Autorentext

JOHN C. BOGLE was the founder and former chairman of the Vanguard Group of mutual funds and President of its Bogle Financial Markets Research Center. After creating Vanguard in 1974, he served as chairman and chief executive officer until 1996 and senior chairman until 2000. Bogle was the author of ten books, including Enough.: True Measures of Money, Business, and Life, The Little Book of Common Sense Investing, and Clash of the Cultures: Investment vs. Speculation, all published by Wiley.

Klappentext

John C. Bogle shares his extensive insights on investing in mutual funds Since the first edition of Common Sense on Mutual Funds was published in 1999, much has changed, and no one is more aware of this than mutual fund pioneer John Bogle. Now, in this completely updated Second Edition, Bogle returns to take another critical look at the mutual fund industry and help investors navigate their way through the staggering array of investment alternatives that are available to them.

Written in a straightforward and accessible style, this reliable resource examines the fundamentals of mutual fund investing in today's turbulent market environment and offers timeless advice in building an investment portfolio. Along the way, Bogle shows you how simplicity and common sense invariably trump costly complexity, and how a low cost, broadly diversified portfolio is virtually assured of outperforming the vast majority of Wall Street professionals over the long-term.

• Written by respected mutual fund industry legend John C. Bogle
• Discusses the timeless fundamentals of investing that apply in any type of market
• Reflects on the structural and regulatory changes in the mutual fund industry

• Other titles by Bogle: The Little Book of Common Sense Investing and Enough.
  Securing your financial future has never seemed more difficult, but you'll be a better investor for having read the Second Edition of Common Sense on Mutual Funds.

  Inhalt

  Foreword for the 10th Anniversary Edition ix

  Foreword for the Original Edition xiii

  Preface to the 10th Anniversary Edition xv

  Preface to the Original Edition xix

  Acknowledgments for the 10th Anniversary Edition xxvii

  Acknowledgments for the Original Edition xxix

  About the Author xxxi

  Part I: On Investment Strategy 1

  Chapter 1 On Long-Term Investing 3

  Chance and the Garden

  Chapter 2 On the Nature of Returns 45

  Occam's Razor

  Chapter 3 On Asset Allocation 77

  The Riddle of Performance Attribution

  Chapter 4 On Simplicity 109

  How to Come Down to Where You Ought to Be

  Part II: On Investment Choices 143

  Chapter 5 On Indexing 145

  The Triumph of Experience over Hope

  Chapter 6 On Equity Styles 191

  Tick-Tack-Toe

  Chapter 7 On Bonds 217

  Treadmill to Oblivion?

  Chapter 8 On Global Investing 251

  Acres of Diamonds

  Chapter 9 On Selecting Superior Funds 277

  The Search for the Holy Grail

  Part III: On Investment Performance 303

  Chapter 10 On Reversion to the Mean 305

  Sir Isaac Newton's Revenge on Wall Street

  Chapter 11 On Investment Relativism 329

  Happiness or Misery?

  Chapter 12 On Asset Size 347

  Nothing Fails Like Success

  Chapter 13 On Taxes 373

  The Message of the Parallax

  Chapter 14 On Time 401

  The Fourth Dimension-Magic or Tyranny?

  Part IV: On Fund Management 423

  Chapter 15 On Principles 425

  Important Principles Must Be Inflexible

  Chapter 16 On Marketing 445

  The Message Is the Medium

  Chapter 17 On Technology 465

  To What Avail?

  Chapter 18 On Directors 483

  Serving Two Masters

  Chapter 19 On Structure 503

  The Strategic Imperative

  Part V: On Spirit 533

  Chapter 20 On Entrepreneurship 535

  The Joy of Creating

  Chapter 21 On Leadership 549

  A Sense of Purpose

  Chapter 22 On Human Beings 567

  Clients and Crew

  Afterword 585

  Appendix I Some Thoughts about the Current Stock Market as 2010 Begins 591

  Appendix II Some Thoughts about the Current Stock Market as 1999 Begins 599

  Notes 607

  Index 613