The Elements of Investing by Burton G Malkiel and Charles D Ellis Dec 14, 2009 6 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 1 76 pages of straight talk ... have nothing to invest. The Elements of Investing c01.indd 2c01.indd 2 10/31/09 1:34: 46 PM10/31/09 1:34: 46 PM 6 The Elements of Investing make you feel deprived. Not at...

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

... Or what c03.indd 66 c03.indd 66 11/3/09 9:41:48 AM11/3/09 9:41:48 AM 52 The Elements of Investing darling of Wall Street, and it seemed to defy gravity by rising steadily into the stratosphere. ... 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 divi...

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 ... sell- ing at low multiples of earnings and with high dividend yields, experienced large withdrawals. During the bear market that followed, these same value funds held up...

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 1 26 10/31/09 ... every dollar they save. Moreover, these plans allow the earnings and gains from these savings plans to compound over time tax free. Here we describe the details of thes...

Ngày tải lên: 21/06/2014, 08:20

... 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 Yale and is the author of ... ts, 58–59 global approach, 1 16 mandate, 55 meaning, 54–55 timing, 60 65 Dividends, fl uctuation, 56 57 Dollar cost averaging, 61 64 bargain, 65 comparison, 63 exa...

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

... 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. c05.indd 106c05.indd 1 06 11/3/09 10: 16: 21 AM11/3/09 10: 16: 21 ... slightly higher than those of the individual funds listed previously, and there is a small purchase charge. But it c05.indd 116c05.indd 1 16 11/3/09 10: 16: 21 AM...

Ngày tải lên: 21/06/2014, 09:20