The Bogleheads' Guide to Investing Paperback – September 28, 2007
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From the Back Cover
The Bogleheads' Guide to Investing
"If you master the concepts laid out in this book, you'll do very well."
"Kindness, integrity, and common sense can be scarce on Wall Street, but the Bogleheads have each in abundance. Reading The Bogleheads' Guide to Investing is like learning investing from your grandfather. There's a lifetime of wisdom packed into these pages, coupled with a sincere desire to help investors meet their goals. Jack Bogle will be proud!"
Don Phillips, Managing Director, Morningstar
"The Vanguard Diehardsa.k.a. the 'Bogleheads'are easily the planet's most well-informed, congenial, and successful group of individual investors. At long last, they're letting the general public in on their solutions, their secrets, and their strategies. If you're about to retire, are planning to retire, or are even thinking of retiring, you can't afford not to read this book."
William J. Bernstein, cofounder, Efficient Frontier Advisors, LLC
author of The Intelligent Asset Allocator and The Four Pillars of Investing
"More than thirty years ago John Bogle started a war in the mutual fund industry. His weapon was low fees, and his shield was common sense. In this book, three ardent followers sagely outline Bogle's approach that has benefited millions and will benefit millions more."
Richard Ferri, CFA, President, Portfolio Solutions LLC
author of The ETF Book: All You Need to Know About Exchange-Traded Funds (Wiley/December 2007)
"Those investors who have the courage, discipline, and wisdom to follow the sound financial and investment strategies of The Bogleheads' Guide to Investing are virtually certain to achieve results superior to not only the vast majority of individual investors, but the vast majority of professionals as well. What is perhaps more important is that the quality of their lives will be improved because they will have more time to spend on the really important things in their lives."
Larry Swedroe, author of The Only Guide to a Winning Investment Strategy You'll Ever Need
About the Author
Taylor Larimore, Mel Lindauer, and Michael LeBoeuf are three millionaires who met online and combined their investing experience and efforts to help others. The authors have contributed over 40,000 posts on the Diehards and Bogleheads forums. You can read more about each of them in "About the Authors" on page 293.
- Item Weight : 14.1 ounces
- Paperback : 336 pages
- ISBN-10 : 0470067365
- ISBN-13 : 978-0470067369
- Product Dimensions : 6 x 0.93 x 9 inches
- Publisher : Wiley; 1st Edition (September 28, 2007)
- Language: : English
- Best Sellers Rank: #291,139 in Books (See Top 100 in Books)
- Customer Reviews:
Top reviews from the United States
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Money is something we all have to think about multiple times a day and those decisions have a long lasting effects on our future selves YET most of us don't get a proper education on how to manage our finances!
This book got me thinking long term. Do I need to buy the most expensive phone? Do I need a brand new car? Can I put this charge on my credit card and pay it off in full at the end of the month?
Maybe my hard earned money is better spent on my future, that one dollar saved today will be $8-$10 when I retire if I instead invest it. It taught me to not get fancy with mutual funds that peel off 1-3% in fees and instead stick to low cost index funds. That little 1% savings on fees over time could mean retiring when I am 55 or having to work another 10 years or more.
As the financial crisis was hitting the US in 2008, and the stock market was tanking I was buying. I had quickly paid off my debts and my standard 10% retirement savings per month went to 20%, then 30%. By 2009 I was putting away nearly 50% of my income into my retirement and brokerage accounts.
Ten years later I am debt free and in a much better financial situation than my peers. Buy this book, educate yourself and invest in your future.
The book glances on non-investment personal finance topics including adopting a net worth mindset, emergency funds, estate planning, and insurance. The insurance chapter was very valuable and exposed several fallacious rationalizations people apply to insurance purchase decisions.
The meat of the book is investing. Investing is covered in great detail, including in-depth descriptions of various investments, how they work, and how (or if) you should use them. The coverage of the effect of taxes on your investments is detailed and invaluable. The costs of investing are examined, and when you know where to look, you may find some nasty surprises in your current investments, especially your 401k plan!
The entire book is highly opinionated, and I found that refreshing. The authors know what they're talking about, have a good idea of what the average person saving for retirement needs to do, and never fail to call it the way they see it. The writing style is fact-based advice, with humorous sayings sprinkled about, and is best described as "grandfatherly."
The chapter on behavioral economics was an eye-opener. I thought that I was smart enough not to fall for any of those traps. I smugly read through the first half of them, then recognized myself in "Paralysis by Analysis." Oh my. That gave me some food for thought, and a new outlook.
I did find the chapter on Asset Allocation to be lacking in practical advice. It only glanced on how to make an asset allocation for yourself, and didn't address the difficulties of balancing an asset allocation over multiple tax-advantaged accounts that have contribution limits and withdrawal penalties. (But there's a list of recommended reading in the back, and maybe one of those books will have more information on this topic.)
Having just finished the book, I'm going back through it and making a list of information I need and actions to take. I finally have a direction to go in, and not just more conflicting details!
I am fairly new to investing and felt that I was uncomfortable making choices as to what to choose as investments. This book gave me a great explanation of the many different choices to make in investing and how to go about them. This book actually covers more than just investing though, it touches on retirement and how to plan for it, wills, trusts, powers of attorney, insurance and a few other subjects that I felt were great topics and they covered well enough for me to understand, but didn't go into so much detail that I couldn't follow everything. In my honest opinion, every single school should be using this book and teaching kids about all the topics in here in 12th grade before they are released into the world. I've never read a book so fast in my life. In fact, I think that I did more reading in this book than I did in all of high school. It kept me interested and I don't feel that any of it was a waste of my time.
For more experienced investors, I could even see this being a great refresher on topics, and I know that in the future I will be referring back to it when making choices in the future.
Top reviews from other countries
Un libro completísimo, que cubre todos los aspectos de la inversión, desde la planificación de la inversión, selección de activos, fiscalidad, brokers, etc. Además está muy bien organizado, de forma que puedes ir directamente, a los temas que te interesan sin necesidad de leer lo demás para entender esa parte.
El libro está lleno de referencias a webs y foros gratuitos para obtener más información o ayuda posterior.
Además, como va al grano el libro es corto y se lee con mucha facilidad.
Para el que no conozca la filosofía Boglehead se enfoca en comprar y mantener fondos o ETFs indexados a largo plazo.
Tiene la pega de que está enfocado al lector estadounidense y algunas partes como la relativa a la fiscalidad no es extrapolable al caso español.