by Jeff Reeves | August 28, 2012 2:14 pm
Investing icon Jack Bogle has many written works on the art and science of Wall Street. His latest book is not just a continuation of his common-sense narrative on mutual funds and capital markets, but also a checklist for investors of all stripes.
Bogle was the founder and CEO of the Vanguard Group, and pioneered the idea of low-cost index funds. His strategy of low risk and low cost was first broadcast to the masses in Common Sense on Mutual Funds: New Imperatives for the Intelligent Investor and most recently in his 10th and final text, The Clash of the Cultures: Investment vs. Speculation.
In Clash of the Cultures, Bogle closes with this simple list of 10 things that individual investors need to learn in order to balance the quest for instant profit (speculation) with the need for stability and long-term performance (investment).
Allan S. Roth, the founder of Wealth Logic, recently recapped these rules in a column on CBS MoneyWatch and capped his list with this note:
“Bogle’s book raised some concerns for me over the future of this great clash of the cultures, yet it also left me with hope. One reason is he notes that index funds represented only 3 percent of equity assets 20 years ago compared with 28 percent today. And though Jack Bogle will never be able to convince most financial professionals of their disservice to clients, he appears to be having success persuading an increasing number of investors to keep away from the fox.”
If you’re a retail investor looking for ways to beat the house, Jack Bogle should be one of your role models. This list is a great reference for stock market junkies and novice investors alike.
Jeff Reeves is the editor of InvestorPlace.com and the author of “The Frugal Investor’s Guide to Finding Great Stocks.” Write him at email@example.com or follow him on Twitter via @JeffReevesIP. As of this writing, he did not own a position in any of the stocks named here.
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