The Four Pillars of Investing: Lessons for Building a Winning Portfolio |
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| Title: | The Four Pillars of Investing: Lessons for Building a Winning Portfolio |
| Author: | William J. Bernstein |
| Publisher: | McGraw-Hill |
| Type: | Book / Hardcover |
| Publication Date: | 26 April, 2002 |
| ISBN / ISBN-13: | 0071385290 / 9780071385299 |
| List Price: | $29.95 |
| You Save: | $10.18 |
| Amazon Price: | $19.77 |
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This book is also available, brand-new, from 3rd-party marketplace sellers at Amazon.com, from $15.70.
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Editorial Review / Publisher's Information:
Product Description
Sound, sensible advice from a hero to frustrated investors everywhere William Bernstein's The Four Pillars of Investing gives investors the tools they need to construct top-returning portfolioswithout the help of a financial adviser. In a relaxed, nonthreatening style, Dr. Bernstein provides a distinctive blend of market history, investing theory, and behavioral finance, one designed to help every investor become more self-sufficient and make betterinformed investment decisions. The 4 Pillars of Investing explains how any investor can build a solid foundation for investing by focusing on four essential lessons, each building upon the other. Containing all of the tools needed to achieve investing success, without the help of a financial advisor, it presents: - Practical investing advice based on fascinating history lessons from the market
- Exercises to determine risk tolerance as an investor
- An easy-to-understand explanation of risk and reward in the capital markets
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Customer Reviews:
• Great Boook
02 December, 2009
Excellent Book. This is the book I recommend to all people who are just learning about investing. It really provides solid advice on what asset classes to invest in and how to properly allocate your money. It also provides a little investor psychology and history that will give one confidence in times of ugly bear markets. I do not happen to agree with everything Dr Bernstein says. I strongly believe that an investor who can devote considerable time to investing and takes a value investing approach can beat the market. However for the 99.9% of people who do not fit this criteria they should only buy low cost index funds from Vanguard as the book suggests. I wrote an article on asset allocation and I recommended this book as the number one book for a new investor. You can see my article on the link below:
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- Amazon Customer Review
• Great Perspective
11 January, 2010
The book takes a long term perspective. It analyzes various scenarios on a long term basis. The logic is very clear in terms of analyzing patterns over long time intervals. The author makes his case very well to invest on a broad based index funds. He also emphasizes the lopsided market of investment advisers and financial services companies.
Overall a very good book.
- Amazon Customer Review
• I Don't Believe In The Philosophy But Still Found This Book Interesting
13 August, 2009
While I do not follow or believe in the investment philosophy presented in this book, I still found this book educational. I appreciated how the author described the business of investing. In this section, he wrote about brokers, mutual funds, and the press. While these three perform different functions, he said:
"...their operations and strategies are somewhat different, but their ultimate goal is the same: to transfer as much of your wealth to their ledger books as they can."
I cannot overemphasize the importance for investors to understand the business of investing. Investing and the business of investing are two different things.
I also liked the section of when the author explained how Vanguard revolutionized the mutual fund industry.
"Vanguard became the first, and only, truly `mutual' fund company-that is, owned by its shareholders. There was, therefore, no incentive to mild the investors, as generally happened in the rest of the investment industry, because the funds' shareholders were also Vanguard's owners. The only imperative of this system was to keep costs down."
- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
- Amazon Customer Review
• Financial Investing
26 January, 2010
Bernstein did a great job! Working in the financial industry for several years, this was a great book to refer to others. My hubby and I use these lessons in our investing strategy. Beware, the first chapter is a tough one to get through, but you'll sail through the others.
- Amazon Customer Review
• Great Investment Book
02 February, 2010
After reading other reviews, I had to give this book a try. Other reviews are spot on. I was so impressed with this book, I ended up purchasing "The Investor's Manifesto" also by William Bernstein. Highly recommended.
- Amazon Customer Review
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