Book : The Four Pillars Of Investing Lessons For Building A.

-Titulo Original : The Four Pillars Of Investing Lessons For Building A Winning Portfolio

-Fabricante :

McGraw Hill

-Descripcion Original:

The classic guide to constructing a solid portfolio without 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 Bernstein’s commonsense approach to portfolio construction has served investors well during the past turbulent decade and it’s 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 today’s 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 blendThe dangers of actively picking stocks, as opposed to investing in the whole marketBehavioral finance and how state of mind can adversely affect decision makingReasons the mutual fund and brokerage industries, rather than your partners, are often your most direct competitorsStrategies for managing all of your assets savings, 401(k)s, home equity as one portfolioInvesting 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. From the Publisher William J. Bernstein, Ph.D., M.D., is a neurologist and the cofounder of the investment management firm Efficient Frontier Advisors. He is the author of three finance books The Intelligent Asset Allocator, The Four Pillars of Investing, and The Investor’s Manifesto and two volumes of economic history, The Birth of Plenty and A Splendid Exchange. Bernstein is currently working on a history book exploring the effects of access to technology on human relations and politics. From the Back Cover Since its initial publication, The Four Pillars of Investing has become a staplefor the independent-minded investor looking to make better-informedinvestment decisions. Written by noted financial expert and neurologistWilliam Bernstein, this time-honored investing guide provides the knowledgeand tools for achieving long-term profitability.Bernstein bridges the four fundamental topics successful investors use to generateexceptional profits on a consistent basis:The Theory of Investing: “Do not expect high returnswithout 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 era’sconventional wisdom and assume that it is wrong.More often than not, it is.”The Business of Investing: “The stockbroker serviceshis clients in the same way that Bonnie and Clydeserviced banks.”From the essential soundness of classic portfolio theory through the inherent wisdomof investing in multiple asset classes, The Four Pillars of Investing providesa distinctive blend of market history, investing theory, and behavioral finance tohelp you become a successful, self-sufficient investor. About the Author William J. Bernstein, Ph.D., M.D., is a neurologist and the cofounder of the investment management firm Efficient Frontier Advisors. He is the author of three finance books T