The Clash of the Cultures
Vanguard founder John Bogle argues that long-term investing has been crowded out by short-term speculation, and makes the case to return to basics.
John Bogle, who founded Vanguard and popularized the index fund, argues that a patient culture of long-term investing has been overrun by a costly culture of short-term speculation. He traces how trading, fees, and financial engineering came to drain value from ordinary savers, and he calls for a return to simple, low-cost, buy-and-hold principles. The book is both a history and a plea from one of investing’s most persistent reformers.
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