Selasa, 18 November 2014

[E982.Ebook] Download PDF Rational Expectations: Asset Allocation for Investing Adults (Investing for Adults) (Volume 4), by William J Bernstein

Download PDF Rational Expectations: Asset Allocation for Investing Adults (Investing for Adults) (Volume 4), by William J Bernstein

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Rational Expectations: Asset Allocation for Investing Adults (Investing for Adults) (Volume 4), by William J Bernstein

Rational Expectations: Asset Allocation for Investing Adults (Investing for Adults) (Volume 4), by William J Bernstein



Rational Expectations: Asset Allocation for Investing Adults (Investing for Adults) (Volume 4), by William J Bernstein

Download PDF Rational Expectations: Asset Allocation for Investing Adults (Investing for Adults) (Volume 4), by William J Bernstein

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Rational Expectations: Asset Allocation for Investing Adults (Investing for Adults) (Volume 4), by William J Bernstein

Rational Expectations is a clean sheet of paper in the wonky world of quantitatively based asset allocation aimed at small investors. Continuing the theme of the Investing for Adults series, this full-length finance title is not for beginners, but rather assumes a fair degree of quantitative ability and finance knowledge. If you think you can time the market or pick stocks and mutual fund managers, or even if you think that you can formulate an optimally efficient mean-variance asset allocation with a black box, then learn some basic finance and come back in a few years. On the other hand, if you know your way around risk premiums and standard deviations and know who Irving Fisher and Benjamin Graham were, and if you want to sharpen your asset class skills, you’ve come to the right place.

  • Sales Rank: #229838 in Books
  • Published on: 2014-05-28
  • Original language: English
  • Number of items: 1
  • Dimensions: 9.00" h x .49" w x 6.00" l, .64 pounds
  • Binding: Paperback
  • 214 pages

Most helpful customer reviews

0 of 0 people found the following review helpful.
Excellent book - good long term strategies
By Bret M. Rice
I thought this was an excellent read and the overall philosophy fits very well into a conservative, low cost, long term view of investing. If you like Mr. Bogle of Vanguard, you will also like this book. Although Bernstein goes into a few concepts that are more varied and interesting to consider.

29 of 31 people found the following review helpful.
Good but not great. Lacks some key chapters. The Intelligent Asset Allocator is still his best work.
By TommyGunn
Good but not great. Bernstein discusses the extremes of equity (risk) products and government bonds (safe) products, and the importance of separating the two. Some good advice there, as well as consideration of premiums such as value, momentum, etc.

But he pays only lip service to corporate bonds, and gives no consideration at all to several important intermediate risk asset categories (emerging market bonds, developed market ex-US bonds, high yield bonds, convertible securities, preferred shares, foreign REITs, etc.) It would also have been nice if he had provided an appendix with several sample portfolio allocations for different age and risk tolerance profiles. After all the buildup in his verbiage and empirical evidence, I was quite underwhelmed that he didn't add at least a few sample index allocation profiles as starting points/roadmaps. I love Bernstein's work but this reads more like an 80% complete draft than a finished tome.

14 of 14 people found the following review helpful.
Not for the uninitiated
By James R. Cole
Great for followers of Dr. Bernstein and for others who feel they have mastered the basics of personal investing. Not a good first investment book or one for readers not interested in following a bit of college level math and statistics.

See all 53 customer reviews...

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