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Index Funds: The 12-Step Recovery Program for Active Investors [Kindle Edition]

Mark T. Hebner , Harry M. Markowitz
4.2 out of 5 stars  See all reviews (34 customer reviews)

Print List Price: $7.99
Kindle Price: $2.99
You Save: $5.00 (63%)

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Book Description

UPDATED for 2015 - This book reveals the potential land mines and pitfalls of active investing and educates readers on the benefits of passive investing with index funds. Hebner's book details the possible perils associated with stock picking, mutual fund manager picking, market timing, and other wealth depleting behaviors. This 12-Step Program teaches the differences between active and passive investing, explains the emotional triggers that impact investment decisions, and offers an enlightening education on science-based investing that may forever change the way an investor perceives the stock market. Hebner sets forth a sound strategy that involves risk-appropriate investing that may empower investors to lead a more profitable and relaxed life.


Editorial Reviews

Review

"Hebner gives us good advice presented in a very appealing manner. Index Funds remains one of the most valuable investment guides available."
--Burton Malkiel, Ph,D., Professor of Economics, Princeton University and author of A Random Walk Down Wall Street

"It is really beautiful and really well done. I plan to use it as a reference guide."
--David Booth, Chairman and Co-Chief Executive Officer, Dimensional Fund Advisors, Inc., Benefactor of the University of Chicago Booth School of Business

"... as the book documents so well, a foolish attempt to beat the market and get rich quickly will make one’s broker rich and oneself much less so."
--Harry Markowitz, Ph.D., Nobel Laureate in Economics, Professor of Economics at the University of California at San Diego, Rady School of Management

"This book is WONDERFUL!"
--Theodore Aaronson, Founder of Aaronson Johnson Ortiz, Institutional Investment Manager

About the Author

Mark T. Hebner is the founder and president of Index Fund Advisors, Inc., author of ifa.com, and the book Index Funds: The 12-Step Program for Active Investors. That original book received praise from the financial industry and academic legends, including John Bogle, David Booth, Harry Markowitz, Burton Malkiel, and Paul Samuelson. This is a condensed and updated version of that book. Mark is considered a leading author, speaker, and Internet provider of investing education. He is especially knowledgeable about the superiority of index mutual funds, as well as the research indexes designed by financial economists. He earned an MBA at the University of California, Irvine.

Product Details

  • File Size: 14184 KB
  • Print Length: 318 pages
  • Publisher: Ifa Publishing, Inc.; Upd Rev edition (June 1, 2013)
  • Sold by: Amazon Digital Services, Inc.
  • Language: English
  • ASIN: B00DG8UJAY
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Not Enabled
  • Lending: Enabled
  • Amazon Best Sellers Rank: #297,832 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Most Helpful Customer Reviews
23 of 23 people found the following review helpful
5.0 out of 5 stars What a Modern Finance Book Should be.... June 16, 2012
By Tombear
Format:Hardcover
This book makes a prolific, historical documented case for index fund investing. Mark Hebner persistently and convincingly takes apart Wall St. and exposes the long-time falsehoods of the mutual fund, active management, and brokerage industry.
This is all uniquely packaged in an incredible visual journey - with rich illustrations that brings everything to life. This book raises the bar simply for what a modern-day finance book should be.

The amount of documentation and proof is incredible alone. You will see many graphs and data sets that are not published elsewhere.

Nobody beats the markets for very long and the road to speculation which non-indexers do, leads often to ruin. Wall St. simply runs an endless beauty pageant - that delivers short.

Buy this book, index invest, and receive the fair market return you deserve.

His research is documented by nobel laureate academics and topical industry evidence he meticulously obtained for our benefit. For example, he highlights info such as how little return the big brokerage clients have received as opposed to the robust returns of index fund investors/clients of index-based advisory firms.

As a final note, Mark has keen foresight (he wrote the first edition in 2007 and the namesake of his firm hinges on indexing = IFA = Index Fund Advisors) is proof of the pudding. Index fund investing is now finally mainstream as the lessons of this book has foretold. Vanguard is now the largest mutual fund firm (an index fund company) and DFA (Dimensional Funds - an index fund company) is one of the fastest growing fund firms. It's a great time to be an index fund investor. Indexes have everything to gain vs. active managers = much to lose.

Thank you to these hard working, passionate & ethical figures of finance today.

You'll find a treasure of info here and an author that delivers on his work.
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24 of 25 people found the following review helpful
5.0 out of 5 stars Gamblers Annonymous April 29, 2012
By R. Mend
Format:Hardcover
The basic facts to be culled from this book are....
1. To successfully out perform the market you must pick investments at a positive rate of 74% or better.
2. The best "so called" financial analyst "guru's" forecast accuracy (between 1997 and 2011) range from a 26% to 67% success rate.....these people don't dabble, they forecast for a living.
3. ALL legitimate financial geniuses with decades of experience agree that trying to time the market will make brokers rich and you poor.
4.Investing in a passively managed index fund will allow you to to reap returns at market levels while providing you with the ability to achieve peace of mind.
5. If you must gamble, budget for a trip to Vegas and only lose what you can afford to while actually having fun!
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17 of 17 people found the following review helpful
5.0 out of 5 stars Mark Hebner's beautiful new book June 19, 2012
Format:Hardcover
I own the original and much larger, "Index Funds" book by author, Mark Hebner. I was pleased to see he has updated the original with a shorter edition. I wasted no time reading it.

I have read hundred's of financial books and this book is the most beautiful with dozens of artistic pictures and graphs to give the reader an enjoyable reading experience. Mr. Hebner uses his vast knowledge of stock market history to inform and persuade, even the most skeptical, that indexing is now the smart way for individuals to invest. Jack Bogle will be pleased.

Taylor Larimore
Miami, Florida
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14 of 14 people found the following review helpful
Format:Hardcover
This 12-Step Program is superb!! It-teaches the differences between active and passive investing, deals with the volatility of the emotional CYCLES that impact investment decisions, and offers an enlightening education on science-based investing that may forever change the way an investor perceives the stock market. Mark Hebner has sound strategy that involves risk-appropriate investing that may empower investors to lead a more profitable, outcome. MARK IS AN EXPERT IN THIS ARENA
Don Lavoie Ph.D. Developmetrics CEO
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13 of 13 people found the following review helpful
Format:Hardcover
Building upon the academic works of Markowitz, Fama, French, Ibbotson and many other notable "pillars of finance", Mark Hebner has added his own research and style in this most enlightening and entertaining book. Written in sophisticated yet easily understandable language for the layman, you will learn how to invest wisely based upon sound academic and statistically significant research; and, equally important, how to avoid investing on the "noise" of the moment. This work ranks right up there with the books written by such greats as Jack Bogle, Benjamin Graham and Roger Hagstrom.
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11 of 11 people found the following review helpful
4.0 out of 5 stars Serious topic, lighthearted treatment April 16, 2012
Format:Hardcover
I've been aware of this 12-step outline for several years now, and the material covered here is fundamentally important to a passive investment approach. The oil paintings may be a bit hokey, the lead lines catchy, but the philosophy and underlying research materials are substantial.
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9 of 9 people found the following review helpful
5.0 out of 5 stars Superb Read; Revelatory December 19, 2012
Format:Hardcover
This book in its own right is truly a masterpiece, demystifying investing and telling it like it is, cutting through a number of misnomers and plainly spelling out just what it takes to realize honest returns on your portfolio. Like a parable, it takes you on a structured journey and ultimately leads to an epiphany-bound end, one in which you'll be thankful for arriving to. We need more proponents of proper investing like Mark Hebner; he casts a ton of light in an otherwise murky and muddled landscape; investing for your future doesn't need to be overly complicated, do yourself a great favor and service by picking up this book; the wisdom that Mark imparts is priceless. Well written and backed by a massive amount of historical data, you'll see the light too, this I'm sure of.
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Most Recent Customer Reviews
5.0 out of 5 stars The results are real
This book explains what many brokers and brokerage firms don't want you to understand -- that investing over time in low cost index mutual funds provide far superior results than... Read more
Published 28 days ago by Robert M Pullis
5.0 out of 5 stars Hebner's book is the best comprehensive book I have ever read about...
Mr. Hebner's book is the best comprehensive book I have ever read about index fund investing. His book is written in easy to understand language and covers virtually every... Read more
Published 2 months ago by Dalbey Fan
5.0 out of 5 stars Here is a simple book to explain how to optimize ...
Here is a simple book to explain how to optimize your returns systematically. If you understand to book, you will look at the financial industry with different glasses. Read more
Published 2 months ago by hskydg80
5.0 out of 5 stars The virtue of simplicity
Index Funds, by Mark Hebner is the real deal.

I am a 20-year veteran Australian financial adviser living and working in Hong Kong looking after expatriates from every... Read more
Published 2 months ago by Todd Pallett
1.0 out of 5 stars not worth the 3. 00 it cost.
not worth the 3.00 it cost.
Published 8 months ago by kme
5.0 out of 5 stars Five Stars
I love this book
Published 8 months ago by SangWon Ahn
2.0 out of 5 stars Oh no, it really is JUST an advertisement
The "useful" information in the book is to illustrate how risky it is to do any kind of investment. Read more
Published 9 months ago by Cat
5.0 out of 5 stars great read about wealth building
Really breaks down index funds any one thinking about building this is a must read
Published 9 months ago by James White
3.0 out of 5 stars This edition pairs well with information found on their website
This is a good introductory book to the idea of index funds and passive management. The whole book is talking about the Index Fund Advisors (IFA) company and their funds so... Read more
Published 9 months ago by Robert
3.0 out of 5 stars Useful information for the passive investor but...
Good description of sound investing principles along with colorful charts and graphs make this an interesting read but for those who are comfortable with managing a passive... Read more
Published 12 months ago by Lizbeth Harper
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