The clash of the cultures -- The double-agency society and the happy conspiracy -- The silence of the funds : why mutual funds must speak out on the governance of our nation's corporations -- The "mutual" fund culture : stewardship gives way to salesmanship -- Are fund managers true fiduciaries? : the "stewardship quotient" -- The index fund : the rise of the fortress of long-term investing and its challenge from short-term speculation -- America's retirement system : too much speculation, too little investment -- The rise, fall, and the renaissance of Wellington Fund : a case study : investment wins, speculation loses -- Ten simple rules for investors and a warning for speculators -- Appendix I. Performance ranking of major mutual fund managers : March 2012 -- Appendix II. Annual performance of common stock funds versus S&P 500, 1945-1975 -- Appendix III. Growth in index funds : number and assets, 1976-2012 -- Appendix IV. Wellington Fund record, 1929-2012 -- Appendix V. Wellington Fund equity ratio and risk exposure (beta), 1929-2012 -- Appendix VI. Wellington Fund performance versus average balanced fund, 1929-2012 -- Appendix VII. Wellington Fund expense ratios, 1966-2011.