The clash of the cultures

In this book, John C. Bogle discusses the massive shift in the culture of the financial sector from a prudent, value-adding culture of long-term investment to an aggressive, value-destroying culture of short-term speculation.

Bogle urges a return to the common sense principles of long-term investing, addressing topics such as the invasion of speculation into the national retirement system, the failure of institutional money managers in corporate governance, and the need for a federal standard of fiduciary duty.

The book includes a history of the index mutual fund, a case study on Wellington Fund, and ten simple rules to help investors meet their financial goals.