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The clash of the cultures

investment vs. speculation
Pages
353
Published
2012
Language
English

Synopsis

Vanguard Group founder John C. Bogle, creator of the first index fund, examines the significant cultural shift within the mutual fund industry over his sixty-year career. He argues that an aggressive culture of short-term speculation has replaced the prudent focus on long-term investment. Bogle, a key participant in the financial sector, provides insights for investors and issues a warning to those driven by speculation.