Supermoney
Adam Smith · John C. Bogle
Jul 2020 · Gildan Media · Narrated by Adam Zink
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8 hr 48 min
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About this audiobook
Supermoney focuses on the organizational and institutional impact of money and how it moves through society. "The green stuff in your wallet is not the real money," writes "Smith." There is a superior currency which Smith christens "Supercurrency" -- income that has been sent through the prism of the markets. Between the earners of income and the holders of the Supercurrency is a tremendous gap -- one that leads people instinctively to the market. All investors need to learn the nature of the Supercurrency. Its power has bent the course of American business and even the seemingly precise numbers of accounting. Supermoney recounts the crisis weekends in 1970 when the market mechanism barely survived and the markets melted down. Some of the basic questions that were debated at the time are still considered: can money really be managed? can funds perform? what happens to individuals in a market dominated by professionals? was the idea that things would get better and better a phenomenon of a particular time. All this is told in the light, bright, funny style 'Adam Smith' has been renowned for four decades.
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Anil Das
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May 23, 2022
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About the author
John Clifton Bogle was born in Montclair, New Jersey on May 8, 1929. He received a bachelor's degree in economics from Princeton University in 1951. After graduation, he was hired by the Wellington Fund, a Philadelphia-based fund management company. He was named president of Wellington in 1967. He founded the Vanguard Group of Investment Companies in 1974. In 1976, he founded the Vanguard Index Trust, the first index fund for individual investors. In 1977, he started selling mutual funds directly to investors rather than through brokers, thus eliminating the sales fees. He officially stepped down as chief executive of Vanguard in January 1996 and remained as chairman until the end of 1999. He wrote several books including Bogle on Mutual Funds, Common Sense on Mutual Funds, and The Clash of the Cultures: Investment vs. Speculation. He died from esophageal cancer on January 16, 2019 at the age of 89.
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