Don't Count on It!

Don't Count on It!

Reflections on Investment Illusions, Capitalism, "mutual" Funds, Indexing, Entrepreneurship, Idealism, and Heroes

Book - 2011
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Praise for Don′t Count On It!

"This collection of Jack Bogle′s writings couldn′t be more timely. The clarity of his thinking and his insistence on the relevance of ethical standards are totally relevant as we strive to rebuild a broken financial system. For too many years, his strong voice has been lost amid the cacophony of competing self-interests, misdirected complexity, and unbounded greed. Read, learn, and support Jack′s mission to reform the industry that has been his life′s work."
PAUL VOLCKER , Chairman of the President′s Economic Recovery Advisory Board and former Chairman of the Federal Reserve (1979 1987)

"Jack Bogle has given investors throughout the world more wisdom and plain financial ′horse sense′ than any person in the history of markets. This compendium of his best writings, particularly his post-crisis guidance, is absolutely essential reading for investors and those who care about the future of our society."
ARTHUR LEVITT , former Chairman, U.S. Securities and Exchange Commission

"Jack Bogle is one of the most lucid men in finance."
NASSIM N.TALEB , PhD, author of The Black Swan

"Jack Bogle is one of the financial wise men whose experience spans the post World War II years. This book, encompassing his insights on financial behavior, pitfalls, and remedies, with a special focus on mutual funds, is an essential read. We can only benefit from his observations."
HENRY KAUFMAN , President, Henry Kaufman & Company, Inc.

"It was not an easy sell. The joke at first was that only finance professors invested in Vanguard′s original index fund. But what a triumph it has been. And what a focused and passionate drive it took: it is a zero-sum game and only costs are certain. Thank you, Jack."
JEREMY GRANTHAM , Cofounder and Chairman, GMO

"On finance, Jack Bogle thinks unconventionally. So, this sound rebel turns out to be right most of the time. Meanwhile, many of us sometimes engage in self-deception. So, this book will set us straight. And in the last few pages, Jack writes, and I agree, that Peter Bernstein was a giant. So is Jack Bogle."
JEAN-MARIE EVEILLARD , Senior Adviser, First Eagle Investment Management

Insights into investing and leadership from the founder of The Vanguard Group

Throughout his legendary career, John Bogle-founder of the Vanguard mutual fund group and creator of the first index mutual fund-has helped investors build wealth the right way, while, at the same time, leading a tireless campaign to restore common sense to the investment world.

A collection of essays based on speeches delivered to professional groups and college students in recent years, in Don′t Count on It is organized around eight themes

Illusion versus reality in investing Indexing to market returns Failures of capitalism The flawed structure of the mutual fund industry The spirit of entrepreneurship What is enough in business, and in life Advice to America′s future leaders The unforgettable characters who have shaped his career

Widely acclaimed for his role as the conscience of the mutual fund industry and a relentless advocate for individual investors, in Don′t Count on It , Bogle continues to inspire, while pushing the mutual fund industry to measure up to their promise.

Publisher: Hoboken, N.J. : John Wiley & Sons, [2011]
Copyright Date: ©2011
ISBN: 9780470643969
Branch Call Number: 332.6 BOG
Characteristics: xxxii, 603 pages :,illustrations ;,24 cm

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HandyFellow
Feb 19, 2017

If you're a John Bogle fan, as I am, then this wide ranging 600 page opus is for you. As the originator of the Vanguard Index fund, Mr. Bogle lays out a detailed and thoroughly researched volume as to why the mutual fund industry is completely stacked against the small retail investor, and why broad based, low cost, buy and hold index investing is mathematically the only hope that small investors have.

Page by page, chapter by chapter, Mr. Bogle builds a case, brick by brick, about the short falls of capitalism, retail investing, and of the financial services industry to meet the expectations of retail investors. There is no arguing with the simplicity of humble math and this book logically proves that convincingly.

This extremely detailed and data heavy book is certainly not everyone's cup of tea, but I for one, thoroughly enjoyed the immense amount of well thought out material that was presented.

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