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Common Sense on Mutual Funds, Updated 10th Anniversary Edition


Praise for The Original 1998 Edition

"Cogent, honest, and hard-hitting—a must read-for every investor."
Warren E. Buffett

Praise for Common Sense On Mutual Funds fully updated 10th anniversary edition

"The only thing better than Bogle's original book is its improved revision. Bon appetit!"
Paul A. Samuelson, Nobel Laureate, Economics

"Were I allowed to recommend only one investment volume to friends and family, the updated edition of Common Sense on Mutual Funds would be it—it is even better than the first edition was ten years ago."
William J. Bernstein, author of The Investor's Manifesto, A Splendid Exchange, The Birth of Plenty, and The Four Pillars of Investing

"How do you improve upon perfection? Well, with this tenth anniversary edition of Common Sense on Mutual Funds, the best mutual fund primer just got better."
Don Phillips, Managing Director, Morningstar

"In this timely update of Common Sense on Mutual Funds, John Bogle improves on what was the finest book on mutual funds ever written."
Jane Bryant Quinn, financial columnist and author of Smart and Simple Financial Strategies for Busy People

"Jack Bogle cares passionately about everyday Americans—and that passion is palpable in these pages. This new edition of Common Sense on Mutual Funds will send you marching into the financial markets with a sense of mission."
Jonathan Clements, author of The Little Book of Main Street Money

"When the history of modern investment management is written, John Bogle will stand out as one of its towering figures."
Byron R. Wien, Vice Chairman, Blackstone Advisory Services

"A powerful no-nonsense prescription for how individual investors should structure their portfolios in the current market environment."
Martin Leibowitz, Managing Director, Morgan Stanley

John C. Bogle is founder of the Vanguard Mutual Fund Group and President of its Bogle Financial Markets Research Center. He created Vanguard in 1974 and served as chairman and chief executive officer until 1996 and senior chairman until 2000. In 1999, Fortune magazine named Mr. Bogle as one of the four "Investment Giants" of the twentieth century; in 2004, Time named him one of the world's 100 most powerful and influential people; and Institutional Investor presented him with its Lifetime Achievement Award. Bogle is also the author of Enough. and The Little Book of Common Sense Investing, both published by Wiley.
Foreword for the 10th Anniversary Edition.

Foreword for the Original Edition.

Preface to the 10th Anniversary Edition.

Preface to the Original Edition.

Acknowledgments for the 10th Anniversary Edition.

Acknowledgments for the Original Edition. 

About the Author.

PART I: On Investment Strategy.

Chapter 1 On Long-Term Investing.

Chance and the Garden.

Chapter 2 On the Nature of Returns.

Occam's Razor.

Chapter 3 On Asset Allocation.

The Riddle of Performance Attribution.

Chapter 4 On Simplicity.

How to Come Down to Where You Ought to Be.

PART II: On Investment Choices.

Chapter 5 On Indexing.

The Triumph of Experience over Hope.

Chapter 6 On Equity Styles.


Chapter 7 On Bonds.

Treadmill to Oblivion?

Chapter 8 On Global Investing.

Acres of Diamonds.

Chapter 9 On Selecting Superior Funds.

The Search for the Holy Grail.

PART III: On Investment Performance.

Chapter 10 On Reversion to the Mean.

Sir Isaac Newton's Revenge on Wall Street.

Chapter 11 On Investment Relativism.

Happiness or Misery?

Chapter 12 On Asset Size.

Nothing Fails Like Success.

Chapter 13 On Taxes.

The Message of the Parallax.

Chapter 14 On Time.

The Fourth Dimension—Magic or Tyranny?

PART IV: On Fund Management.

Chapter 15 On Principles.

Important Principles Must Be Inflexible.

Chapter 16 On Marketing.

The Message Is the Medium.

Chapter 17 On Technology.

To What Avail?

Chapter 18 On Directors.

Serving Two Masters.

Chapter 19 On Structure.

The Strategic Imperative.

PART V: On Spirit.

Chapter 20 On Entrepreneurship.

The Joy of Creating.

Chapter 21 On Leadership.

A Sense of Purpose.

Chapter 22 On Human Beings.

Clients and Crew.


Appendix I Some Thoughts about the Current Stock Market as 2010 Begins.

Appendix II Some Thoughts about the Current Stock Market as 1999 Begins.