John C. Bogle Investment Classics Boxed Set: Bogle on Mutual Funds & Bogle on Investing Wiley Investment Classics Series

Two Bogle Investment Classics in One Elegant Boxed Set

John C. Bogle founded Vanguard in 1974, then in the space of a few years, introduced the index mutual fund, pioneered the no-load mutual fund, and redefined bond fund management. This boxed set includes John Bogle on Investing and Bogle on Mutual Funds, now regarded as timeless investment classics, like Bogle himself. Warren Buffett has called him an ?American hero? for his contributions to the investment success of ordinary investors.

John Bogle on Investing wraps up the essence of his half-century of knowledge to deepen your understanding and enhance your investment success. Bogle?s investing philosophy has remained more or less constant throughout his illustrious career, and this book lays it out so you can learn from the very best. You'll learn what makes a successful investment strategy, consider the productive economics of long-term investing, and how emotional investment in financial markets is often counterproductive enough to forfeit success. Bogle discusses the "fiscal drag" of investing, and shows you how to cut down on sales charges, management fees, turnover costs, and opportunity costs, as he unravels a lifetime's worth of expertise to give you deep insight into the mind of a master at work.

Certain books have redefined the way we view the world of finance and investing?books that should be on every investor?s shelf. Bogle On Mutual Funds is just such a work. Updated with a new introduction, this comprehensive book provides investors with the wisdom of the pioneer of mutual funds to help you identify and execute the ideal mutual fund investment choices for your portfolio. You'll learn the differences between common stock, bond, money market, and balanced funds, and why a passively managed "index" fund is a smarter investment than a fund managed by someone making weighted bets on individual securities, sectors, and the economy.

Caveat Emptor Index xxxvii

Part I BUILDING BLOCKS 1

Chapter One THE REWARDS OF INVESTING 3

Chapter Two THE RISKS OF INVESTING 24

Chapter Three MUTUAL FUNDS: PRINCIPLES, PRACTICALITIES, PERFORMANCE 48

Part II MUTUAL FUND SELECTION 65

Chapter Four HOW TO SELECT A COMMON STOCK MUTUAL FUND 67

Chapter Five HOW TO SELECT A BOND MUTUAL FUND 97

Chapter Six HOW TO SELECT A MONEY MARKET FUND 120

Chapter Seven HOW TO SELECT A BALANCED MUTUAL FUND 135

Chapter Eight WHERE TO GET MUTUAL FUND INFORMATION 147

Part III NEW PERSPECTIVES ON THREE KEY ISSUES 167

Chapter Nine INDEX FUNDS 169

Chapter Ten MUTUAL FUND COSTS 190

Chapter Eleven TAXES AND MUTUAL FUNDS 209

Part IV PRACTICAL APPLICATION OF INVESTMENT PRINCIPLES 233

Chapter Twelve THE ALLOCATION OF INVESTMENT ASSETS 235

Chapter Thirteen MUTUAL FUND MODEL PORTFOLIOS 259

Chapter Fourteen A MANDATE FOR FUND SHAREHOLDERS 280

Epilogue TWELVE PILLARS OF WISDOM 303

Notes 308

Index 311

Caveat Emptor Index xxxvii

Part I BUILDING BLOCKS 1

Chapter One THE REWARDS OF INVESTING 3

Chapter Two THE RISKS OF INVESTING 24

Chapter Three MUTUAL FUNDS: PRINCIPLES, PRACTICALITIES, PERFORMANCE 48

Part II MUTUAL FUND SELECTION 65

Chapter Four HOW TO SELECT A COMMON STOCK MUTUAL FUND 67

Chapter Five HOW TO SELECT A BOND MUTUAL FUND 97

Chapter Six HOW TO SELECT A MONEY MARKET FUND 120

Chapter Seven HOW TO SELECT A BALANCED MUTUAL FUND 135

Chapter Eight WHERE TO GET MUTUAL FUND INFORMATION 147

Part III NEW PERSPECTIVES ON THREE KEY ISSUES 167

Chapter Nine INDEX FUNDS 169

Chapter Ten MUTUAL FUND COSTS 190

Chapter Eleven TAXES AND MUTUAL FUNDS 209

Part IV PRACTICAL APPLICATION OF INVESTMENT PRINCIPLES 233

Chapter Twelve THE ALLOCATION OF INVESTMENT ASSETS 235

Chapter Thirteen MUTUAL FUND MODEL PORTFOLIOS 259

Chapter Fourteen A MANDATE FOR FUND SHAREHOLDERS 280

Epilogue TWELVE PILLARS OF WISDOM 303

Notes 308

Index 311

John Bogle on Investing: The First 50 Years

2015 INTRODUCTION TO THE CLASSIC EDITION OF JOHN BOGLE ON INVESTING: THE FIRST 50 YEARS IX

FOREWORD: PAUL A. VOLCKER XXIX

INTRODUCTION: WILLIAM T. ALLEN XXXI

PREFACE XXXV

SOME WORDS OF APPRECIATION XLIII

Part I Investment Strategies For The Intelligent Investor

1 Investing in the New Millennium: The Bagel and the Doughnut 5

2 The Clash of the Cultures in Investing: Complexity vs. Simplicity 17

3 Equity Fund Selection: The Needle or the Haystack? 33

4 Risk and Risk Control in an Era of Confidence (or Is It Greed?) 47

5 Buy Stocks? No Way! 66

6 The Death Rattle of Indexing 82

7 25 Years of Indexing: When Active Managers Win, Who Loses? 98

8 Selecting Equity Mutual Funds 108

9 The Third Mutual Fund Industry 122

Part II Taking On The Mutual Fund Industry

10 Mutual Funds: The Paradox of Light and Darkness 141

11 Economics 101: For Mutual Fund Investors . . . For Mutual Fund Managers 153

12 Honing the Competitive Edge in Mutual Funds 168

13 Creating Shareholder Value: BY Mutual Funds . . . or FOR Mutual Fund Shareholders? 180

14 The Silence of the Funds: Mutual Fund Investment Policies and Corporate Governance 196

15 Losing Our Way: Where Are the Independent Directors? 208

Part III Economics And Idealism: The Vanguard Experiment

16 Vanguard—Child of Fortune 221

17 The Winds of Change: The Vanguard Experiment in Internalized Management 231

18 Deliverance 246

19 The Lengthened Shadow, Economics, and Idealism 260

20 On the Right Side of History 270

Part IV Personal Perspectives

21 Changing the Mutual Fund Industry: The Hedgehog and the Fox 291

22 The Majesty of Simplicity 307

23 The Things by Which One Measures One’s Life 312

24 Telltale Hearts 316

25 Press On Regardless 327

Part V The Princeton Thesis

The Economic Role of the Investment Company 341

INDEX 451

JOHN C. BOGLE is founder and former chairman of the Vanguard Group of mutual funds and President of its Bogle Financial Markets Research Center. After creating Vanguard in 1974, he served as chairman and chief executive officer until 1996 and senior chairman until 2000. Bogle is the author of ten books, including Enough.: True Measures of Money, Business, and Life, The Little Book of Common Sense Investing, and Clash of the Cultures: Investment vs. Speculation, all published by Wiley.