As recently as a generation or two ago, the lack of financial ability wasn't a handicap for the average person. But in today's world - where most of us have been forced to manage our own investment and retirement portfolios - it has become essential to understand the finer points of our financial life.
While the meltdown of 2008 - 2009 has compounded the complexity of the investment landscape, timeless investment principles can help you navigate even the toughest investment terrain.
That's why best-selling author William Bernstein - a grassroots hero to independent investors - has written The Investor's Manifesto. Approaching the problems of investing and saving from the perspective of someone who has had to figure it out for himself, Bernstein knows firsthand how difficult these endeavors can be - especially for those with little professional experience in this arena. Now, with the current market maelstrom as a backdrop, he skillfully describes what it takes to plan for a lifetime of investing, discussing stocks and bonds as well as the relationship between risk and return.
Potentially generous returns are available to the brave, the disciplined, and the liquid. If you follow the advice found here and keep your head while others lose theirs, then you will have a fighting chance of avoiding the financial pitfalls in front of you and profiting over the long-term.
©2009 William Bernstein; (P)2009 Gildan Media Corp
"Bill Bernstein's impassioned new audio book is indeed a manifesto - a call to action for Main Street investors to free themselves from exploitation by Wall Street money moguls; to understand the brute principles that ultimately determine stock market returns; and to establish the sound and simple strategies necessary for investment success. The Investor's Manifesto is a grand-slam home run." (John C. Bogle, founder of the Vanguard Group, Inc.)
I like the concepts Bernstein teaches, but in Audiobook form it's too much to take. Way too many charts and graphs being read by the narrator. Endless readings of math calculations, mutual fund listings and tables of data. Don't buy the audiobook, get the actual book. I wish i had!
I reviewed his other book, the Four Pillars of Investing, so I will be brief here. Covers a lot of material that will help most, if not all, investors. Gets specific about portfolio design and asset allocation for different type of investors which is critical and very helpful. Although I still don't understand his short term bond allocation investments for long term investors, even after listening to this book twice. Jack Bogle and others often recommend intermediate bond allocation but there is no absolute strategy that we know for sure will work for future markets.
Dr. Bernstein of course, great sense of humor and smart.
He fulfilled his role, didn't distract me from concentrating on the dense material. Many times find his voice very soothing.
No really, great book overall.
There are countless indexes, bonds, REIT's etc listed in this audiobook as well as charts, graphs, and portfolio allocations. I knocked a half a star off this audiobook for not supplying some supplemental pdf files with this info. For example, Tony Robbins MONEY Master the Game audiobook provides, for no extra cost, 40 pdf files of charts and the alike to compliment his audio book. I would pay extra for these type of files if offered. So listen up future audiobook writers and producers. hope this helped.
Absolutely! Every investor should understand the objective science and history of the market to better prevent getting fleeced by poor performance, unnecessary risk, or commission obsessed agents. Bernstein condenses 3rd party academic research of the market's history into one book. No fantasy get rich quick gimmicks or cheer leading to encourage the reader to find the motivation to actualize their potential. This book is somber by comparison, dousing the dreamer with cold buckets of reality. But to the pragmatic investor, this book empowers one to remove unnecessary taxes, commissions, and risks from their finances and offers the best guidance toward the real goal of not outliving one's money.
Should I get an adviser or not?????
Starts out we're all incapable, finishes with don't trust anyone. Great instructions but Bill makes it sound like we can't pull it off. he may be right.
Bernstein offers intelligent commentary regarding market history, equity valuation and practical investing. He supplies the reader with the knowledge required for understanding investment strategy in fluctuating markets.
The author gives very technical insight into certain areas of investing. Some parts of this are tedious but they do substantiate his ideas on investing. You probably need to have some background before reading this book.
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