Don't Believe the Numbers! Reflections on Investors' Misconceptions, Capitalism

"Don't Believe the Numbers!" - a book by the legendary financier John Bogle, who is called the father of index investing, is an anthology of the latest articles and speeches on topics that concern the author the most: the exorbitant... cost of financial intermediaries' services; the disgraceful non-compliance of companies with their fiduciary duties; the disheartening triumph of emotions over sober reasoning in many investment decisions and as a result - the victory of speculation over investing. The main idea that the author carried throughout the book and throughout his long life is brilliantly simple: it is futile to try to outsmart the market by achieving higher returns - on the contrary, one must cooperate with it and be sensitive to any of its movements. Only in this case will mutual funds be truly "mutual".