Stay the Course: The Story of Vanguard and the Index Revolution - Hardcover

Über die Autorin bzw. den Autor

JOHN C. BOGLE is the founder and former CEO of The Vanguard Group and the world's first index mutual fund. A graduate of Blair Academy and Princeton University, he has spent his entire career in the mutual fund industry—67 years (and counting).

Stay the Course is Mr. Bogle's twelfth book, a string that began with Bogle on Mutual Funds (1993). Subsequent books include: Common Sense on Mutual Funds (1999, updated 2010), The Battle for the Soul of Capitalism (2005), Enough. (2008), and The Little Book of Common Sense Investing (2007) and its 10th Anniversary Edition (2017).

A prolific writer for the investment profession, Mr. Bogle has had 28 of his papers published in the The Financial Analysts Journal and The Journal of Portfolio Management. In 1998, CFA (Chartered Financial Analysts) Institute presented Bogle with its highest homage, the Award for Professional Excellence.

For his extraordinary lifetime achievements in serving investors, Bogle has received honorary doctorate degrees from 13 universities, including Princeton, Georgetown, Delaware, Villanova, and Trinity. In 2004, TIME magazine named him as one of "the world's 100 most influential people."

Despite a devastating setback in his career in 1974, and frequent serious health challenges (he received a heart transplant in 1996), John Bogle remains fully active in his career and with his family—wife Eve, six children, twelve grandchildren, and (so far) six great-grandchildren.

His advice to his family is the same as his advice to investors, entrepreneurs, and readers of this book: "In good times and bad times alike, Stay the Course."

Von der hinteren Coverseite

Stay the Course is the gripping story of the creation of what would become largest mutual fund organization in the world, as told by its founder, John C. Bogle. 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.