by: John C. Bogle
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Binding: HardcoverDewey Decimal Number: 330.1220973
EAN: 9780300109900
ISBN: 0300109903
Label: Yale University Press
Manufacturer: Yale University Press
Number Of Items: 1
Number Of Pages: 288
Publication Date: November 01, 2005
Publisher: Yale University Press
Sales Rank: 290615
Studio: Yale University Press
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Editorial Review:
Product Description:
There is no one better qualified to tell us about the failures of the American financial system and the grotesque abuses that have taken place in recent years than John Bogle, who as founder and former chief executive of the Vanguard mutual funds group has seen firsthand the innermost workings of the financial industry. A zealous advocate for the small investor for more than fifty years, Bogle has championed the restoration of integrity in industry practices. As an astute observer and commentator, he knows that a trustworthy business and financial complex is essential to America’s continuing leadership in the world and to social and economic progress at home.
This book tells not just a story about what went wrong but, more important, the story of why we lost our way and of how we can right our course. Bogle argues for a return to a governance structure in which owners’ capital that has been put at risk is used in their interests rather than in the interests of corporate and financial managers. Given that ownership is now consolidated in the hands of relatively few large mutual and pension funds, the specific reforms Bogle details in this book are essential as well as practical. Every investor, analyst, Wall-Streeter, policy maker, and businessperson should read this deeply informed book.
This book tells not just a story about what went wrong but, more important, the story of why we lost our way and of how we can right our course. Bogle argues for a return to a governance structure in which owners’ capital that has been put at risk is used in their interests rather than in the interests of corporate and financial managers. Given that ownership is now consolidated in the hands of relatively few large mutual and pension funds, the specific reforms Bogle details in this book are essential as well as practical. Every investor, analyst, Wall-Streeter, policy maker, and businessperson should read this deeply informed book.
Average Rating: 
Rating:
- An Insiders Call for Investment Reform.The main attraction of this book is the author. John Bogle is an insider with a long history in investment.
Throughout the book Mr.Bogle addresses problems in the investment sector. Some are known, some are factors that John Q. Public may not be aware of.
His main argument is about ownership. Who controls investments? One would expect that shareholders do. But in reality it's the fund managers. That's the author's point- "owner's capitalism" vs. "manager's capitalism".
... Read More
Rating:
- Exellent, details and outlines the problem with the stock market. This book should be taught in a college class. This details exactly what has happened and what needs to be done to correct what has happened the last 20 years.
Rating:
- Very academic, excellent but suited for investment amateursLoved the feel of this book and there is tons of great information here about the inner workings of investments, funds and financial shenanigans. Some of the info was over my head but where I could digest it, it was great.
Rating:
- He's got it rightToday's financial situation is the result of the battle the suthor so clearly describes. Why can't we listen?
Rating:
- About What We Investors Don't KnowThe first half of Bogle's volume gives a detailed explanation of the problems with our stock market; the second half gives his solution proposals. And if John Bogle doesn't know what is going on both openly and behind closed doors (read his qualifications), then no one does.
This book describes how stock (mutual fund and corporate) managers are not "honest, competent and fair-minded...[or] doing the right thing." (p. 89) And just how the "managers' interest [are placed] ahead of the ... Read More
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