"If Bogle writes it, it’s worth reading. His latest, Don’t Count On It, is a collection of 35 essays, every one of them filled with wisdom and insight. . . While I have read Bogle’s views on these issues many times, I’m always impressed with the quality of his writing (Where else can you read quotations from Adam Smith to Winston Churchill to Cato?), the wit and humility he shows and his passion to help investors. The book is a compelling read, one that in effect tells the story and mission of a great man. We’re lucky and privileged to have him fighting on our side. As Bogle noted in his book, Machiavelli “described the accumulation of worldly ‘glory’ as the motivating principle that drives leaders to undertake ‘great enterprises’ and do ‘great things’ on behalf of their fellow citizens and not just themselves.” Hard to find a better description of Bogle himself." (MarketWatch)
“Mr Bogle’s prescription for a better system is relatively simple: to demand proper fiduciary management from money managers. They must prioritise client interests, act as responsible corporate citizens, charge reasonable fees and eliminate conflicts of interest. Amen to that. It may sound like nostalgia from an old-timer, or idealism from a visionary. But without such changes, investors and society will continue to be short-changed as the financial community carries on regardless.” (Financial Times)
“In Don’t Count on It! Reflections on Investment Illusions, Capitalism, “Mutual” Funds, Indexing, Entrepreneurship, Idealism, and Heroes, Bogle hammers at what he labels the cost matters hypothesis: Whether markets are efficient or inefficient, investors as a group must fall short of the market return by precisely the amount of the aggregate costs they incur. It is the central fact of investing. Not surprisingly, the book deals extensively with the low-cost innovation for which Vanguard is best known: the stock index mutual fund. When the company first made indexing available to small investors in 1975, critics derided the notion as “Bogle’s folly.” To Bogle, however, the benefits to investors were irrefutable. . . The impact of indexing has been so great that a second, hugely important contribution by Vanguard has been overshadowed. Vanguard originated the now standard segmentation of bond funds into short-, intermediate-, and long-term varieties. Bogle was enshrined in the Fixed Income Analysts Society Hall of Fame for this innovation. The author of Don’t Count on It! does not dwell on such honors, which include being named one of the world’s 100 most powerful and influential people by Time magazine. In fact, Bogle devotes the final section of his book to tributes to four of his own heroes: Walter Morgan, economist Paul Samuelson, investment guru Peter Bernstein, and Dr. Bernard Lown, a Nobel laureate whom he credits with keeping him alive in defiance of a mystifying heart ailment. Bogle also shows modesty in sharing credit for his contributions to the field and in downplaying his own theoretical expertise. His unashamed display of such old-fashioned virtues, as well as his heretical view that running a business is not entirely about maximizing the wealth of the owners, has earned him the nickname ‘St. Jack.’” (Financial Analysts Journal)
Good luck in all your investments and thank you for reading this review.
Again, this book provides terrific information for those of us who are just regular middle class investors who need wisdom in order to avoid being taken advantage of.
Some day, my kids will inherent my personal library of Bogle books and be very happy they did.
i would recommend this book and mr bogle's other books to anyone that is even thinking of investing in any market. Read morePublished 5 months ago by george angello
Author John Bogle spent his life in investing and advising, all of us, of the best long term values for our savings.Published 10 months ago by F. J. Wulff
I agree with the 5 star ratings of this book, a series of essays which can be read independently. The reader can select to read all or simply those of interest. Read morePublished 11 months ago by Julieta
Way too much repetition! OK, Bogle is great. But the format leads to repeating the same story over and over and over. Mr. Bogle has written more than a handful of books. Read morePublished 12 months ago by geoffrey c. kelly
The book did not discuss the issues that I thought it would. I would not recommend this book to amateur investors.Published 17 months ago by JILLBCLARK
Bogle is the greatest! This group of essays is informative and covers his basic investment philosophies. Then these basics are restated over and over. Read morePublished 23 months ago by Susan K. Hall
Again, this book provides terrific information for those of us who are just regular middle class investors who need wisdom in order to avoid being taken advantage of. Read morePublished 24 months ago by Judith
The book was priced right and arrived very quickly. The quality of the book was very good.I'm very happy with the purchase of this book.Published on August 27, 2012 by Just George
Good book, except for the repetition. John Bogle has given an amazing number of speeches telling about the same history. Read morePublished on September 8, 2011 by Amazon Customer