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Stay the Course: The Story of Vanguard and the Index Revolution

Stay the Course: The Story of Vanguard and the Index Revolution

John C. Bogle

ISBN: 978-1-119-40431-6

Nov 2018

336 pages


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A journey through the Index Revolution from the man who started it all

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.

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About Stay the Course

Foreword to Bogle History by Burton G. Malkiel

Part I. Vanguard: The History of Vanguard

1.1974: The Prophesy

2.1949–1965: The Background—Princeton, Fortune, and Wellington

3.1965–1974: The “Go-Go” Era, Its Aftermath, and the Formation of Vanguard

4.The Index Mutual Fund: From Birth to Dominance

5 1974–1981: A New Beginning

6 1981–1991: Setting the Stage for Future Growth

7 1991–1996: Preparing for a New Mutual Fund Industry

8 1991–2006: The ETF Revolutionizes Indexing. To What Avail?

9 Structure and Strategy: The Momentum Continues

10 Caring—A Legacy of the Founder

Part II. The Vanguard Funds

11 Wellington Fund

12 The Index Funds

13 The Windsor Funds

14 The PRIMECAP Funds

15 The Bond Funds

16 Problems and Perspectives

Part III. Looking Ahead

17The Future of Investment Management

Part IV. A Concluding Memoir

18 What Really Matters—A Memoir