Editorial Review

Invoking the words and spirit of Thomas Paine, investor-turned-historian John Bogle concedes that his ideas for revamping the mutual-fund industry are perhaps "not yet sufficiently fashionable to procure them general favor." But despite likening the "ills and injustices suffered by mutual fund investors" to those "our forebears suffered under English tyranny," Bogle--founder of the Vanguard Group--makes a strong case for index funds with this exhaustive study of investing.Read more

Reviews (60)

Great book!
This book has the fundamental of indexing and why we should consider it as part of building our financial portfolio. Bogle is at his best preaching the value of indexing and how it relates to lower cost investing. This eventually translates to higher return for the investors and less profit to the brokerage firms that make money on trading.
Insight on The Concept of Indexing
Mr. Bogle, the founder of The Vanguard Group, does an excellent job explaining the value of indexing and shows historical and relative information that bases his knowledge on facts. A great book for any investor, both new and experienced, that will help make your investment strategy more intelligent and educated - especially if you believe that it's almost impossible to beat the market on your own. The book can be difficult to read at times, so make sure your energy level is high before you indulge.

Bogle is Required Reading
Bogle, Bob Brinker, and Jane Bryant Quinn sold me on the idea of index funds. There are some who believe you need to stick to actively managed funds to, as one money manager told me, "be there to steer the plane away from the mountain at the last minute." Hogwash, especially when you consider a lot of blend funds have 95 percent the same allocations as comparable index funds, only you pay the higher expense ratios.
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Finance    5. Investments    6. Investments & Securities - General    7. Investments & Securities - Mutual Funds    8. Mutual funds    9. Business & Economics / Finance    10. Investment & securities   

Reviews (2)

Complementary Book
Start a Successful Mutual Fund by Melinda Gerber lists this book as a recommended read. It definitely complements her book. While hers includes the costs and steps to start a mutual fund (and how to choose service providers), this one shows how a mutual fund's service providers work together. This book is for anyone interested in learning about what goes on to support a mutual fund.

Mutual Fund Industry Handbook
Of all the books I've read on Mutual Funds this one is a true all rounder of a book on the subject. This authoritative work is a must read for beginners and seasoned professionals alike. ... Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Finance    5. Investments & Securities - Mutual Funds    6. Mutual funds    7. United States    8. Business & Economics / Finance    9. Investment & securities    10. USA   

Editorial Review

If you've been burned on Wall Street (and who hasn't?) but still need a practical place to park your savings (who doesn't?), Gregory Baer and Gary Gensler have your number. While somewhat mistitled because it decries "active investing" in individual stocks as well as in mutual funds, Read more

Reviews (24)

Not totally inaccurate
The Great Mutual Fund Trap is primarily a compilation of complaints about mutual funds and conveyed little new or useful information.To a great extent the information could have been consolitated in about a dozen pages, but then it could not have been sold as a book.
Pulled Together the Missing Investment Pieces
I feel this book is a must read for any individual investor who wants long term success. For 10 years I have been trying to become a confident, knowledgable investor. I read the books and magazines, the Financial Times, I roam MSN Money, I listen to radio shows etc. I have experimented and learned a great deal, done some things well and made many mistakes always feeling that most of the time my results--both gains and loses--seem random. I also have an actively managed account that seems to get the same random results I get but for much more expense.Upon reading this book all my experiences came together in a clear understanding that the market is indeed random and how I can best participate in it. Baer and Gensler not only affirm what I had learned here and there from others but many new things as well. They do so with excellent substantiation in a readable, straightforward manner that gave me the confidence I was looking for to make dramatic changes in my financial holdings. They gave me simple, excellent recommendations to execute my plan and navigate past the the traps laid out by investment companies. I agree with one reviewer that I too was amazed at how much I did not know. Filling in those gaps so I cannow make informed choices was certainly worth the small investment in buyng this book.

Social Security Reform Anyone?
In the spirit of Burton Malkiel's A Random Walk Down Wall Street, The Great Mutual Fund Trap proposes that the most viable strategic alternative for investors is passive investing, also known as indexing.
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Industrial Management    5. Investment analysis    6. Investments    7. Investments & Securities - Mutual Funds    8. Mutual funds    9. United States    10. Business & Economics / General   

Reviews (4)

Not a manual, but a discussion of ETFs
This is not a manual for practitioners, or for ordinary people interested in ETFs.It is a discussion of the authors views of ETFs, and why they are generally superior to other investment vehicles.
A comprehensive guide to ETFs
As a consultant to the industry, if you are going to buy one book on ETFs, this is it. Written in a clear and concise manner, this book addresses the needs of institutional investors and professionals alike.

Good practical reference work
Gary Gastineau, a managing director at Nuveen Investments and the author of The Options Manual (1988), has written the most detailed account available in print of open-ended exchange-traded funds: how they work, what are their distinctive characteristics, who trades them (largely, specialists, market makers, and hedge funds), who owns them (largely, brokerage firms clearing and carrying the ETF shares for specialists, market makers, or hedge funds), and what are their advantages and disadvantages over other sorts of investment for various investors.Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Exchange traded funds    5. Investments & Securities - General    6. Investments & Securities - Mutual Funds    7. Stock index futures    8. Business & Economics / Investments & Securities    9. Investment & securities   

Reviews (43)

A Primer On Mutual Funds
Lucid witing, good organization of material and entertaining to boot.For those of us who are intimidated by the jargon and have no idea what they are talking about on such TV programs such as "The Nightly Business News"this is a very good place to start.

Not for dummies--for everybody
As beginners' books go, this is about as good as it gets. Most books assume you know stuff. This one starts from zero and takes you as far as you care to go.
It's a good book if you know nothing
I read previous edition of this book when I did not know anything about mutual funds. I feel that my level of knowledge about different funds has increased substantially compared to before reading this book. Therefore, if you know nothing about funds, I recommend reading this book. ... Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Handbooks, manuals, etc    4. Investments & Securities - General    5. Investments & Securities - Mutual Funds    6. Mutual Funds    7. Personal Finance    8. Personal Finance - Investing    9. United States    10. Business & Economics / Personal Finance / General    11. Investment & securities   

Reviews (3)

I'd give six stars if I could!
This book is clear, concise, and effective.I've read the first four chapters so far, and it has explained everything I've wanted to know about choosing mutual funds.I was absolutely ecstatic when I saw that the chapter on mutual fund management has an overview of the pros and cons of a number of the well-known fund companies.
Deserves "Analyst Pick" Status
Excellent book for learning all about mutual fund investing from the very best in the analysis business.It is a well written and organized guide that is easy to read and understand.All major aspects of investing in mutual funds are covered, including how to "buy low and sell high".

Good book, but I would recommend another.
This book provided a good broad-based overview of mutual funds and endorses modern portfolio theory. The idea being that a properly allocated portfolio of mutual funds with a focus towards long-term investing will work the best for most investors building their retirement savings. Properly balanced over the years, this style will work better than that of active investors trying to chase hot funds and time the market since very few active managers succeed over the long haul.
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Consumer Finance    4. Investments & Securities - Mutual Funds    5. Mutual funds    6. Personal Finance    7. Personal Finance - General    8. Business & Economics / Personal Finance / General    9. Finance & Accounting   

Reviews (10)

Great Book on Index Funds
Although I have been investing in and studying index mutual funds since 1990, I still learned a few things in this book.
An excellent book by a investing expert
Richard Ferri writes a great book on the use of index mutual funds. His advice for the investor is clear and concise. In the book he covers all of the important points that one needs to learn about building a portfolio of index mutual funds. You cannot go wrong following his advice.

Very good book
This book told me all about the various maket indexes and index funds based on the same from fund fundamentals to portfolio suggestions.
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Index mutual funds    5. Investments & Securities - General    6. Investments & Securities - Mutual Funds    7. Mutual Funds    8. United States    9. Business & Economics / Personal Finance / Investing    10. Stocks & shares   

Subjects:  1. Bonds    2. Business & Economics    3. Business / Economics / Finance    4. Business/Economics    5. Consumer Finance    6. Finance    7. Handbooks, manuals, etc    8. Investments & Securities - Mutual Funds    9. Investments & Securities - Stocks    10. Mutual funds    11. Personal Finance - Investing    12. Stocks    13. United States    14. Business & Economics / Personal Finance / Investing    15. Personal finance   

Reviews (3)

Don't waste your money
If you want to pass your exams get the Dearborn series, I failed my 63 using this book and barely passed my 6. The real test closely mirrors dearborn material. If you can pass the practice exams on dearborn then you will pass the real thing. Dearborn forces you to understand the concepts not just definitions...... This book was a waste......

Short but to the point
This book is short, not a lot of material to study, but it also tends to shove a lot of info into one page, so you find yourself spending a lot of time going back over material and re-reading so that you can actually answer the questions on each practice test, which thankfully, there are plenty of. If not fot the many, and seemingly helpful practice tests, this book would get three stars in my opinion.But it is a very good book if you are on a budget.

meh
This book is very short, half of the book are practice questions.
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Subjects:  1. Finance    2. Investments & Securities - Mutual Funds    3. Mutual funds    4. Problems, exercises, etc    5. Professional - General    6. Study Aids    7. Study Guides    8. Investment & securities    9. Study Aids / Study Guides   

Reviews (28)

Introduction to Mutual Fund Investing
I found this book to be an excellent "primer" for the novice investor who wants to learn about the basics of investing in mutual funds.Bogle describes the various types of mutual funds in simple plain language.

Simple but brilliantly concepts
I first became interested in this title because of the positive review by Warren Buffett. There's so much hype in the investing field that you'll save hundreds of hours of wasted time and thousands of dollars in lost money by consulting a genius to separate the wheat from the chaff. It's not always an exciting, easy read but it's essential knowledge if you're investing or planning to invest in funds. Its simple concepts that take some mental work to understand. Those that make big money in individual stock investing normally invest a tremendous amount of time understanding their field AND the particular companies they're risking their money on. If you don't have the time or inclination to do this, mutual funds are one safe way to go.
A must-read book for speculators and traders
This "Definitive Book on Mutual Funds" demonstrates effectively with facts and statistics that common stocks are hugely superior to long-term bonds and cash reserves.(I personally think income-producing real estate is superior to common stocks, but there are no national statistics to prove that.)Read more

Subjects:  1. Business / Economics / Finance    2. Business/Economics    3. Investments & Securities - Mutual Funds    4. Personal Finance - Investing    5. Business & Economics / Personal Finance / Investing    6. Investment & securities    7. Personal finance   

Editorial Review

Although sometimes derided as "plain vanilla" investments when more exotic financial flavors are the rage, mutual funds designed to mirror precisely the performance of a particular index like the Standard & Poor's 500--called, appropriately enough, index mutual funds--have performed solidly if not spectacularly ever since they were first made available to the public in 1976. In Read more

Reviews (5)

Best Book I Have Read on the Advantages of Index Funds
What is an index mutual fund?It is simply any mutual fund that simplymimics a stock index (such as the Standard & Poor's 500, the Mid Cap400, or an international index).Many people equate these funds with theVanguard Index 500 Fund, which John Bogle popularized, but many othersoffer the Standard & Poor's 500 as an index fund . . . and there aremany other indexes you can buy mutual funds for.If you want to know moreabout this subject, this book has excellent explanations in chapter14. Convincing that the index funds are the best way to invest..
I certainly want my dollars invested to yield ME the most. The authors clearly show that managed funds do not put the investor first nor do they match or beat the index funds. A great book--the best I've read on this subject!
Here is a book on investing that is clear, practical and downright interesting.I've always been afraid of the market, but here, at last, is a book in simple English that makes things understandable.And it's not just information.It really is a guide for an investment strategy that hasproven itself not just in this bull market but over the long haul. ... Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Consumer Finance    4. Index mutual funds    5. Investments & Securities - General    6. Investments & Securities - Mutual Funds    7. Mutual Funds    8. Personal Finance    9. Personal Finance - Investing    10. Business & Economics / General   

Reviews (5)

Excellent overview of the mutual fund operations
Must reading to learn the ins and outs of the industry .

An A to Z look at the mutual fund industry
Ever since I began work in the mutual fund industry six years ago, I've looked for books that would increase my understanding of the industry. Many books tell you how to invest in mutual funds and a couple attempt to describe (but in my view unsuccessfully) how the industry works. This week I found and read Gremillion's book on mutual funds. And I was amazed. It's all there. History of the industry, the laws that affect it, how funds are manufactured and distributed, e-business and a lot more. I really enjoyed reading the author's impartial discussion of industry issues like the debate over fees and expenses, active vs. passive management, and the state of the market. Well written, even-handed, and packed with information
This book is written in a clear, non-academic, and easy-to-follow style.And even though he generally speaks well of the industry, the author does not sugar-coat it.A number of illustrative anecdotes (the book is full of these) describe less than exemplary behavior, such as how one Minneapolis money manager ran his funds into the ground speculating on interest rate movements.Read more

Subjects:  1. Business & Economics / Personal Finance / Investing    2. Business/Economics    3. Mutual funds    4. United States    5. Business    6. Business & Economics    7. Personal Finance - Investing   

Reviews (14)

Pozen's 2nd edition (blue cover) is best mutual fund book
The great thing about Pozen's book is that it clarifies a lot of difficult subjects in the mutual fund area.The book is comprehensive but it is especially good on thoroughly demystifying: Excellent Introductory Textbook
Bob Pozen's book is a carefully written introduction to the mutual fund industry. The book is particularly helpful in understanding the institutional aspect of the industry. The cases are an invaluable source for in-class discussion.

Like watching paint dry
Pozen is the man ... Bob revived Fidelity from its post-Peter Lynch slump and bridged the gap between Ned and Abbey; really admirable.Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Finance    5. Investments & Securities - General    6. Investments & Securities - Mutual Funds   

Reviews (7)

An excellent book
I KNOW THE AUTHOR PERSONALLY AND HE HAS WRITTEN A FINE BOOK.

Simple
I've read indexing books by John Bogle, Charles Ellis and Larry Swedroe but this is the book I bought for my niece and nephew.It's concise yet informative and appropriate for anyone with at least a high schooleducation looking for a good explanation of the benefits of indexing.

Good book for beginners
I was a total dummy when it came to investing. I wanted a book to teach me the basics of investing. This book more than met my needs.It only took a couple of hours to read, but it covered the basics of mutual funds, indexfunds, and asset allocation.The book was very easy to read and was notfilled with terminology I did not understand.After reading the book, I amready to start investing in index funds, and I have already started tolearn more about asset allocation.A must read book for people new tomutual fund investing! ... Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Consumer Finance    5. Finance    6. Index mutual funds    7. Investments & Securities - General    8. Investments & Securities - Mutual Funds    9. Personal Finance - Financial Planning    10. Personal Finance - Investing    11. Mutual funds   

Reviews (2)

Muy interesante y de facil lectura
El que no entiende mucho de inversiones deberia leerlo como fue mi caso. Con ejemplos muy sencillos la autora expone las definiciones de muchas palabras confusas para las personas ajenas a Wall Street. El unico comentario negativo es que es dirigido a mujeres aunque su mensaje no tiene sexo.

El libro que cambio mi vida financiera
Este libro recorre el Complejo mundo de las inversiones (en todas y cada una de sus extensas categorias) de una forma extraordinariamente sencilla.
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Subjects:  1. 401(k) plans    2. Business & Economics    3. Business / Economics / Finance    4. General    5. Investments    6. Investments & Securities - Mutual Funds    7. Mutual funds    8. Personal Finance - Financial Planning    9. Personal Finance - Investing    10. Personal Finance - Money Management    11. Reading materials    12. Spanish language    13. Spanish: Adult Nonfiction    14. Business & Economics / Personal Finance / Money Management   

Reviews (71)

Great education for a dummy like me.
Larry Swedroe does a great job explaining the concept of the Modern Portfolio Theory and using index funds in a passive way opposed to a fund dependent on a manager. The first part of the book supports why an investor should avoid the trade magazines,newsletters,and MR. "I know it all" who ends charging you the higest fees and commissions.
Good Introductory Book on Investing...but...
The book is an easy read and can be understood by beginners as well as the experienced.Beware that the author does over state the advantages of indexing and passive investing to some degree--take note of "assumed" realized gain example on page 48--active managed fund of 8% in capital gains vs 1% in passive.If he actually looked at some annual reports of actual mutual funds, the difference between active and passive funds in the tax efficiency area is much less. Strong Foundations For Investors
After reading Larry Swedroe's excellent second and third books I felt compelled to return and read this, his first book.My urge to do so has been more than adequately rewarded by this excellent text.Read more

Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Investments & Securities - General    5. Investments & Securities - Mutual Funds    6. Mutual Funds    7. Personal Finance    8. Personal Finance - Investing    9. Business & Economics / General   

Reviews (32)

Running Money : Hedge Fund Honchos, Monster Markets and My Hunt for the Big Score
great informative book!

A very disappointing read, kind of boring
This book is a real letdown.As other reviewers noted, he wasn't running a typical hedge fund strategy.He just bought and held tech companies, either public or private.And he did this during the .com boom. He had the sense to wind down the fund before the crash. Gosh, he made a lot of money. As I think he himself says, never mistake talent for a Bull market.
Good entertaining book!
It's entertaining, interesting, and well written.Not much investment strategies, but fun reading!
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Hedge funds    5. Investments & Securities - General    6. Investments & Securities - Mutual Funds    7. Personal Finance - Investing    8. Business & Economics / Investments & Securities   

Reviews (14)

As clear as it can get
I was totally ignorant about mutual funds when I got this book. Even though I was at a beginner level, I found this book was so clearly written I had no trouble understanding it.I have read it cover to cover several times, and feel that I now understand the pros and cons of using mutual funds as part of my financial plan, what the different types of funds are, and how to read and understand a prospectus or financial report. It is important to understand the risks of various types of investments, and to determine what is suitable for your personal comfort level, regardless of what experts may advise. I think Morningstar does a good job of explaining this aspect of investing.
Learn the Fundamental Principles of Wise Investing
Technical analysis may be necessary to wring every last penny out of your investment portfolio, but knowing and implementing the time-tested knowledge of the fundamentals is what guides a new or seasoned investor safely along the path to success.Guide To Mutual Funds 5-Star Strategies for Success is essential to new investors to help them establish their safe place in the investment community.This 'textbook' presents and explains most all of the most important investment tools and concepts to safely invest in bonds, stocks and mutual funds.It explains how to properly gauge and understand risks, the import role of the fund manager, how to build and manage a portfolio of investments, the value of, and how to use Morningstar investment analysis tools, investing in bear and bull markets, the challenges of investing in sector funds, identifying sell flags, and other essential knowledge and wisdom which will build an investor's skill and confidence in investing. I give it five stars!
MorningStar User Guide
I was so excited to find this book, after reading the usual junk, the classics, surfing hundreds of websites -- and yes, leaving lots of money on Brokers Conference Room Tables. {If only I knew then, what I know now.}
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Subjects:  1. Business & Economics    2. Business / Economics / Finance    3. Business/Economics    4. Finance    5. Investments    6. Investments & Securities - General    7. Investments & Securities - Mutual Funds    8. Mutual Funds    9. Personal Finance - General    10. Investment & securities   

Reviews (9)

John Bugle, one of the brightest minds of our century
John Bugle, one of the brightest minds of our century raises some of the most important financial questions, of the last 50 years.Bogle on Great Ideas in Financing includes four criteria: 1. Simplicity - Buy the whole market haystack, an index capable of matching the market. 2. Focus (Seek the hard crusted but nutritious bagel of earnings, dividends, and interest yields rather than the sweet donut taste of price with its high price earning multiples) 3. Efficiency (minimize frictional costs of fees, commissions, and taxes with an Wilshire 5000 index).4. Stewardship (keep the interest of the client first).Bogle's index was free of tax, include a small transactional fee, represented 8000 stocks in the market, and matched the market rate of return.