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Summary: Great fact-based guide for investors.
Review: Presents time-proven investment fundamentals in a clear, well-organized book. Plenty of charts and tables of numerical data for those who thrive on historical investment facts. Lacks chapter summaries. An excellent update of Bogle's earlier book "Bogle on Mutual Funds" (1994).
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Summary: Great Book on Investing with Mutual Funds
Review: This is one of the finest Books I have ever read on Mutual Fund investing. After reading this you will know that he knows what he is talking about. Without a doubt the best in the field. If you folow the "rules" you will do very well in the market.
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Summary: Bogle's book is a beacon for the intelligent investor
Review: Once again Bogle has created a classic. His no-nonsense style of writing gives a very detailed discussion of the prudent way to invest. In the end, there is no question how he created the largest no-load fund company - through lots of common sense and human decency.This book is printed on acid-free paper; seems the publisher knew the book is going to be a keeper!
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Summary: A real eye-opener. Excellent.
Review: A book no mutual fund investor should miss. Bogle, long a champion of shareholders, tells it like it is. I learned that I can chase after the next hot fund or simply put my money in a low-cost index fund and watch it grow more reliably. Maybe that's why it's called "Common Sense" on mutual funds. Thank you, Mr. Bogle, for explaining why low-cost indexing works, and for opening my eyes to the perils of mutual fund investing. Forewarned is forearmed.
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Summary: The Human Approach
Review: I especially loved the chapter "On Human Beings." It shows that in a world where you always feel like a number John Bogle has instilled in Vanguard the human being approach. Not only is he knowledgeable about mutal funds he knows what is needed behind the scenes to keep them successful. Great job Mr. Bogle
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Summary: excellent!! a must read for all BOGLE fans.
Review: this book thoughtfully presents the case for sensible cost controls when is comes to your mutual funds......it also highlights the need for fund directors that are responsive to the interests of shareOWNERS........and voices the view of WARREN BUFFETT and others for the long term approach. THANK YOU MR. BOGLE!!! a fine companion to the 1994 bestseller BOGLE ON MUTUAL FUNDS.
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Summary: A definate must
Review: Bogle provides some great insights into the changes in the mutual fund industry since his previous book, "Bogle on Mutual Funds" was printed. Valuble insights on how the internet and the recent bull market have impacted the mutual fund industry. Also gives some of the principles that helped shape the Vanguard Group into a leader in the mutual fund industry.
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Summary: One of the best on mutual funds
Review: It took me years to finally figure out that "passive" investing in mutual funds is the absolute best way to build a retirement fund. Mr. Bogle has an intimate relationship with index funds because he, via Vanguard, blazed the path when all others doubted indexing. As a CPA and MBA and CFP to boot I have spent a fair amount of time and effort trying to "beat the market" only to learn that matching the market is the best strategy for the long haul. Had I simply invested according to his precepts I would have parlayed a lot more money with a lot less effort. It IS a hard book to read for those not used to technical terms. But "stay the course" as John would say, and you (and your money) will be amply rewarded.
Rating: 
Summary: Repetitive, Common Knowledge
Review: He just sells one point in the book:
"Buy low cost Index funds."
And he supports it with examples and historical analysis. But completely disregards the fact that actively managed funds can beat the index in bull market and good managers have a track record on not nose diving in bear market. So low cost and diversification should be a high priority, good management and strategy are also equally important. You don't have to always follow the index, people do outperform it in long term with low cost. The catch is P/E ratio.
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Summary: Bogel is half right and half misleading
Review: I was disappointed that John Bogel having connected historical earnings to market performance over the long term missed the historical relationship of P/E to inflation. He called P/E expansion "speculation" and P/E contraction the reversal of the same. Not true.
Market P/E's are connected directly by market forces to real returns in investment alternatives. Equities have averaged earnings growth close to 6.2%. (This is another miscalculation-better to look at the earnings channel and calculate the slope of this channel because earnings do have a wobble year-to-year. This is in contrast to Bogel's surprisingly simplistic approach of selecting a simple beginning point to end point analysis.) The P/E's of the 1955-1965 period were very close to 20 because rates were low and inflation was near 1-2% range. This changed as inflation began to creep into the market in 1965, read this as excessive government spending w/Great Society and Vietnam, and was sustained thru 1982 when Volcker took the steps to reverse it. The IBES Model that maps the 10yr Treasury yield vs the SP500 earnings yield explains the last 25yrs quite well. The SP500's P/E of less than 7 in 1982 is related to a market earnings yield of 15%-16% while the 10Yr Treas was at 15%. These yields fell closely together for the next 20yrs thus showing that the market P/E adjusted to a competitive environment. Only from 1995-2000 did the speculative excess eventually have the market 60% OVERVALUED.
Bogel is biased to selling his Vanguard Funds and his analysis stops well short of acceptable analysis.
Further, although the average manager does not do much for investors, there certainly are superior managers whose records are sustained over time. These managers represent the top 10% and they are not that hard to find once you start to look. Just recognize that markets have cycles that factor into near term manager investment returns. Don't buy at the top! Even the best manager will give you short-term disappointment if you buy at the top.
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