The Elements of Investing by Burton G Malkiel and Charles D Ellis Dec 14, 2009 6 docx
The Elements of Investing by Burton G. Malkiel and Charles D. Ellis Dec 14, 2009_1 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
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The Elements of Investing
make you feel deprived. Not at...
The Elements of Investing by Burton G. Malkiel and Charles D. Ellis Dec 14, 2009_2 docx
... 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...
The Elements of Investing by Burton G. Malkiel and Charles D. Ellis Dec 14, 2009_4 doc
... Or what
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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...
The Elements of Investing by Burton G. Malkiel and Charles D. Ellis Dec 14, 2009_5 docx
...
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...
The Elements of Investing by Burton G. Malkiel and Charles D. Ellis Dec 14, 2009_6 docx
... 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...
The Elements of Investing by Burton G. Malkiel and Charles D. Ellis Dec 14, 2009_8 potx
... 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...
The Elements of Investing by Burton G. Malkiel and Charles D. Ellis Dec 14, 2009_9 docx
... 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...
The Elements of Investing by Burton_1 docx
... 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...
The Elements of Investing by Burton_5 pptx
... 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...
The Elements of Investing by Burton_6 docx
... 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.
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slightly higher than those of the individual funds listed
previously, and there is a small purchase charge. But it
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