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The Battle for the Soul of Capitalism Paperback – November 27, 2006
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Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.
Top Customer Reviews
The thrust of Mr. Bogle's message (documented over and over) is that corporations are now controlled by their managers--not by their owners (shareholders). (The average CEO compensation has soared to 280 times that of the average worker.) Mr. Bogle deftly lays out the problem, but more importantly, he gives us the solution that will return capitalism to its owners and value creation. I could not put the book down.
This book could only have been written by John Bogle, the man that has saved the common investor billions of dollars annually by refusing to operate in a status quo manner. This book eloquently explains what went wrong, why it went wrong, and most importantly, what we can do to fix it. I was steaming mad as I again realized how our trusted fiduciaries violated their duties of loyalty and prudence. The big question for me is will I stay mad enough to actually do something about it?
I highly recommend this book. It may be the first major shot in a long battle for capitalists to take back control of our own capital.
That said, it is an excellent call to arms. Maybe its effect will be motivating more individuals to shun the more egregious parts of the finance industry and to quit being passive owners. That might have an effect.
As for myself, if I'd read this book earlier, I might have recognized, and avoided, a few bad investments (boston chicken, dhb, etc) where the insiders were basically looting from the owners. So, after reading this book, folks should be fired up enough to try identifying greedy corporate management, weak boards of directors, and passive ownership. The book points the way but does not supply the tools.
recent cases in point (as of 1/9/07):
Goldman sachs gives huge bonuses instead of distributing because management rode some bubbles to yield massive paper returns. Will they take money back in a bad year? Good year management gets big bonus, bad year owners eat loss.
Lesson: greedy management, avoid goldman sachs.
Home depot gives a few hundreds of millions severance to the CEO.
Lesson: weak board, avoid home depot
Come to think of it, my S&P index fund holdings are feeding the frenzy. I should pull out and put the money where I can vote my shares.
Most Recent Customer Reviews
Excellent treatise on the state of our economy 10 years ago. Sadly, Not much has changed.Published 13 months ago by Brad~Scott Girod
This book gave voice and clarity to many of the questions about the economy and the fiduciary responsibilities (or more appropriately lack there of now that I've read the book) of... Read morePublished 21 months ago by Adam Schreiber
This book is worth your time. It outlines how there have been philosophical changes in American Business in the last 50 years at the corporate, investor, and mutual fund levels. Read morePublished 23 months ago by Barbara newman
Mr. Bogle plainly lays out the problem with capitalism, but more importantly, he gives us the solution that will return capitalism to its owners and value creation. Read morePublished on May 23, 2014 by Iam_
Its Amazing Book i learn a lot from this book Financial industry and specialty in Mutual Fund Industry i do recommend to every business owner specially on Financial Industry.Published on April 4, 2014 by Financial Land
Bogle, in his book, makes an excellent case that shareholders and investors in the financial sector have been taken for a ride by those in positions of fiduciary responsibility... Read morePublished on October 30, 2011 by Yoda
Jack Bogle is possibly the greatest salesman ever. He took a mediocre mutual fund and turned it into the "low-fee" empire! Read morePublished on July 24, 2010 by Mike
This is a must read for all investors and anyone working in the financial services industry. Written in 2005, Mr. Read morePublished on November 26, 2009 by Mark Mensack