The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)
by: John C. Bogle
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Investing is all about common sense. Owning a diversified portfolio of stocks and holding it for the long term is a winner’s game. Trying to beat the stock market is theoretically a zero-sum game (for every winner, there must be a loser), but after the substantial costs of investing are deducted, it becomes a loser’s game. Common sense tells us—and history confirms—that the simplest and most efficient investment strategy is to buy and hold all of the nation’s publicly held businesses at very low cost. The classic index fund that owns this market portfolio is the only investment that guarantees you with your fair share of stock market returns.
To learn how to make index investing work for you, there’s no better mentor than legendary mutual fund industry veteran John C. Bogle. Over the course of his long career, Bogle—founder of the Vanguard Group and creator of the world’s first index mutual fund—has relied primarily on index investing to help Vanguard’s clients build substantial wealth. Now, with The Little Book of Common Sense Investing, he wants to help you do the same.
Filled with in-depth insights and practical advice, The Little Book of Common Sense Investing will show you how to incorporate this proven investment strategy into your portfolio. It will also change the very way you think about investing. Successful investing is not easy. (It requires discipline and patience.) But it is simple. For it’s all about common sense.
With The Little Book of Common Sense Investing as your guide, you’ll discover how to make investing a winner’s game:
You’ll also find warnings about investment fads and fashions, including the recent stampede into exchange traded funds and the rise of indexing gimmickry. The real formula for investment success is to own the entire market, while significantly minimizing the costs of financial intermediation. That’s what index investing is all about. And that’s what this book is all about.
JOHN C. BOGLE is founder of the Vanguard Group, Inc., 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.
Investing is all about common sense. Owning a diversified portfolio of stocks and holding it for the long term is a winner’s game. Trying to beat the stock market is theoretically a zero-sum game (for every winner, there must be a loser), but after the substantial costs of investing are deducted, it becomes a loser’s game. Common sense tells us—and history confirms—that the simplest and most efficient investment strategy is to buy and hold all of the nation’s publicly held businesses at very low cost. The classic index fund that owns this market portfolio is the only investment that guarantees you with your fair share of stock market returns.
To learn how to make index investing work for you, there’s no better mentor than legendary mutual fund industry veteran John C. Bogle. Over the course of his long career, Bogle—founder of the Vanguard Group and creator of the world’s first index mutual fund—has relied primarily on index investing to help Vanguard’s clients build substantial wealth. Now, with The Little Book of Common Sense Investing, he wants to help you do the same.
Filled with in-depth insights and practical advice, The Little Book of Common Sense Investing will show you how to incorporate this proven investment strategy into your portfolio. It will also change the very way you think about investing. Successful investing is not easy. (It requires discipline and patience.) But it is simple. For it’s all about common sense.
With The Little Book of Common Sense Investing as your guide, you’ll discover how to make investing a winner’s game:
- Why business reality—dividend yields and earnings growth—is more important than market expectations
- How to overcome the powerful impact of investment costs, taxes, and inflation
- How the magic of compounding returns is overwhelmed by the tyranny of compounding costs
- What expert investors and brilliant academics—from Warren Buffett and Benjamin Graham to Paul Samuelson and Burton Malkiel—have to say about index investing
- And much more
You’ll also find warnings about investment fads and fashions, including the recent stampede into exchange traded funds and the rise of indexing gimmickry. The real formula for investment success is to own the entire market, while significantly minimizing the costs of financial intermediation. That’s what index investing is all about. And that’s what this book is all about.
JOHN C. BOGLE is founder of the Vanguard Group, Inc., 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.
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Customer Reviews
Average Rating:
Rating: 
- A good book on investing
An excellent book on investing. Straightforward form people whom know what they are talking about. And quoting from other good references as well.
Rating: 
- Simple and effective
As others have mentioned, this book could be distilled down to "The only way to succeed at long term investing is to buy low-fee mutual funds that track the whole stock market".The entire rest of the book is the justification, and it's pretty hard to argue with any of it.Sure, you can beat the market sometimes, but it can't last.
As a beginning investor, I found the book informative - it helps you think about stocks and the market in ways that aren't immediately obvious to the uninformed.
Rating: - One of the Best Books on Investing for the Little Guys
I love this book. Gave it to my nephew who was content to lose money for 20 years and get into sector funds to make his riches later.
Rating: - Smart Investing Advise
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)I thought this book was very clearly written, and its advise quite compelling. It hammers home the long-term advantages of investing in index funds. Of course, the author sells them for Vanguard, but none-the-less, his advise makes sense. He points out how difficult it is to select a mutual fund which consitently beats the market average over a long time period. According ... Read More
Rating: - Everything you need to know to invest successfully!
Jack Bogle has written a book for the ages...in simple language with illustrations that are easily understood, he makes a compelling case for index investing.This is the single critical volume of knowledge that the typical investor will ever need.
- A good book on investingAn excellent book on investing. Straightforward form people whom know what they are talking about. And quoting from other good references as well.
- Simple and effectiveAs others have mentioned, this book could be distilled down to "The only way to succeed at long term investing is to buy low-fee mutual funds that track the whole stock market".The entire rest of the book is the justification, and it's pretty hard to argue with any of it.Sure, you can beat the market sometimes, but it can't last.
As a beginning investor, I found the book informative - it helps you think about stocks and the market in ways that aren't immediately obvious to the uninformed.
- One of the Best Books on Investing for the Little GuysI love this book. Gave it to my nephew who was content to lose money for 20 years and get into sector funds to make his riches later.
- Smart Investing AdviseThe Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits)I thought this book was very clearly written, and its advise quite compelling. It hammers home the long-term advantages of investing in index funds. Of course, the author sells them for Vanguard, but none-the-less, his advise makes sense. He points out how difficult it is to select a mutual fund which consitently beats the market average over a long time period. According ... Read More
- Everything you need to know to invest successfully!Jack Bogle has written a book for the ages...in simple language with illustrations that are easily understood, he makes a compelling case for index investing.This is the single critical volume of knowledge that the typical investor will ever need.
