The Future for Investors

Why the Tried and the True Triumph Over the Bold and the New

By: Jeremy J. Siegel

Narrated by: Stephen Hoye

Length: 9 hrs and 14 mins

Publisher's summary

The new paradigm for investing and building wealth in the 21st century. The Future for Investors reveals new strategies that take advantage of the dramatic changes and opportunities that will appear in world markets.

Jeremy Siegel, one of the world’s top investing experts, has taken a long, hard, and in-depth look at the market and the stocks that investors should acquire to build long-term wealth. His surprising finding is that the new technologies, expanding industries, and fast-growing countries that stockholders relentlessly seek in the market often lead to poor returns. In fact, growth itself can be an investment trap, luring investors into overpriced stocks and overly competitive industries. The Future for Investors shatters conventional wisdom and provides a framework for picking stocks that will be long-term winners.

While technological innovation spurs economic growth, it has not been kind to investors. Instead, companies that have marketed tried-and-true products for decades in slow-growth or even declining industries have superior returns to firms that develop “the bold and the new.” Industry sectors many regard as dinosaurs - railroads and oil companies, for example - have actually beat the market.

Professor Siegel presents these strategies within the context of the coming shift in global economic power and the demographic age wave that will sweep the United States, Europe, and Japan. Contrary to the popular belief that these economic and demographic trends doom investors to poor returns, Professor Siegel explains the True New Economy and how to take advantage of the coming surge in invention, discovery, and economic growth.

The faster the world changes, the more important it is for investors to heed the lessons of the past and find the tried-and-true companies that can help you beat the market and prosper in the years ahead.

©2005 Jeremy J. Siegel (P)2005 Books on Tape, Inc.

Critic reviews

“Jeremy Siegel has done us a great service with his superb work. While no one can predict the future of stocks with certainty, Siegel’s analysis marks the verdict of history: the triumph of the shareholder over the shareflipper, the investor over the speculator, the builder over the gambler. Strong conclusions, good writing, and a refreshing message make this a compelling and important book to read.” (Jim Collins, author of Good to Great and co-author of Built to Last)

“Jeremy Siegel is a wise man and an astute observer of the ever-changing investment universe. The Future for Investors is essential for the professional and serious amateur investor to navigate the new era.” (Barton M. Biggs, managing partner, Traxis Partners)

“Jeremy Siegel’s lively new book is much more than a typical Siegelian guide to asset allocation. It is a masterful, provocative, fact-stuffed, commonsense, and creative guide to profitable stock-picking strategies. Even the most cynical and experienced investors will gain from reading Siegel’s latest contribution to their well-being.” (Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk)

Definately worth reading if you invest in equities

I believe individuals who are invested in equities will benefit from reading or listening to this work. This book includes useful information on investing strategies that one might want to consider. He also presents some interesting information that runs counter to common beliefs held buy many investors. For example, which would you have chosen in the early 1990's: To invest in China or in Brazil? Brazilian stocks did far better although the economy there grew very slowly during the study period. Stocks in China did not do so well despite a torrid economic growth rate. Jeremy Siegel has conducted extensive new research since his last book, "Stocks for the Long Run" (1994). As a result, he has changed some of his recommendations and strategies. My only negative comment is that he perhaps spends a bit too much time on some of the negative things that were said about him during the peak of the bubble. He questioned some of the ridiculous valuations of Internet stocks and received alot of hate mail as a result. Of course, history proved him right and I'm sure he enjoyed including his "I told you so" comments in the book.

Overall a worthwhile book. I recommend this, along with Peter Lynch's "One up on Wall Street".

Excellent ideas

One of those books I should have read 20 years ago. I plan to pass this knowledge onto my children.

Excellent for long-term investors

This is an outstanding and thoroughly researched audiobook that provides a roadmap for making long term investment decisions and the rationale for why those decisions are best. Siegel clearly knows his stuff and has great credentials. This should be required listening for anyone managing money for the long haul.

Great Book to learn about Investing

What did you love best about The Future for Investors?

I loved that this book gave me some great principles for my investing strategy.

What other book might you compare The Future for Investors to and why?

N/A

Which character – as performed by Stephen Hoye – was your favorite?

N/A

What insight do you think you’ll apply from The Future for Investors?

It will let you know which investments are best for the long run and that everything that is shiny isn't gold.

Future for Investors

Great rock solid fundamentals for any investor at any level. Doesn't give investment advice, but more of market statistics and trends. Interesting and insightful.

A good argument for value investing

Siegel takes the reader on an historical tour of the stock market, from the 1950's onward, to examine historical trends, bubbles, dips, and investment strategies in general. Through examples taken from the past, the author lays out a good argument in favor of value strategies over growth strategies, particularly in the chapter on "The Growth Trap." Investors who favor growth strategies may disagree, but Siegel does have history on his side as he applies strategies to equities in the past to project what their results would be today.

In the second half, the author looks into the future to describe several possible scenarios that could occur if the Baby Boomers, as they hit retirement, try to sell their porfolios. To the troubling question of, "To whom will they sell, if there are more retirees than workers -- and hence more sellers than buyers?" Siegel gives some possible solutions as he considers the market globally instead of just within the U.S. However, his "global solution" relies on workers and stock buyers oversees, and raises a spectre that the author does not discuss: what is left for the American worker if jobs must rapidly move overseas to make the "global solution" work?

Helpful for investing

I found the book helpful. It agreed with my investment style of longer term investing rather than quick turn-arounds. Well worth listening to the "value" vs "growth" side of investing.

Very Good Insight

Very nice audio selection for getting insight into the markets.

Awesome book

If you are interested in investing and building wealth that will Compound and continue to grow, you’ll love this book. One of my favorites! it’s packed with the information that everyone should know if they want to be investing in the market. No gimmicks or nonsense.

Master of the Obvious

Repetitive, obvious, and tiresome. I must confess that I didn't have the patience to survive past Chapter 5, although the first half can be summarized as 1) You need to include dividend yields when determining investor returns and 2) The valuation or PE level that you buy in at will dictate your ultimate return. The analysis was heavily weighted around Company's that existed in 1957 (the start of the S&P500 (which I fear subject the conclusions to some survivor bias). Perhaps the second half is better, but I am unlikely find out. This was my worst Audible investment to date.