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Investing is all about common sense. Owning a diversified portfolioof stocks and holding it for the long term is a winner’sgame. Trying to beat the stock market is theoretically a zero-sumgame (for every winner, there must be a loser), but after thesubstantial costs of investing are deducted, it becomes aloser’s game. Common sense tells us—and historyconfirms—that the simplest and most efficient investmentstrategy is to buy and hold all of the nation’s publicly heldbusinesses at very low cost. The classic index fund that owns thismarket portfolio is the only investment that guarantees youwith your fair share of stock market returns.

To learn how to make index investing work for you, there’sno better mentor than legendary mutual fund industry veteran JohnC. Bogle. Over the course of his long career, Bogle—founderof the Vanguard Group and creator of the world’s first indexmutual fund—has relied primarily on index investing to helpVanguard’s clients build substantial wealth. Now, with TheLittle Book of Common Sense Investing, he wants to help you dothe same.

Filled with in-depth insights and practical advice, TheLittle Book of Common Sense Investing will show you how toincorporate this proven investment strategy into your portfolio. Itwill also change the very way you think about investing. Successfulinvesting is not easy. (It requires discipline and patience.) Butit is simple. For it’s all about common sense.

With The Little Book of Common Sense Investing as yourguide, you’ll discover how to make investing a winner’sgame:

  • Why business reality—dividend yields and earningsgrowth—is more important than market expectations
  • How to overcome the powerful impact of investment costs, taxes,and inflation
  • How the magic of compounding returns is overwhelmed by thetyranny of compounding costs
  • What expert investors and brilliant academics—from WarrenBuffett and Benjamin Graham to Paul Samuelson and BurtonMalkiel—have to say about index investing
  • And much more

You’ll also find warnings about investment fads andfashions, including the recent stampede into exchange traded fundsand the rise of indexing gimmickry. The real formula for investmentsuccess is to own the entire market, while significantly minimizingthe costs of financial intermediation. That’s what indexinvesting is all about. And that’s what this book is allabout.

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