Knowing Enough
Description
John C. Bogle and William Bernstein define "enough" and suggest another golden rule: never confuse your self-worth with your net worth.
Knowing Enough combines the penetrating insights into investing and life of John C. Bogle, the founder of Vanguard and the pioneer of index investing, and the priceless practical advice of William J. Bernstein, bestselling author of The Four Pillars of Investing and market historian. Their conversations were the centerpiece of Boglehead meetings until Bogle's passing on January 19, 2019.
The book combines Bogle's insights from his bestselling Enough and Bernstein's practical how-to, If You Can. Their goal: to inspire you to lead a meaningful life that reaches well beyond your net worth to touch upon matters of self-worth, and to provide you with the means of doing so. You'll also find:
- How to focus less on chasing financial success and more on living a meaningful life
- Insight into investing wisely and contributing to the common good
- Reflections on lessons learned from Bogle throughout his career
Written in the same conversational tone found between Bogle and Bernstein at Boglehead events, Knowing Enough challenges readers to rethink their relationship with money, business, and society.
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Persons
John C. Bogle founded the Vanguard Group in 1974 and was a revered figure in the mutual fund industry until his passing in 2019. He also started the world's first index mutual fund. A graduate of Blair Academy and Princeton University, he spent his entire career championing the individual investor. Bogle was a prolific writer for the investment profession authoring twelve books, many being bestsellers.
William J. Bernstein is a neurologist, co-founder of Efficient Frontier Advisors, an investment management firm, and has written several titles on finance and economic history. He has contributed to peer-reviewed finance literature and has written for national publications, including Money magazine and The Wall Street Journal.
Content
Preface to Knowing Enough vii
Original Foreword to Enough by William Jefferson Clinton xvii
Original Prologue to Enough by Tom Peters xxi
John C. Bogle's Author's Note to Enough: A Crisis of Ethic Proportions xxvii
Original Introduction to Enough 1
Money
Chapter 1 Too Much Cost, Not Enough Value 29
Chapter 2 Too Much Speculation, Not Enough Investment 49
Chapter 3 Too Much Complexity, Not Enough Simplicity 71
Business
Chapter 4 Too Much Counting, Not Enough Trust 97
Chapter 5 Too Much Business Conduct, Not Enough Professional Conduct 120
Chapter 6 Too Much Salesmanship, Not Enough Stewardship 141
Chapter 7 Too Much Management, Not Enough Leadership 159
Life
Chapter 8 Too Much Focus on Things, Not Enough Focus on Commitment 183
Chapter 9 Too Many Twenty-First-Century Values, Not Enough Eighteenth-Century Values 193
Chapter 10 Too Much "Success," Not Enough Character 211
Knowing Enough (if You Can)
What's Enough For Me? For You? For America? 229
Bonus Content from If You Can: How Millennials Can Get Rich Slowly by William J. Bernstein 249
Bonus Content from Stay the Course: What Really Matters: A Memoir (Written at Dusk) by John C. Bogle 287
Afterword to Enough: A Personal Note about My Career 325
Author's Acknowledgments 329
Notes 333
Index 345
