Acknowledgments for the Original Edition

To acknowledge all of those who contributed to this book is no mean task. I begin by recognizing some of the writers whose intellects have helped to nourish my thinking about investing, beginning with Dr. Paul Samuelson, whose textbook I read at Princeton University in 1948, followed by (in the approximate order of my readings) Adam Smith, John Maynard Keynes, Charles Ellis, Dr. William Sharpe, Peter Bernstein, Warren Buffett, Arthur Zeikel, Byron Wien, and Jeremy Siegel.

If the minds of these men helped me to develop the intellectual framework for the book (though they may not agree with all I’ve written), several more fine minds helped turn my first draft into what I hope is a well-finished final manuscript. Princeton Professor Burton G. Malkiel, Money magazine associate editor Jason Zweig, and Vanguard principals Craig Stock and James M. Norris were generous with their time and unsparing with their comments, although I accept full responsibility for the book in its final form.

The most important role of all, however, was played by Andrew S. Clarke, assistant to the senior chairman of Vanguard (forgive the third-person formulation), who provided consistent and timely support in developing the myriad statistics and graphs, helped to edit portions of the book, and translated my own scribbled editorial changes into a text that the printers could follow. Andy came to Vanguard from Morningstar less than two years ago, and has served with me but a year. Now he has experienced his baptism by fire and has exceeded my highest expectations.

Andy picked up the cudgels from Walter H. Lenhard, my previous aide, who had already invested considerable effort on the data in many of the chapters, and I remain deeply in his debt. I ’m also indebted to others at Vanguard who provided commentary and assistance along the way, including John S. Woerth, Mortimer J. Buckley, Gus Sauter (especially on the index fund chapter), and Mary Lowe Kennedy; and at John Wiley & Sons, Pamela van Giessen, who played the key role as we worked through the book’s development, editing, and publication. Finally, Emily A. Snyder, my long-time assistant and good right arm, and a paragon of patience and loyalty, did far more than her fair share as the book developed from an idea into what you now have before you.

Outside of the world of mutual funds, I also acknowledge the incredible support of my guardian angels at Philadelphia’s Hahnemann Hospital, led by Susan C. Brozena, M.D., F.A.C.C. Receiving a heart transplant just three years ago was truly a miracle, one without which this book would never have come into existence. My highest hope is that the human beings who own mutual fund shares in America will be well served by the continuation of my career made possible by my second chance at life.

Finally, my deepest appreciation to my beloved wife, Eve, who stoically endured the countless hours I’ve spent in bringing this task to completion, all the while hoping that I would, finally, after a near-half-century career in the mutual fund industry, slow down a bit. While that time has not yet come, I promise her that no deadlines will be set for my next book.

JOHN C. BOGLE