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The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio by William J. Bernstein PDF

نویسنده: William J. Bernstein

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Add to these behavioral errors such economic factors as deflation, sudden stock declines, soaring inflation, and the like—and investing can seem like something to be avoided at all costs. But with the right discipline and knowledge, you can build and manage an impressive portfolio. It all comes down to understanding four key pillars:

Theory: Risk and return go hand in hand—you can’t make money without risk
History: Understand past markets to understand today’s markets
Psychology: Avoid the most common behavioral mistakes that tank portfolios
Business: The cost of investment services can be high—unreasonably high

After taking you on a deep dive into each of these topics, Bernstein walks you through the process of designing and maintaining a powerful portfolio.

Times have changed. Economies have changed. And markets are ever-changing. But sound investing principles haven’t changed. Use The Four Pillars of Investing to stay a step ahead of your investing peers and build a portfolio to be proud of.