Summary of John C. Bogle's Enough

Please note: This is a companion version & not the original book. Sample Book Insights: #1 The financial system takes from society, and the more it takes, the less the investor earns. The more the financial system takes from you, the less you have. The investor feeds at the bottom of the food chain of investing. #2 The financial sector, which was booming at the time, began to crumble in 2007. The industry was led by Citigroup and investment banks Merrill Lynch and Bear Stearns, who created risky, reckless, and costly debt instruments. #3 The financial sector has dominated the American economy and stock market, and has been responsible for a large portion of the SP 500 company’s earnings. The clients of the banking firms have lost billions of dollars in risky debt obligations, yet investment banking executives continue to be paid at high levels. #4 The recent financial crisis has shown the compensation of three well-publicized financial sector CEOs who failed their clients and their shareholders. Charles Prince, CEO of Citigroup, took office in October 2003, with Citigroup stock selling at $47 per share. While the bank did well for a few more years, it created a highly risky investment portfolio that fell to pieces within five years.