Download Book Common Sense on Mutual Funds New Imperatives for the Intelligent Investor – lavitamin.us
T he was or in some instances how wrong he was in his predictions of where the mutual fund industry would be I istened to this on audio and the problem with these update sections was that they were introduced by the narrator saying something Inside the Hornets Head like Ten year update but there was no indication when the update was over and you were backistening to the original book This would have been a good place to have a second narrator to help the Imagination According to Humphrey (According to Humphrey listener understand If you are a well informed investor you probably know aot of the rules of efficient investing Sexy Reversed Fairy Tales like purchasingow cost mutual funds and investing in index funds instead of actively managed funds This book really provides the detailed background on how those rules came about and not much Overall this is a good review of the economics and the business of mutual funds and it provides the backgrounds into efficient stock and bond investing It provides a Oh. My. Gods. (Oh. My. Gods., lot of information in some ways overwhelming This is the newest edition of one of the best investing books I ve read I was curious to hear Bogle s thoughts on the recent economic situation and his reflections on his sage advice ten years earlier Theast ten years although totally unprecedented and unpredictable have certainly borne him outThis book doesn t actually talk much about the stock market or asset allocation It talks specifically about the mutual fund industry This book doesn t give the standard Phoebe’s Fair Valentine (Oh. My. Gods., lines about beating the market and picking mutual funds It s even uniue among books about passive investing in that it This is not the book to read if you reooking for a primer on investing or retirement planning that includes Bogle s philosphy Instead this is the book to read once you re underway and have some knowledge of what you re doing from his other entry The Ground beneath her Feet level books or after you ve started with the Boglehead s seriesHe goes into depth in an easy to read style about the mutual fund industry and why his philosophy on investing hold index funds don t time the market passive investing etc is both sound and proven given these factsA excellent read probably none better should you want depth on the why and the numbers to back it up Just don t expect much advise or hand holding on the how This may not need to be added as a reference book to have in youribrary as you navigate your own investments from time to time but can make a good and enlightening one time read if only to shore up support for Bogle s investing philosphy borrowed from the Killer Pancake / The Cereal Murders libraryLast the 10th Ed adds his updated reflections at the end of each sectionooking back 10 years from when the book first came in print A very thorough blueprint for the individual investor Bogle believes in investor discipline Lo Que la Reina Quiere (Sexys Cuentos de Hadas Al Revés nº 1) long term focus diligent saving and the use of passively managed index funds By clearlyaying out the four dimensions of investing risk reward time cost Bogle makes a strong case for avoiding high cost actively managed mutual funds or funds which have high turnover or high speculation This strategy will only William Gibson lose the investor money by raising costs as the actively managed fund tries often in vain to outperform the market Bogle cites the research which says that actively managed funds very rarely can outpace the average index of the stock market due to the fees which eat into returns As he stresses COSTS ARE FOREVER Certainly not aight or easy read Its very dense with financial Nancy Drake lingo and visuals I would not recommend for somebody just trying to get started with investing and who is not yet familiar with aot of the financial terms I found it hard to keep up with at times and expected the book to cover the basics a Bandbox little better It s also uiteengthy especially the revised version which adds a Everglades (Doc Ford Mystery, lot of updated content to the alreadyong original version not necessarily a bad thing Bogle s shorter book The Little Book of Common Sense Investing would be appropriate for somebody Kicking It (Alex Craft, looking for aess bulky read I kind of wish I had chosen the shorter accessible version but still eye opening nonetheless Bogle s philosophy has created a oyal following of individual investors and ed to huge growth for Vanguard and has helped enlighten those investors to the fact that they don t need to rely on fund managers whose interests may not align with their own. For intelligent investing as he analyzes costs exposes tax inefficiencies and warns of the mutual fund industry's conflicting interests Emphasizing Sapphamire (Dragons of Dragonose long term investing and asset allocation Bogle offers sensible solutions to the fund selection process and reveals what it will take to make it in today's chaotic market Securing your financial future has never seemed difficult but afteristening to this revised and updated edition of COMMON SENSE ON MUTUAL FUNDS you will become a better investor From stock and bond funds to global investing and index funds this audiobook will help you regain your financial footing and make informed investment decision.
For Bogle converts you won t find much new in this book For everyone else and that s most of you you really ought to read this book An unflinching attack on America s financial industry Bogle explains how the average investor is separated from their money I recently finished reading Common Sense on Mutual Funds New Imperatives for the Intelligent Investor by John C BogleBelow are key excerpts from this book that I found to be insightful Investing is an act of faith We entrust our capital to corporate stewards in the faith at The Donovan Legacy (Donovans least with the hope that their efforts will generate high rates of return on our investments When we purchase corporate America s stocks and bonds we are professing our faith that theong term success of the US economy and the nation s financial markets will continue in the future To state the obvious the Breaking Down (The Garage, long term investor who payseast has the greatest opportunity to earn most of the real return provided by the stock market In my view market timing and rapid turnover both by and for mutual fund investors betray both a ack of understanding of the economics of investing and an infatuation with the process of investing My guidelines also respect what I call the four dimensions of investing 1 return 2 risk 3 cost and 4 time When you select your portfolio s ong term allocation to stocks and bonds you must make a decision about the real returns you can expect to earn and the risks to which your portfolio will be exposed You must also consider the costs of investing that you will incur Costs will tend to reduce your return andor increase the risks you must take Think of return risk and cost as the three spatial dimensions the ength breadth and width of a cube Then think of time as the temporal fourth dimension that interplays with each of the other three For instance if your time horizon is ong you can afford to take risk than if your horizon is short and vice versa Rule 1 Select Low Cost FundsRule 2 Consider Carefully the Added Costs of AdviceRule 3 Do Not Overrate Past Fund PerformanceRule 4 Use Past Performance to Determine Consistency and RiskRule 5 Beware of StarsRule 6 Beware of Asset SizeRule 7 Don t Own Too Many FundsRule 8 Buy Your Fund Portfolio And Hold It No matter what fund style you seek you should emphasize Passionate Kisses Boxed Set low cost funds and eschew high cost funds And for the best bet of all you should consider indexing in whichever style category you want to include There are three major reasons whyarge size inhibits the achievement of superior returns the universe of stocks available for a fund s portfolio declines transaction costs increase and portfolio management becomes increasingly structured group oriented and Destiny and Power less reliant on savvy individuals Four principal problems are created by this overemphasis on marketing First it costs mutual fund shareholders a great deal of money billions of dollars of extra fund expenses which reduces the returns received by shareholders Second thesearge expenditures not only offer no countervailing benefit in terms of shareholder returns but to the extent they succeed in bringing additional assets into the funds have a powerful tendency to further reduce fund returns Third mutual funds are too often hyped and hawked and trusting investors may be imperiled by the risks assumed by and deluded about the potential returns of the funds Lastly and perhaps most significant of all the distribution drive alters the relationship between investors and funds Rather than being perceived as an owner oi the fund the shareholder is perceived as a mere customer of the adviserOn a closing note on My Rocky Romance Diary (Diaries of Kelly Ann, leadership To wrap up thisitany I put before you both tentatively and humbly a final attribute of The Café Book leadership courage Sometimes an enterprise has to dig down deep and have the courage of its convictions to press on regardless of adversity or scorn Vanguard has been a truly contrarian firm in its mutual structure in its drive forow costs and a fair shake for investors in its conservative investment philosophy in market index funds and in shunning hot products marketing gimmicks and the carpet bombing approach to advertising so abundantly evident elsewhere in this industry today Sometimes it takes a Lord John And The Brotherhood Of The Blade (Lord John Grey, lot of courage to stay the course when fickle taste is in the saddle but we ha. John Bogle founder of the Vanguard Mutual Fund Group and creator of the first index mutual fund is an industry pioneer Over the years he has single handedly transformed the mutual fund business and today his vision continues to inspire investors It has been over a decade since the original edition of Common Sense on Mutual Funds was first published While much has changed during this time the importance of investing and the issues addressed in the original edition of this book have not Now in the Fully Updated 10th Anniversary Edition of COMMON SENSE ON MUTUAL FUNDS Bogle returns to update his in depthook at mutual funds and the business of invest.
Ve stood by our conviction In the ong run when there is a gap between perception and reality it is only a matter of time until reality carries the dayA recommended read in the areas of investing and eadership This Models Dont Eat Chocolate Cookies lengthy book was simple to understand but also profound and complex in its message Each section focuses on a different but crucial financial obstacle in the current mutual fund industryIt is aittle difficult to go through this book due to its ength but its well worth it to read through the content The main message shines through costs matter buy for the ong term If you re not a super informed investor this is a really valuable book to readMain take aways from this bookAll market index funds bond and stock are an ideal place for most people to invest money because Their expense ratios are Shalias Diary (Shalias Diary, low and efficient They reflect the market as a whole which over time tends to out pace actively managed mutual funds Actively managed mutual funds tend to have higher costs which further detracts from their effectiveness as a place to invest Over time those costs add up due to what you re missing with compound interest to a significant amount of money Also past performance of mutual funds and fund managers is not a good way to judge the future earnings because the market is too unpredictable Funds and managers that are hot for a few years typically will do much worse after a few years So when you have high funds you re essentially paying some one money than you need to to produce a portfolio that will mostikely not outpace the market He has tons of data on this A good way to balance investments is to hold your age in percentage in total market bond funds the rest can be put into a total market stock index fund The bond funds allow you to mitigate some of the risk from having all of your investments in the euities markets Bogle started the Vanguard investment company in the 70s to start the first total stock index fund and create a efficient way for a mutual fund company to operate He gives some views about Scruples Two leadership that are good but the main value are his ideas about the effectiveness of index funds and expense ratios Easy there John Bogle save a few pats on your back for meI really enjoyed this but its not for everyone It does have aot of dense information proving its point The point Investing in What Janie Found (Janie Johnson, low cost all market passively managed index funds for theong term is what you should doIf you need some one to prove it to you then read this book By about the 5th chapter Bogle will convince you of this then he l continue to take this fact and beat you over the head with it for the remainder of the book with tons of percentages and math and charts It really is presented as common sense Not a beginners guide to investing You have to be really geeky to read cover to cover There are other short comparatively books on investing that follow Bogle s investing theology A part geek can pick and choose what to read and come out with a ot of great advice Even if you know the basics invest for the Silver Tower / Strike Force / Shadow Command long haul in superow cost funds indexed to major market indexes there are certainly some here that is practical I found his arguments concerning owning foreign stock interesting A few tidbits you can feel comfortable not owning foreign for a number of reasons including currency risk Also he made an interesting argument that much of the business done by companies in the SP 500 for example is foreign Anyways glad I read it but certainly not Explosive Acts light reading Common Sense on Mutual Funds by John Bogle is a substantial book It is uiteong Reading the newest version the 10th anniversary edition adds plentiful commentary making this even Shadowbridge (Shadowbridge, longer Bogleikes to offer as complete an argument as he can for ow cost index funds and I personally found it uite a bit beyond what I was expecting I enjoyed the voice of the author He presented his information in a casual manner although with uite a bit of repetition Perhaps it wasn t exactly repetition perhaps it was describing nuances to his arguments This was for completeness but hurt readability And with this 10th anniversary edition the author decided that every few pages or minutes on the audiobook he would break in with an update These were often interesting with Bogle saying how correc. Ing helping you navigate through the staggering array of investment options found in today's evolving investment andscape Timely and timeless this important audiobook examines the fundamentals of mutual fund investing in turbulent market environments and offers valuable guidance for building an investment portfolio Along the way Bogle shows you that simplicity and common sense still trump costly complexity and that a ow cost broadly diversified portfolio continues to be the best way to build wealth at the owest cost and risk and will almost always outperform expensive actively managed mutual funds Throughout Bogle skillfully presents a platform.
DOWNLOAD Common Sense on Mutual Funds New Imperatives for the Intelligent Investor
Download Book Common Sense on Mutual Funds New Imperatives for the Intelligent Investor – avitamin.us
John Clifton Jack Bogle born May 8 1929 is the founder and retired CEO of The Vanguard Group He is known for his 1999 book Common Sense on Mutual Funds New Imperatives for the Intelligent Investor which became a bestseller and is considered a classic More on