

The Clash of the Cultures
Investment vs. Speculation
Author: John C. Bogle, Arthur Levitt
Narrator: Al Kessel
Unabridged: 13 hr 11 min
Format: Digital Audiobook Download
Publisher: Ascent Audio
Published: 09/10/2019
Categories: Nonfiction, Business & Economics, Investments
Synopsis
Provocative and refreshingly candid, this book discusses Mr. Bogle's views on the changing culture in the mutual fund industry, how speculation has invaded our national retirement system, the failure of our institutional money managers to effectively participate in corporate governance, and the need for a federal standard of fiduciary duty.
Mr. Bogle recounts the history of the index mutual fund, how he created it, and how exchange-traded index funds have altered its original concept of long-term investing. He also presents a first-hand history of Wellington Fund, a real-world case study on the success of investment and the failure of speculation. The book concludes with ten simple rules that will help investors meet their financial goals.