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 iThe 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 audio 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 a few hours of listening time, you will learn all you need to know to be truly successful in investing. Divided into five essential elements of investing this little audio book packs a big message that can help secure your financial future all the way through retirement.
A 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.
©2009 Burton G. Malkiel, Charles D. Ellis; (P)2010 Gildan Media Corp
"These noted authors have distilled all you need to know about investing into a very small package. The best time to listen to this audio book is when you turn eighteen (or maybe thirteen) and every year thereafter." (Harry Markowitz, Nobel Laureate in Economics 1990)
Didn't think you could distill just about everything you need to know, along with what you must ignore about investing, in one thin book, but they did it.
Folks should read it, and then read it again. Just to ensure that the key points stick.
I think this book was good. but it really should be marketed for teenagers. These I think are things that most adults already know. I can give you a brief summary and save you 13$ or an audible credit:
-Invest early in life
-When you're younger invest mostly in stocks, then as you get older, progressively invest in bonds.
-Diversify your portfolio,
-Invest in index funds
-The more you pay for a stock broker, the less return you will get
-Financial directors are usually bad at predicting the market
-Don't try to predict the market or trust anyone who says they can, because it's virtually impossible to do.
-Invest conservatively (don't act on impulse)
-Don't let your emotions make your decisions for you.
I think that's about it. If you are a teenager you definitely wanna check this out. But anyone over 25 will be OK by just reading my short summary, assuming they don't already know all this stuff.
I don't recommend this book. It was a disappointing, redundant, cookie-cutter-advice investment advice book that at times seemed more geared toward manipulating the reader than informing me. I expected much better from Malkiel.
The 2-3 hour book can be reduced to a 2-3 minute list.
If you do listen to the book, listen critically. Don't believe everything you hear.
We should listen to this audio when we're 20s years old.
I'm afraid I'm 49 years old. It's a little bit late.
Lots of good specific information. The further reading list in the appendix is an excellent source. Takes you from the beginning and doesn't assume you have any previous knowledge.
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