The Bogleheads' Guide to Investing

The Bogleheads' Guide to Investing
by Taylor Larimore, Mel Lindauer, Michael LeBoeuf

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Book Summary Information

Author: Mel Lindauer, Michael LeBoeuf, Taylor Larimore
Foreword: John C. Bogle
Edition: Paperback
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2007-09-28
ISBN: 0470067365
Number of pages: 336
Publisher: Wiley

Book Reviews of The Bogleheads' Guide to Investing

Book Review: A practical book charts a clear course
Summary: 5 Stars

This book establishes a set of basic principles for investing and, to a lesser degree, personal finance. The authors propose the principles, explain them, illustrate them and show you how to apply them.

The book glances on non-investment personal finance topics including adopting a net worth mindset, emergency funds, estate planning, and insurance. The insurance chapter was very valuable and exposed several fallacious rationalizations people apply to insurance purchase decisions.

The meat of the book is investing. Investing is covered in great detail, including in-depth descriptions of various investments, how they work, and how (or if) you should use them. The coverage of the effect of taxes on your investments is detailed and invaluable. The costs of investing are examined, and when you know where to look, you may find some nasty surprises in your current investments, especially your 401k plan!

The entire book is highly opinionated, and I found that refreshing. The authors know what they're talking about, have a good idea of what the average person saving for retirement needs to do, and never fail to call it the way they see it. The writing style is fact-based advice, with humorous sayings sprinkled about, and is best described as "grandfatherly."

The chapter on behavioral economics was an eye-opener. I thought that I was smart enough not to fall for any of those traps. I smugly read through the first half of them, then recognized myself in "Paralysis by Analysis." Oh my. That gave me some food for thought, and a new outlook.

I did find the chapter on Asset Allocation to be lacking in practical advice. It only glanced on how to make an asset allocation for yourself, and didn't address the difficulties of balancing an asset allocation over multiple tax-advantaged accounts that have contribution limits and withdrawal penalties. (But there's a list of recommended reading in the back, and maybe one of those books will have more information on this topic.)

Having just finished the book, I'm going back through it and making a list of information I need and actions to take. I finally have a direction to go in, and not just more conflicting details!

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Summary of The Bogleheads' Guide to Investing

The 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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