Book Review: Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition
By John C. Bogle
The big idea: Actively-managed managed funds as a group cannot outperform passive index funds primarily because of higher expenses (fees and taxes), which make them an inferior option for investors.
What’s good: The father of index funds updates his classic, reinforcing all his previous analyses and recommendations. Like a thorough researcher and scholar, he methodically destroys whatever argument that can be posed by proponents of actively-managed mutual funds.
What’s bad: It’s a big, thick, overly argued tome that by the way you’re halfway through, you just want to say, “Okay, enough already! I’m convinced!”
Web site: www.johncbogle.com
Recommendation: Buy it