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:“Do not expect high returns without risks.”The History of Investing:“About once every generation, the markets go barking mad. If you are unprepared, you are sure to fail.”The Psychology of Investing:“Identify the era’s conventional wisdom and assume that it is wrong. More often than not, it is.”The Business of Investing:“The stockbroker services his clients in the same way that Bonnie and Clyde serviced banks.”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.