Burton G. Malkiel, Charles D. Ellis

The Elements of Investing (eBook, PDF)

• Format: PDF

Produktbeschreibung

A timeless, easy-to-read guide on life-long investment principles that can help any investor succeed The Elements of Investing has a single-minded goal: to teach the principles of investing in the same pared-to-bone manner that Professor William Strunk Jr. once taught composition to students at Harvard, using his classic little book, The Elements of Style. With great daring, Ellis and Malkiel imagined their own Little Red Schoolhouse course in investing for every investor around the world-and then penned this book. The Elements of Investing hacks away at all the overtrading and over thinking so predominant in the hyperactive thought patterns of the average investor. Malkiel and Ellis offer investors a set of simple but powerful thoughts on how to challenge Mr. Market at his own game, and win by not losing. All the need-to-know rules and investment principles can be found here. * Contains sound investment advice and simple principles of investing from two of the most respected individuals in the investment world * Burton G. Malkiel is the bestselling author of A Random Walk Down Wall Street and Charles D. Ellis is the bestselling author of Winning the Loser's Game * Shows how to deal with an investor's own worst enemies: fear and greed A disciplined approach to investing, complemented by conviction, is all you need to succeed. This timely guide will help you develop these skills and make the most of your time in today's market.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 176
• Erscheinungstermin: 11. Januar 2010
• Englisch
• ISBN-13: 9780470585481
• Artikelnr.: 37297586

Autorenporträt

Burton G. Malkiel is the Chemical Bank Chairman's Professor of Economics at Princeton University and the author of the bestselling A Random Walk Down Wall Street. Malkiel has served on the President's Council of Economic Advisers, as Dean of the Yale School of Management, as Chair of Princeton's Economics Department, and as a director of major corporations. Charles D. Ellis is a consultant to large public and private institutional investors. He was for three decades managing partner of Greenwich Associates, the international business strategy consulting firm. He serves as Chair of Whitehead Institute and as a director of Vanguard and the Robert Wood Johnson Foundation. He has taught investing at both Harvard and Yale and is the author of 15 books, including the bestselling Winning the Loser's Game.

Inhaltsangabe

Preface to Anniversary Edition xi

Foreword to Original Edition xv

Foreword to the Anniversary Edition xix

Introduction xxi

It All Starts with Saving 1

I. Save 3

First Do No Harm 5

Start Saving Early: Time is Money 6

The Amazing Rule of 72 7

Savvy Savings 11

Small Savings Tips 14

Big Ways to Save 15

Let the Government Help You Save 17

Own Your Home 18

How Do I Catch Up? 19

II. Index 23

Nobody Knows More Than the Market 24

The Index Fund Solution 27

Don't Some Beat the Market? 29

Index Bonds 33

Index Internationally 34

Index Funds Have Big Advantages 36

One Warning 37

Confession 39

III. Diversify 41

Diversify Across Asset Classes 43

Diversify Across Markets 46

Diversify Over Time 47

Rebalance 51

IV. Avoid Blunders 57

Overconfidence 59

Beware of Mr. Market 61

The Penalty of Timing 65

More Mistakes 66

Minimize Costs 67

V. Keep It Simple 71

Review of Basic Rules 72

Asset Allocation 79

Asset Allocation Ranges 81

Investing in Retirement 85

Getting Specific 86

VI. Timeless Lessons for Troubled Times 95

Volatility and Dollar-Cost Averaging 97

Diversification is Still a Time-Honored Strategy to Reduce Risk 99

Rebalancing 101

Diversification and Rebalancing Together 103

Index at Least the Core of Your Portfolio 104

Fine-Tuning a Bond Diversification Strategy 107

A Final Thought 111

A Super Simple Summary: KISS Investing 113

Appendix: Save on Taxes Legally 115

Individual Retirement Accounts (IRAs) 115

Roth IRAs 117

Pension Plans 118

Tax-Advantaged Saving for Education 120

Recommended Reading 123

Acknowledgments 125

About the Authors 127

Index 129