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:
©2002 McGraw-Hill; (P)2003 AMI
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.
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.
Investors should "Read this book"
There is a lot of detail here. Unless you are familiar with the subject of investing, you may want to read it multiple times.
The financial advisor. The author seems to have little respect for most financial advisors.
Instructions on personal investing
I liked this book. It has a lot of good down to earth advice for investors.
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.
"Investment Basics Made Simple"
To the point.
I am not aware of any that are as short as this but still useful.
Sound less like a compere.
A useful, bite sized introduction to investment strategy.
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