The Battle for the Soul of Capitalism

If you still think that mutual funds and unit trusts are still the best investments around, try having a shot at this book. It may alter your reality forever.

The Battle for the Soul of Capitalism exposes the decadence and corruption that takes place in the mutual fund industry and how you, the individual investor, lose out ultimately.

In his timely classic, John Bogle argues that mutual fund companies these days have interests that do not run parallel to yours and how they have been trying to outdo each other in terms of volume while paying little attention to the average investor. On top of that, employee compensations in mutual fund companies have been hovering at obscene levels in the form of “management fees’ while ultimately are chipping away at investor returns. Among the interesting issues pointed out is the fact that mutual fund returns has been dwindling while employee pay at these same companies are sky-rocketing through the roof.

As founder and former CEO of a mutual fund company, John Bogle is perhaps more than qualified to speak on the matter. On top of that, he has a no-nonsense and straightforward approach to the touchy subject of corporate America’s employee’s compensation. This makes for a very entertaining read indeed. Highly recommended.