Book
Stay the course : the story of Vanguard and the index revolution
Publication Information
Hoboken, New Jersey : John Wiley & Sons, Inc., [2019]
Physical Description
xxv, 293 pages, 16 unnumbered pages of plates : illustrations (some color) ; 24 cm
Summary
"Stay the Course is the story the Vanguard Group as told by its founder, legendary investor John C. Bogle. This engrossing book traces the history of Vanguard--the largest mutual fund organization on earth. Offering the world's first index mutual fund in 1976, John Bogle led Vanguard from a $1.4 billion firm with a staff of 28 to a global company of 16,000 employees and with more than $5 trillion in assets under management. An engaging blend of company history, investment perspective, and personal memoir, this book provides a fascinating look into the mind of an extraordinary man and the company he created. John Bogle continues to be an inspiring and trusted figure to millions of individual investors the world over. His creative innovation, personal integrity, and stubborn determination infuse every aspect of the company he founded. This accessible and engaging book will help you: explore the history of some of Vanguard's most important mutual funds, including First Index Investment Trust, Wellington Fund, and Windsor Fund; understand how the Vanguard Group gave rise to the Index Revolution and transformed the lives of millions of individual investors; gain insight on John Bogle's views on values such as perseverance, caring, commitment, integrity, and fairness; investigate a wide range of investing topics through the lens of one of the most prominent figures in the history of modern finance. The Vanguard Group and John Bogle are inextricably linked--it would be impossible to tell one story without the other. Stay the Course: The Story of Vanguard and the Index Revolution weaves these stories together taking you on a journey through the history of one revolutionary company and one remarkable man. Investors, wealth managers, financial advisors, business leaders, and those who enjoy a good story, will find this book as informative and unique as its author"--
Offering the world's first index mutual fund in 1976, Bogle led Vanguard from a $1.4 billion firm with a staff of 28 to a global company of 16,000 employees and with more than $5 trillion in assets under management. Here he provides a fascinating look into his creative innovation, personal integrity, and stubborn determination, and shows how it infused every aspect of the company he founded. -- adapted from Amazon.com summary
Notes
Includes index.
Contents
- Part I. The story of vanguard. 1974: The prophecy ; 1945-1965: The background ; Blair, Princeton, Fortune, and Wellington ; 1965-1974: The "go-go" era, the aftermath, and the formation of Vanguard ; The index fund revolution: from birth to dominance ; 1974-1981: A new beginning ; 1981-1991: Setting the stage for future growth ; 1991-1996: Preparing for a new mutual fund industry ; 1996-2006: The ETF revolutionizes indexing ; 2006-2018: The momentum continues
- strategy follows structure ; Caring: The founder's legacy
- Part 2. The Vanguard funds. Wellington fund: Vanguard's alpha and omega ; The index funds ; The Windsor funds ; The PRIMECAP funds ; The bond funds ; Problems and perspectives
- Part 3. The future of investment management. The fund industry becomes mutual ; The challenge to the S&P 500 index fund ; "The Financial Institutions Act of 2030"
- Part 4. Personal reflections. What really matters: a memoir.