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Book Summary InformationAuthor: Mel Lindauer, Michael LeBoeuf, Taylor Larimore Foreword: John C. Bogle Edition: Hardcover Audio: English (Unknown); English (Original Language); English (Published) Published: 2006-01-03 ISBN: 0471730335 Number of pages: 336 Publisher: Wiley
Book Reviews of The Bogleheads' Guide to InvestingBook Review: Excellent investment advice for a lifetime Summary: 5 Stars
I was very impressed with this book and give it an A+. Not only is the investing advice excellent, the writing style is very easy and fun to read.
I have lurked in the back ground and seen the excellent advice the authors give on the Bogleheads web site ([...]) each day. Their common sense sound advice is carried over from the web site to this book.
I learned several new things from this book. After concentrating on saving and investing in large cap stock index funds and total bond market index funds for many years, I recently diversified into other small cap, mid cap, and large cap U.S. stock index funds versus just an S&P 500 index fund. I added an allocation to REITs as well.
During this re-allocation, I ran into the problem of trying to keep bond index funds and REITs in tax-deferred versus taxable accounts. I was able to accomplish this, but it won't be long until I need to add more bond and REIT investments to keep my asset allocation correct. I am out of room to add more bond and REIT investments in my tax-deferred accounts.
This book suggested that if you are in this situation, you should consider municipal bonds in taxable accounts due to their potential for escaping both state and federal taxation. I had always "blown off" municipal bonds as not fitting into my investment plans, but now I have definitely put them on my radar screen as a future possibility.
The book also did a good job of explaining the details of rebalancing.
I especially enjoyed a new term I had not seen before, "Financial Pornography". This is all the daily noise one hears from CNBC and the financial magazines about picking stocks or mutual funds to "beat the market".
All-in-all, a great book for serious investors who manage their own portfolios.
I would suggest companion books to supplement this book including:
The Richest Man in Babylon
Bogle on Mutual Funds: New Perspectives for the Intelligent Investor
The Millionaire Next Door
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition
The Coffeehouse Investor: How to Build Wealth, Ignore Wall Street, and Get On With Your Life
Wealth: Grow It, Protect It, Spend It, and Share It
All About Asset Allocation.
Summary of The Bogleheads' Guide to InvestingThe Bogleheads? Guide to Investing is a slightly irreverent, straightforward guide to investing for everyone. The book offers sound, practical advice, no matter what your age or net worth. Bottomline, become a Boglehead and prosper! Originally just the chat-line ruminations of Boglehead founder Taylor Larimore, and Morningstar forum leading cohorts Mel Lindauer and Michael LeBoeuf, their trusted advice has been brewed and distilled into an easy-to-use, need-to-know, no frills guide to building up your own financial well-being ? so you can worry less and profit more from the investments you make. Invest like a Boglehead, and let their grassroots investment wisdom guide you down the path of long-term wealth creation and happiness, without all the worries and fuss of stock pickers and day traders. If you face a financial crisis or problem, or simply want to know what is prudent to do with the money you save, the Bogleheads will have the answers you need to help you gain your financial footing and keep it.
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