Enough By John Holifton Bougle Analysis

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A book by John Clifton Bogle, founder and former CEO of the Vanguard Mutual Fund Group and one of the greatest investors in the history, titled “Enough”(2009) is a relatively quick and good read in the financial literature genre. Although the book’s jacket is not very attractive— it has no photographs or illustrations, its title, in my opinion, is quite catchy, and attracts ones’ attention. Moreover, the title does encapsulate the main message—that the average investor feeds at the bottom of what is today the tremendously costly food chain of investing. The table of contents of the book as well is a good short review of what is awaiting the reader. For example, the Chapter 1 is titled “Too much cost, not enough value”, the Chapter 7 — “Too …show more content…
He reveals that in 2004 the ratio of the salaries was 1:280—that is CEO in the year of 2004 earned 280 times more then average worker. Another problem is that shareholders are not looking into long-term investing anymore, but turning to short-term speculations instead. Subtitle “Investors change their sports, so do managers” in the Chapter 6 suggests that unfortunately behavior of investors has changed from “picking and holding” fund, to “trading the fund”. Bogle writes, “They usually chase good-performance and then abandon ship after bad performance”, and that used to be otherwise when he entered the financial field in 1951. The author boldly asserts, “Funds are born to die“ and then explains that “only 13% of all funds died during 1950s, whereas the failure rate of the present decade is running at near 60 percent”.
Furthermore, besides being critical of the current financial sphere, Bogle is also critical of the 21st century or the Age of Information. He compares it to the 18th century (the Age of Reason), and quotes Neil Postman WHO “Soon we shall know everything the 18th century didn’t know and nothing it did, and it will be hard to live with us”. Bogle then paraphrases this essential message saying “Soon we shall know everything that doesn’t count and nothing that
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leaders (on a side note, this was one my favorite chapters of the book). He outlines the distinctions by citing Warren Bennis, a management guru, and writes ”The manager is a copy; the leader is an original”, “the manager focuses on systems and structure, the leader focuses on people” “The manager accepts the status quo; the leader challenges it”, and other similar dogmas, essentially, recommending that there should be more qualitative leaders and more good managers. Bogle also makes a remark on virtue and retells the two famous questions by Benjamin Franklin, “ What good shall I do today” and ”What good have I done today?” recommending to reconsider our own

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