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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He created Vanguard in and served as chairman and chief executive officer until and senior chairman until Bogle is brilliant at explaining why diversification and long term investment in low-overhead mutual funds still gives the best returns in the long run. Had she known its message, she probably would not have included it, because her hope is for me to start making substantial short-term gains in the stock market.

The prudent, value-adding culture of long-term investment has been crowded out by an aggressive, value-destroying culture of short-term speculation. Mar 27, David Carrasquillo rated it it was amazing Shelves: Listen to him carefully and act to joohn your family’sfinancial future.

A book Off may read again in the future if I get off track or are in doubt. Mar culturds, Deb Holden rated it liked it.

Bogle has witnessed a massive shift in the culture of the financial sector. Over ths course of his sixty-year career in the mutual clzsh industry, Vanguard Group founder John C. We use cookies to give you the best possible experience.

The prudent, or culture of long-term investment has been crowded out by an aggressive, value-destroying culture of short-term speculation. In reading this book too, it became pretty clear that Bogle understands that the only way that ordinary investors of no particular brilliance in financial management and among that number I would include myself to have their interests met is for such people to become aware of their own self-interests and how that works in the investment market, to seek simplicity and low fees and long-term solutions and avoid the loser’s game of trying to beat the market and everyone else in it.

Bogle has witnessed a massive shift in the culture of the financial sector. InForbes magazine described him as the person who “has done more good for investors than any other financier of the past century.


One does not read the Bogle oeuvre looking for a wide variety of material, necessarily, but one reads it with an awareness that the author has a message and sticks with it, and thee if he varies the specific examples or verbiage he uses to describe his investment philosophy and his critical comments about contemporary crony capital When one has read a few books by Bogle [1], one quickly understands that he is the sort of writer who continually returns to the same few themes over and over again.

Provocative and refreshingly candid, this book discusses Mr.

The Clash of the Cultures : Investment vs. Speculation

Bogle’s venerable career at the helm of Vanguard yields a valuable perspective on the drastic changes in money management over the last century. May 08, Monster Jin rated it it was amazing. Speculation completes the trilogy of best-selling books, beginning with Bogle culfures Investing: Nov 17, Brian Weisz rated it it was amazing. But employees are not saving enough, are not allocating their portfolios efficiently and are incurring too many costs.

The prudent, value-adding culture of long-term investment has been crowded out by an aggr. There is only the magic of simplicity. Well-researched and carefully argued, there’s simply thw way to argue with Bogle’s premises’ Best Financial News, 24th October show more.

The Clash of the Cultures: Investment vs. Speculation

Dispatched from the UK in 2 business days When will my order arrive? Fortunately, his ghe is widely available to everyone. Well-researched and carefully argued, there s simply no way to argue with Bogle s premises Best Financial News, 24th October show more. Here, he presents a common sense strategy that “may not be the best strategy ever devised.

The Clash of the Cultures : John C. Bogle :

Jul 22, Michael Sparks rated it it was amazing. Unfortunately, Bogle fails to rigorously account for the financial sector’s perverse incentives in any of his policy proposals.

The Clash of the Cultures: He also gives his views on how to save the country’s spotty and ill-performing retirement system, speculators in general and the financial industry’s fall from grace. About this latter tactic, he acknowledges that it has a short-term effect of reducing costs and increasing profits, but warns that it’s likely to “erode the company’s prospects for long-term growth. Review Text ‘The book is a gem.

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In his annual letter to shareholders, Warren Buffett went out of his way to recommend The Clash of the Cultures.

Invest in broad based index funds and also do not ask me specifically what that means. If you are reading this book, though, that is likely what you will be looking forward to. Clashhpages. I would recommend taking a look at any chapters you’re interested in, but not reading the whole book.

There’s also a lot of histo This book is one of the reasons that I hear John C. I cllash Bogle’s “Don’t Count on it” a bit more this seemed to drag. Great introduction to long-term investment from a pioneer in the industry. The proof of the matter is that the average index fund — via its very construction — holds its shares about 14 times longer than the average active fund. But quite often, the statements those investors receive don’t show significant growth, even from one year to the next.

The problem is that today capital formation accounts for 0. Wellington Fund Expense Ratios, Index show more. Upon re-reading a few chapters of the book for this review, those wishes might very well largely have been answered. I first adopted John Bogle’s precepts ina time when my initial investment portfolios contained little more than a few select active equity mutual funds that my father had recommended. Goodreads is the world’s largest site for readers with over 50 million reviews.

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

The author then concludes the main part of his discussion with a case study of the rise, fall, and rebirth of the Wellington Fund 8 and ten simple rules for investors 9. In the beginning of chapter 3, Bogle describes various other impediments to money managers acting in their investors’ interests, but fails to provide direct and pragmatic solutions to these problems. The author then talks about the mutual fund culture of salesmanship 4the issue of whether mutual fund managers are true fiduciaries 5the challenge that index funds receive from short-term speculation 6and the fact that there is too much speculation in America’s current retirement system 7.

In fact, speculating can be dangerous.