Who would want to read this book?  Maybe you would if you are interested in Jack Bogle, Vanguard, investing, money, or any combination of those things.  Those listed are all related and this book is  great explanation of how.

The full title is The Bogle Effect: How John Bogle and Vanguard Turned Wall Street Inside Out and Saved Investors Trillions by Eric Balchunas .  The book is not being published until April 26. But it is available for preorder or it might be something to add to your “to do” list  I thank NetGalley and BenBella Book for the opportunity to read it in advance.

I must disclose that I am a big admirer of Jack Bogle and an investor in Vanguard funds.  When I saw this book was available on NetGalley, I jumped at the chance to read it before publication.   I enjoyed it immensely and learned quite a bit.

 

All the factors I mentioned (Jack Bogle, Vanguard, investing, money) are closely related.  To oversimplify, Jack Bogle founds Vanguard  as a mutual company, that is one owned by the investors in its funds.  Instead of the founders or stock holders making large profits from investment fees that money is returned to the investors as lower fees.  He then uses the idea of an index fund to provide superior results at low costs.

 

The constant lowering of costs benefits Vanguard Investors directly but also  benefits others indirectly since other companies must lower fees to compete with Vanguard.  Yes, Jack Bogle saved investors quite a bit of money and caused major changes in the financial services industry.

 

The is an important story and it is well told by Eric Balchunas.