“Cogent, honest, and hard-hitting-a must read for every investor.”Warren Buffett
Common Sense on Mutual Funds | John Bogle
First published in 1999 by the late John Bogle, Common Sense on Mutual Funds explains how investors can best use mutual funds to reach their investing goals.
Of course, since its being published the financial industry has changed somewhat, with the rise of the Exchange Traded Fund making most mutual funds somewhat obsolete. Nonetheless, many hundreds of billions of dollars are still under active management in mutual funds in some form or another, and thus the book is just as relevant as it was 20 years ago.
The underlying message: Simplicity, low fees and a common sense indexing approach beats costly, complex structures. Bogle proves with examples how a broadly diversified portfolio will always outperform the majority of active fund managers in the long term.