The Elements of Investing by Burton G Malkiel and Charles D Ellis Dec 14, 2009 8 potx

... 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 ... John Greenleaf Whittier wrote: “ Of all sad words of tongue and pen, the saddest are ‘ It might have been.’ ” * “ I should have ” and “ I wish I had ” are two more of his- tory ’...

Ngày tải lên: 21/06/2014, 08:20

... mortgage lending is going to be the rule again. Thank goodness!) 3. A mortgage is a very special kind of debt: When you take out a mortgage, you decide when to pay the money back. (Being in ... but a handful of the thousands of equity and bond funds that are sold to the public. But you c02.indd 30c02.indd 30 10/31/09 1:35:12 PM10/31/09 1:35:12 PM 22 The Elements of...

Ngày tải lên: 21/06/2014, 08:20

... including the fast-growing emerging markets. Similarly, c03.indd 59c03.indd 59 11/3/09 9:41: 48 AM11/3/09 9:41: 48 AM 50 The Elements of Investing author delights in buying individual stocks and ... the developed world c03.indd 58c03.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...

Ngày tải lên: 21/06/2014, 08:20

... the high technology and Internet funds — the stocks that turned out to be the most overpriced and then declined the most during the subsequent bear market. And more money went out of the market ... - and - hold investor would earn by putting money in at the start of the period and keeping her money invested through thick and thin. In fact, the returns...

Ngày tải lên: 21/06/2014, 08:20

... 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 knowledge of all those active and ... 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 portfoli...

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 ... would end up with almost $1.5 million, and you might be in a lower tax bracket during retirement. The fi gure on page 130 shows the dramatic advantage of investing throug...

Ngày tải lên: 21/06/2014, 08:20

... strategy 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 ... strategy consulting firm. He serves as Chair of Whitehead Institute and as a director of Vanguard and the Robert Wood Johnson Foundation. He has taught investing at b...

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 ... you. Saving is like weight control. Both take discipline and both depend on the right framing — the right way of thinking about the discipline. Start with a single and...

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

... fund. The fund is called the Total World Stock Index Fund. The expense ratio, cited in the following table, is slightly higher than those of the individual funds listed previously, and there ... exotic category achieve great results. 2. The records of the average perform- ers are discouraging, and those in the third and fourth quartiles can be deep- ly disapp...

Ngày tải lên: 21/06/2014, 09:20