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The Bogleheads′ Guide to Investing (Anglais) Relié – 26 septembre 2014
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Description du produit
Présentation de l'éditeur
The Boglehead′s Guide to Investing is a DIY handbook that espouses the sage investment wisdom of John C. Bogle. This witty and wonderful book offers contrarian advice that provides the first step on the road to investment success, illustrating how relying on typical "common sense" promoted by Wall Street is destined to leave you poorer. This updated edition includes new information on backdoor Roth IRAs and ETFs as mainstream buy and hold investments, estate taxes and gifting, plus changes to the laws regarding Traditional and Roth IRAs, and 401k and 403b retirement plans. With warnings and principles both precisely accurate and grandly counterintuitive, the Boglehead authors show how beating the market is a zero–sum game.
Investing can be simple, but it′s certainly not simplistic. Over the course of twenty years, the followers of John C. Bogle have evolved from a loose association of investors to a major force with the largest and most active non–commercial financial forum on the Internet. The Boglehead′s Guide to Investing brings that communication to you with comprehensive guidance to the investment prowess on display at Bogleheads.org. You′ll learn how to craft your own investment strategy using the Bogle–proven methods that have worked for thousands of investors, and how to:
- Choose a sound financial lifestyle and diversify your portfolio
- Start early, invest regularly, and know what you′re buying
- Preserve your buying power, keeping costs and taxes low
- Throw out the "good" advice promoted by Wall Street that leads to investment failure
Financial markets are essentially closed systems in which one′s gain garners another′s loss. Investors looking for a roadmap to successfully navigating these choppy waters long–term will find expert guidance, sound advice, and a little irreverent humor in The Boglehead′s Guide to Investing.
Quatrième de couverture
Praise for The Bogleheads Guide to Investing, Second Edition
"I′m often asked to recommend a good, basic book on investing, and The Bogleheads′ Guide to Investing has been my go–to pick since its original publication. It focuses on all the right things: the virtues of maintaining a frugal lifestyle, keeping investment costs down, and building a simple, low–maintenance portfolio. And importantly, it also tells investors what they can safely tune out namely, day–to–day market action and the latest ′hot′ investment products. Its advice will stand the test of time."
CHRISTINE BENZ, Director of Personal Finance, Morningstar, Inc.
"John Bogle set out to reform the mutual fund industry nearly 40 years ago. He saw a high fee, self–serving, good ol′ boy network and thought it was wrong. Bogle believed the purpose of an investment company was to be investor–focused. His idea turned into a revolution. The Bogleheads′ Guide to Investing is a testimony to the massive changes that have taken place as a result of Bogle′s vision. The ideas in this book have saved countless investors billions of dollars in unnecessary fees. Hats off to Taylor, Mel, and Mike for a job well done."
RICK FERRI, CFA, Founder, Portfolio Solutions LLC
"The Bogleheads′ Guide to Investing describes a sophisticated and proven approach to successful investing. Nevertheless, its message of saving, investing in a diversified, balanced, low cost portfolio, and keeping it simple is easily grasped by investors of all levels of experience. Regardless of your investment acumen, this book provides many clearly expounded investment insights and is a great roadmap to financial success."
GEORGE U. "GUS" SAUTER, Retired Chief Investment Officer, Vanguard
"The best one–stop shopping solution to saving, debt management, investing, insurance, and financial planning I have seen between two covers. For the price of a week′s worth of lattes, you can secure your future."
WILLIAM J. BERNSTEIN, cofounder, Efficient Frontier Advisors, LLC, author of The Intelligent Asset Allocator, The Four Pillars of Investing, and The Investor′s Manifesto
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Commentaires client les plus utiles sur Amazon.com
Before finding this gem of a book, I was reading several success books this year like "Success Principles" by Canfield, "Success Through a Positive Mental Attitude" by Hill & Stone, "The Richest Man in Babylon" by Clason, "The Templeton Plan" by Sir Templeton, to name a few. One book led to another and I ended up with "Smart Couples Finish Rich" by David Bach, which led me to Graham's "The Intelligent Investor". I first read Graham's 1972 edition (thanks to LA public library) and was looking for more current examples, so I purchased the 2003 edition with commentaries by Jason Zweig, which proved to be a very worthwhile upgrade.
While looking up some things I didn't understand online, I repeatedly came across the bogleheads forum, so I signed up as a free member and asked a question. The bogleheads were so helpful that I not only got my question answered, but also understood that the people there were genuinely trying to help. One of the bogleheads led me to a forum page which had book recommendations, so I purchased the kindle edition of this book.
And the moment I started reading the book, I knew this book had the answers for most of my questions. I finished reading it in two days! I just wanted to do this homework done asap and take care of my 401(K)s and IRAs. I had done a big timing mistake six years ago and went highly conservative (80% bonds, 10% stocks and 10% REITs). Luckily it was before the crash, so I had netted some profits, but I waited too long to get in to stocks again. Then I changed jobs and never paid attention! And the stock market had its best bull run for the past 5 years (no one told me!)! Wish I had put my money in a target retirement fund and went to sleep, but that wasn't the case :-(
This excerpt from the book sums it all up about the authors and this book:
"We have no hidden agendas. We aren't financial planners or money managers looking for clients. We don't have a high-powered, get-rich-quick weekend seminar to sell you. We are all well over 70 years of age, financially secure, and haven't missed a meal yet. If you want to read the book at the bookstore, the library, or borrow it from a friend, that's fine with us."
So you are not getting a book that just skims a few things and then asks you to look into the authors' other books or their youtube channel or sign up for their weekly digest!
The book begins with a quick introduction on the philosophy of borrowing vs. spending vs. saving and investing. The initial chapters have some valuable general advice (like car buying and running a part-time business, for example). But the main content is all about sound investing principles, facts and strategies. The book also discusses enough about taxes, which a lot of investing books seem to just skim or totally ignore. There is also enough material covering how to manage one's emotions when investing. I found some of the material to be like "Ben Graham Simplified".
This is one of the very few books that has the guts to not lick the boots of network marketing businesses. (I have personally wasted a lot of my time and money in one such business.) Most other "success authors" would like to sell their books to network marketing businesses in bulk, so they mostly praise some company or the other. My personal experience coincides with those of the authors in that you are better off financially by staying away from network marketing businesses. If you are business-minded, the authors recommend running a business you are really passionate about which coincides with your interests, education and/or experience. Couple the income you produce from your job and/or business with the investing principles explained in this book, you will have a solid plan and a financially successful life!
Most financial books seem to go into details about financial theories, detailed graphs, valuations, etc. This book is more about the minimum practical information an investor should know about getting his or her fair share of the market, without being victimized by some of the sharks that reside in the financial industry. A must read, first, before you learn about tilting, slicing and dicing, P/E ratios, or smart beta. After reading this book, you may decide that you really don't need to know too much more information since you will already be an above average investor; and you would be right. Highly recommended!
Money is something we all have to think about multiple times a day and those decisions have a long lasting effects on our future selves YET most of us don't get a proper education on how to manage our finances!
This book got me thinking long term. Do I need to buy the most expensive phone? Do I need a brand new car? Can I put this charge on my credit card and pay it off in full at the end of the month?
Maybe my hard earned money is better spent on my future, that one dollar saved today will be $8-$10 when I retire if I instead invest it. It taught me to not get fancy with mutual funds that peel off 1-3% in fees and instead stick to low cost index funds. That little 1% savings on fees over time could mean retiring when I am 55 or having to work another 10 years or more.
As the financial crisis was hitting the US in 2008, and the stock market was tanking I was buying. I had quickly paid off my debts and my standard 10% retirement savings per month went to 20%, then 30%. By 2009 I was putting away nearly 50% of my income into my retirement and brokerage accounts.
Ten years later I am debt free and in a much better financial situation than my peers. Buy this book, educate yourself and invest in your future.