Saturday, July 25, 2009

Enough: True Measures of Money, Business and Life

Character. Index fund pioneer Jack Bogle has always marched with confidence to the beat of a drummer different from that followed by his competitors. His approach of charging the lowest possible fees for mutual funds led him toward building Vanguard as a market leader, and put less money in his own pocket that that received by his peers whose fees enriched their personal fortunes. In his latest book, Enough: True Measures of Money, Business and Life, Bogle describes the good fortune of his own life, and presents a manifesto of sorts for financial executives to lead through a return to fundamental personal values, a return to trust, and the foundation of strong moral character. The title refers to a reported conversation between Kurt Vonnegut and Joseph Heller while they were attending a party hosted by a billionaire. After Vonnegut tells Heller that their host earns more in a day that Heller ever earned from his successful novel Catch-22, Heller replied that he has something that the billionaire will never have: enough. Enough is a preachy treatise that may alienate some readers, while for others it may be inspirational. Because of Bogle’s straightforward writing style, I highly recommend Enough to any reader willing to consider alternative ways of measuring success and achievement.

Rating: Four-star (Highly Recommended)

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