Enough by John C Bogle – A Book Review

Title and author: Enough. By John C. Bogle

Contents synopsis:

John Bogle, the renowned founder of the Vanguard 500 Fund and a “nice guy” on Wall Street, has written a fabulous book for our times. In “Enough”. Bogle describes what has really gone wrong with Wall Street and the finance profession while passing on some wonderful, time-tested investment advice and principles. The general theme of his thesis, as set out in David Brooks’s New York Times editorial, which Bogle uses as an introduction, is that America’s great financial and business tradition has been based, until relatively recently, on ideas of industry, ambition and frugality. Of course there were exceptions, but they proved the rule.

Bogle demonstrates how there is too much cost and not enough value for money based on what Bogle describes as excessive fees and costs for mutual funds and other vehicles. In Too Much Speculation Not Enough Investing, he shows the underperformance of the speculative investment model and the comparative strength of the long-term investment model on which, of course, the Vanguard fund is based.

Bogle also addresses the issues of trust, professional standards, management and leadership concepts in both business and finance or more to the point where those qualities are lacking today.

However, it does not leave the general public out of the picture. We too, he insists, are too interested in things, not enough in commitment, too much in so-called 21st century values ​​and not enough in 18th century values, too much in success and not enough in success. character.

It concludes with a look at what is in all of this for me and you and for the future of our nation.

This book is partly about Bogle’s journey through the finance profession, partly about the changes he brought about and the changes he witnessed, partly about what is wrong with our business and political system and our own belief systems, and in part it is a healthy dose. of old-fashioned ideas that we may have an urgent need to review.

This is an outstanding book on many levels. Bogle’s tour of what’s right and what’s wrong in the financial industry should be required reading in the White House, in Congress, and in America’s homes. His recipes for reform deserve some attention and consideration. Perhaps most importantly, their tips on what you can and should do to protect your financial future are worth reading.

Readability / Writing quality:

The book is well written and easy to follow. It flows well, is well organized, and is as entertaining as it is informative.

Notes on the author:

John C. Bogle is the founder and former CEO of the Vanguard Mutual Fund Group and president of the Bogle Financial Markets Research Center, a foundation he founded upon his “retirement” from his CEO role. In 1999 Fortune magazine named Bogle one of the four investment giants of the 20th century and in 2004 Hour named him one of the most powerful and influential people in the world. He has written 7 books, including his 2007 best seller, The Little Book of Common Sense Investing (Wiley).

Three great ideas you can use:

1. Follow the lead of Warren Buffet, Charlie Munger, and John C. Bogle – invest long-term in quality investments with enough diversification to protect your interests – avoid the temptations of day trading, rising stars, quick wins, and more. speculative investment schemes. Also, avoid middlemen and funds that represent they do these things.

2. Past performance never adequately predicts future performance in the market, but adherence to prudence and principles is a solid foundation for investing, just as it is for other important areas of life.

3. As a nation and as individuals, we would do well to reexamine the principles and wisdom of the Age of Reason that our ancestors used to establish this nation and make it the most successful enterprise in human history.

Publication information: Enough. By John C. Bogle © 2009 by John C. Bogle. Posted by John Wiley & Sons.

General rating: Excellent