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The Four Pillars of Investing: Lessons for Building a Winning Portfolio | [William Bernstein]

The Four Pillars of Investing: Lessons for Building a Winning Portfolio

William Bernstein's The Four Pillars of Investing gives investors the tools they need to construct top-returning portfolios without 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 better-informed investment decisions.
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Publisher's Summary

William Bernstein's The Four Pillars of Investing gives investors the tools they need to construct top-returning portfolios without 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 better-informed investment decisions.

The Four 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

©2002 McGraw-Hill; (P)2003 AMI

What Members Say

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Performance
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  •  
    Ronald Wilmette, IL, United States 04-10-12
    Ronald Wilmette, IL, United States 04-10-12 Member Since 2010
    HELPFUL VOTES
    4
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    "So good I listened twice"
    What did you learn from The Four Pillars of Investing that you would use in your daily life?

    I have been learning to invest for 30 years. Had I bought this book in 1983 and followed Bernstein's advice, I would have slept better and been wealthier. This book prescribes a simple approach that requires discipline, and it explains why the approach will work. Not because it predicts performance of markets, but because it appreciates how markets behave owing to human nature.


    4 of 4 people found this review helpful
  •  
    Debra Lang turttle46 05-22-07
    Debra Lang turttle46 05-22-07 Member Since 2007
    HELPFUL VOTES
    4
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    "Excellent listen"

    An excellent book that was an engaging and educating.

    3 of 3 people found this review helpful
  •  
    Neal Lowell, AR, USA 09-19-09
    Neal Lowell, AR, USA 09-19-09
    HELPFUL VOTES
    15
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    "One of the Best Investing Books I've Read"

    William Bernstein does a great job laying out the case for passive investing, explaining why it works, how people can get overly enthusiastic in stocks and how bubbles can really pop. His recommendations on Asset Allocation are also spot on for the individual investor. Highly, Highly Recommend and listen to it over and over again.

    2 of 2 people found this review helpful
  •  
    mr VINCENNES, IN, United States 06-02-13
    mr VINCENNES, IN, United States 06-02-13 Member Since 2011
    HELPFUL VOTES
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    "Get "The Investor's Manifesto" instead"
    Is there anything you would change about this book?

    Lots of material I've heard before. It's not bad if you are new to Bernstein, but reading this and "The Investor's Manifesto" is redundant.


    1 of 1 people found this review helpful
  •  
    D. Hall Citrus Heights, CA USA 08-13-12
    D. Hall Citrus Heights, CA USA 08-13-12 Member Since 2006

    Retired Reader

    HELPFUL VOTES
    5
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    "Good guideance for the investor"
    If you could sum up The Four Pillars of Investing in three words, what would they be?

    Investors should "Read this book"


    What was the most interesting aspect of this story? The least interesting?

    There is a lot of detail here. Unless you are familiar with the subject of investing, you may want to read it multiple times.


    Which character – as performed by Chris Ryan – was your favorite?

    The financial advisor. The author seems to have little respect for most financial advisors.


    If you were to make a film of this book, what would be the tag line be?

    Instructions on personal investing


    Any additional comments?

    I liked this book. It has a lot of good down to earth advice for investors.

    2 of 3 people found this review helpful
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  • Claire
    7/9/14
    Overall
    Performance
    Story
    "Investment Basics Made Simple"
    If you could sum up The Four Pillars of Investing in three words, what would they be?

    To the point.


    What other book might you compare The Four Pillars of Investing to, and why?

    I am not aware of any that are as short as this but still useful.


    What do you think the narrator could have done better?

    Sound less like a compere.


    Was there a moment in the book that particularly moved you?

    N/A


    Any additional comments?

    A useful, bite sized introduction to investment strategy.

    0 of 0 people found this review helpful
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