IN WRITING THIS BOOK, I have received incredibly wonderful support from the entire (three-person) staff of the Bogle Financial Markets Research Center, the Vanguard-supported unit that began its formal activities at the beginning of 2000.

I’ll begin with special thanks to Michael W. Nolan Jr., senior investment analyst and researcher, my partner, and sometimes my conscience. Mike has ably served at my side for six years now, part of his 16-year Vanguard career. Mike has done just about everything but actually write this book—researching subjects, developing data, checking sources, helping to edit the text, and working with the publisher. He has done it not only with excellence but with an equanimity and sense of humor that have to be seen to be believed.

Emily Snyder, my executive assistant for 27 years now (and with 32 years of service on the Vanguard crew), has carried much of the burden of putting my scrawled notes together into a beautifully rendered typescript, and done so with extraordinary skill, steadfast finesse, and unfailing good humor. While I think she winced when I told her that, yes, I’d be writing my eleventh book, she patiently carried me through the usual eight or so edits that I can’t help myself from doing—all in the pursuit of a clear, accurate, logical, and reader-friendly text.

Kathy Younker is new to our little group, but she did her share of endless typing and retyping, adjusting the rhythm of my writing to the frantic pace of our activity, also with remarkable skill, patience, and good humor.

I should note that I take full responsibility for the strong opinions expressed in this Little Book. These opinions do not necessarily represent the opinions of the present management of Vanguard.

I remain deeply dedicated to Vanguard and our crew members, and continue to “press on, regardless” in the furtherance of the values that I invested in the firm when I founded it in 1974, and during the 25 years in which I served as chief executive, then chairman, and then senior chairman.

JOHN C. BOGLE