RT Book, Whole DB /z-wcorg/ DS http://worldcat.org ID 748330569 LA English T1 The clash of the cultures : investment vs. speculation A1 Bogle, John C., PB John Wiley & Sons PP Hoboken, N.J. YR 2012 SN 9781118122778 1118122771 AB Vanguard Group founder John C. Bogle discusses changes in the culture of the mutual fund industry and how speculation has come to dominate investment. The book presents a hard-hitting look from the creator of the first index fund. Over the course of his sixty-year career in the mutual fund industry, the author 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 eye-witness to these changes, but one of the financial sector's most active participants. At the end, he offers advice for investors and a warning for speculators.