∨ Kindle Download [ Don't Count on It!: Reflections on Investment Illusions, Capitalism, "Mutual" Funds, Indexing, Entrepreneurship, Idealism, and Heroes ] For Free ↫ Kindle Ebook By John C Bogle ∀ ∨ Kindle Download [ Don't Count on It!: Reflections on Investment Illusions, Capitalism, "Mutual" Funds, Indexing, Entrepreneurship, Idealism, and Heroes ] For Free ↫ Kindle Ebook By John C Bogle ∀ Q one that can easily mean the difference between achieving one s long term financial goals and falling well short of them. If you could change just one thing about the practice of capitalism today, what would it be, and why is it the most important The biggest problem with capitalism today is our tremendous focus on the short term Institutional investors who own 70% of our corporations are predominantly concerned with whether or not the quarterly earnings of the companies they own will meet the stock market s expectations As a result, our corporate managers move heaven and earth to try to meet those targets, so as to keep their firm s stock price high and maximize their stock based compensation But building corporate value over the long term is hard there are no quick or easy shortcuts And as the past decade has demonstrated, decisions made to boost earnings and stock prices in the short term tend to end up destroying shareholder value over the long term The sooner we can realign our focus from the short term to the long term, the better for all concerned What do you think about ETFs I like some I am appalled by others Specifically, I favor low cost ETFs that are focused on broadly diversified portfolios of stocks and bonds that investors can hold for a lifetime These ETFs should provide investors with their fair share of whatever the returns our financial markets will provide That s a winner s game. On the other hand, I m not happy with ETFs the vast majority that exist to enable investors to speculate, to play their hunches on which country or market sector will outperform or underperform over the short term The turnover rates are enormous, holding periods are measured in mere days, and costs are far higher than those levied by broad market ETFs That kind of speculation is a loser s game So I believe that ETFs have the potential to play a significant role in the portfolios of long term investors Unfortunately, to this point their use seems to be dominated by those engaged in far destructive investment approaches. You talk about inspiring the next generation of leaders and your mentors in Don t Count on It What did your mentors have in common that you think is the most important trait in inspiring young people today In other words, how can each of us be better mentors I think at the most basic level, my mentors were good people men of strong character who loved their work They realized that the work they did made a difference in people s lives, and they did that work with a great deal of ability, pride, and professionalism They woke up every day and tried their best to make the world a little bit better That s what I took away from the relationships I had with my mentors, and the extent that I ve been able to emulate them, I think, explains a great deal of what I ve been able to accomplish in my own career. My views on mentoring have a lot in common with the themes of Don t Count on It That is, these relationships are largely built upon trust, and attempts to quantify them are doomed to failure Mentoring, in my mind, is less about helping someone fill out a checklist of accomplishments, and much about passing along the immeasurable qualities one needs to be successful in their field character, professionalism, honesty, intellectual curiosity, even humor If you possess sufficient amounts of those characteristics, you re likely to be successful in whatever field you work in. Praise for Don t Count On It This collection of Jack Bogle s writings couldn t be timely The clarity of his thinkingand his insistence on the relevance of ethical standardsare totally relevant as we strive to rebuild a broken financial system For too many years, his strong voice has been lost amid the cacophony of competing self interests, misdirected complexity, and unbounded greed Read, learn, and support Jack s mission to reform the industry that has been his life s work PAUL VOLCKER, Chairman of the President s Economic Recovery Advisory Board and former Chairman of the Federal Reserve 19791987 Jack Bogle has given investors throughout the world wisdom and plain financial horse sense than any person in the history of markets This compendium of his best writings, particularly his post crisis guidance, is absolutely essential reading for investors and those who care about the future of our society ARTHUR LEVITT, former Chairman, U.S Securities and Exchange Commission Jack Bogle is one of the most lucid men in finance NASSIM N.TALEB, PhD, author of The Black Swan Jack Bogle is one of the financial wise men whose experience spans the postWorld War II years This book, encompassing his insights on financial behavior, pitfalls, and remedies, with a special focus on mutual funds, is an essential read We can only benefit from his observations HENRY KAUFMAN, President, Henry Kaufman Company, Inc It was not an easy sell The joke at first was that only finance professors invested in Vanguard s original index fund But what a triumph it has been And what a focused and passionate drive it took it is a zero sum game and only costs are certain Thank you, Jack JEREMY GRANTHAM, Cofounder and Chairman, GMO On finance, Jack Bogle thinks unconventionally So, this sound rebel turns out to be right most of the time Meanwhile, many of us sometimes engage in self deception So, this book will set us straight And in the last few pages, Jack writes, and I agree, that Peter Bernstein was a giant So is Jack Bogle JEAN MARIE EVEILLARD, Senior Adviser, First Eagle Investment Management Insights into investing and leadership from the founder of The Vanguard Group Throughout his legendary career, John Bogle founder of the Vanguard mutual fund group and creator of the first index mutual fund has helped investors build wealth the right way, while, at the same time, leading a tireless campaign to restore common sense to the investment world A collection of essays based on speeches delivered to professional groups and college students in recent years, in Don t Count on It is organized around eight themes Illusion versus reality in investing Indexing to market returns Failures of capitalism The flawed structure of the mutual fund industry The spirit of entrepreneurship What is enough in business, and in life Advice to America s future leaders The unforgettable characters who have shaped his career Widely acclaimed for his role as the conscience of the mutual fund industry and a relentless advocate for individual investors, in Don t Count on It, Bogle continues to inspire, while pushing the mutual fund industry to measure up to their promise. 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Executive Officer until Senior Enough True Measures Money, Business, Life puts obsession financial success perspective Throughout his legendary career, founder Mutual Fund Group creator first index mutual fund helped investors build wealth right tireless restore common sense investment Book Review Enough Mrs Money Mustache forwarded me interesting video clip on YouTube wise old guy dishing some very humble sensible lessons livin SP vs Total Stock Market Feb recently wrote column entitled Case against Index FundsIn column, noted two flaws pointed better way, namely Home Bartle Hegarty Hegarty BBH full service global creative agency network digital age rooted difference, well we call zagging Bogle, Deascentis Coughlin, PCKILA Kerry Ryan appointed Chair Public Law Section Massachusetts Bar Association For nearly years, provided high quality personalized legal services municipalities businesses which Bogleheads Investing Advice Info title adopted investing enthusiasts participate site term intended honor investor advocate emphasize starting early, living below one means, regular saving, broad diversification, simplicity rules CBS News MoneyWatch Clash Cultures Investment Speculation pioneer tenth last bookIt enjoyable read ends Stupidest Thing Can Do With Your Here where learn ideas episode SOURCES Bogle, Eugene Fama, professor finance at University Chicago Kenneth French, Dartmouth College Barry Ritholtz, co CIO Ritholtz Wealth Management Anthony Scaramucci, White House Communications Director Kani Wikipedia This biography person needs additional citations verification Please help adding reliable sourcesContentious material persons unsourced poorly sourced must be removed immediately, especially if potentially libelous Greatest Investors Templeton Templeton name will forever associated globally diversified funds Born into poor Tennessee family eve First World War, went attend Yale Don't Count on It!: Reflections on Investment Illusions, Capitalism, "Mutual" Funds, Indexing, Entrepreneurship, Idealism, and Heroes

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