For almost a decade now, this has been my bible on mutual funds.Using a straightforward and candid approach, Vanguard founder John Bogle explains every aspect of mutual funds and the industry behind them.Never does Bogle exaggerate information or mislead the reader as many other financial "guru's" do to sell their books.He is a true consumer advocate and his goal is clearly to educate.Covered is everything from stocks, bonds, money market funds, indexing, asset allocation, expense ratio's and the risks inherent not only in investing but in not investing (e.g. the erosion of the dollar vs. inflation in "safe" investments).Bogle utilizes numerous graphs and statistical data throughout the book to help make his point and to allow the reader increased comprehension.
It is important to note that this book was published in the early 1990's.Since then capital gains tax laws have changed and the Roth IRA was yet to be created.For more up-to-date information I would recommend reading Bogle's newer book, Common Sense on Mutual Funds. Nevertheless, Bogle On Mutal Funds is a great place to start educating yourself to become more financially savvy.This book has been invaluable to me and I believe it is key to my investing success.I find myself often referring to it, expecially now in these turbulent market times just to hear Mr. Bogle remind me to, "stay the course" and I will be rewarded.No wonder so many admirers refer to the beloved Mr. Bogle as, "Saint Jack."
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