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The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns Hardcover – Illustrated, 8 December 2017
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From the Inside Flap
"Rather than listen to the siren songs from investment managers, investorslarge and smallshould instead read Jack Bogle's The Little Book of Common Sense Investing."
The Bestselling Investing "Bible" Offers New Information, New Insights, and New Perspectives
The Little Book of Common Sense Investing is the classic guide to getting smart about the market. Legendary mutual fund pioneer John C. Bogle reveals his key to getting more out of investing: low-cost index funds. Bogle describes the simplest and most effective investment strategy for building wealth over the long term: buy and hold, at very low cost, a mutual fund that tracks a broad stock market Index such as the S&P 500.
While the stock market has tumbled and then soared since the first edition of The Little Book of Common Sense Investing was published in April 2007, Bogle's investment principles have endured and served investors well. This tenth anniversary edition includes updated data and new information but maintains the same long-term perspective as its predecessor.
Bogle has also added two new chapters designed to provide further guidance to investors: one on asset allocation, the other on retirement investing.
A portfolio focused on index funds is the only investment that effectively guarantees your fair share of stock market returns. This strategy is favored by Warren Buffett, who said this about Bogle: "If a statue is ever erected to honor the person who has done the most for American investors, the hands-down choice should be Jack Bogle. For decades, Jack has urged investors to invest in ultra-low-cost index funds. . . . Today, however, he has the satisfaction of knowing that he helped millions of investors realize far better returns on their savings than they otherwise would have earned. He is a hero to them and to me."
Bogle shows you how to make index investing work for you and help you achieve your financial goals, and finds support from some of the world's best financial minds: not only Warren Buffett, but also Benjamin Graham, Paul Samuelson, Burton Malkiel, Yale's David Swensen, Cliff Asness of AQR, and many others.
This new edition of The Little Book of Common Sense Investing offers you the same solid strategy as its predecessor for building your financial future.
- Build a broadly diversified, low-cost portfolio without the risks of individual stocks, manager selection, or sector rotation.
- Forget the fads and marketing hype, and focus on what works in the real world.
- Understand that stock returns are generated by three sources (dividend yield, earnings growth, and change in market valuation) in order to establish rational expectations for stock returns over the coming decade.
- Recognize that in the long run, business reality trumps market expectations.
- Learn how to harness the magic of compounding returns while avoiding the tyranny of compounding costs.
While index investing allows you to sit back and let the market do the work for you, too many investors trade frantically, turning a winner's game into a loser's game. The Little Book of Common Sense Investing is a solid guidebook to your financial future.
From the Back Cover
PRAISE FOR THE LITTLE BOOK OF COMMON SENSE INVESTING
"Jack Bogle's remarkable career spans the spectrum from lonely iconoclast to celebrated rock star. His conception and development of index funds transformed the investment world for individuals and institutions alike. Countless millions of investors have purchased index funds because of Jack. But, simply being an indexer is insufficient. Successful investors embrace the principles undergirding the rationale for index funds and understand the pitfalls hindering the effective execution of an investment plan. The Little Book of Common Sense Investing provides the tools required to implement a winning portfolio strategy. Read it and win!"
DAVID F. SWENSEN, Chief Investment Officer, Yale University
"What Gutenberg was to the printing press, Henry Ford to the automobile, and Shakespeare to the English language, Jack Bogle is to finance. The Little Book of Common Sense Investing packs into 270 short pages the distilled genius of the nearly seven decades he's spent revolutionizing the process for everyone, from the smallest IRA holder to the largest pension and endowment funds. Read, enjoy, and profit."
WILLIAM J. BERNSTEIN, bestselling author of The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between
"One hundred years from today, historians will remember only two investors from this eraWarren Buffett and Jack Bogle. The two books they will note? Buffett's bible, Ben Graham's The Intelligent Investor, and . . . anything written by Jack Bogle. In a world of investment foxes, Jack remains a stalwart hedgehog. The Little Book of Common Sense Investing, updated here, will prove timeless as it thoughtfully articulates Bogle's one big ideahow investors can get their fair share of market returns."
STEVE GALBRAITH, Managing Member, Kindred Capital
"Jack Bogle's thin Little Book is thick with wisdom. It's informative, insightful, and opinionated with the added advantage of being correct! As Bogle explains, the road to investment failure is paved with expensive advice, expensive investments, and expensive advertising (urging you to buy the first two). Bogle suggests a very different course for investors, virtually guaranteeing investment success."
TED ARONSON, CFA, founder, AJO
- Publisher : Wiley; 2nd edition (8 December 2017)
- Language : English
- Hardcover : 304 pages
- ISBN-10 : 1119404509
- ISBN-13 : 978-1119404507
- Item Weight : 334 g
- Dimensions : 13.21 x 3.05 x 17.27 cm
- Country of Origin : USA
- Net Quantity : 1.00 count
- Best Sellers Rank: #10,883 in Books (See Top 100 in Books)
- Customer Reviews:
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Reviewed in India 🇮🇳 on 9 August 2020
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Intrigued, I was expecting some sort of a guide on the stock market: some sort of "for Dummies" book but better.
Instead, what I found was a finance-themed self-help book which, like all self-help books, stretches a single simple concept for 200+ pages.
Here's the gist of the book: invest in index funds, don't waste your time and money by investing in single stocks or mutual funds.
That's it, I saved you 10 quids.
The book introduces this concept in the first 10 pages and proceeds to bludgeon you on the head with it for the remaining 190 pages. All the while relentlessly pouring unfunny jokes, quotes from Warren Buffet (if I wanted to hear from him I would've gone to the source thanks), and the author's unbearable self-aggrandizing as a "pioneer" of index funds. That's right, the author has a vested interest in index funds since he created Vanguard, one of the most famous index funds.
Basically with this book you're buying an ad.
If there's an upside from this situation is that from now on I won't every buy a stock market book again: I will just borrow ebooks from the library and read them on my non-Amazon ereader.
Stay away from this total scam.
If you actually want to learn how to trade stocks and shares, don’t buy this book. It’s a complete waste of time.
It makes a really compelling argument for investing using an index fund and saving time and energy for other things you may enjoy more than researching companies, etc.
Over the long terms:
- Costs compound badly
- Active investors on average fail to produce good results because of the costs of trading and CGT (Capital Gain Taxes) expenses
- By buying an index you reduce the emotional stress and you'd be less likely of panic or get greedy
For some reason I still think the book is missing something in terms of preparing the reader for the frequent and normal up and down of the markets.
Over the years, I have learned these lessons slowly but surely (and sometimes painfully!) I can honestly say that if I'd had this book back in 1996, I wouldn't have made nearly as many mistakes.
In the 1970s, John Bogle was the visionary that understood that the best strategy for almost every investor who is in it for the long haul is to invest broadly in index (tracker) funds with low charges. That's it! Sounds simple, and if you don't want to spend 14 quid on the book, just do this. But in comparison to the long-term costs of investing, 14 quid is nothing, and the book will help you understand WHY this is such a good long-term strategy. Using numerous data-based examples, Bogle illustrates why this works, and the pitfalls of not following it. All the data show that "expert" stock-pickers do no better than chance, compared to index funds, and because of factors such as reversion to the mean, and of course higher costs, they do worse.
I read this book in just 2 days. Besides maybe Dave Ramsay's book "Financial Peace", it is by far the easiest book on investment that I have ever read. Considering the move within the UK towards defined-contribution occupational pension schemes, it should be required reading.
An absolute waste of money.