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: 
- The Little Book of Commmon Sense Investing
This book confirmed my faith in John C. Bogle and his integrity and simple common sense infesting.
Rating: - Common Sense Investing
Excellent book & I would highly recommend it to anyone novice or expert, no matter what your investments have been. A little repetitious at times. A must for everyone
Rating: 
- BUYER BEWARE: Index Investors have lost money over 10 years...
How is that considered safe? The S & P 500 was over 1270 in June of 1999, and is currently near 920, 10 years later...down, 20+ %
The fact is markets do go down, and often times stay down. If one owned the Nasdaq index in the year 2000 at 5000, they are still down over 60% 9 years later.
The Japanese Nikkei index is still down OVER 80% 20 years later.
There is no guarantee that markets rise over time. If it were that easy, we would all be stock market millionaires, ... Read More
Rating: - Layman Friendly
This excellent investment primer left me confident in my ability to invest wisely in both equities and bonds.Buy the haystack rather than trying to find ther needle and adroitly eliminate the middleman.
Rating: 
- A quick read with golden advice
This an investment book you can read in an afternoon. Essentially an argument that buying low cost index funds is more efficient and earns a better return over trying to beat the market 99% of the time, it is well argued and persuasive. It is not intended to teach you everything about investing. It is simple and to the point: buying low cost index funds is a superior investing model for virtually everyone. Weather or not you agree with the premise, this is a frank, funny, and well written guide to index fund ... Read More
- The Little Book of Commmon Sense InvestingThis book confirmed my faith in John C. Bogle and his integrity and simple common sense infesting.
- Common Sense InvestingExcellent book & I would highly recommend it to anyone novice or expert, no matter what your investments have been. A little repetitious at times. A must for everyone
- BUYER BEWARE: Index Investors have lost money over 10 years...How is that considered safe? The S & P 500 was over 1270 in June of 1999, and is currently near 920, 10 years later...down, 20+ %
The fact is markets do go down, and often times stay down. If one owned the Nasdaq index in the year 2000 at 5000, they are still down over 60% 9 years later.
The Japanese Nikkei index is still down OVER 80% 20 years later.
There is no guarantee that markets rise over time. If it were that easy, we would all be stock market millionaires, ... Read More
- Layman FriendlyThis excellent investment primer left me confident in my ability to invest wisely in both equities and bonds.Buy the haystack rather than trying to find ther needle and adroitly eliminate the middleman.
- A quick read with golden advice This an investment book you can read in an afternoon. Essentially an argument that buying low cost index funds is more efficient and earns a better return over trying to beat the market 99% of the time, it is well argued and persuasive. It is not intended to teach you everything about investing. It is simple and to the point: buying low cost index funds is a superior investing model for virtually everyone. Weather or not you agree with the premise, this is a frank, funny, and well written guide to index fund ... Read More
