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It Bogles the Mind

Our renaissance woman-commentator Judith Ellis recently mentioned Vanguard Mutual Fund Group founder John Bogle's Enough. The Measures of Money, Business, and Life. Judith's reference led me to add the 79-year-old Mr. Bogle's opus to my bookshelf. I will simply say that it is one of the best business books ("life" books?) I have ever read, an easy All-time Top 10. And its timing is, well, read it yourself ...

Rather than spend several sentences summarizing the short-but-very-sweet-and-very lucid tome, I'll let the brilliant chapter titles do the work for me. Here's a sample:

"Too Much Cost, Not Enough Value"
"Too Much Speculation, Not Enough Investment"
"Too Much Complexity, Not Enough Simplicity"
"Too Much Counting, Not Enough Trust"
"Too Much Business Conduct, Not Enough Professional Conduct"
"Too Much Salesmanship, Not Enough Stewardship"
"Too Much Focus on Things, Not Enough Focus on Commitment"
"Too Many Twenty-first Century Values, Not Enough Eighteenth-Century Values"
"Too Much 'Success,' Not Enough Character"

As to the overarching theme captured by the book's title, "Enough," Mr. Bogle begins with this vignette:

"At a party given by a billionaire on Shelter Island, Kurt Vonnegut informs his pal, Joseph Heller, that their host, a hedge fund manager, had made more money in a single day than Heller had earned from his wildly popular novel Catch-22 over its whole history. Heller responds, 'Yes, but I have something he will never have … enough.'"

Amen!
And thank you, John Bogle!
(And Judith Ellis.)

Tom Peters posted this on 12/08/08.

Comments

Perhaps I have to read the book(!) - but I am very curious about the not enough 18th C values -
What was specifically great about the 18thC in values terms?

Blast! - that has set me thinking (which means it's going to be hard to concentrate for the rest of the day!)

Posted by PaulH at December 8, 2008 10:46 AM

What beautiful words for such a book that has a "short-but-very-sweet-and-very lucid tome" which is most certainly "one of the best business books ("life" books?) I have ever read, an easy All-time Top 1," FOR SURE!

Enough has restored my faith immeasurably in this time of uncertainty. The new is great; the old can be still magnanimous, life-altering, and whole. John Bogle does not say anything new. He just reminds us of who we once were and who we can yet be.

If you're reading, thank you, Mr. Bogle, so very much. Enough is one that I carry along with me in my cache for sweet remembrance. I'll have it memorized in no time. :-)

By the way, I love the post title!

Posted by Judith Ellis at December 8, 2008 10:53 AM

Judith, I seriously doubt that I was first with the post title, but it did come from the ethers.

Posted by tom peters at December 8, 2008 11:42 AM

Ethers are omnipresent, TP.

Posted by Judith Ellis at December 8, 2008 12:16 PM

Judith and Tom - Thanks for the recommendation. This Chapter title alone is enough for me to buy the book: "Too Much Complexity, Not Enough Simplicity"

Posted by Trevor Gay at December 8, 2008 1:53 PM

My guess is that 18th Century values are those espoused in Benjamin Franklin's Poor Richard's Almanac.

Posted by Mike L. at December 8, 2008 2:27 PM

This post, and the times, have lead me to ponder a few questions. Discussions with colleagues leave me wondering how value is at risk. Value of oil, value of Detroit, value of stock.

What defines value?

How is it assigned? By whom?

What can we as business leaders do to promote, embody, and retain value as the economy contiunes to storm?

And one thing keeps coming back to me--integrity. Value is created by our faith in the integrity of the provider, the product, the company. Value doesn't cost, it pays. Every little way we can add excellence to our processes from conception to the customer adds integrity. The basics never change.

Blue skies,

Lark

Posted by Lark at December 8, 2008 3:42 PM

Lark - Thank you so very much for such wonderful words that I will practice more daily. Blue skies reminds me of an Ella Fitzgerald tune that I love. Thanks also for this reminder.

Posted by Judith Ellis at December 8, 2008 3:57 PM

And Ellis - "renaissance" & $10 gets you a $5 Starbucks latte plus tip - the last renaissance for neoliberal Tom was Carly who tanked HP stock 50% then was fired! :>)

PS - "Detroit" bailout still means it shrinks 50% so local real estate recovers maybe by 2025 - why not drive an Ontario Lexus and US made BMW like those who love to invest strategically?! :>)

Posted by Rahib at December 8, 2008 6:32 PM

Bogles the Mind - the Sequel:

Had Tom been born even 1/4 black like Tiger - he would either with 1st lady Susan - a. be coming out of a 2 term US presidency - or b. be going into his 1st term as President of the free world

- given his incredible oratory skills, true record of amazing accomplishments & military service & magnificient creativity - rather than the Obama-lite we are getting - & that from a -lite fan!

So - Tom - being born 100% non Hispanic Caucasian (AKA White) wasn't a perfect blessing for you like you claim! :>)

Posted by Rahib at December 8, 2008 7:16 PM

Rahib: Do you have a decoder ring for those of us uninitiated in your posting style? Many thanks.

Posted by David Porter at December 8, 2008 7:50 PM

Mike L - What great quotes in Franklin's Poor Richard's Almanac. I just posted one on my blog: "Drive your business! Let not that drive thee." Now, to live by them. Thanks for posting that.

Posted by Judith Ellis at December 8, 2008 8:41 PM

Simplicty as a mantra is simplistic, complex IT often supports this business need, the ideas may indeed be simple, the approach, the busines, the way of thinking, but to support this requires people who understand the complexity of the solution to support this simplicity, I like the title have had enough of my customers thinking world class simplicity is just that simple, it isn't.

buying viagra online to australia You shouldn't delude yourself that it is simple, the challenge is can you deliver it at the speed of thought!

Posted by Patrick at December 9, 2008 6:06 AM

Bravo, Patrick! And, it's nice to see sentences from you, though your often two-liners are very thoughtful indeed. Thanks!

Posted by Judith Ellis at December 9, 2008 6:20 AM

Judith, thanks, I am convinced there are a whole army of Judith's out there monitoring the world's blog's. If I don't get chance Happy Christmas and a sparkling 2009.

The Brevity thing recently was in response to the length of some of the comments, we should have a christmas six word challenge again me thinks!

Patrick

Posted by patrick at December 9, 2008 7:00 AM

Funny, Patrick. But me thinks I need a brief explanation: "monitoring the world's blogs?" Regarding the challenge, I'd be down with that for sure! You may be surprised. Some may give you a run for your money!

Posted by Judith Ellis at December 9, 2008 7:31 AM

And...a Merry Christmas and Sparkling New Year to you too!

Posted by Judith Ellis at December 9, 2008 7:32 AM

"last renaissance for neoliberal Tom was Carly who tanked HP stock 50% then was fired! :>)"

HP is doing brilliantly, and Mark Hurd has done a phenomenal job at operations. But does anyone in their right mind think there'd have been an HP to have saved without the Compaq aquiition or the shift to consumer sensibilities that were 100.000000% Carly??? (Carly changed an entrenched culture, the likes of Welch and Gerstner revived sleeping cultures.)

Posted by tom peters at December 9, 2008 9:43 AM

"Carly???" - a scarecrow could have done better - the Board changed the culture & then fired her.

Posted by Contraire at December 24, 2008 6:48 PM