The Most Important Thing: Uncommon Sense for the Thoughtful Investor By Howard Marks
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Half of my investment net worth follows the principles laid out in the two books by Malkiel and Bogle. This book educates you about the various investing strategies and advises readers to ignore investing fads and focus instead on constructing a broad and diversified portfolio using index funds. This investing classic is a must-read for all investors because it provides an entirely different market perspective. You can read more in my M1Finance review. Jack Bogle also talks about mean reversion and tax cost, which is why I am a huge fan of platforms like M1Finance, which helps me invest without fees, provides automatic rebalancing with new money, and avoids taxes due to selling. Avoiding expensive fees can help you to protect and grow your wealth over time.
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In this book, he tells investors to gain diversified exposure to the stock market at a meager cost via index funds, helping them keep more of their hard-earned money in their pockets. This book is written by one of the most successful money managers John Bogle, the founder and former CEO of The Vanguard Group. The Little Book Of Common Sense Investing By John Bogle The book covers significant investment vehicles, namely stocks, bonds, and real estate investment trusts. His argument is based on the efficient market hypothesis, which states that it is impossible to outperform the market by selecting individual stocks because all publicly available information about stocks is immediately priced into the stock. In his best-selling book A Random Walk Down Wall Street, he argues that fund managers cannot outperform the stock market because only three factors to consider when investing are company earnings, dividends, and asset allocation. Taming the Beast shows you how.Burton Malkiel, the author of this book, is a well-known critic of active fund management. * Details the origins and evolutions of Wall Street's most popular trading strategies * Describes who originated the strategy, and those who contributed to it * Analyzes each strategy's strengths and weaknesses As Benjamin Graham noted in the 1930s, investors would be well advised to avoid getting mired in one set of beliefs. Taming the Beast: Wall Street's Imperfect Answers to Making Money presents the various strategies, and shows you how the best strategy is to be both flexible and nimble. Index.Ī compelling financial narrative on flexible strategies investors can use to protect their assets Which is the best strategy for protecting your investments? Value investing? Indexing? Hedging? Growth investing? Asset allocation? It all depends upon the market because, although Wall Street has tried time and time again to devise a single system to tame the beast, the only thing that's constant about the market is that it's always changing and no one system will work perfectly to protect your assets each and every time. Chapter 12 The Madness of Crowds: Behaviorism.Chapter 10 Looking for the Bad: Short Selling.Chapter 9 Spreading It Around: Asset Allocation.Chapter 8 Not Just for the Rich: Alternatives.Chapter 7 Un-Real Estate: Property's Pull.Chapter 6 Over There: International Investing.Chapter 5 The Fast Lane: Growth Investing.
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Chapter 4 From Mild to Wild: Bonds Take Wing.Chapter 2 Eternal Equities: Stocks Do Best?.Chapter 1 Tarnished Gems: Value Investing.Bibliography Includes bibliographical references and index.