Book description
Praise for Don't Count On It!
"This collection of Jack Bogle's writings couldn't be more
timely. The clarity of his thinking-and his insistence on the
relevance of ethical standards-are totally relevant as we strive to
rebuild a broken financial system. For too many years, his strong
voice has been lost amid the cacophony of competing self-interests,
misdirected complexity, and unbounded greed. Read, learn, and support
Jack's mission to reform the industry that has been his life's
work."
-PAUL VOLCKER, Chairman of the President's
Economic Recovery Advisory Board and former Chairman of the Federal
Reserve (1979-1987)
"Jack Bogle has given investors throughout the world more wisdom
and plain financial 'horse sense' than any person in the history of
markets. This compendium of his best writings, particularly his
post-crisis guidance, is absolutely essential reading for investors
and those who care about the future of our
society."
-ARTHUR LEVITT, former Chairman, U. S.
Securities and Exchange Commission
"Jack Bogle is one of the most lucid men in
finance."
-NASSIM N. TALEB, PhD, author of The
Black Swan
"Jack Bogle is one of the financial wise men whose experience
spans the post-World War II years. This book, encompassing his
insights on financial behavior, pitfalls, and remedies, with a special
focus on mutual funds, is an essential read. We can only benefit from
his observations."
-HENRY KAUFMAN, President, Henry
Kaufman & Company, Inc.
"It was not an easy sell. The joke at first was that only
finance professors invested in Vanguard's original index fund. But
what a triumph it has been. And what a focused and passionate drive it
took: it is a zero-sum game and only costs are certain. Thank you,
Jack."
-JEREMY GRANTHAM, Cofounder and Chairman, GMO
"On finance, Jack Bogle thinks unconventionally. So, this sound
rebel turns out to be right most of the time. Meanwhile, many of us
sometimes engage in self-deception. So, this book will set us
straight. And in the last few pages, Jack writes, and I agree, that
Peter Bernstein was a giant. So is Jack
Bogle."
-JEAN-MARIE EVEILLARD, Senior Adviser,
First Eagle Investment Management
Insights into investing and leadership from the founder of The
Vanguard Group
Throughout his legendary career, John Bogle-founder of the Vanguard
mutual fund group and creator of the first index mutual fund-has
helped investors build wealth the right way, while, at the same time,
leading a tireless campaign to restore common sense to the investment world.
A collection of essays based on speeches delivered to professional
groups and college students in recent years, in Don't Count on
It is organized around eight themes
- Illusion versus reality in investing
- Indexing to market returns
- Failures of capitalism
- The flawed structure of the mutual fund industry
- The spirit of entrepreneurship
- What is enough in business, and in life
- Advice to America's future leaders
- The unforgettable characters who have shaped his career
Widely acclaimed for his role as the conscience of the mutual fund
industry and a relentless advocate for individual investors, in
Don't Count on It, Bogle continues to inspire, while pushing
the mutual fund industry to measure up to their promise.
John C. Bogle is the founder of the Vanguard Group
of Mutual Funds 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
magazine named him one of the world's 100 most powerful and
influential people, and Institutional Investor presented him with its
Lifetime Achievement Award. In 2010, Forbes magazine described him as
the person who "has done more good for investors than any other
financier of the past century." Mr. Bogle graduated from Blair
Academy cum laude in 1947 and Princeton University in 1951, magna cum
laude in economics. In 1999, he received the University's Woodrow
Wilson Award for distinguished achievement in the nation's service.
Don't Count on It! is Mr. Bogle's ninth book. His earlier books
include Common Sense on Mutual Funds, The Battle for the
Soul of Capitalism, The Little Book of Common Sense
Investing, and Enough.
