"The Mutual Fund Industry Handbook is a remarkably important work . . . I am profoundly impressed by the broad and comprehensive sweep of information and knowledge that this book makes available to industry participants, college and business school students, and anyone else with a serious interest in this industry." -- From the Foreword by John C. Bogle President, Bogle Financial Markets Research Center Founder and former chief executive, The Vanguard Group A Foreword by John C. Bogle, founder of The Vanguard Group and one of the most respected leaders in the mutual fund industry, sets the stage for this authoritative book that explains the complexities of the phenomenal industry in simple terms. Investors like the fact that mutual funds offer professional management, easy diversification, liquidity, convenience, a wide range of investment choices, and regulatory protection. Mutual Fund Industry Handbook touches on all of those features and focuses on the diverse functions performed in the day-to-day operations of the mutual fund industry. You'll learn about: Front-office functions-analysis, buying, and selling. Back-office functions, including settlement, custody, accounting, and reporting. Commission structures-front-end loads, back-end loads, or level loads. The various fund categories used by the Investment Company Institute, Morningstar, and Lipper. The roles played by fund managers, investment advisors, custodial banks, distributors, transfer agents, and other third-party service providers. If you want a definitive reference on the mutual fund industry, this is the book for you.

Empire of the Fund is an exposé of the way we save now with proposals to fix it. The United States has embarked upon the riskiest experiment in our financial history: to see whether millions of ordinary, untrained citizens can successfully manage trillions of dollars in a system dominated by skilled and powerful financial institutions.

Praise for Don't Count On It! "This collection of Jack Bogle's writings couldn't be more timely. The clarity of his thinking—and his insistence on the relevance of ethical standards—are totally relevant as we strive to rebuild a broken financial system. For too many years, his strong voice has been lost amid the cacophony of competing self-interests, misdirected complexity, and unbounded greed. Read, learn, and support Jack's mission to reform the industry that has been his life's work." —PAUL VOLCKER, Chairman of the President's Economic Recovery Advisory Board and former Chairman of the Federal Reserve (1979–1987) "Jack Bogle has given investors throughout the world more wisdom and plain financial 'horse sense' than any person in the history of markets. This compendium of his best writings, particularly his post-crisis guidance, is absolutely essential reading for investors and those who care about the future of our society." —ARTHUR LEVITT, former Chairman, U.S. Securities and Exchange Commission "Jack Bogle is one of the most lucid men in finance." —NASSIM N.TALEB, PhD, author of The Black Swan "Jack Bogle is one of the financial wise men whose experience spans the post–World War II years. This book, encompassing his insights on financial behavior, pitfalls, and remedies, with a special focus on mutual funds, is an essential read. We can only benefit from his observations." —HENRY KAUFMAN, President, Henry Kaufman & Company, Inc. "It was not an easy sell. The joke at first was that only finance professors invested in Vanguard's original index fund. But what a triumph it has been. And what a focused and passionate drive it took: it is a zero-sum game and only costs are certain. Thank you, Jack." —JEREMY GRANTHAM, Cofounder and Chairman, GMO "On finance, Jack Bogle thinks unconventionally. So, this sound rebel turns out to be right most of the time. Meanwhile, many of us sometimes engage in self-deception. So, this book will set us straight. And in the last few pages, Jack writes, and I agree, that Peter Bernstein was a giant. So is Jack Bogle." —JEAN-MARIE EVEILLARD, Senior Adviser, First Eagle Investment Management Insights into investing and leadership from the founder of The Vanguard Group Throughout his legendary career, John Bogle-founder of the Vanguard mutual fund group and creator of the first index mutual fund-has helped investors build wealth the right way, while, at the same time, leading a tireless campaign to restore common sense to the investment world. A collection of essays based on speeches delivered to professional groups and college students in recent years, in Don't Count on It is organized around eight themes Illusion versus reality in investing Indexing to market returns Failures of capitalism The flawed structure of the mutual fund industry The spirit of entrepreneurship What is enough in business, and in life Advice to America's future leaders The unforgettable characters who have shaped his career Widely acclaimed for his role as the conscience of the mutual fund industry and a relentless advocate for individual investors, in Don't Count on It, Bogle continues to inspire, while pushing the mutual fund industry to measure up to their promise.

Drawing on years of experience, two financial experts warn investors of the potential financial hazards of mutual funds, discussing the hidden costs of such funds, providing realistic insights into how such funds operate, and offering helpful advice on how to protect one's investments.

Investing—the commitment of resources to achieve a return—affects individuals, families, companies, and nations, and has done so throughout history. Yet until the sixteenth century, investing was a privilege of only the elite classes. The story behind the democratization of investing is bound up with some of history's most epic events. It is also a tale rich with lessons for professional and everyday investors who hope to make wiser choices. This entertaining history doubles as a sophisticated account of the opportunities and challenges facing the modern investor. It follows the rise of funded retirement; the evolution of investment vehicles and techniques; investment misdeeds and regulatory reform; government economic policy; the development of investment theory; and the emergence of new investment structures. Norton Reamer and Jesse Downing map these trends and profile the battle between low cost index and exchange-traded funds, on the one hand, and the higher-fee hedge funds and private equity, on the other. By helping us understand this history and its legacy of risk, Reamer and Downing hope to better educate readers about the individual and societal impact of investing and ultimately level the playing field.