A power-packed explanation of why outperforming the market is an investor illusion. Instead, the man who has been called the conscience of the investment industry recommends a simple, time-tested investment strategy--indexing--that can deliver the greatest return to the greatest number of investors. Why? Investing is a zero sum game where transaction costs, taxes, poor investment diversification, and poor market-timing (an affliction for most investors) hurts your portfolio more than it helps. Indexing eliminates that hurt. Bottom-line, if you can't be an index, why not invest in one. And you'll be all the happier and richer for it.
Reviews
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This primer from the founder of the Vanguard Mutual Fund Group, the father of the index fund, provides a relatively simple discussion for mutual fund investors. John Bogle is considered a hero by many investors, small and large. Thom Pinto's reading makes us feel like we're taking personal instruction from our "Uncle Jack." Pinto's pacing is just right for this sometimes complex topic. Even though the author does a good job of presenting the material simply, it takes Pinto's accomplished delivery to keep us fully connected. Listen to this terrific book if you're saving for retirement, saving for your kids' college education, or just using mutual funds as the great "get rich" strategy many believe they are. M.C. (c) AudioFile 2007, Portland, Maine
About the Author
John C. Bogle is Founder of The Vanguard Group, Inc., and President of the Bogle Financial Markets Research Center. He created Vanguard in 1974 and served as Chairman and Chief Executive Officer until 1996 and Senior Chairman until 2000. The Vanguard Group is one of the two largest mutual fund organizations in the world, with current assets totaling about $742 billion. Vanguard 500 Index Fund, the largest fund in the group, was founded by Mr. Bogle in 1975.
