The Humanevi newsletter
Weekly
Once a week: 5 things worth your time.
1 story, 1 idea, 1 discovery, 1 tool, 1 book.
The Humanevi newsletter
Once a week: 5 things worth your time.
1 story, 1 idea, 1 discovery, 1 tool, 1 book.
John C. Bogle, founder of Vanguard, makes the case for low-cost index funds as a patient, diversified way to invest.
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The central argument is simple: costs erode returns, and most investors cannot beat the market consistently. That is why Bogle proposes buying the whole market through index funds and holding the position for decades.
Beginning investors who want a clear, short long-term philosophy, and people tired of trying to pick stocks. It also suits those who already invest and want to understand the reasoning behind index funds.
The book, from 2007, is short and repeats its thesis from different angles: costs, diversification, discipline and behavior. Bogle speaks as an advocate of an idea, so the tone is persuasive rather than neutral. The text is not personalized investment advice.
Check that you have the latest version, since the book has been updated since it first appeared. A plain format is enough, as the text is direct. To see the other side of the market-efficiency debate, it is worth reading Malkiel's classic as well.
