. A very thorough blueprint for the individual investor. Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. Download it Common Sense On Mutual Funds books also available in PDF, EPUB, and Mobi Format for read it on your Kindle device, PC, phones or tablets. Now, in this completely updated Second Edition, Bogle returns to take another … For everyone else, and that's most of you, you really ought to read this book. Perhaps it wasn’t exactly repetition, perhaps it was describing nuances to his arguments. good book on the basics of Mutual funds. Fundamental to the Bogle approach is an understanding of the role of the many costs of investing, including advisory fees, operating expenses, and sales charges. Securing your financial future has never seemed more difficult, but after reading this revised and updated edition of Common Sense on Mutual Funds, you will become a better investor. The leader needs to be ready when opportunity knocks. … Download it Common Sense On Mutual Funds books also available in PDF, EPUB, and Mobi Format for read it on your Kindle device, PC, phones or tablets. Start by marking “Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor” as Want to Read: Want to Read. Here is a quick summary: Invest only in. He explains his stance clearly in this book: it is the cost of advice and administration that consumes much of a managed mutual fund's return and that research effort doesn't exist in index funds. You have to be really geeky to read cover to cover. ― Don Phillips, Managing Director, Morningstar. Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. I found his arguments concerning owning foreign stock interesting. Since I had just read. John Clifton "Jack" Bogle (born May 8, 1929) is the founder and retired CEO of The Vanguard Group. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way … Common Sense on Mutual Funds has a lot of useful information but it’s dated. Instead, this is the book to read once you're underway and have some knowledge of what you're doing from his other more entry level books--or after you've started with the Boglehead's series. The idea that a theoretically optimal portfolio must hold each geographical component at its market weight simply pushes me further than I would dream of being pushed. Why should you read this book? Over a 200 year period almost no mutual funds beat the market. Common Sense on Mutual Funds is similar to these books: Mutual fund, Gil Blake, Dynamic asset allocation and more. He compares the returns of actively managed funds with the returns of index funds and shows the long-term impact. Notify me of new posts by email. -Warren E. Buffett "Common Sense on Mutual Funds marks the culmination of one of Wall Street's most inspired careers. Gold provides no internal rate of return. Written by the founder of Vanguard, it has completely changed the way I will approach investing for the next 30 years and has really opened my eyes about some of the downfalls of individual investing. The last ten years, although totally unprecedented and unpredictable, have certainly borne him out. A very thorough blueprint for the individual investor. Refresh and try again. Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. In this book, Jack Bogle makes a pretty compelling argument for investing in low-cost index funds. John C. Bogle shares his extensive insights on investing in mutual funds. Common Sense on Mutual Funds : John C. Bogle : 9780470138137 John C. Bogle has 47 books on Goodreads with 68212 ratings. Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition PDF by John C. Bogle : Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition ISBN : #0470138130 | Date : 2009-12-02 Description : PDF-7b609 | John C. Bogle shares his extensive insights on investing in mutual funds Since the first edition of Common Sense on Mutual Funds was published in 1999, much has … Most regress towards the mean, a few great years followed by a few dismal ones. Top Best Mutual Funds Books 1 – Common Sense on Mutual Funds 2 – Mutual Funds for Dummies 3 – Bogle on Mutual Funds 4 – The Mutual Funds Book 5 – Mutual Fund Industry Handbook 6 – Mutual Funds for Beginners Book (The Investing Series 3) 7 – Investing for Beginners 8 – The Little Book of Common Sense Investing Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor by John C. Bogle. ), at which point Morningstar apparently stopped counting.”, “When Adam Smith described the concept of the “invisible hand,” he concluded that the individual businessman “generally neither intends to promote public interest, nor knows how much he is promoting it.” Hence, Smith argued that “it is not from the benevolence of the butcher, the baker, or the brewer that we expect our dinner, but from their regard to their own interest . John C. Bogle shares his extensive insights on investing in mutual funds. Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. John C. Bogle shares his extensive insights on investing in mutual funds. A part-geek can pick and choose what to read and come out with a lot of great advice. It’s not possible to outdo the market with mutual funds. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way through the staggering array of investment alternatives that are available to them. In fact, as Muthukrishnan says, the key seems to be whether the adviser can cajole or inspire … Only Vanguard puts its fund investors first. 2.5 stars I listened to an abridged version of this. To reiterate what the estimable Mr. Buffett said earlier: “Inactivity strikes us as intelligent behavior.” Never forget it.”, Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor. Bogle on Mutual Funds gives investors the keys to adopting an effective asset allocation strategy, selecting appropriate mutual funds, and employing the savvy use of index funds. “The mutual fund industry has been built, in a sense, on witchcraft.”, “The index fund is a most unlikely hero for the typical investor. I was curious to hear Bogle's thoughts on the recent economic situation, and his reflections on his sage advice ten years earlier. Goodreads Reviews (Average rating 4.08 / 2240 ratings / 133 reviews) Review "Cogent, honest and hard-hitting - a must read for every investor." Was describing nuances to his arguments concerning owning foreign for a number of reasons including currency risk read it but. Commission from card issuers interested to learn about investing. time to build wealth maturity—lower... Last ten years, although the revisions from 2009 help a lot of information in! Of all is that—given equivalent portfolio quality and maturity—lower costs mean higher returns public interest funds the. Money manager who is interested in learning about more intricate details of investing. not expect management companies operate. Bringing emotion into a financial plan that cries out for rationality super informed investor this is n't just the mutual! Of... John C. 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