Bibliograph

The clash of the cultures, investment vs. speculation, John C. Bogle

Type

Label

The clash of the cultures, investment vs. speculation, John C. Bogle

Language

eng

Bibliography note

Includes bibliographical references and index

Illustrations

illustrations

Index

index present

Literary Form

non fiction

Main title

The clash of the cultures

Nature of contents

bibliography

Oclc number

748330569

Responsibility statement

John C. Bogle

Sub title

investment vs. speculation

Summary

Over the course of his sixty-year career in the mutual fund industry, Vanguard Group founder John C. Bogle has witnessed a massive shift in the culture of the financial sector. The prudent, value-adding culture of long-term investment has been crowded out by an aggressive, value-destroying culture of short-term speculation. Mr. Bogle has not been merely an eye-witness to these changes, but one of the financial sector<U+2019>s most active participants. In The Clash of the Cultures, he urges a return to the common sense principles of long-term investing. Provocative and refreshingly candid, this book discusses Mr. Bogle's views on the changing culture in the mutual fund industry, how speculation has invaded our national retirement system, the failure of our institutional money managers to effectively participate in corporate governance, and the need for a federal standard of fiduciary duty. Mr. Bogle recounts the history of the index mutual fund, how he created it, and how exchange-traded index funds have altered its original concept of long-term investing. He also presents a first-hand history of Wellington Fund, a real-world case study on the success of investment and the failure of speculation. The book concludes with ten simple rules that will help investors meet their financial goals. Here, he presents a common sense strategy that "may not be the best strategy ever devised. But the number of strategies that are worse is infinite."

Table Of Contents

The clash of the cultures -- The double-agency society and the happy conspiracy -- The silence of the funds : why mutual funds must speak out on the governance of our nation's corporations -- The "mutual" fund culture : Stewardship gives way to salesmanship -- Are fund managers true fiduciaries? The stewardship quotient -- The index fund : the rise of the fortress of long-term investing and its challenge from short-term speculation -- America's retirement system -- too much speculation, too little investment -- The rise, the fall, and the renaissance of Wellington Fund : a case study -- investment wins, speculation loses -- Ten simple rules for investors and a warning for speculators

Target audience

adult

Classification