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The Clash of the Cultures: Investment vs. Speculation - Hardcover - GOOD

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Item specifics

Condition
Good: A book that has been read but is in good condition. Very minimal damage to the cover including ...
Brand
Unbranded
MPN
Does not apply
ISBN
1118122771
Book Title
Clash of the Cultures : Investment Vs. Speculation
Item Length
9.1 in
Publisher
Wiley & Sons, Incorporated, John
Publication Year
2012
Format
Hardcover
Language
English
Illustrator
Yes
Item Height
1.6 in
Author
John C. Bogle
Genre
Business & Economics
Topic
Personal Finance / Money Management, Finance / General, Investments & Securities / General
Item Width
6.3 in
Item Weight
20.8 Oz
Number of Pages
384 Pages

About this product

Product Information

Recommended Reading by Warren Buffet in his March 2013 Letter to Shareholders How speculation has come to dominate investment--a hard-hitting look from the creator of the first index fund. Over the course of his sixty-year career in the mutual fund industry, Vanguard Group founder John C. Bogle has witnessed a massive shift in the culture of the financial sector. The prudent, value-adding culture of long-term investment has been crowded out by an aggressive, value-destroying culture of short-term speculation. Mr. Bogle has not been merely an eye-witness to these changes, but one of the financial sector's most active participants. In The Clash of the Cultures, he urges a return to the common sense principles of long-term investing. Provocative and refreshingly candid, this book discusses Mr. Bogle's views on the changing culture in the mutual fund industry, how speculation has invaded our national retirement system, the failure of our institutional money managers to effectively participate in corporate governance, and the need for a federal standard of fiduciary duty. Mr. 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. 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. The book concludes with ten simple rules that will help investors meet their financial goals. Here, he presents a common sense strategy that "may not be the best strategy ever devised. But the number of strategies that are worse is infinite." The Clash of the Cultures: Investment vs. Speculation completes the trilogy of best-selling books, beginning with Bogle on Investing: The First 50 Years (2001) and Don't Count on It (2011)

Product Identifiers

Publisher
Wiley & Sons, Incorporated, John
ISBN-10
1118122771
ISBN-13
9781118122778
eBay Product ID (ePID)
109541194

Product Key Features

Book Title
Clash of the Cultures : Investment Vs. Speculation
Author
John C. Bogle
Format
Hardcover
Language
English
Topic
Personal Finance / Money Management, Finance / General, Investments & Securities / General
Publication Year
2012
Illustrator
Yes
Genre
Business & Economics
Number of Pages
384 Pages

Dimensions

Item Length
9.1 in
Item Height
1.6 in
Item Width
6.3 in
Item Weight
20.8 Oz

Additional Product Features

Intended Audience
Trade
Lc Classification Number
Hg4521
Reviews
'The book is a gem. Well-researched and carefully argued, there's simply no way to argue with Bogle's premises' (Best Financial News, 24th October 2012)
Table of Content
Foreword By Arthur Levitt ix Acknowledgments xiii About This Book xv Chapter 1 The Clash of the Cultures 1 Chapter 2 The Double-Agency Society and the Happy Conspiracy 29 Chapter 3 The Silence of the Funds: Why Mutual Funds Must Speak Out on the Governance of Our Nation's Corporations 65 Chapter 4 The "Mutual" Fund Culture--Stewardship Gives Way to Salesmanship 103 Chapter 5 Are Fund Managers True Fiduciaries?: The "Stewardship Quotient" 139 Chapter 6 The Index Fund: The Rise of the Fortress of Long-Term Investing and Its Challenge from Short-Term Speculation 167 Chapter 7 America's Retirement System: Too Much Speculation, Too Little Investment 213 Chapter 8 The Rise, the Fall, and the Renaissance of Wellington Fund: A Case Study--Investment Wins, Speculation Loses 251 Chapter 9 Ten Simple Rules for Investors and a Warning for Speculators 297 Appendix I: Performance Ranking of Major Mutual Fund Managers-March 2012 323 Appendix II: Annual Performance of Common Stock Funds versus S&P 500, 1945-1975 325 Appendix III: Growth in Index Funds--Number and Assets, 1976-2012 327 Appendix IV: Wellington Fund Record, 1929-2012 329 Appendix V: Wellington Fund Equity Ratio and Risk Exposure (Beta), 1929-2012 333 Appendix VI: Wellington Fund Performance versus Average Balanced Fund, 1929-2012 335 Appendix VII: Wellington Fund Expense Ratios, 1966-2011 337 Index 339
Copyright Date
2012
Lccn
2012-026770
Dewey Decimal
332.6
Dewey Edition
23

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