Create a winning portfolio by understanding the realities of modern investing
In Enrich Your Future: The Keys to Successful Investing, prolific author and investor Larry Swedroe shines light on the foundation of modern investing, enabling readers to create winning portfolios through simple yet effective strategies. Through a combination of analogies, personal anecdotes, and empirical evidence from peer reviewed journals, the book clearly explains how to play the winner’s game, instead of simply following the crowd, speculating, and making brokers and fund families wealthy in the process.
The book begins by first explaining how to put your portfolio on the right path, then how to keep a steady course during market uncertainty, when many investors fall victim to human nature, lose perspective, and make incorrect investment decisions based on fear and greed.
In this book, readers will learn:
How prices of securities are established and why it's so difficult to outperform on a risk-adjusted basis How to navigate various key decision points when designing your portfolio How to develop a conceptually sound investment strategy and reach your financial goals faster How playing the winner’s game in investing will improve the quality of your life as well.
Revealing the true nature of the modern financial market and changing the way readers approach investing in general, Enrich Your Future: The Keys to Successful Investing is an essential guide for individual investors and financial advisors seeking to make more informed and prudent investment decisions.
By:
Larry E. Swedroe
Imprint: John Wiley & Sons Inc
Country of Publication: United States
Dimensions:
Height: 234mm,
Width: 163mm,
Spine: 28mm
Weight: 476g
ISBN: 9781394245444
ISBN 10: 1394245440
Pages: 320
Publication Date: 12 March 2024
Audience:
General/trade
,
ELT Advanced
Format: Hardback
Publisher's Status: Active
Also by Larry E. Swedroe xiii Foreword xvii Introduction xxiii Part One: How Markets Work: How Security Prices Are Determined and Why It’s So Difficult to Outperform Chapter 1: The Determinants of the Risk and Return of Stocks and Bonds 3 Chapter 2: How Markets Set Prices 9 Chapter 3: Persistence of Performance 27 Chapter 4: Why Is Persistent Outperformance So Hard to Find? 35 Chapter 5: Great Companies Do Not Make High- Return Investments 39 Chapter 6: Market Efficiency and the Case of Pete Rose 47 Chapter 7: The Value of Security Analysis 51 Chapter 8: Be Careful What You Ask For 55 Chapter 9: The Fed Model and the Money Illusion 59 Part Two: Strategic Portfolio Decisions Chapter 10: When Even the Best Aren’t Likely to Win the Game 67 Chapter 11: The Demon of Chance 73 Chapter 12: Outfoxing the Box 79 Chapter 13: Between a Rock and a Hard Place 83 Chapter 14: Stocks Are Risky No Matter How Long the Horizon 87 Chapter 15: Individual Stocks Are Riskier Than Investors Believe 91 Chapter 16: All Crystal Balls Are Cloudy 97 Chapter 17: There Is Only One Way to See Things Rightly 105 Chapter 18: Black Swans and Fat Tails 109 Chapter 19: Is Gold a Safe Haven Asset? 115 Chapter 20: A Higher Intelligence 121 Part Three: Behavioral Finance: We Have Met the Enemy and He Is Us Chapter 21: You Can’t Handle the Truth 127 Chapter 22: Some Risks Are Not Worth Taking 133 Chapter 23: Framing the Problem 137 Chapter 24: Why Do Smart People Do Dumb Things? 143 Chapter 25: Battles Are Won Before They Are Fought 153 Chapter 26: Dollar Cost Averaging 161 Chapter 27: Pascal’s Wager and the Making of Prudent Decisions 167 Chapter 28: Buy, Hold, or Sell, and the Endowment Effect 173 Chapter 29: The Drivers of Investor Behavior 177 Chapter 30: The Economically Irrational Investor Preference for Dividend- Paying Stocks 185 Chapter 31: The Uncertainty of Investing 193 Part Four: Playing the Winner’s Game in Life and Investing Chapter 32: The 20- Dollar Bill 199 Chapter 33: An Investor’s Worst Enemy 205 Chapter 34: Bear Markets 211 Chapter 35: Mad Money 219 Chapter 36: Fashions and Investment Folly 227 Chapter 37: Sell in May and Go Away 233 Chapter 38: Chasing Spectacular Fund Performance 235 Chapter 39: Enough 239 Chapter 40: The Big Rocks 243 Chapter 41: A Tale of Two Strategies 249 Chapter 42: How to Identify an Advisor You Can Trust 253 Conclusion 257 Appendix A: Implementation: Recommended Investment Vehicles 261 Notes 271 Acknowledgments 285 Index 287
LARRY E. SWEDROE is head of financial and economic research for Buckingham Wealth Partners. A prolific writer and contributor to multiple national outlets, he has authored eight books, co-authored nine others, and was among the first authors to publish a book explaining the science of investing in layman’s terms.
