Four Pillars of Investing : Lessons for Building a Winning Portfolio

by Bernstein, William J.

• ISBN13: 9780071385299
• ISBN10: 0071385290
• Format: Hardcover
• Copyright: 2002-04-26
• Publisher: McGraw-Hill

Summary

This book presents an easy-to-follow, step-by-step program for achieving long-term investing success.

Author Biography

William Bernstein, Ph.D., M.D., has become a grassroots hero to independent investors everywhere. He has made a name for himself by questioning the value of Wall Street wisdom, skewering the recommendations of self-serving stockbrokers, and showing legions of investors how to successfully manage their own investments with intelligence and long-term vision. Bernstein is the author of The Intelligent Asset Allocator, editor of the quarterly asset allocation journal Efficient Frontier, founder of the popular website EfficientFrontier.com, and a principal in Efficient Frontier Advisors. He is often quoted in national publications, including The Wall Street Journal, Barron's, Money, and Forbes.

Table of Contents

Preface	vii
Introduction	xi
Pillar One: The Theory of Investing	1	(126)
No Guts, No Glory	3	(40)
Measuring the Beast	43	(32)
The Market Is Smarter Than You Are	75	(32)
The Perfect Portfolio	107	(20)
Pillar Two: The History of Investing	127	(36)
Tops: A History of Manias	129	(24)
Bottoms: The Agony and the Opportunity	153	(10)
Pillar Three: The Psychology of Investing	163	(26)
Misbehavior	165	(16)
Behavioral Therapy	181	(8)
Pillar Four: The Business of Investing	189	(38)
Your Broker Is Not Your Buddy	191	(12)
Neither Is Your Mutual Fund	203	(16)
Oliver Stone Meets Wall Street	219	(8)
Investment Strategy: Assembling the Four Pillars	227	(72)
Will You Have Enough?	229	(14)
Defining Your Mix	243	(38)
Getting Started, Keeping It Going	281	(14)
A Final Word	295	(4)
Bibliography	299	(6)
Index	305