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Author Bogle, John C., author

Title Stay the course : the story of Vanguard and the index revolution / John C. Bogle
Published Hoboken, New Jersey : John Wiley & Sons, Inc., [2019]
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Description 1 online resource (xxv, 293 pages, 16 unnumbered pages of plates)
Contents Intro; Stay the Course; Dedication; Contents; About Stay the Course; What This Book Contains; Striving for Accuracy; Foreword; Part I The Story of Vanguard; Chapter 1 1974: The Prophecy; Structure and Strategy; 2018: The Prophecy Fulfilled; Vanguard: Lowering Costs for Investors; Index Strategy Follows Mutual Structure; "The Emperor's Clothes"; Chapter 2 1945-1965: The Background -- Blair, Princeton, Fortune, and Wellington; 1949: "Big Money in Boston"; "The 'Mutual' Fund"; 1951: "The Economic Role of the Investment Company"; July 1951: Enter Wellington and Walter Morgan
Modus Operandi 1951: One Fund per ManagerThe Power of Conservative Investing; Staying the Course; Chapter 3 1965-1974: The "Go-Go" Era, the Aftermath, and the Formation of Vanguard; The "Go-Go" Era; Bagels Out, Doughnuts In; "I Was Too Conservative"; Three Strikes . . . but Not Quite Out; The Merger; The "Peace Dollar"; The Bubble Bursts; 1970-1974: Bear Market Follows Bull Market; Fiduciary Duty . . . but to Two Masters?; The Wrong Scapegoat; "Ex-Fund Chief to Come Back"; The Board Meeting That Changed Everything; Achieving Independence; Chuck Root: The Indispensable Man
More Index FailuresThe IPO; Fortune Strikes . . . Again; Dr. Samuelson Redux; The Road Shows Yield a Flop; "Bogle's Folly"; 280 Stocks, Not 500; "The Stone That the Builders Rejected Has Become the Chief Cornerstone"; Vanguard 500 Index Fund: Real-World Success; Recap: 15,000 Grows to 1,127,704; Caveats; Vindication: Money Talks; Buffett and Swensen; Paul Samuelson Completes a New "Murderer's Row"; Staying the Course; Chapter 5 1974-1981: A New Beginning; The First Step; The Anomaly of Fund Share Distribution; February 1977: Control of Marketing and Distribution
Option #2: "Weak Tea""Fired with Enthusiasm!"; The Challenge; Vanguard: The Birth of a New Flagship; A Narrow Escape; The First Skirmish; Game Over?; "A Near-Run Thing"; The Shareholders Approve; A Full-Fledged Mutual Fund Complex Emerges; "A Plague on Both Your Houses?"; Two Memorable -- and Opposite -- Reactions; Staying the Course; Chapter 4 The Index Fund Revolution: From Birth to Dominance; 1951: The Seed Is Planted; Motive and Opportunity; Persuading Vanguard's Directors That Costs Matter; "The Fund Is Not Managed"; First Index Investment Trust; Who Was First? Who Survived?
Struggling with the Index FundThe 500-Index Superiority Fades; The Go-Go Era, the Nifty Fifty Era, and Their Aftermath; Wellington Fund Assets Drop by 75%; 1971: The Money Market Fund; A Late Start; 1977: The Defined-Maturity Municipal Bond Fund; A Simple Innovation; A Curious Anomaly; Vanguard Fixed Income Group Takes Shape; New Fund Profile; 1978-1993: 200-Plus Reductions in Advisory Fees; Only the Beginning; A Wave of Fee Reductions; The Wellington Fund Example; Across-the-Board Fee Reductions; Negotiating Fees on New Vanguard Funds; Index Funds and Bond Funds: Still Lower Costs
Summary A journey through the Index Revolution from the man who started it all Stay the Course is the story the Vanguard Group as told by its founder, legendary investor John C. Bogle. This engrossing book traces the history of Vanguard-the largest mutual fund organization on earth. Offering the world's first index mutual fund in 1976, John Bogle led Vanguard from a $1.4 billion firm with a staff of 28 to a global company of 16,000 employees and with more than $5 trillion in assets under management. An engaging blend of company history, investment perspective, and personal memoir, this book provides a fascinating look into the mind of an extraordinary man and the company he created. John Bogle continues to be an inspiring and trusted figure to millions of individual investors the world over. His creative innovation, personal integrity, and stubborn determination infuse every aspect of the company he founded. This accessible and engaging book will help you: -Explore the history of some of Vanguard's most important mutual funds, including First Index Investment Trust, Wellington Fund, and Windsor Fund -Understand how the Vanguard Group gave rise to the Index Revolution and transformed the lives of millions of individual investors -Gain insight on John Bogle's views on values such as perseverance, caring, commitment, integrity, and fairness -Investigate a wide range of investing topics through the lens of one of the most prominent figures in the history of modern finance The Vanguard Group and John Bogle are inextricably linked-it would be impossible to tell one story without the other. Stay the Course: The Story of Vanguard and the Index Revolution weaves these stories together taking you on a journey through the history of one revolutionary company and one remarkable man. Investors, wealth managers, financial advisors, business leaders, and those who enjoy a good story, will find this book as informative and unique as its author
Bibliography Includes bibliographical references and index
Notes Description based on online resource; title from digital title page (viewed on January 16, 2019)
Subject Vanguard Group of Investment Companies.
Index mutual funds -- History.
Genre/Form History.
Form Electronic book
LC no. 2018059651
ISBN 1119404312 (electronic publication)
1119404320 (Adobe electronic book)
9781119404316 (electronic publication)
9781119404323 (Adobe electronic book)