Little Book Common Sense Investing Bibliography

The Little Book of Common Sense Investing  Bibliography Introduction

 p. xix - Thomas Paine, Common Sense, available at http://www.ushistory.org/paine/commonsense/singlehtml.htm  p. xx – Michael Kelly, “Cranks for Veep,” The New Yorker , (September 30, 1996).  p. xxi – Paul Samuelson, from his endorsement of Common Sense on Mutual Funds, by John C. Bogle (1999).  p. xxiii – Charles T. Munger.  Poor Charlie’s Almanack, The Wit and Wisdom of Charles T. VA.: Donning Publishing, 2006). Munger . Edited by Peter D. Kaufmann. (Virginia Beach, VA.:  p. xxiii - William Bernstein, The Four Pillars of Investing (New York: McGraw Hill, 2002).  p. xxiii - “The Blame Blame Game,” The Economist , July 3, 2003.

Chapter One

 p. 1 – Warren Buffett. The Gotrocks parable pa rable is adapted from Warren Buffett’s 2005 Letter to Berkshire Hathaway Shareholders. See page 18 of the linked document: http://www.berkshirehathaway.com/letters/2005ltr.pdf   p. 6 – Jack Meyer. Quoted in “Online Extra: Husbanding that $27 Billion.” Business Week , December 27, 2004, http://www.businessweek.com/@@kSYT7IYQ3RdgsQYA/magazine/content/04_52/b3914474.h http://www.businessweek.com/@@kSYT7IYQ3RdgsQYA/magazine/content/04_52/b3914474. h tm  p. 7 – Burton Malkiel, A Random Walk Down Wall Street , (New York: WW Norton, 1999).

Chapter Two

 p. 9 – Warren Buffett. Quoted in Chairman’s Letter, Berkshire Hathaway 1996 Annual Report, February 28, 1997. http://www.berkshirehathaway.com/letters/1996.html  p. 13 – John Maynard Keynes, The General Theory of Employment, Interest, and Money (1936;  New York; Harcourt, Brace and Company, 1964).  p. 19 – Roger Martin, “The Wrong Incentive: Executives Taking Stock will Behave Like Athletes Placing Best,” Barron’s, December 22, 2003.

 p. 20 – Benjamin Graham, The Intelligent Investor , (1949; New York: HarperCollins, 2005).

Chapter Three

 p. 33 – David Swensen, Unconventional Success, (New York: Free Press, 2005).  p. 34 – Jonathan Davis, “Happy Birthday Index Funds,” The Spectator , September 16, 2006.

Chapter Four

 p. 38 – Louis D. Brandeis, Other People’s Money and How the Bankers Use It , (1914; New York: Bedford Books, 1995).  p. 47 – Peter Lynch. “Is There Life After Babe Ruth?” Barron’s, April 2, 1990.  p. 48 – Jon Fossel. Robert McGough, “Although the Mutual-Fund Party Is Hot, A Few Investors Start to Look Elsewhere,” Wall Street Journal , April 29, 1998.  p. 48 – James J. Cramer. From his endorsement of John Bogle’s Common Sense on Mutual   Funds.  p. 48 – Clifford S. Asness, “Capitalization- vs. Fundamentally-Weighted Indices,” unpublished  paper.

Chapter Five

 p. 59 – Warren Buffett, Quoted in Chairman’s Letter, Berkshire Hathaway 2004 Annual Report, February 25, 2005.  p. 59 – Andrew Lo. Laural Kenner and Victor Niederhoffer, “Meet the Willie Mays of Finance, ” July 21, 2000. http://www.dailyspeculations.com/about%20us/archives/archieve/Meet%20the%20Willie%20M ays%20of%20finance.htm  p. 59 – Charles Schwab. James R. Hagy, “Face to Face with Charles Schwab,” Mutual Funds Magazine, September 1996.  p. 59 – Mark Hulbert, “Buy and Hold? Sure, but Don’t Forget the Hold,” New York Times, July 2, 2006.

Chapter Six

 p. 66 – John B. Shoven and Joel M. Dickson, “Taxation and Mutual Funds: An Investor  Perspective,” Tax Policy and the Economy, MIT, Cambridge MA 1995.  p. 67 – William Bernstein, The Four Pillars of Investing , (New York: McGraw Hill, 2002).  p. 67 – Burton Malkiel, A Random Walk Down Wall Street , (New York: WW Norton, 1999).

Chapter Seven

 p. 76 – Henry McVey, Morgan Stanley’s US Portfolio Strategy, September 28, 2006.  p. 76 – Gary Brinson, “The Future of Investment Management,” Financial Analysts Journal , July/August 2005, Vol. 61, No. 4.  p. 77 – Richard M. Ennis, “Are Active Management Fees Too High?,” Financial Analysts  Journal , Sep/Oct 2005, Vol. 61, No. 5.

Chapter Eight

 p. 82 – Warren Buffett, Quoted in Chairman’s Letter, Berkshire Hathaway 1994 Annual Report, March 7, 1995.  p. 84 – Stephen Jay Gould, “The Streak of Streaks,” New York Review of Books, August 18, 1988, Vol. 35, No. 13.  p. 87 – Paul Samuelson. Quoted in Burton Malkiel, A Random Walk Down Wall Street , (New York: WW Norton, 1999).  p. 87 – Jonathan Clements, “Forget the Backlash: Index Funds Still Make Sense for Most Investors,” Wall Street Journal , August 14, 2002.

Chapter Nine

 p. 97 – Nassim Nicholas Taleb, Fooled by Randomness, (New York: Texere, 2001).  p. 98 – Ted Aronson. Jason Zweig, “Confessions of a Fund Pro,” Money, February 1, 1999.  p. 99 – Jason Zweig. Benjamin Graham, The Intelligent Investor , edited by Jason Zweig, (1949;  New York: HarperCollins, 2003).

Chapter 10

 p. 103 – Adviser paper. Daniel B. Bergstresser, John M.R. Chalmers, and Peter Tufano, "Assessing the Costs and Benefits of Brokers in the Mutual Fund Industry" (January 16, 2006). AFA 2006 Boston Meetings, Forthcoming Available at SSRN: http://ssrn.com/abstract=616981  p. 110 – Mark Hulbert, “Buy and Hold? Sure, but Don’t Forget the Hold,” New York Times, July 2, 2006.  p. 112 – William Bernstein, The Four Pillars of Investing (New York: McGraw Hill, 2002).

Chapter Eleven

 p. 120 – Tyler Mathisen, “In Your Interest,” Money, August 1995.

Chapter Twelve

 p. 124 – I am indebted to Wealth Logic’s Allan Roth, who created the Monte Carlo analysis I used in Exhibit 12.1.  p. 136 – Michael Mauboussin, More Than You Know: Finding Financial Wisdom in Unconventional Places, (New York: Columbia University Press, 2006).  p. 136 – Charles T. Munger, speech before Foundation Financial Officers Group. Santa Monica CA, October 14, 1998.

Chapter Thirteen

 p. 150 – Walter R. Good and Roy W. Hermansen,  Index Your Way to Investment Success, (Paramus, New Jersey, Prentice Hall, 1998).  p. 151 – Timothy Hale, Smarter Investing—Simpler Decisions for Better Results, (New York: FT Prentice Hall, 2006).

Chapter Fourteen

 p. 162 – Gregory Mankiw. From his website, http://gregmankiw.blogspot.com/2006/08/siegelvs-bogle-on-index-funds.html  p. 162 – John R. Minahan, “The Role of Investment Philosophy in Evaluating Investment Managers: A Cousultant’s Perspective on Distinguishing Alpha from Noise,” The Journal of   Investing , Summer 2006

 p. 163 – Jeremy J. Siegel, Stocks for the Long Run, (New York: Irwin Publishing, 1994).

Chapter Fifteen

 p. 174 – Don Phillips, “Indexing Goes Hollywood,” Journal of Indexes, July/August 2006.  p. 175 – Jim Wiandt, “The Cold Hard Truth,” Journal of Indexes, November/December 2005.  p. 175 – Peter A. McKay, “Forget Chasing the Energy-Fund Money Train—Pros Warn It Might Be Too Late To Capture Big Gains in a Sector That Is Known for High Volatility,” Wall Street   Journal , September 30, 2005.

Chapter Sixteen

 p. 177 – Benjamin Graham, The Intelligent Investor , (1949; New York: HarperCollins, 2005).  p. 178 – Benjamin Graham, “A Conversation with Benjamin Graham,” Financial Analysts  Journal, September/October 1976, Vol. 32, No. 5.  p. 186 – Warren Buffett. Quoted from correspondence with John C. Bogle.

Chapter Seventeen

 p. 198 – David Swensen, Unconventional Success, (New York: Free Press, 2005).  p. 198 – Holman Jenkins, Jr., “Also Stalking the Fund Industry: Obsolescence,” Wall Street   Journal , December 10, 2003.  p. 198 – Daniel Kahneman. Jason Zweig, “Do You Sabotage Yourself?” Money, May 1 2001.  p. 199 – Warren Buffett, Quoted in Chairman’s Letter, Berkshire Hathaway 1993 Annual Report, March 1, 1994; and Chairman’s Letter, Berkshire Hathaway 2003 Annual Report, February 27, 2004.

Chapter Eighteen

 p. 205 – Warren Buffett, Quoted in Chairman’s Letter, Berkshire Hathaway 1996 Annual Report, February 28, 1997.  p. 212 – Clifford S. Asness, “Rubble Logic: What Did We Learn from the Great Stock Market Bubble?,” Financial Analysts Journal , November 2005, Vol. 61, No. 6.

 p. 213 – Benjamin Franklin, The Way to Wealth, (1758; Bedford, MA: Applewood Books, 1986).  p. 214 – Dr. Paul Samuelson, quoted from a 2005 speech before the Boston Society of Security Analysts, unpublished.