Synopses & Reviews
The classic guide to constructing a solid portfolio with out a financial advisor! “With relatively little effort, you can design and assemble an investment portfolio that, because of its wide diversification and minimal expenses, will prove superior to the most professionally managed accounts. Great intelligence and good luck are not required.”
William Bernsteins commonsense approach to portfolio construction has served investors well during the past turbulent decadeand its what made The Four Pillars of Investing an instant classic when it was first published nearly a decade ago.
This down-to-earth book lays out in easy-to-understand prose the four essential topics that every investor must master: the relationship of risk and reward, the history of the market, the psychology of the investor and the market, and the folly of taking financial advice from investment salespeople.
Bernstein pulls back the curtain to reveal what really goes on in todays financial industry as he outlines a simple program for building wealth while controlling risk. Straightforward in its presentation and generous in its real-life examples, The Four Pillars of Investing presents a no-nonsense discussion of:
- The art and science of mixing different asset classes into an effective blend
- The dangers of actively picking stocks, as opposed to investing in the whole market
- Behavioral finance and how state of mind can adversely affect decision making
- Reasons the mutual fund and brokerage industries, rather than your partners, are often your most direct competitors
- Strategies for managing all of your assetssavings, 401(k)s, home equityas one portfolio
Investing is not a destination. It is a journey, and along the way are stockbrokers, journalists, and mutual fund companies whose interests are diametrically opposed to yours.
More relevant today than ever, The Four Pillars of Investing shows you how to determine your own financial direction and assemble an investment program with the sole goal of building long-term wealth for you and your family.
Synopsis
Since its initial publication,
The Four Pillars of Investing has become a staple for the independent-minded investor looking to make better-informed investment decisions. Written by noted financial expert and neurologist William Bernstein, this time-honored investing guide provides the knowledge and tools for achieving long-term profitability.
Bernstein bridges the four fundamental topics successful investors use to generate exceptional profits on a consistent basis:
- The Theory of Investing: “Do not expect high returns without risks.”
- The History of Investing: “About once every generation, the markets go barking mad. If you are unprepared, you are sure to fail.”
- The Psychology of Investing: “Identify the eras conventional wisdom and assume that it is wrong. More often than not, it is.”
- The Business of Investing: “The stockbroker services his clients in the same way that Bonnie and Clyde serviced banks.”
From the essential soundness of classic portfolio theory through the inherent wisdom of investing in multiple asset classes, The Four Pillars of Investing provides a distinctive blend of market history, investing theory, and behavioral finance to help you become a successful, self-sufficient investor.
Synopsis
The classic guide toconstructing a solid portfolio--with out a financial advisor
With relatively little effort, youcan design and assemble aninvestment portfolio that, becauseof its wide diversification and minimalexpenses, will prove superior to themost professionally managed accounts.Great intelligence and good luckare not required.
William Bernstein's commonsense approachto portfolio construction has served investorswell during the past turbulent decade--andit's what made The Four Pillars of Investing aninstant classic when it was first published nearlya decade ago.
This down-to-earth book lays out in easy-to-understandprose the four essential topics thatevery investor must master: the relationship ofrisk and reward, the history of the market, thepsychology of the investor and the market, andthe folly of taking financial advice from investmentsalespeople.
Bernstein pulls back the curtainto reveal what really goes on in today's financialindustry as he outlines a simple program forbuilding wealth while controlling risk.Straightforward in its presentation and generous inits real-life examples, The Four Pillars of Investingpresents a no-nonsense discussion of: The art and science of mixingdifferent asset classes into aneffective blendThe dangers of actively pickingstocks, as opposed to investingin the whole marketBehavioral finance and howstate of mind can adverselyaffect decision makingReasons the mutual fund andbrokerage industries, rather thanyour partners, are often yourmost direct competitorsStrategies for managing all of yourassets--savings, 401(k)s, homeequity--as one portfolio
Investing is not a destination. It is a journey, andalong the way are stockbrokers, journalists, andmutual fund companies whose interests are diametricallyopposed to yours.
More relevant today than ever, The Four Pillars ofInvesting shows you how to determine your ownfinancial direction and assemble an investmentprogram with the sole goal of building long-termwealth for you and your family.
Synopsis
A stunning and highly educational personal finance book aimed at everyone who has a financial advisor or has ever considered hiring one. This book will serve as your Rosetta Stone to interpreting financial jargon and will enable you to ask the tough questions to protect your money and your financial well-being.
Synopsis
A highly readable personal finance book that translates financial jargon and enables readers to ask the tough questions to protect their money and their financial well-being In todayandrsquo;s unsettled financial markets, where most pension plans died out with the twentieth century and where no oneandrsquo;s certain of the future of Social Security, hardworking people turn to financial advisors to guide them to a worry-free financial lifestyle. But do you really know how to find a legitimate financial advisor? Do you understand the jargon advisors use to explain your investments? And most important, do you know the answers to the most critical questions that will affect your financial future: how much are advisorsandrsquo; fees, and just how safe are the investment choices they make on your behalf?and#160;and#160;Now more than ever, you need to educate yourself to prepare for your future, whether itandrsquo;s buying a house, paying for college, or saving for retirement. Spending quality time with What Your Financial Advisor Isnandrsquo;t Telling You is the first step to getting on track.and#160;and#160;This book is a comprehensive guide to the essential unbiased information you need to make smart personal finance decisions and achieve total financial wellness.
About the Author
LIZ DAVIDSON, founder and CEO of Financial Finesse, is one of the nationandrsquo;s leading financial education experts. She has been profiled in national publications, radio broadcasts, and television shows, and maintains a Forbes blog. At twenty-eight, Davidson left a successful career running a hedge fund to establish a financial education firm that would provide the information people need to make sound financial decisions. Today, Financial Finesse is the countryandrsquo;s largest provider of unbiased financial wellness programs.andnbsp;She holds an MBA from the Anderson School of Business at UCLA.