The Little Book of Common Sense Investing
John Bogle's short case for owning the whole market cheaply and leaving it alone
Vanguard founder John C. Bogle's 2007 book, updated in 2017, makes one argument and makes it thoroughly: over long periods almost nobody beats the market after costs, so own the entire market through a low-cost index fund and hold it. Each short chapter takes one objection, from star managers to market timing to fancier index products, and answers it with the arithmetic of fees. Usually the first book handed to a beginner who wants to invest and never think about it again.
Who backs it
Sorted by strength of stance
- Warren BuffettRecommends
Investor · Berkshire Hathaway chairman
A few investment managers are very good, he conceded in the 2014 letter, but in the short run it is hard to tell luck from talent. Rather than listen to their siren songs, he wrote, investors large and small should read Bogle's book instead.
Source: Berkshire Hathaway: 2014 Chairman's Letter
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