The Clash of the Cultures

Investment vs. Speculation

By: John C. Bogle, Arthur Levitt - foreword

Narrated by: Al Kessel

Length: 13 hrs and 11 mins

Publisher's summary

Over the course of his 60-year career in the mutual fund industry, Vanguard Group founder John C. Bogle has witnessed a massive shift in the culture of the financial sector. The prudent, value-adding culture of long-term investment has been crowded out by an aggressive, value-destroying culture of short-term speculation. Mr. Bogle has not been merely an eyewitness to these changes, but one of the financial sector's most active participants. In The Clash of the Cultures, he urges a return to the common-sense principles of long-term investing. 

Provocative and refreshingly candid, this audiobook discusses Mr. Bogle's views on the changing culture in the mutual fund industry, how speculation has invaded our national retirement system, the failure of our institutional money managers to effectively participate in corporate governance, and the need for a federal standard of fiduciary duty. 

Mr. Bogle recounts the history of the index mutual fund, how he created it, and how exchange-traded index funds have altered its original concept of long-term investing. He also presents a first-hand history of Wellington Fund, a real-world case study on the success of investment and the failure of speculation. The book concludes with ten simple rules that will help investors meet their financial goals.

©2012 John C. Bogle (P)2019 Gildan Media

It’s okay

I prefer the little book of common sense investing by John c bogle. It was okay felt longer than it should have been.

Genius

Simple yet very comprehensive and worth the listen to and enjoy. Mr Bogel is a lost treasure but his words are still with us.

slow

I had to listen to it at 1.3 speed for it to sound normal and probably should of went faster. might be ok to read but listening was a nightmare. monotone voice and reads slow was just not doing it for me.

Excellent but dry

As another reviewer said, it's a dry listen/read. However, this book is excellent. The past few years I have been reading books by the legends - Philip Fisher (Common Stocks and Uncommon Profits), Benjamin Graham (Intelligent Investor). "The Clash of the Cultures' is one of those eye-opening books where you realize if you are to invest that you had better educate yourself so that you can make money by truly investing long-term. It is unfortunate that many would-be investor 'education' is watching short-term "buy buy buy! sell sell sell!" mentality stuff (think Mad Money). This book, although it was a slog will help shape an investor so that he/she can cut through the noise and make money.

Dry as all Hell

Mr. Bogle is one of my heroes, and I love indexing, but he is one of the most boring writers out there, it's fact after fact after fact. Barely an anecdote or the imaginative illustration of a concept to lighten the SLOG of his books. Every time I finish one I swear never to read another one but his is such a contribution I unfortunately can't help myself. Good info but a boring grind, it's possible to write non-fiction without being this dry.

Great Investment Philosophy

This book articulates some of the more perplexing investment concepts. The narrator is a little dry, but the content is worth the read.

Others are better

As a business associates attorney, his proposals and talking points are near nonsense. He repeats phrases such as "fiduciary duties" and "power to the stockholder" ad nauseum but the application is lacking and obacure. Im not sure if he wanted to build a political career off his book, but its fluff and nonsense.