Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between
Bernstein born is an American financial theorist and neurologist. His research is in the field of modern portfolio theory and he has published books for individual investors who wish to manage their own equity portfolios. Bernstein is a proponent of the equity or index allocation school of thought, believing that all equity selection strategies should be focused on allocating between asset classes, rather than selecting individual stocks and bonds, or from the timing of their sales.
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It also puts asset-class returns into long-term historical perspective. Bernstein is a proponent of modern portfolio theory , which stands in stark contrast to the view that skilled managers can succeed in picking particular investments that will outperform the market, whether through market timing, momentum investing , or finding assets whose future value have been underestimated by the market.
He argues that the financial research literature shows that most return is determined by the asset allocation of the portfolio rather than by asset selection.
In , Bernstein introduced Coward's Portfolio, a popular form of lazy portfolio. Bernstein's third book, The Birth of Plenty , is a history of the world's standard of living; it proposes four conditions that have historically been necessary for it to rise. In his fifth book was published "The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between" which continues the theme of asset allocation in a more accessible way.
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It updated his earlier books on investing to cover the position after the Great Financial Crisis GFC of , and the most recent research on investing, including that by Elroy Dimson, Paul Marsh, and Mike Staunton, authors of "Triumph of the Optimists". Bernstein holds a PhD in chemistry and an MD; he practiced neurology until retiring from the field.
http://conservadores2020.xtage.com.br/14286-cuando-un.php Written in a straightforward and accessible style, The Investor's Manifesto: Explores the theoretical basis of investing and designing portfolios, drawn in large part from financial historyOffers insights on dealing with the emotions and attitudes that routinely cripple investorsDiscusses how to deal with the investment industry when executing strategies designed for anything from saving for retirement to putting a child through collegeAddresses ways in which individual investors can construct diversified portfolios that can blunt potentially damaging market forcesCovers the concept of Pascal's Wager-which will enable you to identify and avoid worst-case investing scenarios If there were ever a time to take control of your financial future, it is now.
Potentially generous returns are available to the brave, the disciplined, and the liquid.
If you follow the advice found here and keep your head while others lose theirs, then you will have a fighting chance of avoiding the financial pitfalls in front of you and profiting over the long-term. Listeners Also Bought See All. The Four Pillars of Investing.