Common Sense on Mutual Funds
The founder of Vanguard explains why costs decide most investment returns, and why index funds usually come out ahead.
John C. Bogle, founder of Vanguard and pioneer of the index fund, makes his case for investing through low-cost funds that track the market. He explains how fees, trading costs and taxes eat into returns, why most active managers fail to beat the index over time, and what investors should look for in a fund. This tenth anniversary edition updates the data and carries a foreword by David Swensen.
Recommended by 1 Person
Jason Zweig
It’s a wonderful, comprehensive introduction to how the financial markets work. It shows who has your interests at heart, and what the various self-interests are, of all the people you are likely to encounter when you invest.
Interview · September 2017
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