Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition Audible Audiobook – Unabridged

John C Bogle (Author), Scott Peterson (Narrator), Gildan Media, LLC (Publisher)

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John Bogle - founder of the Vanguard Mutual Fund Group and creator of the first index mutual fund - is an industry pioneer. Over the years, he has single-handedly transformed the mutual fund business, and today, his vision continues to inspire investors .It has been over a decade since the original edition of Common Sense on Mutual Funds was first published. While much has changed during this time, the importance of investing and the issues addressed in the original edition of this book have not. Now, in the Fully Updated 10th Anniversary Edition of Common Sense on Mutual Funds, Bogle returns to update his in-depth look at mutual funds and the business of investing - helping you navigate through the staggering array of investment options found in today's evolving investment landscape.

Timely and timeless, this important audiobook examines the fundamentals of mutual fund investing in turbulent market environments and offers valuable guidance for building an investment portfolio. Along the way, Bogle shows you that simplicity and common sense still trump costly complexity, and that a low cost, broadly diversified portfolio continues to be the best way to build wealth at the lowest cost and risk - and will almost always outperform more expensive, actively managed mutual funds.Throughout, Bogle skillfully presents a platform for intelligent investing as he analyzes costs, exposes tax inefficiencies, and warns of the mutual fund industry's conflicting interests.

Emphasizing long-term investing and asset allocation, Bogle offers sensible solutions to the fund selection process and reveals what it will take to make it in today's chaotic market. Securing your financial future has never seemed more difficult, but after listening to this revised and updated edition of Common Sense on Mutual Funds, you will become a better investor. From stock and bond funds to global investing and index funds, this audiobook will help you regain your financial footing and make more informed investment decisions.

Listening Length

20 hours and 49 minutes
Author

John C Bogle
Narrator

Scott Peterson
Audible release date

March 14, 2012
Language

English
Publisher

Gildan Media, LLC
ASIN

B007K4QWME
Version

Unabridged
Program Type

Audiobook
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Product details

Listening Length	20 hours and 49 minutes
Author	John C Bogle
Narrator	Scott Peterson
Whispersync for Voice	Ready
Audible.com Release Date	March 14, 2012
Publisher	Gildan Media, LLC
Program Type	Audiobook
Version	Unabridged
Language	English
ASIN	B007K4QWME
Best Sellers Rank	#66,591 in Audible Books & Originals (See Top 100 in Audible Books & Originals) #80 in Mutual Funds Investing (Books) #439 in Investing & Trading #806 in Personal Finance (Audible Books & Originals)

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Zach

Great Information, Slow Read

Reviewed in the United States on August 24, 2018

Verified Purchase

Before digging into the book itself, it is important to recognize the work of John C. Bogle in the financial services industry. As briefly highlighted in the book, Bogle started the Vanguard investment fund to test a thesis put out by a prominent researcher on the merits of "indexing". He created the fund on the idea that investors shouldn't have to pay exorbitant management fees or transaction fees when putting their money away in a fund. The work he has done cannot be matched, and the 500+ pages of this book prove it page after page.

That said, I cannot give this book a 5 star rating because in my eyes, it spends far too long discussing a far too simple premise. The premise is straightforward and can be gleamed from the first few pages of reading.

"On average, investors would be better off to invest in an large cap index fund like the S&P 500 for the long term than any other investment strategy".

If you are convinced of this line of reasoning already, this book may not be worth reading cover to cover. Bogle does state near the beginning of the book, "My goal has been to make each chapter a freestanding and indepedent essay on a particular issue". In my opinion, this book is an essential "manual" for personal investment strategy, but does not suffice for a casual weekend read. The text ruminates on the topic of mutual funds to the point where the read feels like the logical arguments are going in circles. Bogle does argue his points well though and backs them up with large amounts of historical data while also injecting his personal wisdom every so often (the true gem of the book).

As a millenial who has taken the personal computer revolution for granted, it is tough to appreciate the weight of this book. U.S. mutual funds now hold over $2.5 T of U.S. equity securities compared to the $40 B in 1982, and even more startling, the concept of "indexing" is actually a novel idea still. It was hard for me to grasp the innovation of indexing because I have always found it to be an obvious idea. We have fast computers and lots of stock data, so why not index?

Although my demographic (23 years of age) was probably a primary target of this text, I feel that it did not accomplish the task of compelling my thinking enough to read it straight through. Definitely worth a purchase, but I plan to peruse the chapters in random order as I need them rather than sit down and read the book cover to cover.

50 people found this helpful

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Andrew

Fantastic Book

Reviewed in the United States on June 8, 2022

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This book is absolutely fantastic. Definitely one of the best. I’ve read what seems like dozens and dozens of books on the subject of investing and nothing compares to the depth of mutual fund analysis that this book gives. If you’ve read anything from Bogle before you know what you’re getting into. He is rather repetitive and occasionally can come off as quite boastful. You’d have a hard time finding a book from him where he doesn’t mention he graduated magna cum laude from Princeton. In the end of the book he mentions he has both an ego and humility. That’s right on the money. I admire the heck out of him, but I do find this aspect about him kind of funny given what Vanguard stands for and his ability to remain above the fray compared to rest of the industry which is sort of a swamp. I don’t have an issue with the repetitiveness. I find it helps me retain what he has written much better. When you read the same dang thing over and over and over you typically remember it well.

If you want a shorter book on mutual funds you could check out Bogle on Mutual Funds. About half the length, more outdated than this book, but still excellent and useful. This book is great for someone who wants to know all things mutual funds and really do a deep dive into the area.

The book was written in ‘99, but has updated commentary parts highlighted in red throughout the book. These updated sections were added 10 years after the original publication. They are sort of reflections on what he originally wrote back in ‘99. This is great and allows you to compare and contrast changes in the securities markets. I found it especially interesting to compare the original text to the updated section in regards to the internet bubble that happened soon after the book was originally published.

This thing can be read cover to cover and it reads just fine. I could also see it being used more as a reference book for mutual funds that sits on your shelf. Either way, you’re sure to gain a lot of valuable info from this masterpiece.

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J. Colbert

Still the best

Reviewed in the United States on January 30, 2011

Verified Purchase

I have used all my spare time since 2007 to read and study about investing. I have read over 100 books from Graham, Malkiel, Ellis, and Schwed, to {Wm.] Bernstein, Swedroe, Swenson, and Zweig, as well as all of John Bogle's books [I am reading his latest, "Don't Count On It!" right now].

This book is the one I would pick if I could only pick one for a friend or family member to read and learn about investing. It covers a lot of material, basically everything most people will need to know for safe and successful investing, but does not get into higher math or complexity which would lose too many readers. Still, even seasoned investors will learn from [and benefit from a re-reading of] this book. The older edition was the best book on investing even though the data was getting old and it did not cover newer topics like ETFs, the new edition remedies both these things.

Buy and read this book [and re-read it in a few years, or during the next financial downturn, whichever comes first], you will be happy that you did, and profit in more ways than just your 401k balance.

9 people found this helpful

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John A. Macbain

For those willing to put in the time to understand ...

Reviewed in the United States on April 11, 2015

Verified Purchase

For those willing to put in the time to understand the data and Bogle's argument, this book is priceless. For those still willing to believe in the stock selection fairy and managed funds and ignore the data, proceed at your own peril. There is a reason the Vanguard index funds have been growing to astounding sizes and why (largely) passive asset allocation with a proven rebalancing strategy does indeed outperform the vast majority of financial managers over time. Stop shooting yourself in the foot most times that you touch your finances and follow Jack Bogle and William Bernstein.

2 people found this helpful

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Top reviews from other countries

Mr RA

A summary of the high priest of Index Funds main message!

Reviewed in the United Kingdom on November 4, 2018

Verified Purchase

This book is 605 pages long!

Way too long for what the author is advocating which I am going to give you a breakdown:

1) In the short term, stocks are more volatile than bonds but produce a greater return in the long term
2) A younger investor with a longer investing outlook should allocate more of their capital in common stocks and less in bonds but the reverse for an older investor with shorter time outlook.
3) The likelihood of active investing in producing consistent returns is poor for the long-term as few managers have consistently outperformed the market.
4) An index fund is the surest way to capture returns from the whole market
5) Go for an index fund that has the lowest cost and lowest turnover to maximise returns for the investor
6) Make sure the index represents the whole market and has a cap on how much funding it is open too.
7) Use these principles to invest in both bonds and index funds
8) Take home message the lowest cost fund with the lowest turnover produces the best result in the long term.

For the message, I give the book 5 Stars!

17 people found this helpful

Vincze Szilard

Peace of mind to have it and read it when in doubt

Reviewed in the United Kingdom on January 7, 2018

Verified Purchase

I have been investing in ETFs with huge leverages such as 1:100 to 1:500 (Stupid me) - lost around 13k Eur back in 2012 just before Christmas on Dow Jones being leveraged at 1:50. Since 2012 until I read this book I had no will power to invest, nor the knowledge to do so. Clearly did not understand what I was doing, went after get rich quick schemes and all that. After I have read this book I am owning a portfolio of over 40k and I am going to bed with the power of knowledge and not worrying about my investment. My family and my spouses family is also now trusting the information I am giving them. It is for your peace of mind to have this book.

4 people found this helpful

Only Thinking...

This excellent 600 page book is longer than it needs to ...

Reviewed in the United Kingdom on July 27, 2014

Verified Purchase

This excellent 600 page book is longer than it needs to be. The essential message is repeated umpteen times. However there are very many useful suggestions which are supported by extensive evidence and analysis. The whole book is underpinned by a lifetime of experience in the markets, so it's worth making the effort.

One person found this helpful

Haider

Excellent read

Reviewed in the United Kingdom on December 16, 2021

Verified Purchase

Very convincing arguments, good use of data would say that most explanations are in a way which makes sense only for those who have some basic financial knowledge like economic variables, understanding of bond market terms like yields and knowledge of broader financial market terms like measuring risk/volatility.

Geoff Anderson

One slant on Funds

Reviewed in the United Kingdom on January 23, 2016

Verified Purchase

A good treatise of Bogles view of investing well argued but not I any way wide reaching

One person found this helpful

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