The author gets preachy at times, pats himself on the back a little too much, but his message is important. Or John Bogle to say that Vanguard has reached “enough customers”? This little book is a clarion call to common sense in the financial market, and as such deserves some kind of award for calling out the kinds of obvious truths in capitalism that it feels like no one talks about- that fairness and ethics and respect all have a place, that profit should not be the only motive, and certainly not profit for financial managers at the expense of shareholders. I might also become a dual citizen down the road. Book Review: “Enough.” by John C. Bogle Mrs. Money Mustache forwarded to me an interesting video clip on YouTube with this wise old guy dishing out some very humble and sensible lessons for living a meaningful life. Instead, I suppose not surprisingly, Mr. Bogle's intended audience seems to have been fellow financial marketeers. Enough: True Measures of Money, Business, and Life - Ebook written by John C. Bogle. Reviews. Written from the perspective of three successful investors who have no motivation other than to share their wealth of investment experience with their fellow readers, they provide the reader with an easy to read primer on all aspects of building a successful financial portfolio. Inspired in large measure by the hundreds of lectures Bogle has delivered to professional groups and college students in recent years, Enough. They will be fine. When you are really using your noggin you can say its pretty logical that making money off of debt is a bad investment choice. I found Bogle’s version of “enough” to be aimed as much at the mutual fund industry as to individuals. I can see that at a certain point of wealth, it becomes increasingly foolish to earn and spend any more on yourself. Page by page, Bogle thoughtfully considers what "enough" actually means as it relates to money, business, and life. Start your review of Bogle Merlot Red Wine - 750ml Bottle! will … It’s short, it’s concise, and it is packed full of timeless wisdom packaged for modern life. He is now, just as he was when he started the first Index Fund in 1975, Wall Street's man in the white hat. The best part about this book is the story that inspired the title. He explains that enough should be an investment in customers in business and an equal balance of. The bottom of this post is a shocking example, even, or especially, for you. Review. For those with shorter horizons, you can always move up to looking at the actual dividend yield and P/E10 of the index to determine when you are wise to index into the market. I love that he doesn’t beat around the bush. April 14, 2016, 9:52 am. How to invest, run a company and run your life. Enough by Uncle Jack, John C. Bogle is the latest Bogle book that I have picked up. He explains that “enough” money is what you need to retire on - whether it be the 25 times your living costs per annum, or 4% of withdrawal rate. So I ask, who can NOT AFFORD to read this book? His estimated $80 million could be much higher, but he already has more than Enough. After this, you’re much better off turning your efforts to something more creative and generous. Sounds good, just to satisfy my inquisitive mind, the link to the Youtube clip is…? Thanks John C. Bogle for leading a good life and telling it like it is. Written right after the 2008 financial crisis, Bogle details his dismay at the state of investment banks and how the character of many in the industry is questionable. Vanguard has more assets under management ($3.5 Trillion is not a typo) than JP Morgan Chase or Bank of America or, for that matter, the entire Hedge Fund industry combined and not by a small amount. I admit this is a form of trying to beat the market, but even John Bogle occasionally admits that it works, statistically speaking. He comes off a bit full of himself. Visiting the winery and drinking the wines themselves are an absolute treat. This little book is a clarion call to common sense in the financial market, and as such deserves some kind of award for calling out the kinds of obvious truths in capitalism that it feels like no one talks about- that fairness and ethics and respect all have a place, that profit should not be the only motive, and certainly not profit for financial managers at the expense of shareholders. 61 reviews. In "Enough." If you pay close attention, you will find you have Enough much earlier than you thought was possible. Tell me, please, if you can, how to value friendship, cooperation, dedication, and spirit. I highly recommend the book "Enough" by Vanguard's founder,Jack Bogle, who eloquently outlines many of the frustrationsinvestors have. I love his wisdom, his simplicity. The founder and former CEO of The Vanguard Group shares his views on executive compensation, Wall Street and the financial system as a whole. Great read. A few amazing quotes but not much beyond that. As we enjoy great advantages from the inventions of others, we should be glad of an opportunity to serve others by any invention of ours, and this we should do freely and generously.”, To this I say, “Fuck Yeah!”. I love your blog, have read a bunch of posts, and have been practicing the things you write about for years, having been raised this way, (without realizing there was a community movement about these values). Really, a splendid little piece of wisdom on life, leadership, and the markets. Goodreads helps you keep track of books you want to read. Short, mildly dense, preachy. January 11, 2012, 8:55 am. Reviewed by Martin S. Fridson CFA. 9: Too Many Twenty-First-Century Values, Not Enough Eighteenth Century Values. Every once in a while I’ll be all like – boy I need to take a break from reading blogs and pick up some books. I noticed that the video in the link is currently missing. Enough starts with the very premise I came upon several years ago while studying business; there is a point where individuals (and companies) have enough, enough market share, enough savings, enough resources, enough house, enough comfort, etc. I’m not interested in making money just to make money, I need to create real value along the way. As far as insurance backed securities, Warren Buffet himself has quite a bit of money in insurance. John Bogle, the renowned founder of the Vanguard 500 Fund and a "good guy" on Wall Street has written a fabulous book for our times. John Bogle's "Enough" is a fun read where the late Vanguard Mutual Funds Founder weaves in bits of autobiography with the wisdom he has learned through the years. seeks, paraphrasing Kurt Vonnegut, "to poison our minds with a little humanity." > money that comes in to my life as freebies, discounts, coupons…, Freebies, can’t argue with that. I am a Bogle fan, so I may be biased. I read it cover to cover in about 48 hours and I enjoyed his down to earth, honest explanation of what “enough” should mean in life. Then Bogle presents an "Author's Note" written in April 2010 where he deals with the causes of the 2007 collapse what to do about it and sets the stage defining the ethical crisis. I don’t want to pay either government more than I have to. This is not the best financial advise book, but it's a great perspective from a good leader, I like Jack Bogle ... and so does Jack Bogle. Sadly, these virtues have long been eroding in America and being replaced with vices such as greed, consumerism, sexual license (with deeply negative consequences for marriages, families, and especially children, including negative financial consequences), and the lust for power. I’m currently in the process of reading The Bogleheads Guide To Investing. A few amazing quotes but not much beyond that, Good “enough”. Reading can be broken into 3 levels: skimming, reading, & absorbing. Bogle describes what has really gone wrong with Wall Street and the financial profession at the same time that he passes on some wonderful and time tested investment tips and principles. “As I have earlier noted, the most important things in life and in business can’t be measured. LorenLaurenLorraine Then the Money section titles Too Much Cost, Not Enough Value; Too Much. That would have made a good book. Just try finding a (good) financial book with 100 pages or less…. In summary, if you are new to investing, or would like to further your knowledge of all the critically important aspects of investing, this book may very well be the best investment you’ll ever make! I recently listened to the audiobook version of Bogle’s “Common Sense on Mutual Funds”, and read this book because the title led me to believe this would be more of an overview of the state of personal finances. For America? I assumed this book was about Minimalism of all things ( seeing it popped up as I was shopping on the topic) - but far from it as I discovered in the end - nevertheless I still finished the book even although the topics discussed were of no interest to me really ( mutual funds and financial market to name a few ). The Boglehead’s Guide to Investing offers all the essential ingredients toward building a solid financial future for anyone who takes the time to read and apply its’ principles. Instead, Bogle preaches about how any financial product or strategy that is not a low cost index fund is a poor investment. Jack Bogle never fails to communicate a broader vision of life while talking finance. The biggest lesson I’ve learned so far through all of this research is you can get a bigger return just from saving/reducing spending than investing. It always amazes me where people recognize the intangibles of life, i.e., ideals that work for people, are less practiced than self-preservation motives. September 5, 2011, 9:56 am. Inspired in large measure by the hundreds of lectures Bogle has delivered to professional groups and college students in recent years, Enough. He's also one of the few people to whom it's absurd to say "you cannot change the world" because he has. The idea of an entire industry/profession as contributing no additive value and being basically parasitic is timely considering current circumstances. True Measures of Money, Business, and Life (a review) John C. Bogle John Wiley & Sons, Inc. I was mostly wrong. I read this because I had access to the audiobook and thought it might give me some overview/scaffolding to better understand one of his books on mutual funds that I'm currently reading. May 13, 2019 By Nate Shivar. --This text refers to the hardcover edition. Had the author been a more obviously religious sort of person or wishing to make an. In the Business section Too Much Counting, Not Enough Trust; Too Much Business Conduct, Not Enough Professional Conduct; Too Much Salesmanship, Not Enough Stewardship; Too Much Management, Not Enough Leadership. I have seen it before although i was really hoping I could share it to some friends who aren’t familiar with John Bogle. Difficult narration. The one question that no one can seem to answer for me right now though is where do treasury bonds stack up in all of this mess, especially in light of the recent political debate about our government defaulting…Yet books like Your Money Or Your Life and BGTI recommend investing in stuff like TIPS to counteract money lost due to inflation and trading costs. The Federal Reserve’s manipulation of the interest rates to artificially low rates also discourage savings. Or you can get really fancy, as I see you do with your own stock picking on your excellent Suffolk blog. To those who would question the spirit behind Franklin’s words as being too liberal-minded and not capitalist enough, I would say, “Uh-huh, and which of the world’s economic powerhouse countries did YOU help to found recently?”. I recently listened to the audiobook version of Bogles Common Sense on Mutual Funds, and read this book because the title led me to believe this would be more of an overview of the state of personal finances. To see what your friends thought of this book, Enough. But no matter how high the discount or coupon it’s hard to beat not buying it in the first place :). :) I added a link to the video clip in the article. This is no exception. So we need to reward and encourage the good ones, even while carefully regulating a few walls around the worst offenders – otherwise get yourself ready for a neverending series of 2008-style Great Financial Crashes where great profits are made in the booms, and the governments (i.e. seeks, paraphrasing Kurt Vonnegut, "to poison our minds with a little humanity." Currently I have an RRSP and TFSA at RBC in Canada, and I also move funds down to the U.S. and pay into Betterment. While I am totally on board with the concept of the index fund for a majority of investors with little financial education wanting to invest at a lower level of risk, to suggest that it is the only way is more than just wrong but incredibly self-serving. By: John C. Bogle. He's also one of the few people to whom it's absurd to say "you cannot change the world" because he has. , he puts this dilemma in perspective. Featured . Mrs. Money Mustache forwarded to me an interesting video clip on YouTube with this wise old guy dishing out some very humble and sensible lessons for living a meaningful life. Since you are really focusing on buying solid companies at low prices and going after earnings (Buffett Style), I think you have vastly better odds for success than the momentum chasers and technical charters. Heller says, "Yes, but I have something he will never have . As I read the book, I learned the whole history of John C. Bogle, and I came to appreciate why he has a worldwide following of dedicated fans. enough." 1: Too Much Cost, Not Enough Value. John Bogle's "Enough" is a fun read where the late Vanguard Mutual Funds Founder weaves in bits of autobiography with the wisdom he has learned through the years. Not knowing what enough is subverts our professional values. So I found myself yawning through about 200 of the 276 pages, even as I sleepily agreed with everything he said. Contrary to popular internet wise guy belief it won’t bring you into “annoying complainypants sjw” territory, but instead to, “the unexamined life is not worth living, what is to be done with my one precious life” territory. Some of the top 100 indexes aren’t that well sector diversified as they used to be, with globalisation reducing diversity. More people need this level of insight on the world around them. There is also a substantial section about avoiding insurance backed securities too. It is character, not numbers, that make the world go ‘round. http://www.goodreads.com/book/show/15814047-enough-is-enough. 2: Too Much Speculation, Not Enough Investment. Value Indexer That is, when a society’s banks are full of saved wealth, interest rates naturally fall due to the larger supply of money available for lending, thus making it less expensive to borrow; conversely, when a society has little savings, interest rates naturally would rise as money to lend is in short supply. In fact, now is a bad time to put money into treasury bonds because so many people have been buying them during this volatile stock market cycle which has ended up driving their value down. Brooke Trout As much as I love Vanguard and index fund investing, if interest rates were allowed to fluctuate freely rather than being fixed by the Federal Reserve, we’d be able to save money in banks and actually earn a decent return at very little risk. I read this because I had access to the audiobook and thought it might give me some overview/scaffolding to better understand one of his books on mutual funds that I'm currently reading. 5: Too Much Business Conduct, Not Enough Professional Conduct. Now, with Enough. Despite the fact that this guy knows the financial system better than almost anyone, he openly admits that “rampant greed threatens to overwhelm our financial system – greed which runs deeper than money. Then Wrapping Up deals with What's Enough For Me? Here’s the same video: https://www.youtube.com/watch?v=gl6Im-LTuZg. 6: Too Much Salesmanship, Not Enough Stewardship. Bogle writes in a folksy way, recalling bits of wisdom he has learned from Benjamin Franklin, Descartes, preachers, and mentors throughout the years. Refresh and try again. John Bogle and Joseph Heller are two more people who have clearly mastered the concept of Enough. Hi! Franklin believed that “Knowledge is not the personal property of its discoverer, but the common property of all. Bogle is a man obsessed with clarity and transparency within the investment world, and it shows - I cannot recommend it highly enough to anyone serious about delivering good-quality investment outcomes for their clients. The main complaint I have is that he really focused on what the financial advisors do "wrong" and how advisors don't define "enough" but he really didn't place any of the blame on investors, at least not in this book. But among the rich today, we do have a lot of this unfortunate breed. Inspired in large measure by the hundreds of lectures Bogle has delivered to professional groups and college students in recent years, Enough. How much do cheerfulness, the lilt of a human voice, and a touch of pride add to our lives? So if you just want the executive summary, I would say it is this: “Being a rich person doesn’t mean you have to be a big evil douche. Page by page, Bogle thoughtfully considers what "enough" actually means as it relates to money, business, and life. That other bookCommon Sense on Mutual FundsI began because it was recommended in the helpful (very short) book If You Can: How Millennials Can Get Rich Slowly. More than a remarkable book. I don’t know if I’m doing it all wrong. Maybe a bit blustery in a manly way, but if you can take it on it’s own terms, it works. 8: Too Much Focus on Things, Not Enough Focus On Commitment. For You? I was led to believe that the book, titled "Enough" would be about finding contentment in life, rather than pursuing greed as is so prevalent in our society, particularly financial markets. Complaints and insults generally won’t make the cut here, but by all means write them on your own blog! Socially Responsible Investing: Is It Also More Profitable? Psychology comes into play — people won’t pay much for a thin book, so ironically we as consumers unknowingly force the industry to publish books with a minimum word count, even if fewer words can get the point across. How to invest, run a company and run your life. Honestly, I couldn't count the number of times during listening to this audiobook when I thought to myself, ENOUGH, PLEASE GOD ENOUGH! Without knowing the financial industry that well one could guess that most people seeking to get more don’t truly know what they want it for, but for a few it may be more of a sport than an obsession. Ideally, the more thought that’s put into the process – the more you should get out of it in the end. "Enough shines a light on Bogle's sense of despair over the state of the financial industry, and perhaps industry in general. I am starting to understand how to invest in Canada, and I”m starting to understand how to invest in the U.S. My dilemma, I’m a U.S. citizen residing permanently in Canada. I read this book on recommendation from Matt Heusser's blog, Creative Chaos (you can read his review. Enough is a call to simplicity and modesty on the one hand and an invitation to live a life of service to a grand vision on the other. Mortgage-backed securities are hardly high risk. It was the Mrs. that sent that link to MMM. He details how financial managers put their own interests before those of their clients, slowly sucking out investment returns for themselves and leaving the clients with less savings. What value do we put on passion, devotion, and trust? Had the author been a more obviously religious sort of person or wishing to make an appeal, he could have gone to the wisdom of Agur [1] to point out that there are some things that never have enough. 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S own terms, it ’ s all very overwhelming because I could be much higher, but you! The day '' sent that link to the choir translates to “ to reach ”: is. Rapp September 5, 2011, 12:42 pm first place: ) Enough is subverts our professional.. Finally in life, leadership, and the creation of wealth in America at... Is important Enough customers ” pages, even as I have requested this book at your local library at!
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