Written by John C. Bogle–the legendary founder of the Vanguard Mutual Fund–Enough. offers his unparalleled insights on money, the values we should emulate in our business and professional callings, and what we should consider as the true treasures in our lives. Inspired in large measure by the hundreds of lectures Bogle has delivered to professional groups and college students in recent years, this book will help you discover what it really means to have "enough" and how close you are to really having it.
Introduction.
MONEY.
Chapter 1: Too Much Cost, Not Enough Value.
Chapter 2: Too Much Speculation, Not Enough Investment.
Chapter 3: Too Much Complexity, Not Enough Simplicity.
BUSINESS.
Chapter 4: Too Much Counting, Not Enough Trust.
Chapter 5: Too Much Business Conduct, Not Enough Professional Conduct.
Chapter 6: Too Much Salesmanship, Not Enough Stewardship.
Chapter 7: Too Much Management, Not Enough Leadership.
LIFE.
Chapter 8: Too Much Focus on Things, Not Enough Focus on Commitment.
Chapter 9: Too Many Twenty-First-Century Values, Not Enough Eighteenth-Century Values.
Chapter 10: Too Much “Success,” Not Enough Character.
WRAPPING UP: WHAT'S ENOUGH?
What's Enough for Me? For You? For America?
Afterword: A Personal Note About My Career.
Acknowledgments.
Notes.
Index.
“I highly recommend the book "Enough" by Vanguard's founder, Jack Bogle, who eloquently outlines many of the frustrations investors have.” (USA Today)
“This small book is another home run. In it, Bogle ruminates on greed, excess and other moral failings that led to the current economic crisis. He calls for a return to "18th-century values" that somehow seem cutting edge. Among them: stewardship, integrity, leadership and character.”–Liz Pulliam Weston, MSN Money
“While Enough turns one man’s amazing story of financial and personal success into a guidebook to a more satisfying life, it offers more than a memoir about a life well lived. “Enough” also presents a clear understanding of the fields of finance, money management and leadership that is tempered by wit and wisdom from across the ages that puts it all into perspective while leading the way forward for anyone willing to take Bogle’s enlightened idealism to heart. “
– SmartBusiness
Vanguard Group founder Bogle expounds on the hidden costs of our current financial system (primarily driven by speculation and complexity) and suggests that a deeper understanding of what is truly “enough” will help foster more sustainable investing and better living. (Library Journal Best of 2008 Selection)
“Why don’t people publish pamphlets any more. I’m not talking about the slim-jims handed out at trade shows, but rabble-rousing, world-changing works like Common Sense and The Communist Manifesto. John Bogle, the founder of Vanguard, follows in the footsteps of the great pamphleteers…‘Central to the effective functioning of capitalism,’ he writes, ‘was the fundamental principle of trusting and being trusted’—and that is disappearing. The problem now: No one is satisfied with having ‘enough’ money or enough success. … If pamphlets were still the rage, 48 pages distilled from the contents of this book could be something as powerful to our age as anything written by Thomas Paine or Marx and Engels. In our more bookish time, though, Bogle has fleshed his ideas out to an interesting, 266-page overview of his life and his views.” (Barron’s)
“’What have I created?’ [Bogle] asks in mock horror in his new book…his cry reflects a deeper personal dilemma, one that jags like a scar through this thoughtful meditation on the excess and greed that created the worst financial crisis since the Great Depression. … I applaud his enthusiasm and don’t doubt his wisdom and sincerity. ‘Enough’– with the period – is a worthy addition to the canon, a variation of his familiar sermon on thrift, simplicity, and the superiority of low-cost index funds.” (James Pressley, Bloomberg News)
“Jack Bogle’s passionate cry of Enough. contains a thought-provoking litany of life lessons regarding our individual roles in commerce and society. Employing a seamless mix of personal anecdotes, hard evidence, and all-too-often-underrated subjective admonitions, Bogle challenges each of us to aspire to become better members of our families, our professions, and our communities. Rarely do so few pages provoke so much thought. Read this book.”
—David F. Swensen, Chief Investment Officer, Yale University
"We live in a time that values achievement over character. When the two collide, character often takes a back seat and relationships of all kinds are shattered. Bogle observes that while the financial represents the worst of it, what we see today is not just a financial sector problem, but a societal problem. There is really just too much greed everywhere. … Enough is really about discovering what is really important in our lives. " (Michael McKinney, LeadingBlog)
"Bogle is a rarity - a true captain of industry who speaks about complex economic issues in a language comprehensible to the layperson." (Michael Smerconish, The Philadelphia Enquirer)
"Enough shines a light on Bogle's sense of despair over the state of the financial industry, and perhaps industry in general. … From CEOs who implode their companies and float away on golden parachutes, to financial companies who create instruments so complex they themselves have trouble understanding them, to mutual fund companies that market rosy returns while sugarcoating their fees, Bogle sees a lack of integrity and a willingness to play fast and loose with ethical rules in order to make a buck. (Or, maybe more accurate, 150 billion bucks.)" (Justin McHenry, BlogCritics Magazine)
"It's hard to imagine a better time to publish a book that advocates moderation, balance and integrity in the business world. In this wise meditation, Bogle, the folk-hero creator of the first index mutual fund and founder of the Vanguard Mutual Fund Group, deplores ‘our worship of wealth and the growing corruption of our professional ethics but ultimately the subversion of our character and values.’ Directly in his sights: CEOs and hedge-fund managers who draw ‘obscene’ compensation. At this time of plunging portfolios, it is a relief to be told that ‘enough’ is within reach." (TIME Magazine)
"I will simply say that it is one of the best business books ('life' books?) I have ever read, an easy All-time Top 10. And its timing is, well, read it yourself ..."
—Tom Peters
“This is an impressive message from a distinguished businessman. It will challenge all decision makers to consider the sufficiency and direction of their lives and work. What do we mean by Enough? Enough of what? Enough for what purpose? Feast here and reflect.”
—Robert F. Bruner, Dean and Charles C. Abbott Professor of Business Administration, Darden Graduate School of Business
“From one ‘battler’ to another: Thank you for putting in one little book the premise for an active, long life. A primer for those who will abjure complacency and just wanting more, who’d rather focus on the joy of trying to move some ball downfield.”
—Ira Millstein, Senior Partner, Weil Gotshal & Manges LLP
“The balances one must create in investing, in running a business, and in life more generally are simply and clearly stated in Jack’s most recent book, Enough. Unfortunately there are not enough Jack Bogles around in today’s world of instant gratification. Enough. should be must reading for business students and corporate board members.”
—David L. Sokol, Chairman, MidAmerican Energy Holdings Company
"Although Enough. is presented in a small volume, John Bogle's wisdom is writ large and profound. The messages are particularly meaningful as we all reel from the moral, economic and financial meltdown that confronts us today.—William H. Donaldson, Former Chairman, U.S. Securities and Exchange Commission
“[an] engaging, highly readable new book on what went wrong in financial markets in recent years. In the growing canon of "what went wrong" books, Bogle's offering holds a unique place. . . readers will value the common sense packed in these pages.” (Jared Bernstein, Philadelphia Inquirer)
John C. Bogle is founder of the Vanguard Mutual Fund Group and President of its Bogle Financial Markets Research Center. He created Vanguard in 1974 and served as chairman and chief executive officer until 1996 and senior chairman until 2000. In 1999, Fortune magazine named Mr. Bogle as one of the four "Investment Giants" of the twentieth century; in 2004, Time named him one of the world's 100 most powerful and influential people; and Institutional Investor presented him with its Lifetime Achievement Award. Enough., Bogle's seventh book, follows his 2007 bestseller The Little Book of Common Sense Investing (Wiley).
We live during a time where there seems to be no limit to what "enough" entails. CEOs—even those of failing corporations—pull down huge paychecks and hedge fund managers can enjoy billion-dollar paydays. These excesses are only the most obvious examples of the gross excesses that have overwhelmed our financial system, precipitating the crisis we now face.
These excesses extend far beyond the financial markets. Not knowing what is "enough" also undermines our business and professional values, and often leads us astray when attempting to make important personal decisions about our investments and indeed about our own lives.
Throughout his legendary career, John C. Bogle—founder of the Vanguard Mutual Fund Group and creator of the first index mutual fund—has helped investors build wealth the right way and led a tireless campaign to restore common sense to the investment world. Along the way, he's seen how destructive an obsession with financial success can be. Now, with Enough., he puts this dilemma in perspective.
Inspired in large measure by the hundreds of lectures Bogle has delivered to professional groups and college students in recent years, Enough. seeks, paraphrasing Kurt Vonnegut, "to poison our minds with a little humanity." Bogle considers what "enough" actually means as it relates to money, business, and life. The world of finance, he argues, is marked by too much cost, and not enough value; too much speculation, and not enough investment; too much complexity, and not enough simplicity. Similarly, our business world is focused too much on counting and salesmanship, and not enough on trust and stewardship; and our society at large is too obsessed with charisma and wealth, and not enough with character and wisdom.
Bogle also considers what "enough" means for him personally, and offers his thoughts on how—in a world increasingly focused on status and score-keeping—you can find your way and take comfort in the knowledge that you can indeed have "enough."
Written in a straightforward and accessible style, Enough. inspires and enlightens in equal measure. Bogle offers his unparalleled insights on money, on the values we should emulate in our business and professional callings, and on what we should consider as the true treasures in our lives. Discover what it really means to have "enough" and you'll quickly realize how close you are to having it.
"What went wrong? What can, and should, go right? The great Jack Bogle has the answers. Enough. will leave you hungry for more."—JAMES GRANT, editor of Grant's Interest Rate Observer
"Jack Bogle's wonderful, thoughtful, helpful, and fun-filled little book inspired me to create my own title: Never Enough of Jack Bogle!"—Peter L. Bernstein, author of Capital Ideas Evolving and Against the Gods
"In Enough., Jack Bogle, 'the conscience of Wall Street,' distills his half-century of observations on the capital markets, and on life in general, into a few hundred entertaining pages—required reading for those concerned about their own future, their family's future, and the nation's future."—William J. Bernstein, author, A Splendid Exchange and The Four Pillars of Investing
"Enough. gives new meaning to the words 'commitment,' 'accountability,' and 'stewardship.' Bogle writes with clarity and passion, and his standards make him a role model for all of us. Enough. is must-reading for millions of U.S. investors disenchanted by today's culture of greed, accounting distortions, corporate malfeasance, and oversight failure."—ARTHUR LEVITT, Former Chairman, U.S. Securities and Exchange Commission
Publisher: John Wiley & Sons
Distributor: John Wiley & Sons
Publication Date: 11-10-2008
Pages: 288
Measurements: 183.5mm X 136.0mm X 26.9mm X 11.84oz
