The Elements of Investing: Easy Lessons for Every Investor

ISBN-13: 9781119851417 / Angielski / Miękka / 2021 / 160 str.

Burton G. Malkiel; Charles D. Ellis

Spis treści

Preface to Anniversary Edition xiForeword to Original Edition xvForeword to the Anniversary Edition xixIntroduction xxiIt All Starts with Saving 1I. Save 3First Do No Harm 5Start Saving Early: Time is Money 6The Amazing Rule of 72 7Savvy Savings 11Small Savings Tips 14Big Ways to Save 15Let the Government Help You Save 17Own Your Home 18How Do I Catch Up? 19II. Index 23Nobody Knows More Than the Market 24The Index Fund Solution 27Don't Some Beat the Market? 29Index Bonds 33Index Internationally 34Index Funds Have Big Advantages 36One Warning 37Confession 39III. Diversify 41Diversify Across Asset Classes 43Diversify Across Markets 46Diversify Over Time 47Rebalance 51IV. Avoid Blunders 57Overconfidence 59Beware of Mr. Market 61The Penalty of Timing 65More Mistakes 66Minimize Costs 67V. Keep It Simple 71Review of Basic Rules 72Asset Allocation 79Asset Allocation Ranges 81Investing in Retirement 85Getting Specific 86VI. Timeless Lessons for Troubled Times 95Volatility and Dollar-Cost Averaging 97Diversification is Still a Time-Honored Strategy to Reduce Risk 99Rebalancing 101Diversification and Rebalancing Together 103Index at Least the Core of Your Portfolio 104Fine-Tuning a Bond Diversification Strategy 107A Final Thought 111A Super Simple Summary: KISS Investing 113Appendix: Save on Taxes Legally 115Individual Retirement Accounts (IRAs) 115Roth IRAs 117Pension Plans 118Tax-Advantaged Saving for Education 120Recommended Reading 123Acknowledgments 125About the Authors 127Index 129

O autorze

BURTON G. MALKIEL is the Chemical BankChairman's Professor of Economics Emeritus 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. He is currently the Chief Investment Officer of Wealthfront.CHARLES D. ELLIS is a consultant to large public and private institutional investors. For three decades, he was managing partner of Greenwich Associates, the international business strategy consulting firm. He has taught investing at both Harvard and Yale and is the author of seventeen books, including the bestselling Winning the Loser's Game.