The Elements of Investing_1 doc

... www.tailieuduhoc.org 8. Avoid the use of qualifiers. Rather, very, little, pretty — these are the leeches that infest the pond of prose, sucking the blood of words. The constant use of the adjective little ... draws the reader's attention to the sense and substance of the writing, rather than to the mood and temper of the author. If the writing is...

Ngày tải lên: 20/01/2014, 20:20

... bring the flesh and the blood. The more clearly the writer perceives the shape, the better are the chances of success. 13. Make the paragraph the unit of composition. The paragraph is a convenient ... preferred form in a paragraph on the dramatists of the Restoration, the second in a paragraph on the tastes of modern readers. The need to make a particul...

Ngày tải lên: 20/01/2014, 20:20

... out any of the pencil inside the outline of the letter, retouch it, closing it up to the inked line. The straight lines of the outline are all to be ruled,[5] 15 but the curved lines are to be ... the bottom of the crack; and the general tone of the stone surface is not so bright as the light bank of the ravine. And, therefore, if you get the...

Ngày tải lên: 06/03/2014, 01:21

... Street Bestselling author of Winning the Loser’s Game THE ELEMENTS OF INVESTING M M A A LKI E E L L E E LLI S S THE ELEMENTS OF INVESTING In his classic book The Elements of Style, Professor William Strunk ... the failure of the majority of mutual fund managers to exceed the returns of low - cost, passive, market - matching index strategies. The document...

Ngày tải lên: 20/06/2014, 20:20

... at the end of the period. While a total of exactly $ 5,000 is invested in both cases, the investor in the volatile market ends up with $ 6,048 — a nice return of $ 1,048 — even though the ... fans of dollar cost averaging because the strategy is not optimal if the mar- ket does go straight up. (You would have been better off putting all $ 5,000 into the market at...

Ngày tải lên: 20/06/2014, 20:20

... measure the rate of return produced for their investors as well as all the costs charged and the implicit costs of portfolio turnover — the cost of buying and selling portfolio holdings. We then ... prices of stocks. It is true that the market sometimes makes mistakes — often egregious ones such as the overvaluation of high - tech and Internet stocks at the turn...

Ngày tải lên: 20/06/2014, 20:20

... 10:16:21 AM 116 The Elements of Investing in the United States. It excludes the 30 percent made up of smaller companies, many of which are the most entre- preneurial and capable of the fastest future ... leave most of her estate to her children or grandchildren. The appropriate allocation for those plan- ning bequests should be geared to the age of the recipi- e...

Ngày tải lên: 20/06/2014, 20:20

... author of A Random Walk Down Wall Street Bestselling author of Winning the Loser’s Game THE ELEMENTS OF INVESTING M M A A LKI E E L L E E LLI S S THE ELEMENTS OF INVESTING In his classic book The Elements ... Malkiel is the Chemical Bank Chairman ’ s Professor of Economics at Princeton University and the author of the bestselling, A Random Walk Down Wall Str...

Ngày tải lên: 21/06/2014, 00:20

... PM 12 The Elements of Investing after William quit) and continued depositing $4,000 per year for the next 25 years for a total investment of $100,000. When both brothers reached the age of 65, ... have the worst possible timing, investing at the peak of the stock market each year. Another investor starts later but is the world ’ s luckiest investor, buying at...

Ngày tải lên: 21/06/2014, 08:20

... but a handful of the thousands of equity and bond funds that are sold to the public. This simple investment strategy — indexing — has out- performed all but a handful of the thousands of equity ... they center their thinking on enjoying the benefi ts of achieving their goals, most savers and most slim people take pleasure in the process of saving and the pro...

Ngày tải lên: 21/06/2014, 08:20

... broadly diversifi ed bond fund. The U.S. Treasury issues large amounts of bonds. These issues are considered the safest of all and these bonds are the one type of security where diversifi cation ... moderate the risk of a common stock portfolio by providing offsetting variations to the inevitable ups and downs of the stock market. For exam- ple, in 2008, common...

Ngày tải lên: 21/06/2014, 08:20

... exactly the wrong time. More money went into equity mutual funds dur- ing the fourth quarter of 1999 and the fi rst quarter of 2000 — just at the top of the market — than ever before. And most of ... most of the money that went into the market was directed to the high technology and Internet funds — the stocks that turned out to be the most overpriced...

Ngày tải lên: 21/06/2014, 08:20

... costs charged and the implicit costs of portfolio turnover — the cost of buying and selling portfolio holdings. We then divide the funds into quartiles and show the average returns and average ... PM 98 The Elements of Investing The lists in the table on the following page also include tax - exempt money - market funds. These funds invest in obligations...

Ngày tải lên: 21/06/2014, 08:20

... PM 143 ABOUT THE AUTHORS BURTON G. MALKIEL Burton G. Malkiel is the Chemical Bank Chairman ’ s Professor of Economics at Princeton University and the author of the bestselling, A Random Walk ... author of A Random Walk Down Wall Street Bestselling author of Winning the Loser’s Game THE ELEMENTS OF INVESTING M M A A LKI E E L L E E LLI S S THE...

Ngày tải lên: 21/06/2014, 08:20

... on the width of a house. Consider another architectural example, the invention of the mansard roof in France. Property taxes were often levied on the number of rooms in a house and, therefore, ... think in terms of deprivation; they think in terms of making good progress toward achieving their goal. As they make progress toward their goal, they have the fun and satis...

Ngày tải lên: 21/06/2014, 15:20