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The Bogleheads' Guide to Investing Hardcover – January 3, 2006
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"The Bogleheads march readers smartly through the basics...[and] pepper the text with practical tips and Web links." (Bloomberg.com, March 2006)
"The book provides sound advice on a variety of issues including mutual funds, bonds, diversification and taxes." -- Lynn O'Shaughnessy, The San Diego Union-Tribune (July 2006)
" ... if you're planning on investing for the purpose of building a stable, lifelong economic backbone, I couldn?t recommend this book more highly. It's a well-conceived explanation, from top to bottom, of an investment philosophy that will create a life full of steady gains and sustainable wealth." -- (www.thesimpledollar.com March 2007)
"Generically, the Bogleheads are folks who admire John Bogle, founder of the Vanguard mutual fund company . . . So, why did they write this book? Probably for a little ego boost. Also, perhaps, to share a lifetime of accumulated knowledge, to help other people achieve their financial goals, and to leave the world a slightly better place. Are these guys nuts,or what? Anyway, they did a good job. This is definitely a book for beginning investors, but the facts are solid, the advice almost impossible to argue with . . . . If you're looking for a financial book you can trust, we can't think of a better candidate than this, except possibly for one of the books by the Master (i.e., John Bogle) himself. If you want to get started investing, if you need a new investment plan, or if you'd like to validate an existing plan, we suggest that you sit down, read this book, and trust what you read. How rare is that?"
—Roy Weitz, FundAlarm.com (December 2005)
"The chief Boglehead is Taylor Larimore, 81, a former official at the Small Business Administration . . . He and a few other Vanguard fans started the Diehards forum in 1998. Now Larimore and two other longtime Diehards—Mel Lindauer, 67, a retired owner of a graphic arts business, and Michael LeBoeuf, 63, a former management professor—have written The Bogleheads Guide to Investing . . . . The book’s main themes should come as no surprise. In his own writing, Bogle emphasizes diversification, low costs, and index funds; here, his followers try to make those notions graspable for beginners . . . . Also, unlike most investing authors, the Bogleheads offer advice on topics from taxes to insurance to estate planning ."
—Penelope Wang, MoneyMagazine (January 2006).
"The new "Bogleheads Guide to Investing!" Gotcha! A must-read!"
—Paul Farrell, Marketwatch.com
"If you master the concepts laid out in this book, you'll do very well."
"'The Bogleheads' Guide' is both a textbook for beginners and a refresher course for old hands. It blends elements of financial-planning primers like 'The Wealthy Barber' with tips on why it pays to be cheap, a la 'The Millionaire Next Door.' ... The Bogleheads march readers smartly through the basics of how much they need to save for retirement, how to allocate their assets and when to rebalance their portfolios. The authors steer through the minefield of taxes and warn neophytes to master portfolio-gutting emotions including greed and fear."
—James Pressley, Bloomberg.com
“If you are looking for a simplified and methodical do-it-yourself guide that will enable you to manage your investment portfolio, this is the book to turn to.”
—The Economic Times
Top customer reviews
Before finding this gem of a book, I was reading several success books this year like "Success Principles" by Canfield, "Success Through a Positive Mental Attitude" by Hill & Stone, "The Richest Man in Babylon" by Clason, "The Templeton Plan" by Sir Templeton, to name a few. One book led to another and I ended up with "Smart Couples Finish Rich" by David Bach, which led me to Graham's "The Intelligent Investor". I first read Graham's 1972 edition (thanks to LA public library) and was looking for more current examples, so I purchased the 2003 edition with commentaries by Jason Zweig, which proved to be a very worthwhile upgrade.
While looking up some things I didn't understand online, I repeatedly came across the bogleheads forum, so I signed up as a free member and asked a question. The bogleheads were so helpful that I not only got my question answered, but also understood that the people there were genuinely trying to help. One of the bogleheads led me to a forum page which had book recommendations, so I purchased the kindle edition of this book.
And the moment I started reading the book, I knew this book had the answers for most of my questions. I finished reading it in two days! I just wanted to do this homework done asap and take care of my 401(K)s and IRAs. I had done a big timing mistake six years ago and went highly conservative (80% bonds, 10% stocks and 10% REITs). Luckily it was before the crash, so I had netted some profits, but I waited too long to get in to stocks again. Then I changed jobs and never paid attention! And the stock market had its best bull run for the past 5 years (no one told me!)! Wish I had put my money in a target retirement fund and went to sleep, but that wasn't the case :-(
This excerpt from the book sums it all up about the authors and this book:
"We have no hidden agendas. We aren't financial planners or money managers looking for clients. We don't have a high-powered, get-rich-quick weekend seminar to sell you. We are all well over 70 years of age, financially secure, and haven't missed a meal yet. If you want to read the book at the bookstore, the library, or borrow it from a friend, that's fine with us."
So you are not getting a book that just skims a few things and then asks you to look into the authors' other books or their youtube channel or sign up for their weekly digest!
The book begins with a quick introduction on the philosophy of borrowing vs. spending vs. saving and investing. The initial chapters have some valuable general advice (like car buying and running a part-time business, for example). But the main content is all about sound investing principles, facts and strategies. The book also discusses enough about taxes, which a lot of investing books seem to just skim or totally ignore. There is also enough material covering how to manage one's emotions when investing. I found some of the material to be like "Ben Graham Simplified".
This is one of the very few books that has the guts to not lick the boots of network marketing businesses. (I have personally wasted a lot of my time and money in one such business.) Most other "success authors" would like to sell their books to network marketing businesses in bulk, so they mostly praise some company or the other. My personal experience coincides with those of the authors in that you are better off financially by staying away from network marketing businesses. If you are business-minded, the authors recommend running a business you are really passionate about which coincides with your interests, education and/or experience. Couple the income you produce from your job and/or business with the investing principles explained in this book, you will have a solid plan and a financially successful life!
- tax ramifications of types if investments within and outside of tax deferred accounts.
- the power of diversification and rebalancing (way better explained and motivating than anything I have read before)
- the types if costs that eat up returns and growth differences in investments based on expenses
- the best explanations I have read on bonds and bond funds (and EFTs) and implications for strategy
I have been reading numerous books on investing, including a classic or two. This is, to me, by far the best. So clear and so specific.
After all that, I slept through the 2nd-worst (2007) crash and recovery, and came out just fine. It worked. Do not make it complex or difficult. Fact is almost every "sector-bet" I tried performed worse long-term, than my core "Dumb and Simple" Total-Market (stock and bond) Funds and ETFs.
Anyone midlife or later (preferably way-earlier), must be thinking of their own retirement plans. It ain't that tough. You can easily do it yourself following the simple principles pioneered by John Bogle and similar righteous-gurus. Even if you (must) use a brokered company plan, knowing what YOU want is essential. YOU must (and can) control your own future.
Just do-it, NOW. No amount is too little to start, and once in-control of your own future, you'll thank yourself many times later.
This is a must for personal investment finance for retirees and those working toward a healthy retirement.
I had been a fan of the Bogle mentality but I was never able to confidently explain why out loud. It is now beaten deep in to me.