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.

Author: Bralkree Fegor
Country: Luxembourg
Language: English (Spanish)
Genre: Software
Published (Last): 22 September 2007
Pages: 159
PDF File Size: 16.57 Mb
ePub File Size: 5.86 Mb
ISBN: 585-9-17704-518-1
Downloads: 3659
Price: Free* [*Free Regsitration Required]
Uploader: Sakus

Mar 27, David Carrasquillo rated it it was amazing Shelves: In comparison, the compensation of the average worker increased by only 0. Speculation, he brings his considerable wisdomand experience to bear on the most troubling developments of therecent era–the crowding out of long-term investment byshort-term speculation.

The Clash of the Cultures : John C. Bogle :

Bogle’s voice in my head every time someone offers me a “great stock tip”. 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 quick version limited repetition would be to vultures chapters 2, 6, 8, and 9.

He is known for his book Common Sense on Mutual Funds: BogleArthur Levitt Jr. It lambasts US mutual fund managers for neglecting to act as responsible owners of the companies they invest in on behalf of the savers whose money they look after, and for their own governance failures.


Dec 31, Jerry rated it liked it Shelves: He also presents a first-hand history of Wellington Fund, a real-world case study on the success of investment and the failure of speculation. Investors, as a group, inevitably earn the gross return of, say, the stock market, but only before the deduction of the costs of financial intermediation are taken into account. We also have credit default swaps, which are essentially bets on whether a corporation can meet the interest payments on its bonds.

Unfortunately, Bogle fails to rigorously account for the financial sector’s perverse incentives in any of his policy proposals. No trivia or quizzes yet. In his tenth book, The Clash of the Cultures: Would you like to change to the site? Ten years ago, upon grudgingly taking on his classic Common Sense on Mutual Funds, I realized that true long term investing actually is made much easier via an all-market index fund. May 12, Gaetano Venezia rated it liked it Shelves: Among the most important of the shifts is that short-term speculation has crowded out long-term investment.

Too long to read the whole thing. In a blatant An interesting descriptive work, but not a good normative work. A must read for all individual investors. Want to Read saving….

The Clash of the Cultures: Investment vs. Speculation

Much of that wisdom has been assembled in Bogle’s most recent book The Clash of the Cultures: My other major criticism is that the book can’t decide whether This book has some good chapters, some mediocre at best chapters, and some repetitive chapters.

In The Clash of the Cultures, he urges a return bogke the common sense principles of long-term investing.


The four largest defined DC retirement plan managers together supervised nearly one-half of all DC plan assets held in funds that were reviewed in the report. About the Author John C. Sweet book to have near you. I was hoping to gain some investment insight, and did get some ideas to research on fund selection.

Voting machine vs weighing machine speculation vs investment.

The Clash of the Cultures : Investment vs. Speculation

To sum up, save for retirement in low-cost INDEX funds that cover the broadest base possible, eg the entire stock market. Instead, he too often moralizes and calls on money managers to repent and rebuke their own self-interested behavior.

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. John Bogle is truly one of the 20th century icons of the financial world. May 20, Michael D rated it it was amazing.

But what I personally have come to appreciate the most, as an jkhn reader of Mr Bogle, is the fact that he is not only the man behind a well-executed idea, but he also backs it up with a genuine passion for investing and old-fashioned fairness. But the number of strategies that are worse is infinite.