Common Sense on Mutual Funds is written by John C. Bogle who is well known in the business world as the founder of Vanguard and also the person who brought the first index mutual fund into the world.
In this book, Mr. Bogle brings up points that are vital for the individual investor. He argues successfully that COST MATTERS. The fees that an actively managed fund in this day and age have been excessively high and as a result the investor is not given a fair share of the market return. Mr. Bogle also brings up the topic about taxes, which in the fund industry, has been kept quiet.
Overall, I enjoyed this book as it provides a close look at the fundamentals of mutual funds. The inefficiencies of mutual funds are pointed out and advice that Mr. Bogle provide to counter them are priceless.