The Investor's Manifesto: Preparing for Prosperity, Armageddon, and Everything in Between

"So how do we take care of ourselves? Easy. I believe The Investor's Manifesto: Preparing for Prosperity, Armageddon and Everything in Between is the shortest and most lucid explanation of index investing and simple asset allocation yet written. . . . This is a must-read book." — Scott Burns , Syndicated Columnist and Principal of Assetbuilder.com From the Inside Flap As recently as a generation or two ago, the lack of financial ability wasn't a handicap for the average person. But in today's world—where most of us have been forced to manage our own investment and retirement portfolios—it has become essential to understand the finer points of our financial life. While the meltdown of 2008–2009 has compounded the complexity of the investment landscape, timeless investment principles can help you navigate even the toughest investment terrain. That's why bestselling author William Bernstein—a grassroots hero to independent investors—has written The Investor's Manifesto. Approaching the problems of investing and saving from the perspective of someone who has had to figure it out for himself, Bernstein knows firsthand how difficult these endeavors can be—especially for those with little professional experience in this arena. Now, with the current market maelstrom as a backdrop, he skillfully describes what it takes to plan for a lifetime of investing, discussing stocks and bonds as well as the relationship between risk and return. 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 history Explores the theoretical basis of investing and designing portfolios, drawn in large part from financial history Offers insights on dealing with the emotions and attitudes that routinely cripple investors Offers insights on dealing with the emotions and attitudes that routinely cripple investors Discusses how to deal with the investment industry when executing strategies designed for anything from saving for retirement to putting a child through college Discusses how to deal with the investment industry when executing strategies designed for anything from saving for retirement to putting a child through college Addresses ways in which individual investors can construct diversified portfolios that can blunt potentially damaging market forces Addresses ways in which individual investors can construct diversified portfolios that can blunt potentially damaging market forces Covers the concept of Pascal's Wager—which will enable you to identify and avoid worst-case investing scenarios Covers 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. Praise for The Investor's Manifesto "Bill Bernstein's impassioned new book is indeed a manifesto—a call to action for Main Street investors to free themselves from exploitation by Wall Street money moguls; to understand the brute principles that ultimately determine stock market returns; and to establish the sound and simple strategies necessary for investment success. The Investor's Manifesto is a grand-slam home run." — John C. Bogle, founder of the Vanguard Group, Inc . "This is the investment book that my kids, step-kids, and sisters will read, remember, and thank me for. Bernstein's way with ideas and words means that for all of them, practical investment is no longer too hard or too dull to master. The ahaaa moment for me was finding out what Bernstein is recommending to his readers now." — Ed Tower, Professor of Economics, Duke University " The Investor's Manifesto is packed with wisdom and charmingly written. It belongs on every investor's bookshelf." — Burton G. Malkiel, author of A Random Walk Down Wall Street "There is no better writer on investing than William Bernstein. If he has written it, it is a must-read. Whether you are just beginning your journey or already in retirement, this book is an invaluable guide filled with pearls of wisdom." — Larry Swedroe, Principal and Director of Research, The Buckingham Family of Financial Services, author of Wise Investing Made Simple and The Only Guide You'll Ever Need series "In The Investor's Manifesto , author William Bernstein, PhD, MD, has condensed his long experience and intellectual wisdom into an easy-to-read and easy-to-understand book that deserves to be on the bookshelf of every serious investor." — Taylor Larimore, coauthor of The Bogleheads' Guide to Investing and The Bogleheads' Guide to Retirement Planning " The Investor's Manifesto brilliantly lays out timeless investment strategies in a clear, easy-to-understand manner. Whether an investing novice or an experienced investor, Bill Bernstein helps you recover from the market decline and build a solid financial future. Longtime Bernstein fans find the answer to the question 'What would Bill do?'" — Laura F. Dogu, coauthor of The Bogleheads' Guide to Retirement Planning William J. Bernstein, PhD, MD , is a bestselling author known as a grassroots hero to independent investors. Formerly a practicing neurologist, Bernstein approaches the problems of saving and investing as someone who had to figure it out for himself—from first principles up. He is the author of The Intelligent Asset Allocator and The Four Pillars of Investing —highly regarded, plain-spoken guides on how to build a diversified portfolio without the help of a financial advisor—the editor of the asset allocation journal Efficient Frontier , and the founder of the popular Web site efficientfrontier.com. He has also written two volumes of economic history, The Birth of Plenty and A Splendid Exchange , and is a coprincipal in Efficient Frontier Advisors. Read more