John Bogle on Investing (Hardcover)

2015 INTRODUCTION TO THE CLASSIC EDITION OF JOHN BOGLE ON INVESTING: THE FIRST 50 YEARS IX

FOREWORD: PAUL A. VOLCKER XXIX

INTRODUCTION: WILLIAM T. ALLEN XXXI

PREFACE XXXV

SOME WORDS OF APPRECIATION XLIII

Part I Investment Strategies For The Intelligent Investor

1 Investing in the New Millennium: The Bagel and the Doughnut 5

2 The Clash of the Cultures in Investing: Complexity vs. Simplicity 17

3 Equity Fund Selection: The Needle or the Haystack? 33

4 Risk and Risk Control in an Era of Confidence (or Is It Greed?) 47

5 Buy Stocks? No Way! 66

6 The Death Rattle of Indexing 82

7 25 Years of Indexing: When Active Managers Win, Who Loses? 98

8 Selecting Equity Mutual Funds 108

9 The Third Mutual Fund Industry 122

Part II Taking On The Mutual Fund Industry

10 Mutual Funds: The Paradox of Light and Darkness 141

11 Economics 101: For Mutual Fund Investors . . . For Mutual Fund Managers 153

12 Honing the Competitive Edge in Mutual Funds 168

13 Creating Shareholder Value: BY Mutual Funds . . . or FOR Mutual Fund Shareholders? 180

14 The Silence of the Funds: Mutual Fund Investment Policies and Corporate Governance 196

15 Losing Our Way: Where Are the Independent Directors? 208

Part III Economics And Idealism: The Vanguard Experiment

16 Vanguard—Child of Fortune 221

17 The Winds of Change: The Vanguard Experiment in Internalized Management 231

18 Deliverance 246

19 The Lengthened Shadow, Economics, and Idealism 260

20 On the Right Side of History 270

Part IV Personal Perspectives

21 Changing the Mutual Fund Industry: The Hedgehog and the Fox 291

22 The Majesty of Simplicity 307

23 The Things by Which One Measures One’s Life 312

24 Telltale Hearts 316

25 Press On Regardless 327

Part V The Princeton Thesis

The Economic Role of the Investment Company 341

INDEX 451