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Once upon a time, there lived a wealthy family named the Gotrocks and they owned 100% of every stock in the United States.

And there’s no better way to do that than a “folksy parable,” first told by Warren Buffett in the Berkshire Hathaway’s 2005 Annual Report, and adapted by Bogle for his own purposes. It is, in a sentence, a book “determined to change the very way you think about investing.” Well, get ready for such a change! The Gotrocks familyīefore you can understand how index funds work, you must understand how the stock market works. It is a book, in his explanation, about how financial markets work, about the value of diversification, and about why long-term investing serves far better than short-term speculation. Bogle – the creator of the first index fund – is not just a book about index funds. stock market and hold them forever.” “The Little Book of Common Sense Investing” by John C. In their most basic form, “index funds” are “mutual funds that simply buy shares of substantially all of the stocks in the U.S.