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The Clash of the Cultures: Investment vs. Speculation

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Author: John C. Bogle

Publisher: John Wiley & Sons, Inc

Year Printed: 2012

Edition: First

Printing: First

Condition: Very Good

eBook: Google Ebook

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Pages: 353

Height: 9.25 inches

Width: 6.25 inches

Notes: Hard Cover; Dust Jacket

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."

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