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All About Asset Allocation, Second Edition (Professional Finance & Investment) Paperback – June 21, 2010
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About the Author
Richard A. Ferri, CFA, is president and senior portfolio manager of Portfolio Solutions, LLC, and an adjunct professor of finance at Walsh College in Michigan. He is the author of Protecting Your Wealth in Good Times and Bad, All About Index Funds, and Serious Money: Straight Talk About Investing for Retirement. Ferri is regularly quoted in the media including the Wall Street Journal, Barrons, Businessweek, and Forbes. He has appeared on many financial radio shows and television programs and is a frequent speaker at advisor industry events.
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Top customer reviews
Then include: Swedroe, Bernstein, Bogle, Larimore, Buffet. Get them. Then get online to the "Bogleheads forum", or Morningstar forum.
They are a must for personal investment finance for retirees and those working toward a healthy retirement.
This is the first investment book I've ever read. I purchased it on the recommendation of an investment podcaster I respect. It has helped me develop a plan for myself and my long-term investment strategy. I wouldn't say it's a beginner's book though. To me, it seemed the author assumed the reader knew some basics about investing and could follow his analysis.
The premise of the book is based upon several studies the author leans upon to demonstrate that at some level, sometimes a small level, a diversification benefit is gained by putting money in asset classes that are not directly affected by the stock market. The author does a nice job giving the reader low-cost, no load index mutual funds or ETF's at the end of most chapters as starter points to look at investing in those particular asset classes.
I agree with some of the other reviewers, the editor needs looked at typographical errors abound. They don't take away from the book, but make it appear less than professional...hence the 4 stars instead of 5.
The mistake I made was buying it on the Kindle. It was a complete accident. Because he refers to charts that can be a page or two back from your current Kindle page, it made it a pain to flip back and forth when I suspect the book would be easier to deal with. But, I put that mistake on me for being in a rush.
I got a lot of valuable information from this book. For one thing, it deals with the allocation of the fixed income portion of the portfolio --- something no other book that I'm aware of has done. And this is important.
There's really nothing that this book doesn't cover when it comes to asset allocation. It certainly helped me to get my own portfolio back in shape.
It talks about your real tolerance for risk --- not those that you get from tests. It says that most of us have less tolerance than we admit. I think that's true. We talk like we can handle a lot of risk when in truth, we can't. This is good to know.
Asset allocation is a critical part of investing. It doesn't matter if you're a small investor or a big one. You need help with asset allocation. And you can't depend on the pros to give you any help.
If you invest at all, you should read this book and keep it handy. You'll need it to guide you from time to time when you reallocate --- as you should and as you need to.
The book talks mostly in terms of index funds. But it can be used for any sort of investing. It's especially helpful, however, for those who invest in index funds, mutual funds and etf accounts.
The one thing the book seemed to lack was an explanation as to how exactly diversification spreads or, one should say, lessens the risk and how each allocation does so.