The Elements of InvestingHardback
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- Publisher: John Wiley & Sons Ltd
- Format: Hardback | 176 pages
- Dimensions: 132mm x 180mm x 20mm | 227g
- Publication date: 12 January 2010
- Publication City/Country: Chichester
- ISBN 10: 0470528494
- ISBN 13: 9780470528495
- Sales rank: 279,492
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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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 .
Back cover copy
Praise for The Elements Of Investing"These noted authors have distilled all you need to know about investing into a very small package. The best time to read this book is when you turn eighteen (or maybe thirteen) and every year thereafter." --Harry Markowitz, Nobel Laureate in Economics 1990"Struggling to find money to save? Befuddled by the bewildering array of investment choices? As you venture into the financial markets for the first time, it's helpful to have a trusted guide--and, in Charley Ellis and Burt Malkiel, you have two of the finest." --Jonathan Clements, author of "The Little Book of Main Street Money""No one knows more about investing than Charley Ellis and Burt Malkiel and no one has written a better investment guide. These are the best basic rules of investing by two of the world's greatest financial thinkers." --Consuelo Mack, Anchor and Managing Editor, "Consuelo Mack WealthTrack"
In his classic book The Elements of Style, Professor William Strunk Jr. whittled down the art of powerful writing to a few basic rules. Forty years later, E.B. White initiated a revision, and thus The Elements of Style became known as Strunk & White. Following this same format, authors Charles Ellis and Burton Malkiel, two of the investment world's greatest thinkers, have combined their talents to produce The Elements of Investing--a short, straight-talking book about investing and saving that will put you on a path towards a lifetime of financial success.The Elements of Investing lays to rest the popular shibboleths that undergird the hyperactive trading of the average investor. In it, Malkiel and Ellis skillfully focus their message to address the essentials and offer a set of simple, but powerful thoughts on how to avoid Mr. Market and his "loser's game," and instead enjoy the "winner's game" approach to investing.All the investment rules and principles you need to know are here--with clear advice on how to follow them. In just two hours of reading time, you will learn all you need to know to be truly successful in investing. Divided into five essential elements of investing, this little book packs a big message that can help secure your financial future all the way through retirement. Topics touched upon include: Diversifying broadly over different types of securities with low-cost "total market" index funds and different asset types--and why this is importantFocusing on the long term instead of following market fluctuations that are likely to lead to costly investing mistakesUsing employer-sponsored plans to supercharge your savings and minimize your taxesAnd much, much moreA disciplined approach to investing, complemented by understanding, is all you need to enjoy success. This practical guide explains what you really need to know and puts you on the right course for long-term success through all kinds of markets.
Table of contents
Foreword. Introduction. It All Starts with Saving. I. Save. First Do No Harm. Start Saving Early: Time Is Money. The Amazing Rule of 72. Savvy Savings. Small Savings Tips. Big Ways to Save. Let the Government Help You Save. Own Your Home. How Do I Catch Up? II. Index. Nobody Knows More Than the Market. The Index Fund Solution. Don't Some Beat the Market? Index Bonds. Index Internationally. Index Funds Have Big Advantages. One Warning. Confession. III. Diversify. Diversify Across Asset Classes. Diversify Across Markets. Diversify Over Time. Rebalance. IV. Avoid Blunders. Overconfidence. Beware of Mr. Market. The Penalty of Timing. More Mistakes. Minimize Costs. V. Keep It Simple. Review of Basic Rules. Asset Allocation. Asset Allocation Ranges. Investing in Retirement. KISS Investing A Super Simple Summary. Appendix: Save on Taxes Legally. Individual Retirement Accounts (IRAs). Roth IRAs. Pension Plans. Tax-Advantaged Saving for Education. Recommended Reading. Acknowledgments. About the Authors. Index.