Name: The Little Book of Common Sense Investing
ISBN: 9780470102107

The Little Book of Common Sense Investing

作者: John C. Bogle
出版社: John Wiley & Sons
出版年: 2007-3-20
ISBN: 9780470102107
页数: 216
装帧: Hardcover
定价: GBP 19.99
丛书: Little Books. Big Profits

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8.5

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内容简介 · · · · · ·

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Investing is all about common sense. Owning a diversified portfolio of stocks and holding it for the long term is a winner’s game. Trying to beat the stock market is theoretically a zero-sum game (for every winner, there must be a loser), but after the substantial costs of investing are deducted, it becomes a loser’s game. Common sense tells us—and history confirms—that the simplest and most efficient investment strategy is to buy and hold all of the nation’s publicly held businesses at very low cost. The classic index fund that owns this market portfolio is the only investment that guarantees you with your fair share of stock market returns.

To learn how to make index investing work for you, there’s no better mentor than legendary mutual fund industry veteran John C. Bogle. Over the course of his long career, Bogle—founder of the Vanguard Group and creator of the world’s first index mutual fund—has relied primarily on index investing to help Vanguard’s clients build substantial wealth. Now, with The Little Book of Common Sense Investing, he wants to help you do the same.

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

With The Little Book of Common Sense Investing as your guide, you’ll discover how to make investing a winner’s game:

Why business reality—dividend yields and earnings growth—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 the tyranny of compounding costs

What expert investors and brilliant academics—from Warren Buffett and Benjamin Graham to Paul Samuelson and Burton Malkiel—have to say about index investing

And much more

You’ll also find warnings about investment fads and fashions, including the recent stampede into exchange traded funds and the rise of indexing gimmickry. The real formula for investment success is to own the entire market, while significantly minimizing the costs of financial intermediation. That’s what index investing is all about. And that’s what this book is all about.

作者简介 · · · · · ·

JOHN C. BOGLE is founder of the Vanguard Group, Inc., and President of its Bogle Financial Markets Research Center. He created Vanguard in 1974 and served as chairman and chief executive officer until 1996 and senior chairman until 2000. In 1999, Fortune magazine named Mr. Bogle as one of the four "Investment Giants" of the twentieth century; in 2004, Time named him one of the ...

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原文摘录 · · · · · · ( 全部 )

· 成本很重要（第5～7章）。 · 不能基于过往的业绩挑选股票基金（第10章）。 · 基金收益趋向均值回归（第11章）。 · 即使抱有善意的投资顾问，也不可靠（第12章）。 (查看原文)

稀释象牙白 1赞 2026-05-22 21:40:44

—— 引自章节：第 13 章利润之源尽可能低的总成本
多数基金经理都会面临类似的难题：表现优异，资金流入；表现差劲，资金流出。这源于这个行业对基金收益率的绝对敏感。 (查看原文)

六月草 2021-03-14 20:57:05

—— 引自章节：“大钱包”：超额收益的天敌

> 全部原文摘录

丛书信息 · · · · · ·

　　Little Books. Big Profits(共15册)，这套丛书还有《The Little Book That Still Saves Your Assets》《The Little Book That Makes You Rich》《The Little Book of Main Street Money》《The Little Book of Value Investing》《The Little Book of Big Dividends》等。

喜欢读"The Little Book of Common Sense Investing"的人也喜欢 · · · · · ·

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: Security Analysis 9.5

: Poor Charlie's Almanack 9.3

: Pioneering Portfolio Management

: University of Berkshire Hathaway 8.2

我来说两句

短评 · · · · · · ( 全部 78 条 )

The Little Book of Common Sense Investing的书评 · · · · · · ( 全部 20 条 )

热门只看本版本的评论

夕饮冰 2008-12-01 11:36:57 中信出版社2008版

指数基金的宣言书

是一部伟大的作品，巴菲特和芒格推荐。博格的书除了收集的四本，还包括《The Battle for the Soul of Capitalism》和刚刚出版的《Enough: True Measures of Money, Business, and Life》。此公真是老夫聊发少年狂了，书是越出越快。作为位高权重的成功投资人，不知这个世界... (展开)

8 4回应

邦比快跑 2017-08-27 16:17:14

值得立刻知道的投资常识

The Little Book of Common Sense Investing 5星好评在生活中有一个现象：越是简单的道理越是没人听。比如所有人都在减肥，如果你跟他说减肥的办法就是“管住嘴、迈开腿”，一定会被骂“无聊”、“这有什么好说的”，但是世界上胖人仍然很多，最大的原因还是：1、常识过于简... (展开)

6 0回应

苹果的梵文 2008-06-01 09:48:30 中信出版社2008版

书很好，可是基本上拉长了三倍

这篇书评可能有关键情节透露

说来说去，可以用下面几句话来说明： 1. 长期打败市场很困难，即使有，你也未必找得到。所以能够获得接近大盘的收益就不错了。 2. 看似 1% 到2% 的成本差异，在长期而言，考虑到复利的因素对最终的投资结果有重大影响。指数基金的优越性不仅在于其不指望跑赢大盘，而且在于费... (展开)

5 7回应

penddy 2009-10-30 00:41:34 中信出版社2008版

该来的会来

2009年上半年，绝大部分的主动型股票基金没有跑赢指数型基金，而之间的很长时间内，指数型基金收益都不太理想。这点应该和中国股市的有效性较弱有关。随着全流动的到来、市场的扩大、参与人数和资金的增加，相信指数型基金在整体基金中的表现会进一步的提升。应该... (展开)

4 2回应

不会飞的小辉 2018-09-12 19:14:26 世界图书出版公司2013版

指数基金之父的书——约翰·博格的金玉良言

这篇书评可能有关键情节透露

指数基金之父——约翰·博格的金玉良言，评级四颗星，****。书名翻译的很俗气，英文原文为《The little book of common sense investing》，翻译为《投资的常识》更中肯。作者约翰·博格，美国第二大共同基金先锋集团的创始人，提倡低成本方式的指数化被动投资。股票交易本是... (展开)

2 0回应