From the Back Cover
How John Bogle Built Vanguard and Transformed the Investment WorldIn His Own Words
Vanguard has introduced generations of independent investors to the wealth-building might of the U.S. stock market. But it owes its existence to the visionary genius and dogged tenacity of one manJohn C. Bogle, one of the last of a breed of principled and unbending financial legends.
Over the years, Bogle's prescient and fiery speeches to the burgeoning Vanguard staff have also become legend. Character Counts collects those speeches in one volume. More than just an insider's portrait of the reasons behind Vanguard's remarkable success, however, it is a fascinating oral history of the too-long-in-coming empowerment of America's independent investorand the take-no-prisoners attitude of the man who dedicated his life to making it happen.
What they're saying about John Bogle . . .
"I date my success as an investor from the day I met Jack Bogle and learned about index mutual funds."Jane Bryant Quinn, Newsweek columnist, author, Making the Most of Your Money
"(Bogle is) the investment genius who defied conventional wisdom and proved his critics wrong."William E. Simon, former Secretary of the Treasury
"Jack Bogle is one of the great pioneer/visionaries of the investment business."Byron R. Wien, Chief U.S. Investment Strategist, Morgan Stanley Dean Witter
"(Bogle is) a solid advisor in the world of charlatans, false prophets, and hysterics."Financial Times
"Jack Bogle (is) the Molotov cocktail-throwing founder of Vanguard Group."Robert Barker, BusinessWeek Online
"John C. Bogle (has) the mind of an economist and the personality of a preacher."
The Washington Post
Vanguard has grown to become the world's largest no-load mutual fund organization and by far the world's lowest-cost provider of financial services to independent investors. But far more than its unprecedented size and remarkable rate of growth, it is Vanguard's concern for the rights of the independent investor that mark it as the most truly progressive company in the mutual fund industry . . .
And its founder Jack Bogle as the industry's greatest visionary.
Character Counts presents Bogle at his most straightforward and unvarnished, through the words and ideas of forty-two actual speechescomplete with newlywritten commentarythat he has given to Vanguard crew members since Vanguard's founding in 1974. At times fierce and funny, calculated and compassionate, Bogle's words represent an entertaining and insightful chronicle of Vanguard, the mutual fund industry, and the late-twentieth century financial markets.
This remarkable book provides a uniquely candid window into the opinions, ideas, and human values of the man Fortune called "one of the four key financial figures of the twentieth century." Step inside as Jack Bogle holds court on:
- The Vanguard ExperimentLearn how Vanguardformed to benefit investors, not managerschanged the fund industry.
- PersistenceBogle discusses how his strongest quality in establishing Vanguardstubborn persistencehas been the key to building a company that can stay the course.
- Principles He eschews contemporary buzzwords to emphasize corporate character, stewardship, and service to human beingsand demands that his company never lose its soul.
- Organizing for SuccessDriving home the mission of the firm, Bogle brings the crew aboard HMS Vanguard with inspiring calls to join in the battle for competitive success
- The LegacyBogle hammers home the importance of fair dealing, value, performance, and integrity.
John Bogle has been called the conscience of the mutual fund industry, but that tells only half the tale. Character Counts recounts the real-life struggles John Bogle endured in launching his crusade and seeing it through and the deeplyheld principles that he strove to instill in all who worked with him. At times both humorous and seriouslike the man himselfthis engaging and enlightening collection will be an indispensable addition to the library of every investment historian and Bogle aficionado.