Index Funds: The 12-Step Program for Active Investors
Using a 12-Step Program for Active Investors, author Mark T. Hebner delivers investing facts straight-up, with supporting quotes from Nobel Prize winners. The dozens of original art paintings throughout the book (by Lala Ragimov) lend humanity and humor to a serious and thought-provoking subject.Hebner begins with the little-known fact that markets usually outperform managers, and he sets out to prove this conclusion in a modern, understandable, and intelligent book. After his "lack of understanding of how markets worked had cost me a mind-boggling amount of money, " Hebner researched his portfolio's performance and realized his knowledge could help investors "break these destructive patterns of investing."The author makes a profound argument for going against the common assumption that investors need to actively manipulate their portfolios in order to out-guess the unpredictable and random attributes of the movements of stocks, markets, managers, and styles.--Joan Phelps - Forward Magazine