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Home > Business & Economics > Finance & Accounting > The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between
The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between
by Bernstein, William J.
Accepting orders. Per publisher request, title available for download 02-01-2010.
 
 
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The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between

A timeless approach to investing wisely over an investment lifetime

With the current market maelstrom as a background, this timely guide describes just how to plan a lifetime of investing, in good times and bad, discussing stocks and bonds as well as the relationship between risk and return.

Filled with in-depth insights and practical advice, The Investor's Manifesto will help you understand the nuts and bolts of executing a lifetime investment plan, including: how to survive dealing with the investment industry, the practical meaning of market efficiency, how much to save, how to maintain discipline in the face of panics and manias, and what vehicles to use to achieve financial security and freedom.

  • Written by bestselling author William J. Bernstein, well known for his insights on how individual investors can manage their personal wealth and retirement funds wisely
  • Examines how the financial landscape has radically altered in the past two years, and what investors should do about it
  • Contains practical insights that the everyday investor can understand
  • Focuses on the concept of Pascal's Wager-identifying and avoiding worst-case scenarios, and planning investment decisions on that basis

With The Investor's Manifesto as your guide, you'll quickly discover the timeless investment approaches that can put you in a better position to prosper over time.



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Title of ebook: The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between
ISBN: 9780470558102
parent-ISBN: 9780470505144
Publisher: Wiley
Pages: 208
Published: 02-2010
Released online for download: 02-01-2010
Author of eBook: Bernstein, William J.

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The Investor's Manifesto

Preparing for Prosperity, Armageddon, and Everything in Between

Chapter One

A Brief History of Financial Time

Many of life's deepest questions, I have found, get asked over lunch.

This particular midday meal occurred in 2000 at a Chinese restaurant in Manhattan, and my companion was a well-known hedge-fund manager and contributor to the academic finance literature. We puzzled, as did many in finance at the time, over the historically high prices of stocks.

"What I cannot figure out," my friend began, "is whether investors are really smart or really stupid." Seeing my puzzled expression, he continued, "Maybe the equity risk premium is still high, in which case prices will mean revert, which means that stock investors are really stupid. Alternatively, the equity risk premium has gotten a lot lower in the past 10 years, in which case prices will not mean revert, which means stock investors are really smart." Just what did he mean, and why was his question so important?

Since my friend is really smart and has w ... read full excerpt from: The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between ebook



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