The Elements of Investing by Burton G Malkiel and Charles D Ellis Dec 14, 2009 5 docx

... to provide individual investors—including our delightful grandchildren the basic principles for a lifetime of fi nancial success in saving and investing, all in 176 pages of straight talk ... earlier and taking greater advantage of the miracle of compounding. We could run through dozens of other examples using actual stock market returns. One investor might start earl...

Ngày tải lên: 21/06/2014, 08:20

... 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 and bond ... pleasure in the process of saving and the process of keeping trim. They do not think in terms of deprivation; they think in terms of making good progress toward achi...

Ngày tải lên: 21/06/2014, 08:20

... the developed world c03.indd 58 c03.indd 58 11/3/09 9:41:48 AM11/3/09 9:41:48 AM 56 The Elements of Investing At the same time, it could be damaging to companies making older competing products. ... funds. The fund pools the money from thousands of investors and buys a portfolio of hundreds of individual common stocks. The mutual fund collects all the divide...

Ngày tải lên: 21/06/2014, 08:20

... And 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 and then declined the most during ... persistence, and minimizing mistakes. In driv- ing, it ’ s having no serious accidents; in tennis, the key is getting the ball back; and in investing, it ’ s indexing...

Ngày tải lên: 21/06/2014, 08:20

... 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 divide the ... stand there and do nothing. Keep your eyes and your mind focused on the long term. 8. Use low - cost index funds. Nobody knows more than the total of all knowle...

Ngày tải lên: 21/06/2014, 08:20

... markets, and money, fami- lies should strive again and again to share their thoughts and feelings so they can understand each other and make decisions together. both1.indd 126both1.indd 126 10/31/09 ... million, and you might be in a lower tax bracket during retirement. The fi gure on page 130 shows the dramatic advantage of investing through a tax - advantaged plan. Y...

Ngày tải lên: 21/06/2014, 08:20

... 7 D David Copperfi eld (Dickens), 4 Debt doubling, 13 reduction, 25 27 Demographic groups, catering, 56 Derivatives, Buffett avoidance, 74– 75 Dimensional Fund Advisors, 34 Dinner, spending advice, ... consulting fi rm. He serves as Chair of Whitehead Institute and as a director of Vanguard and the Robert Wood Johnson Foundation. He has taught investing at both Harvard and Y...

Ngày tải lên: 21/06/2014, 08:20

... 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 and bond ... pleasure in the process of saving and the process of keeping trim. They do not think in terms of deprivation; they think in terms of making good progress toward achi...

Ngày tải lên: 21/06/2014, 09:20

... the 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 ... distressed by losses than they are delighted by gains. This leads people to discard their winners if they need cash and hold onto their losers because they don ’ t want t...

Ngày tải lên: 21/06/2014, 09:20

... – 90 25 – 10 40 – 50 s 65 – 75 35 – 25 60s 45 – 65 55 – 35 70s 35 – 50 65 – 50 80s and beyond 20 – 40 80 – 60 c 05. indd 108c 05. indd 108 11/3/09 10:16:21 AM11/3/09 10:16:21 AM 1 05 Keep ... allocation for those plan- ning bequests should be geared to the age of the recipi- ent, not the age of the donor, for that part of their total investments. c 05...

Ngày tải lên: 21/06/2014, 09:20