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Hardcover. Pub Date: 2012 08 Pages: 353 Publisher: Wiley How speculation has Come to dominate investment-a hard-hitting Look from the creator of the first index fund.Over of 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 aggressive. value-destroying culture of short-term speculation. Mr. Bogle has not been merely an eye-witness to these changes. but one of the financial sector s most active participants. In The Clash of the Cultures. he urges a return to the common sense principles of long-term investing. Provocative and refreshingly candid. this book discusses Mr. Bogle s views on the changing culture in the mutual fund industry. how speculation has invaded our nation...