Bogle On Mutual Funds: New Perspectives For The Intelligent Investor

Notes

Preface

• PP. xxix–xxxiii Sources of most mutual fund data are Lipper Analytical Services, Inc. and Morningstar Mutual Funds. In a few cases, data are provided by the Investment Company Institute and CDA/Wiesenberger Investment Companies Services.

Chapter 1

• P. 4 Total returns on cash reserves and common stocks 1872–1925 are from Cowles Commission; total returns on long-term bonds 1872–1925 are from Jeremy Siegel, Professor of Finance, The Wharton School of the University of Pennsylvania. All stock, bond, and bill returns 1926–92 are from Ibbotson Associates.

• P. 9 All data on price, reported earnings, and dividends for the Standard & Poor's 500 Stock Index are from Standard & Poor's Corporation.

• P. 10 Operating earnings for the companies that comprise the Standard & Poor's 500 Stock Index are from Goldman Sachs.

• P. 12 For simplicity, the components of total return are combined using simple addition. The actual formula for combining the components of total return is:

  (Initial yield) + [((1 + dividend growth rate) × (1 + multiple change)) − 1]

• The results under each method differ marginally.

• P. 16 All bond and bill yields are from Ibbotson Associates.

Chapter 2

• P. 25 Inflation rate 1872–1925 is from the Cowles Commission; inflation rate 1926–92 is from Ibbotson Associates.

Chapter 3

• P. 49 All data in Table 3–1 are from Upper Analytical Services, Inc. Fund categories determined by The Vanguard Group.

• P. 64 Data in Table 3–2 are from Morningstar Mutual ...