The clash of the cultures
Subtitle: investment vs. speculation
By: John C. Bogle
Publisher: John Wiley & Sons
Published: 2012
Place of publication: Hoboken, N.J
Language: eng
Number of pages: 353
ISBN-13: 9781118122778
Subjects: Speculation; Investments; Capital gains
Description: Vanguard Group founder John C. Bogle discusses changes in the culture of the mutual fund industry and how speculation has come to dominate investment. The book presents a hard-hitting look from the creator of the first index fund. Over the course of his sixty-year career in the mutual fund industry, the author has witnessed a massive shift in the culture of the financial sector. The prudent, value-adding culture of long-term investment has been crowded out by an aggressive, value-destroying culture of short-term speculation. Mr. Bogle has not been merely an eye-witness to these changes, but one of the financial sector's most active participants. At the end, he offers advice for investors and a warning for speculators.
Notes: Includes index.
Table of contents: title: The clash of the cultures; title: The double-agency society and the happy conspiracy; title: The silence of the funds : why mutual funds must speak out on the governance of our nation's corporations; title: The change in the "mutual" fund culture; title: Are fund managers true fiduciaries? The stewardship quotient; title: The index fund : the rise of the fortress of investment and its challenge by short-term speculation; title: America's retirement system; title: too much speculation, too little investment; title: The rise, fall, and renaissance of Wellington Fund : a case study; title: investment wins, speculation loses; title: 10 simple rules for investors and a warning for speculators.