Grow your wealth and invest with confidence and know-how using this simple, ten-question framework from investing guru and podcast host David Stein You understand the basics of investing. Now it's time to invest like a professional for greater profits. Money for the Rest of Us offers a ten-question template that helps you decide which asset classes and investment vehicles you should pursue in greater depth in order to improve investment performance and avoid costly mistakes. Providing a templated framework based on ten basic questions, it guides you through the process of: .Determining…mehr
Grow your wealth and invest with confidence and know-how using this simple, ten-question framework from investing guru and podcast host David Stein You understand the basics of investing. Now it's time to invest like a professional for greater profits. Money for the Rest of Us offers a ten-question template that helps you decide which asset classes and investment vehicles you should pursue in greater depth in order to improve investment performance and avoid costly mistakes. Providing a templated framework based on ten basic questions, it guides you through the process of: .Determining expected return .Understanding the difference between investing, speculating, and gambling .Building a diversified portfolio without getting bogged down in the minutiae of Modern Portfolio Theory .Deciding when to invest in ETFs or other investment vehicles .Determining whether gold, cryptocurrencies, rental real estate, or other types of investments make sense .And much more
David Stein was Chief Investment Strategist and Chief Portfolio Strategist at Fund Evaluation Group, LLC, a $70 billion investment advisory firm, where he co-headed the 21-person research group. His weekly podcast on investing and the economy, "Money for the Rest of Us," reaches more than 40,000 listeners per episode and has been mentioned in The New York Times, the Chicago Tribune, U.S. News and World Report, and Forbes.
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ACKNOWLEDGMENTS INTRODUCTION Making Investment Mistakes Is Normal You Are a Portfolio Manager A Different Kind of Investing Book What You Will Learn 1 WHAT IS IT? If We Can't Explain an Investment, Then We Shouldn't Invest The Primary Reason to Buy an Individual Stock If You Can't Explain It, Don't Invest Who Is Selling It? We May Not Know as Much as We Think Dealing with Unknowns Complex Adaptive Systems Reacting to Available Information Why Accurately Predicting the Future Is So Difficult Investing on the Leading Edge of the Present The Math and Emotion of Investing An Investing Framework Chapter Summary 2 IS IT INVESTING, SPECULATING, OR GAMBLING? A Simple Filter for Segmenting the Investing Universe What Is Investing? What Is Speculating? Attempting to Day-Trade What Is Gambling? Chapter Summary 3 WHAT IS THE UPSIDE? Rules of Thumb for Estimating Investment Returns A Flawed Financial Plan Rules of Thumb Estimating Bond Returns Estimating Stock Returns How to Estimate Returns in Your Portfolio A More Reasonable Financial Plan Chapter Summary 4 WHAT IS THE DOWNSIDE? Rules of Thumb for Evaluating Risk Navigating the Global Financial Crisis What Is Risk? Maximum Drawdowns and Recoveries The Potential Devastating Impact of Large Portfolio Losses Why Assets Fall in Price How to Manage Risk in Your Portfolio Chapter Summary 5 WHO IS ON THE OTHER SIDE OF THE TRADE? Evaluating What the Seller Knows About an Investment With Whom Are You Trading? Financial Markets Are Increasingly More Competitive Active Manager Underperformance Are Markets Efficient? Adaptive Markets How to Balance Active and Passive Investing in Your Portfolio Chapter Summary 6 WHAT IS THE INVESTMENT VEHICLE? Evaluating Exchange-Traded Funds, Mutual Funds, and Other Investment Securities Applying the Investment Framework Evaluating Investment Vehicles Closed-End Funds Exchange-Traded Funds Chapter Summary 7 WHAT DOES IT TAKE TO BE SUCCESSFUL? Identifying What Drives Investment Outcomes Wayfinding Return Drivers Dividend Investing Market Conditions Multiple Return Drivers Chapter Summary 8 WHO IS GETTING A CUT? Managing Fees and Taxes Types of Investment Expenses Managing Investment Fees Retaining a Financial Advisor Taxes Rebalancing Your Portfolio Inflation and Asset Allocation How to Manage Investment Costs in Your Portfolio Chapter Summary 9 HOW DOES IT IMPACT YOUR PORTFOLIO? Asset Allocation Asset Allocation Using Modern Portfolio Theory The Asset Garden Approach to Asset Allocation International Stocks and Bonds Fundamental Indexing How to Allocate Assets in Your Portfolio An Alternative Approach Chapter Summary 10 SHOULD YOU INVEST? Applying the Investment Framework Dollar-Cost Averaging Position Size Market Timing Versus Risk Management Economic Trends Socially Responsible Investing Piecemeal Portfolio Managers Chapter Summary CONCLUSION GLOSSARY BIBLIOGRAPHY NOTES INDEX
ACKNOWLEDGMENTS INTRODUCTION Making Investment Mistakes Is Normal You Are a Portfolio Manager A Different Kind of Investing Book What You Will Learn 1 WHAT IS IT? If We Can't Explain an Investment, Then We Shouldn't Invest The Primary Reason to Buy an Individual Stock If You Can't Explain It, Don't Invest Who Is Selling It? We May Not Know as Much as We Think Dealing with Unknowns Complex Adaptive Systems Reacting to Available Information Why Accurately Predicting the Future Is So Difficult Investing on the Leading Edge of the Present The Math and Emotion of Investing An Investing Framework Chapter Summary 2 IS IT INVESTING, SPECULATING, OR GAMBLING? A Simple Filter for Segmenting the Investing Universe What Is Investing? What Is Speculating? Attempting to Day-Trade What Is Gambling? Chapter Summary 3 WHAT IS THE UPSIDE? Rules of Thumb for Estimating Investment Returns A Flawed Financial Plan Rules of Thumb Estimating Bond Returns Estimating Stock Returns How to Estimate Returns in Your Portfolio A More Reasonable Financial Plan Chapter Summary 4 WHAT IS THE DOWNSIDE? Rules of Thumb for Evaluating Risk Navigating the Global Financial Crisis What Is Risk? Maximum Drawdowns and Recoveries The Potential Devastating Impact of Large Portfolio Losses Why Assets Fall in Price How to Manage Risk in Your Portfolio Chapter Summary 5 WHO IS ON THE OTHER SIDE OF THE TRADE? Evaluating What the Seller Knows About an Investment With Whom Are You Trading? Financial Markets Are Increasingly More Competitive Active Manager Underperformance Are Markets Efficient? Adaptive Markets How to Balance Active and Passive Investing in Your Portfolio Chapter Summary 6 WHAT IS THE INVESTMENT VEHICLE? Evaluating Exchange-Traded Funds, Mutual Funds, and Other Investment Securities Applying the Investment Framework Evaluating Investment Vehicles Closed-End Funds Exchange-Traded Funds Chapter Summary 7 WHAT DOES IT TAKE TO BE SUCCESSFUL? Identifying What Drives Investment Outcomes Wayfinding Return Drivers Dividend Investing Market Conditions Multiple Return Drivers Chapter Summary 8 WHO IS GETTING A CUT? Managing Fees and Taxes Types of Investment Expenses Managing Investment Fees Retaining a Financial Advisor Taxes Rebalancing Your Portfolio Inflation and Asset Allocation How to Manage Investment Costs in Your Portfolio Chapter Summary 9 HOW DOES IT IMPACT YOUR PORTFOLIO? Asset Allocation Asset Allocation Using Modern Portfolio Theory The Asset Garden Approach to Asset Allocation International Stocks and Bonds Fundamental Indexing How to Allocate Assets in Your Portfolio An Alternative Approach Chapter Summary 10 SHOULD YOU INVEST? Applying the Investment Framework Dollar-Cost Averaging Position Size Market Timing Versus Risk Management Economic Trends Socially Responsible Investing Piecemeal Portfolio Managers Chapter Summary CONCLUSION GLOSSARY BIBLIOGRAPHY NOTES INDEX
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