Ch 4 – Too Much Counting, Not Enough Trust
Numbers are not reality. At best, they are a pale reflection of reality. At worst, they’re a gross distortion of the truths we seek to measure. But the damage doesn’t stop there. Not only do we rely too heavily on historic economic and market data; our optimistic bias also leads us to misinterpret the data and give them credence that they rarely merit. P 99-100
Ch 5 – Too Much Business Conduct, Not Enough Professional Conduct
But as so many of our nation’s proudest professions gradually shift their traditional balance away from that of trusted professions serving the interests of their clients of the community and toward that of commercial enterprises seeking competitive advantage, the human beings who rely on those services are the losers. P 125
Ch 1 – Too Much Cost, Not Enough Value
But our financial economy, by definition, deducts from the value created by our productive businesses. Think about it: While the owners of business enjoy the dividend yields and earnings growth that our capitalistic system creates, those who play in the financial markets capture those investment gains only after the costs of financial inter-mediation are deducted. Thus, while investing in American business is a winner’s game, beating the stock market before those costs is a zero-sum game. But after inter-mediation costs are deducted, beating the market – for all of us as a group – becomes a loser’s game. P 47
Reading can be broken into 3 levels: skimming, reading, & absorbing. Each level represents an increasing amount of interaction. Ideally, the more thought that’s put into the process – the more you should get out of it in the end.
Although a short read at 250+ pages, John Bogle’s Enough fell under the last category as: each, individual word was read, breaks were taken between sections, and some were even re-read in an effort to fully grasp the concepts.
Following the book’s structure, this review will be segmented throughout the week with one, new post each day and the outline for the week below.
Monday, May 31st – Review & Introduction
Tuesday, June 1st – Money (Ch 1 – 3)
Wednesday, June 2nd – Business (Ch 4 – 7)
Thursday, June 3rd – Life (Ch 8 – 10)
Friday, June 4th – Wrapping Up: What’s Enough?
Quite the writing background, the California native, Kathy Kristof, has built a career working for such reputable news sources as: LA Times, Bloomberg, Forbes, and currently CBS MoneyWatch and The Fiscal Times. As if that wasn’t enough, she’s authored three books and recently delved into the world of blogging. This newest endeavor allows her to explore her cooking interests while relying on her financial abilities.
Kathy Kristof has graciously allowed me to conduct this interview and patiently waited for my questions. To return the favor, I’ve included many links to her material. Please take the time to check each out and really see what she has to offer. With that, on to the interview!