The Four Pillars of Investing: Lessons for Building a Winning Portfolio
Since its initial publication,The Four Pillars of Investinghas become a staple for the independent-minded investor looking to make better-informed investment decisions. Written by noted financial expert and neurologist William Bernstein, this time-honored investing guide provides the knowledge and tools for achieving long-term profitability.Bernstein bridges the four fundamental topics successful investors use to generate exceptional profits on a consistent basis:The Theory of Investing:&#8220;Do not expect high returns without risks.&#8221;The History of Investing:&#8220;About once every generation, the markets go barking mad. If you are unprepared, you are sure to fail.&#8221;The Psychology of Investing:&#8220;Identify the era&#8217;s conventional wisdom and assume that it is wrong. More often than not, it is.&#8221;The Business of Investing:&#8220;The stockbroker services his clients in the same way that Bonnie and Clyde serviced banks.&#8221;From the essential soundness of classic portfolio theory through the inherent wisdom of investing in multiple asset classes,The Four Pillars of Investingprovides a distinctive blend of market history, investing theory, and behavioral finance to help you become a successful, self-sufficient investor.