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Bogle on Mutual Funds: New Perspectives for the Intelligent Investor Paperback – October 4, 1994
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Covered is everything from stocks, bonds, money market funds, indexing, asset allocation, expense ratio's and the risks inherent not only in investing but in not investing (e.g. the erosion of the dollar vs. inflation in "safe" investments). Bogle utilizes numerous graphs and statistical data throughout the book to help make his point and to allow the reader increased comprehension.
It is important to note that this book was published in the early 1990's. Since then capital gains tax laws have changed and the Roth IRA was yet to be created. For more up-to-date information I would recommend reading Bogle's newer book, Common Sense on Mutual Funds. Nevertheless, Bogle On Mutal Funds is a great place to start educating yourself to become more financially savvy. This book has been invaluable to me and I believe it is key to my investing success. I find myself often referring to it, expecially now in these turbulent market times just to hear Mr. Bogle remind me to, "stay the course" and I will be rewarded. No wonder so many admirers refer to the beloved Mr. Bogle as, "Saint Jack."
The first three chapters are the basics for new investors. The first chapter explains the benefits of compound interest, and how high returns for a long time earn you much more. The second chapter looks at inflation, income, and principal risk. The implication is to choose between the risks and rewards of equities and bonds. The former gives you more potential for gains, but can be more volatile. If you are going to be a very long-term holder, equities will be better than bonds. The third chapter looks at the basics of mutual funds and how they work.
The fourth through the seventh chapters look at how to select various types of mutual funds (equities, bonds, money markets, and balanced). In the eighth chapter, you can find out how to get information about specific mutual funds. Most comes from prospectuses and Morningstar.
Many of the key insights come in chapters nine through eleven. In the ninth chapter, you will learn the advantages of index funds (you will beat almost all other funds of the same type). In the tenth chapter, the importance of finding funds with low costs is explained. In the eleventh, you will find out about the tax costs associated with a high turnover of portfolios.
The twelfth chapter looks carefully at the rules of asset allocation. The thirteenth chapter provides model portfolios for how to implement various types of strategies for asset allocation.Read more ›
Most Recent Customer Reviews
As usual, one of Jack Bogle's inspiring books. Readers need to find our why the Vanguard Group, the mutual fund company he founded is on the side of the investor.Published 17 days ago by Prof. Buck
Classic; must read for anyone considering putting one penny in financial markets.Published 19 days ago by M. Leidy Fogle
Excellent book for the novice and intermediate investor. I recommend as a primer for people looking to invest in mutual funds. Read morePublished 7 months ago by Amazon Customer
IMHO this is the best book I've ever read on the basics of investing.Published 9 months ago by G. L. Simms