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The Blurb On The Back:
Stay The Course is the gripping story of the creation of what would become the largest mutual fund organisation in the world, as told by its founder, John C. Boyle. Readers will come to appreciate Bogle as a unique innovator in the world of mutual funds - an investor who used his market wisdom and business savvy to bring mutual fund investors their fair share of stock and bond market returns. This book will delight anyone who enjoys a good story with a happy ending.
In 1974, when the story of The Vanguard Group began, the idea of a mutual fund that was truly mutual - owned by the fund shareholders themselves and operating on an “at cost” basis with no profits to outside shareholders - was viewed as anathema by many seasoned investors. Not deterred by his colleagues’ caution and, sometimes, outright hostility, John Bogle persevered, building what would become a $5 trillion mutual fund complex.
Vanguard’s remarkable success is inextricably intertwined with the index revolution that has changed the way we think about professional money management. Buying and holding the market portfolio turns out to be the simplest and soundest path to investment success. Bogle’s creation - the S&P 500 Index fund - is the spark that ignited the flame of the index revolution.
Bogle concludes his book with some personal insights. His memoir-like final chapter gives readers some valuable insights into the thinking of Vanguard’s legendary creator. Bogle’s engaging tale overflows with business insights and inspiration that you won’t want to miss.
( The Review (Cut For Spoilers): )
The Verdict:
John C Bogle was the founder and former CEO of The Vanguard Group (creator of the world’s first index mutual fund). This book is part corporate history on Vanguard’s origin and development and part life lessons drawn from his considerable experience but despite some interesting nuggets here neither part really satisfies as the corporate history dwells too heavily on fund performance and the life lessons are brief and superficial.
Thanks to the Amazon Vine Programme for the review copy of this book.
Stay The Course is the gripping story of the creation of what would become the largest mutual fund organisation in the world, as told by its founder, John C. Boyle. Readers will come to appreciate Bogle as a unique innovator in the world of mutual funds - an investor who used his market wisdom and business savvy to bring mutual fund investors their fair share of stock and bond market returns. This book will delight anyone who enjoys a good story with a happy ending.
In 1974, when the story of The Vanguard Group began, the idea of a mutual fund that was truly mutual - owned by the fund shareholders themselves and operating on an “at cost” basis with no profits to outside shareholders - was viewed as anathema by many seasoned investors. Not deterred by his colleagues’ caution and, sometimes, outright hostility, John Bogle persevered, building what would become a $5 trillion mutual fund complex.
Vanguard’s remarkable success is inextricably intertwined with the index revolution that has changed the way we think about professional money management. Buying and holding the market portfolio turns out to be the simplest and soundest path to investment success. Bogle’s creation - the S&P 500 Index fund - is the spark that ignited the flame of the index revolution.
Bogle concludes his book with some personal insights. His memoir-like final chapter gives readers some valuable insights into the thinking of Vanguard’s legendary creator. Bogle’s engaging tale overflows with business insights and inspiration that you won’t want to miss.
( The Review (Cut For Spoilers): )
The Verdict:
John C Bogle was the founder and former CEO of The Vanguard Group (creator of the world’s first index mutual fund). This book is part corporate history on Vanguard’s origin and development and part life lessons drawn from his considerable experience but despite some interesting nuggets here neither part really satisfies as the corporate history dwells too heavily on fund performance and the life lessons are brief and superficial.
Thanks to the Amazon Vine Programme for the review copy of this book.
