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Little Book of Common Sense Investing The Only Way to Guarantee Your Fair Share of Stock Market Returns

ISBN-10: 0470102101

ISBN-13: 9780470102107

Edition: 2007

Authors: John C. Bogle

List price: $24.95
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Description:

Investing is all about common sense. Owning a diversified portfolio of stocks and holding it for the long term is a winner's game. Trying to beat the stock market is theoretically a zero-sum game (for every winner, there must be a loser), but after the substantial costs of investing are deducted, it becomes a loser's game. Common sense tells us--and history confirms--that the simplest and most efficient investment strategy is to buy and hold all of the nation's publicly held businesses at very low cost. The classic index fund that owns this market portfolio is the "only" investment that guarantees you with your fair share of stock market returns. To learn how to make index investing work for you, there's no better mentor than legendary mutual fund industry veteran John C. Bogle. Over the course of his long career, Bogle--founder of the Vanguard Group and creator of the world's first index mutual fund--has relied primarily on index investing to help Vanguard's clients build substantial wealth. Now, with "The Little Book of Common Sense Investing," he wants to help you do the same. Filled with in-depth insights and practical advice, "The Little Book of Common Sense Investing" will show you how to incorporate this proven investment strategy into your portfolio. It will also change the very way you think about investing. Successful investing is not easy. (It requires discipline and patience.) But it is simple. For it's all about common sense. With "The Little Book of Common Sense Investing" as your guide, you'll discover how to make investing a winner's game: Why business reality--dividend yields and earnings growth--is more important than market expectations How to overcomethe powerful impact of investment costs, taxes, and inflation How the magic of compounding returns is overwhelmed by the tyranny of compounding costs What expert investors and brilliant academics--from Warren Buffett and Benjamin Graham to Paul Samuelson and Burton Malkiel--have to say about index investing And much more You'll also find warnings about investment fads and fashions, including the recent stampede into exchange traded funds and the rise of indexing gimmickry. The real formula for investment success is to own the entire market, while significantly minimizing the costs of financial intermediation. That's what index investing is all about. And that's what this book is all about. JOHN C. BOGLE is founder of the Vanguard Group, Inc., and President of its Bogle Financial Markets Research Center. He created Vanguard in 1974 and served as chairman and chief executive officer until 1996 and senior chairman until 2000. In 1999, "Fortune" magazine named Mr. Bogle as one of the four "Investment Giants" of the twentieth century; in 2004, "Time" named him one of the world's 100 most powerful and influential people, and "Institutional Investor" presented him with its Lifetime Achievement Award.
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Book details

List price: $24.95
Copyright year: 2007
Publisher: John Wiley & Sons, Incorporated
Publication date: 3/5/2007
Binding: Hardcover
Pages: 240
Size: 6.25" wide x 7.50" long x 0.75" tall
Weight: 0.836
Language: English

Introduction
A Parable
Rational Exuberance
Cast Your Lot with Business
How Most Investors Turn a Winner's Game into a Loser's Game
The Grand Illusion
Taxes Are Costs, Too
When the Good Times No Longer Roll
Selecting Long-Term Winners
Yesterday's Winners, Tomorrow's Losers
Seeking Advice to Select Funds?
Focus on the Lowest-Cost Funds
Profit from the Majesty of Simplicity
Bond Funds and Money Market Funds
Index Funds That Promise to Beat the Market
The Exchange Traded Fund
What Would Benjamin Graham Have Thought about Indexing?
"The Relentless Rules of Humble Arithmetic"
What Should I Do Now?
Acknowledgments