Enough: True Measures of Money, Business, and Life
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Product Description
For a critical element of American society, including many of its wealthiest and most powerful, there seems to be no limit today on what “enough” entails.
The extremes are most starkly visible in the continuing crisis in banking and investment, and even in the two enormous government-sponsored (but publicly owned) mortgage lenders, to say nothing of the billion-dollar-plus annual paychecks that top hedge-fund managers draw down and the excessive compensation paid to CEOs, regardless of performance.
Throughout his legendary career, John Bogle—founder of the Vanguard mutual fund group, and creator of the first pointer mutual fund—has helped investors erect wealth the right way and led a tireless battle to restore common sense to the investment world. Along the way, he’s seen how destructive an obsession with financial success can be. Now, with Enough, he puts this dilemma in perspective.
Bogle offers his unparalleled insights on money, on the values we should emulate in our business and professional callings, and on what we should consider as the right treasures in our lives. By explaining what “enough” truly is, he demonstrates how close everyone can be to having it.Amazon.com Review
Amazon.com Exclusive: William J. Bernstein on Enough
William Bernstein, Ph.D., M.D. is the critically acclaimed leader, financial theorist and historian whose books include A Splendid Exchange: How Trade Shaped the World, The Birth of Plenty, The Four Pillars of Investing, and The Intelligent Asset Allocator. Bernstein is frequently quoted in national publications, including The Wall Street Journal, Barron’s, Money, and Forbes.
If you are wondering about the cause of the current market crisis, then you haven’t been reading enough of Jack Bogle.
Because he certainly knows not only where, but why and how. For decades Jack has been communicating his disquiet in previous books, speeches, and public testimony. Years from now, when historians and investors dissect the economic and market meltdowns of 2008, they’ll consult this slim, well-written volume.
In order to know the intellectual and moral platform from which he surveys the economic wreckage, you need to know a small of his tale. Bogle founded one of the world’s fantastic investment companies, the Vanguard Group. Most men in his situation would have levered such success into a multi-billion-dollar net worth; as a replacement for, he “mutualized” Vanguard, converting it, in effect, into a nonprofit organization whose only goal was to benefit its fund holders. From an ethical perspective, Vanguard is the only “investment company” worthy of that name. (As opposed to most financial firms, which are in fact “marketing companies” whose main purpose is to milk unwitting investors of fees and commissions.)
The answer to the conundrum of 2008 lies in the book’s title, “Enough,” which is the punch line from a delightful Kurt Vonnegut/Joseph Heller tale. Simply place, our nation has been suffering from decades of unchecked financial excess, for which we are now paying the piper: excess in investment company fees; excess in financial speculation masquerading as diversification and innovation; excess in the salaries of top executives; excess in salesmanship; and most importantly, excess in the role played by the financial industry in our national economy and national life.
Each of these extremes gets its own chapter, and each one is a tightly written gem. Chapters 2 and 3, which dissect out the frenzy of derivatives, structured vehicles, and layers of intermediation behind the recent collapse, alone justify the book’s buy fee.
As Bogle states in the book’s beginning, in the spring of 2007 the financial services sector–which, after all, produces nothing of substantive value–accounted for one-third of the earnings of the S&P 500. By the time you read this, this outsized influence will have shrunken drastically. Let Enough be your welcome to the courageous new world; it will satisfy your curiosity, give you a sense of moral balance in this most worldly of ages, and even plump up your investment portfolio.
–William J. Bernstein
Product Description
Written by John C. Bogle–the legendary founder of the Vanguard Mutual Fund–Enough. offers his unparalleled insights on money, the values we should emulate in our business and professional callings, and what we should consider as the right treasures in our lives. Inspired in large measure by the hundreds of lectures Bogle has delivered to professional groups and college students in recent years, this book will help you learn what it really means to have “enough” and how close you are to really having it.
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This book is small more than the all too common call for a return to the excellent ancient days when you could trust the finacial world to do the right thing. It’s going to take a lot more than a nice small book to get the job done. It would be a lot better if Mr. Bogle used his foundation’s money to help the truly needy not persons who are going to a private college or Princeton.
Reader’s Rating: 3 / 5
The shipper was brilliant! I received the item within two days of ordering — way before the expected date!
Reader’s Rating: 5 / 5
This book was a fun read. It is tiny and not too long. In fact, it was fleeting. If it had been formatted a small differently it probably could have been sold as a pamphlet as a replacement for of as a book. But I liked it.
As I examined the Table of Contents, something you can see if you go to the Search Inside that Amazon offers, I got the feeling I was reading a book from some ancient timer who considered himself mature, knowledgeable, and a honestly smart guy. Oh yeah, maybe full of wisdom, too?
As I turned the pages I kept thinking about the ancient line I heard growing up: Son, as long as you do your best, that is all we can question for. Well, who is to say – What is my best? As far as I am concerned, I can permanently throw in a small extra effort and do better.
So who is to say – What is enough? The leader tries to clarify it. But I thought he fell fleeting. He fell fleeting in the same way my folks fell fleeting when they told me I only had to do my best. When terms are relative they are not easily defined. And a book devoted to defining a term that is basically undefinable is bound to be viewed as a failure or at least come up fleeting. This book is not a failure I will have you know.
The book makes a valid point. When determining what is enough the judge (maybe you?) must perform a balancing test. You’ll have to figure out what is too much, and what is not enough. And whatever you determine is “just right” IS enough. The leader provides us with 10 chapters split into three parts: Money (chapters 1-3), Business (chapters 4-7), and Life (chapters 8-10). He makes some excellent points. And after reading the book one will probably sit and reflect over what has been said. But does it do a excellent job defining the term? I reflect not. 4 stars!
Reader’s Rating: 4 / 5
A right classic! I felt this work was so insightful I have agreed a copy to both of my sons. The “values” it puts foward and the plot for the future are clear and germain to our society. Thank you Mr Boggle.
Reader’s Rating: 5 / 5
John “Jack” Bogle has hit a homerun with this book. There are so many though provoking thoughts that I’m amazed that most of Americans choose to snub them. I hope that this book wakens all of us on how far America has fallen from its levelheaded foundation(s) to a country that is riddled with fraud and dishonesty. I couldn’t get enough of Enough!
Reader’s Rating: 5 / 5