JOHN BOGLE THE CLASH OF CULTURES PDF

This is John Bogle’s tenth book and he surely does celebrate in style. I have read most of Mr Bogle’s books and The Clash of the Cultures is definitely the one. I read Clash of the Cultures: Investment vs. Speculation by Vanguard founder John Bogle. It’s a wonderful book outlining what true investing is. John Bogle’s story is an oft-told tale, yet even Bogle junkies will learn some fascinating new facts from the latest book by the founder of the Vanguard Group.

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The Clash of the Cultures is the latest and perhaps best book by the founder of Vanguard Group. As in his previous books, Bogle is a master of the clear point and the pithy quote – from the investment writings of John Maynard Keynes and Benjamin Graham, pension adviser Keith Ambachtsheer and Bogle’s old mentor the late Walter L.

He sheds new light onthe dramatic change in the culture of the mutual fund industry, themultiple ways in which speculation has invaded our retirementsystem, and the need for a federal standard of fiduciary duty.

Speculation by John C.

The Clash of the Cultures: Investment vs. Speculation by John C. Bogle

bogpe Bogle has witnessed a massive shift in the culture of the financial sector. 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. The Clash of the Cultures: To see what your friends thought of this book, please sign up. Here, he presents a common sense strategy that “may not be the best strategy ever devised.

Invest in indexed funds with low fees. I found his chapter on retirement in America especially insightful.

The Clash of the Cultures : John C. Bogle :

Investors spend so much time joohn hot asset classes and hot fund managers that they end up buying high and selling low, all the while incurring transaction costs.

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Just a moment while we sign you in to your Goodreads account. His experience and expertise allow him to assess the damage that self-serving money managers and corporate directors have done to the common investor. Other changes must necessarily be forced upon the participants via the regulatory route. Flap copy During the course of his sixty-one year career, mutual fundpioneer and Vanguard Group founder John C.

Mar 27, David Carrasquillo rated it it was amazing Shelves: Why didn’t I hear about him 30 years ago??? The author appears to argue in the later chapters that those either substantially overlap or are identical, but he never makes that argument explicit. In short, a both legal- and mental framework which cares for owners first and discards the three most dangerous words in the English language: There are no discussion topics on this book yet.

Too long to read the whole thing. Morgan, as well as the Gospels of Luke and John. Jan 10, Stephen Gallup rated it liked it. Bogle will serve many well; I choose to adhere to his creed of favoring investment in lieu of speculation and simply interpret this message differently from how he does.

Refresh and try again. In The Clash of the Cultures, he urges a return to the common sense principles of long-term investing. Be the first to ask a question about The Clash of the Cultures. Hepoints out with clarity the inherent conflicts present throughoutour financial markets, most notably between the investor’sinterests and those of many financial professionals.

In The Clash of the Cultures, he urges a return to the common sense principles of long-term investing. After that the author talks about the agency problem and the happy conspiracy between mutual funds and company executives 2. Return to Book Page. Bogle brings invaluable historical perspective to current issues ranging from high-frequency trading to the looming crisis in the U.

The problem is that today capital formation accounts for 0.

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I learnt a few things about investing. Would you like to change to the site? Instead, he too often moralizes and calls on money managers to repent and culturew their own self-interested behavior.

Description Recommended Reading by Warren Buffet in his March Letter to Shareholders How speculation has come to dominate investment—a hard-hitting look boglf the creator of the first index fund. The Clash of the Cultures took me a long time to get through.

Bogle advances his message further in The Clash of Cultures. This book will teach you, plain and simple, the difference between a real economy and an speculative one. 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.

But as an individual investor whose best efforts have achieved lackluster results, and as a loyal, contributing employee let go by a formerly bold and innovative company that is now just running scared, I found the content very disturbing. The many first-hand experiences he recounts includethe creation of the first index fund and the creation of the firstexchange-traded fund; and his critical role in the rise, the fall, and the renaissance of Wellington Fund, a real-world case study ofthe clash between investment and speculation.

The Clash of the Cultures: Investment vs. Speculation

Provides a thorough history of the market, phenomenal advice on investment along with the numbers to back it upand speaks out against the current trends destroying the market and value for investors.

The “real market of intrinsic business value” has been replaced by “an expectations market” that distorts the way businesses are run. Speculation completes the trilogy of best-selling books, beginning with Bogle on Investing: