This is John Bogle’s tenth book and he surely does celebrate in style. I have read most of Mr Bogle’s books and The Clash of the Cultures is definitely the one. I read Clash of the Cultures: Investment vs. Speculation by Vanguard founder John Bogle. It’s a wonderful book outlining what true investing is. John Bogle’s story is an oft-told tale, yet even Bogle junkies will learn some fascinating new facts from the latest book by the founder of the Vanguard Group.

Author: Zolomuro Goltizuru
Country: Belgium
Language: English (Spanish)
Genre: Education
Published (Last): 25 May 2012
Pages: 432
PDF File Size: 8.56 Mb
ePub File Size: 16.90 Mb
ISBN: 442-9-96748-375-8
Downloads: 15927
Price: Free* [*Free Regsitration Required]
Uploader: Samuzil

The Clash of the Cultures: Investment vs. Speculation by John C. Bogle

How often we forget the power of these ‘relentless rules of humble arithmetic’ when we bet against one another, day after day — inevitably, to no avail — in the stock market.

No trivia or quizzes yet. Bogle is brilliant at explaining why diversification and long term investment in low-overhead mutual funds still gives the best ret An interesting read. That aside, this book presents a great value-investment perspective on the rise and folly of speculation in America’s financial markets. The Clash of the Cultures: I have come to appreciate his unique ability to speak to investorsin a language that is accessible, lyrical and yet also bracing.

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 Clash of the Cultures : John C. Bogle :

Jul 22, Michael Sparks rated it it was amazing. I rate it 2 stars because I I first adopted John Bogle’s precepts ina time when my initial investment portfolios contained te more than a few select active equity mutual funds that my father had recommended. The prudent, value-adding culture clasu long-term investment has been crowded out by an aggressive, value-destroying culture of short-term speculation. Jan 27, Kathleen rated it it was amazing.

Speculation completes the trilogy of best-selling books, beginning with Bogle on Investing: In the beginning of chapter 3, Bogle describes various other impediments to money managers acting in their investors’ interests, but fails to provide direct and pragmatic solutions to these problems.


But the number of strategies that are worse is infinite.

Basically, he says, the people who act as agents for the real owners of corporations the johh investors are feathering their own nest at the expense of those putting their own money on the line. If beating the market is a zero-sum game before costs, it is a loser’s game after costs are deducted.

Well-researched and carefully argued, there’s simply no way to argue with Bogle’s premises’ Best Financial News, 24th October show more.

This book presents an argument for why the high degree of speculation present in today’s investments in America are bad for the small investor community as a whole.

Still like many experts he fails to see that the average investor wastes a lot of time and money before arriving at the right method of accumulating wealth. Cheap index funds are the way to go. Home Contact Us Help Free delivery worldwide. The Teh pension-fund industry has been particularly bad at understanding these long-run fundamentals. Index fund seems to be the way to go for people that dont wanna spend a lot of time in trading.

His experience and expertise allow him to assess the damage that self-serving money managers and corporate directors have done cuktures the common investor. He sheds new light onthe dramatic change in the culture of the mutual fund industry, themultiple ways in which speculation has invaded our retirementsystem, and the need for a federal standard of fiduciary duty.

Flap copy During the course of his sixty-one year career, mutual fundpioneer and Vanguard Group founder John C. Wellington Fund Expense Ratios, Index show more. The results have of course been outstanding. Agent’s compensation incentives favor short-term actions, even though the shareholders’ interests are long term. The Clash of the Cultures: Speculation, he brings his considerable wisdomand experience to bear on the most troubling developments of therecent era–the crowding out of long-term investment byshort-term speculation.

Sep 26, Sam rated it really liked it.

The Clash of the Cultures : Investment vs. Speculation

Well-researched and carefully argued, there s simply no way to argue with Bogle s premises Best Financial News, 24th October show more. His Clash of the Cultures title conjures thoughts of world war and social strife.

But quite often, the statements those investors receive don’t show significant growth, even from one year to the next. What I wish Bogle or Malkiel or others had taught me earlier — and which I eventually learned from reading Benjamin Graham and Warren Buffett — was that you need not settle for index fund returns or active fund returns.


The Clash of the Cultures: Investment vs. Speculation

Investors spend so much time chasing hot asset classes and hot fund managers that they end up buying high and selling low, all the while incurring transaction costs. 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.

Published August 7th by Wiley first published January 1st But it is not easy, for it requires discipline, patience, steadfastness, and that most uncommon of all gifts, common sense. For one, culltures managers have been poor at passing along the benefits of economies of scale to their customers.

After reading John Bogle’s work and taking Burton Malkiel’s investment class, I learned that most active mutual funds fail to outperform index funds that benchmark the portfolios that the active managers strive to beat.

Nov 30, Ckltures rated it really liked it Shelves: Invest in indexed funds with low fees. Dispatched from the UK in 2 business days When will my order arrive? I was hoping to gain some investment insight, and did get some ideas to research on fund selection. Invest in broad based index funds and also do not ask me specifically what that means. Mar 27, David Carrasquillo rated it it was amazing Shelves: The book concludes with ten simple rules that will help investors meet their financial goals.

Cultyres by John C. He created Vanguard in and served as chairman and chief executive officer until and senior chairman until In his tenth book, The Clash of the Cultures: In The Clash of the Cultures, he urges a return to the common sense principles jobn long-term investing.