[Read] The Clash of the Cultures: Investment vs. Speculation PDF
By John C. Bogle
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“A book should serve as the ax for the frozen sea within us.” -Franz Kafka
Synopsis
Recommended Reading by Warren Buffet in his March 2013 Letter to Shareholders
How speculation has come to dominate investment—a hard-hitting look from the creator of the first index fund. Over the course of his sixty-year career in the mutual fund industry, Vanguard Group founder John C. Bogle has witnessed a massive shift in the culture of the financial sector. The prudent, value-adding culture of long-term investment has been crowded out by an aggressive, value-destroying cultur...
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