The elements of investing
easy lessons for every investor
- ISBN: 9781119773733
- Editorial: John Wiley & Sons Limited
- Fecha de la edición: 2021
- Lugar de la edición: Hoboken. Estados Unidos de Norteamérica
- Edición número: 10th ed.
- Encuadernación: Cartoné
- Medidas: 22 cm
- Nº Pág.: 137
- Idiomas: Español
"A common misperception is that successful investing requires a ton of money, a complicated portfolio, or a detailed understanding of where the markets are headed next. The truth is, sometimes the simplest approach is the toughest to beat. Charley Ellis and Burt Malkiel do a masterful job in The Elements of Investing of laying out clear, simple rules that any investor can follow to grow their wealth over time."
—TIM BUCKLEY, Vanguard Chairman & CEO
"These noted authors have distilled all you need to know about investing into a very small package. The best time to read this book is when you turn eighteen (or maybe thirteen) and every year thereafter."
—HARRY MARKOWITZ, Nobel Laureate in Economics 1990
"Struggling to find money to save? Befuddled by the bewildering array of investment choices? As you venture into the financial markets for the first time, it's helpful to have a trusted guide—and, in Charley Ellis and Burt Malkiel, you have two of the finest."
—JONATHAN CLEMENTS, author of The Little Book of Main Street Money
"No one knows more about investing than Charley Ellis and Burt Malkiel, and no one has written a better investment guide. These are the best basic rules of investing by two of the world's greatest financial thinkers."
—CONSUELO MACK, Anchor and Managing Editor, Consuelo Mack WealthTrack
Introduction xxi
It All Starts with Saving 1
I. Save 3
First Do No Harm 5
Start Saving Early: Time is Money 6
The Amazing Rule of 72 7
Savvy Savings 11
Small Savings Tips 14
Big Ways to Save 15
Let the Government Help You Save 17
Own Your Home 18
How Do I Catch Up? 19
II. Index 23
Nobody Knows More Than the Market 24
The Index Fund Solution 27
Don’t Some Beat the Market? 29
Index Bonds 33
Index Internationally 34
Index Funds Have Big Advantages 36
One Warning 37
Confession 39
III. Diversify 41
Diversify Across Asset Classes 43
Diversify Across Markets 46
Diversify Over Time 47
Rebalance 51
IV. Avoid Blunders 57
Overconfidence 59
Beware of Mr. Market 61
The Penalty of Timing 65
More Mistakes 66
Minimize Costs 67
V. Keep It Simple 71
Review of Basic Rules 72
Asset Allocation 79
Asset Allocation Ranges 81
Investing in Retirement 85
Getting Specific 86
VI. Timeless Lessons for Troubled Times 95
Volatility and Dollar-Cost Averaging 97
Diversification is Still a Time-Honored Strategy to Reduce Risk 99
Rebalancing 101
Diversification and Rebalancing Together 103
Index at Least the Core of Your Portfolio 104
Fine-Tuning a Bond Diversification Strategy 107
A Final Thought 111
A Super Simple Summary: KISS Investing 113
Appendix: Save on Taxes Legally 115
Individual Retirement Accounts (IRAs) 115
Roth IRAs 117
Pension Plans 118
Tax-Advantaged Saving for Education 120
Recommended Reading 123
Acknowledgments 125
About the Authors 127
Index 129
