Bogle's prudent advocacy of the rights of individual investors began with his 1951 Princeton University thesis on the fund industry, and he continues to champion the restoration of integrity in industry practices today. An astute observer, he knows that a trustworthy business and financial complex is essential to America's continuing leadership in the world and to economic and social progress at home.
This audiobook explains much more than what went wrong. More important, it tells us why we lost our way and how we can right our course. The specific reforms Bogle advances are practical and essential, and he includes recommendations for assuring that investors receive their fair share of financial-market returns.
©2005 John C. Bogle; (P)2006 Audio Evolution, LLC
"When John Bogle, a 50-year veteran in financial services, says capitalism is in trouble, there is only one proper reaction. You listen....Remarkably well read and logical, Bogle is meticulous in supporting his thesis that our brand of capitalism is failing because of a shift of power away from owners." (USA Today)
A very interesting book that shines light on Wall Street's dirty little secret. They are skimming off billions of dollars through small fees charged to investors in mutual funds. The reason they can get away with this is that fund ownership is so disperse, individual investors have no control. Ownership has been divorced from management. If you invest in a mutual fund, you ought to read this book.
The author might want to start by studying the father of capitalism (Adam Smith). In any free exchange both parties benefit. If investors feel they are being taken advantage of they should change the way they invest. A capitalist doesn't depend on regulators for "protection". If you want a socialist view on the benefits of capitalism then read this book. If you believe that capitalism is not just the best means of allocating resources but is a matter of freedom, you will have a hard time with this book!
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