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.
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