The Clash of the Cultures: Investment vs. Speculation

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The Clash of the Cultures: Investment vs. SpeculationRecommended Reading by Warren Buffet in his March 2013 Letter to Shareholders How speculation has come to dominate investment a hard hitting look from the creator of the first index fund. Over the course of his sixty year career in the mutual fund industry, Vanguard Group founder John C. Bogle has witnessed a massive shift in the culture of the financial sector. The prudent, value adding culture of long term investment has been crowded out by an

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