The Blurb On The Back:
Stay The Course is the gripping story of the creation of what would become the largest mutual fund organisation in the world, as told by its founder, John C. Boyle. Readers will come to appreciate Bogle as a unique innovator in the world of mutual funds – an investor who used his market wisdom and business savvy to bring mutual fund investors their fair share of stock and bond market returns. This book will delight anyone who enjoys a good story with a happy ending.
In 1974, when the story of The Vanguard Group began, the idea of a mutual fund that was truly mutual – owned by the fund shareholders themselves and operating on an “at cost” basis with no profits to outside shareholders – was viewed as anathema by many seasoned investors. Not deterred by his colleagues’ caution and, sometimes, outright hostility, John Bogle persevered, building what would become a $5 trillion mutual fund complex.
Vanguard’s remarkable success is inextricably intertwined with the index revolution that has changed the way we think about professional money management. Buying and holding the market portfolio turns out to be the simplest and soundest path to investment success. Bogle’s creation – the S&P 500 Index fund – is the spark that ignited the flame of the index revolution.
Bogle concludes his book with some personal insights. His memoir-like final chapter gives readers some valuable insights into the thinking of Vanguard’s legendary creator. Bogle’s engaging tale overflows with business insights and inspiration that you won’t want to miss.
You can order Stay The Course: The Story Of Vanguard And The Index Revolution by John C. Bogle from Amazon USA, Amazon UK, Waterstone’s or Bookshop.org UK. I earn commission on any purchases made through these links.
The Review (Cut For Spoilers):