The Four Pillars of Investing: Lessons for Building a Winning Portfolio: Lessons for Building a…

Hardcover | July 8, 2010

byWilliam J. Bernstein

not yet rated|write a review

The classic guide to constructing a solid portfolio—without a financial advisor!

“With relatively little effort, you can design and assemble an investment portfolio that, because of its wide diversification and minimal expenses, will prove superior to the most professionally managed accounts. Great intelligence and good luck are not required.”

William Bernstein’s commonsense approach to portfolio construction has served investors well during the past turbulent decade—and it’s what made The Four Pillars of Investing an instant classic when it was first published nearly a decade ago.

This down-to-earth book lays out in easy-to-understand prose the four essential topics that every investor must master: the relationship of risk and reward, the history of the market, the psychology of the investor and the market, and the folly of taking financial advice from investment salespeople.

Bernstein pulls back the curtain to reveal what really goes on in today’s financial industry as he outlines a simple program for building wealth while controlling risk. Straightforward in its presentation and generous in its real-life examples, The Four Pillars of Investing presents a no-nonsense discussion of:

  • The art and science of mixing different asset classes into an effective blend
  • The dangers of actively picking stocks, as opposed to investing in the whole market
  • Behavioral finance and how state of mind can adversely affect decision making
  • Reasons the mutual fund and brokerage industries, rather than your partners, are often your most direct competitors
  • Strategies for managing all of your assets—savings, 401(k)s, home equity—as one portfolio

Investing is not a destination. It is a journey, and along the way are stockbrokers, journalists, and mutual fund companies whose interests are diametrically opposed to yours.

More relevant today than ever, The Four Pillars of Investing shows you how to determine your own financial direction and assemble an investment program with the sole goal of building long-term wealth for you and your family.

Pricing and Purchase Info

$29.03 online
$37.95 list price (save 23%)
In stock online
Ships free on orders over $25
Prices may vary. why?
Please call ahead to confirm inventory.

From the Publisher

The classic guide to constructing a solid portfolio—without a financial advisor!“With relatively little effort, you can design and assemble an investment portfolio that, because of its wide diversification and minimal expenses, will prove superior to the most professionally managed accounts. Great intelligence and good luck are not req...

From the Jacket

Since its initial publication, The Four Pillars of Investing has become a staplefor the independent-minded investor looking to make better-informedinvestment decisions. Written by noted financial expert and neurologistWilliam Bernstein, this time-honored investing guide provides the knowledgeand tools for achieving long-term profitabil...

William J. Bernstein, Ph.D., M.D., is a neurologist and the cofounder of the investment management firm Efficient Frontier Advisors. He is the author of three finance books—The Intelligent Asset Allocator, The Four Pillars of Investing, and The Investor’s Manifesto—and two volumes of economic history, The Birth of Ple...

other books by William J. Bernstein

The Investors Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between
The Investors Manifesto: Preparing for Prosperity, Arma...

Paperback|Aug 28 2012

$18.00 online$22.95list price(save 21%)
The Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Risk…
The Intelligent Asset Allocator: How to Build Your Port...

Hardcover|Oct 13 2000

$34.07 online$47.95list price(save 28%)
The Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Risk
The Intelligent Asset Allocator: How to Build Your Port...

Audio Book (CD)|Nov 9 2004

$21.79 online$28.00list price
see all books by William J. Bernstein
Format:HardcoverDimensions:336 pages, 9.2 × 6.3 × 1.3 inPublished:July 8, 2010Publisher:McGraw-Hill EducationLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0071747052

ISBN - 13:9780071747059

Customer Reviews of The Four Pillars of Investing: Lessons for Building a Winning Portfolio: Lessons for Building a Winning Portfolio

Reviews

Extra Content

Table of Contents

Preface; Introduction; Pillar One: The Theory of Investing; Chapter 1. No Guts, No Glory; Chapter 2. Measuring the Beast; Chapter 3. The Market is Smarter Than you Are; Chapter 4. The Perfect Portfolio; Pillar Two: The History of Investing; Chapter 5. Tops; Chapter 6. Bottoms; Pillar Three: The Psychology of Investing; Chapter 7. Misbehavior; Chapter 8. Behavioral Therapy; Pillar Four: The Business of Investing; Chapter 9. Your Broker is Not Your Buddy; Chapter 10. Neither is Your Mutual Fund; Chapter 11. Oliver Stone meets Wall Street: Investment Strategy; Chapter 12. Will you Have Enough?; Chapter 13. Defining Your Mix; Chapter 14. Getting Starts, Keeping it Going; Chapter 15. A Final Word