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Bogle On Mutual Funds: New Perspectives For The Intelligent Investor

توضیحات

Investment giant John Bogle's guide to creating a solid portfolio

"Dear Jack: I read your book from cover to cover and enjoyed it immensely. It is honest, sensible, and readable—a very rare combination. Your book is going to be an important one for mutual fund investors for many years to come."
—Warren E. Buffett

John Bogle is the acclaimed founder of the Vanguard Group , a unique, shareholderowned firm that is based on his guiding principles of candor, fairness, and low costs. With Bogle on Mutual Funds: New Perspectives for the Intelligent Investor, any investor—no matter what your level of expertise—can tap into the wisdom of John Bogle's proven mutual fund investment approach.

Whatever your long-range financial goals, Bogle on Mutual Funds can help you to put in place a portfolio strategy that is grounded in the three legs of Bogle's eternal triangle of investing: return, risk, and cost. Bogle includes model portfolios that can help you intelligently make your most important investment decisions.

You'll also find Bogle's original analysis of "New Perspectives" on three key issues: 1) the elegantly simple case for index funds, 2) the overbearingly large impact of costs on mutual fund returns, and 3) the impact of taxes on mutual fund returns. These three topics were rarely considered in 1993 when Bogle on Mutual Funds was first published. Now they are at the heart of investing's conventional wisdom.

Written in terms equally accessible to both the investing novice and the professional investor, this book is an important resource offering a reliable investment framework. This book will help you to become a more successful investor.


JOHN C. BOGLE is founder and former chairman of the Vanguard Group of mutual funds and President of its Bogle Financial Markets Research Center. After creating Vanguard in 1974, he served as chairman and chief executive officer until 1996 and senior chairman until 2000. Bogle is the author of ten books, including Enough.: True Measures of Money, Business, and Life, The Little Book of Common Sense Investing, and Clash of the Cultures: Investment vs. Speculation, all published by Wiley.

Caveat Emptor Index xxxvii

Part I BUILDING BLOCKS 1

Chapter One THE REWARDS OF INVESTING 3

Chapter Two THE RISKS OF INVESTING 24

Chapter Three MUTUAL FUNDS: PRINCIPLES, PRACTICALITIES, PERFORMANCE 48

Part II MUTUAL FUND SELECTION 65

Chapter Four HOW TO SELECT A COMMON STOCK MUTUAL FUND 67

Chapter Five HOW TO SELECT A BOND MUTUAL FUND 97

Chapter Six HOW TO SELECT A MONEY MARKET FUND 120

Chapter Seven HOW TO SELECT A BALANCED MUTUAL FUND 135

Chapter Eight WHERE TO GET MUTUAL FUND INFORMATION 147

Part III NEW PERSPECTIVES ON THREE KEY ISSUES 167

Chapter Nine INDEX FUNDS 169

Chapter Ten MUTUAL FUND COSTS 190

Chapter Eleven TAXES AND MUTUAL FUNDS 209

Part IV PRACTICAL APPLICATION OF INVESTMENT PRINCIPLES 233

Chapter Twelve THE ALLOCATION OF INVESTMENT ASSETS 235

Chapter Thirteen MUTUAL FUND MODEL PORTFOLIOS 259

Chapter Fourteen A MANDATE FOR FUND SHAREHOLDERS 280

Epilogue TWELVE PILLARS OF WISDOM 303

Notes 308

Index 311