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The Elements of Investing: Easy Lessons for Every Investor Hardcover – January 22, 2013
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From the Inside Flap
Since the original edition of The Elements of Investing was published over three years ago, investors have faced difficult economic times along with unprecedented market volatility. It's not surprising that many investors simply abandoned the stock market. It seemed to be too risky a place for retirement savings, and the situation was too unnerving for most to handle. Moreover, some professionals started to announce the death of "buy and hold" and "diversification" strategies.
Burton Malkiel and Charles Ellis, two of the investment world's greatest thinkers, understand how you could get thoroughly confused by today's markets and the often-conflicting advice that comes with it. That's why they've returned with an Updated Edition of The Elements of Investing. While staying true to the original editionand discussing the timeless investing and saving lessons that will put you on a path towards a lifetime of financial successthis book also contains fresh insights found in an additional chapter on rebalancing, which focuses on important issues such as fine-tuning your bond diversification strategy to reflect the realities of today's markets.
Written with every investor in mind, this short, straight-talking book skillfully offers a set of simple, yet powerful thoughts on how to avoid Mr. Market and his "loser's game," and instead enjoy the "winner's game" approach to investing. All the investment rules and principles you need to know are herewith clear advice on how to follow them.
Divided into six essential elements of investing, this little book packs a big message that can help secure your financial future all the way through retirement. Malkiel and Ellis touch on a variety of topics, from focusing on the long term instead of following market fluctuations to using employer-sponsored plans to supercharge your savings and minimize taxes. Along the way, they also address the best friends of any investor: diversification, rebalancing, dollar-cost averaging, and indexing.
The timeless lessons presented in this book are even more relevant in today's volatile markets. If you take the time to learn them, you will be able to take control of your financial future.
From the Back Cover
THE ELEMENTS OF INVESTING
"These noted authors have distilled all you need to know about investing into a very small package. The best time to read this book is when you turn eighteen (or maybe thirteen) and every year thereafter."
Harry Markowitz, Nobel Laureate in Economics 1990
"Struggling to find money to save? Befuddled by the bewildering array of investment choices? As you venture into the financial markets for the first time, it's helpful to have a trusted guideand, in Charley Ellis and Burt Malkiel, you have two of the finest."
Jonathan Clements, author of The Little Book of Main Street Money
"No one knows more about investing than Charley Ellis and Burt Malkiel, and no one has written a better investment guide. These are the best basic rules of investing by two of the world's greatest financial thinkers."
Consuelo Mack, Anchor and Managing Editor, Consuelo Mack WealthTrack
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A great gift to family and friends who think that investing is just "too complicated" --- and not a bad thing for all of us to re-read from time-to-time!
If you are a stock picker or fret about what the market is doing on a day-to-day basis, prepare to have your world rocked, though.
Why? This is easiest way to explain the efficient market and what to do about it. It is 95% of the personal value I got from 2 degrees in finance in one very small, very easily read book. (There's a lot of professional value to a finance education, but for managing your own money this book isthe first and best place to go). If you want the long version of this book read either of the author's other books, well worth the time.
The authors are academics, and the methods they teach are proven by multitudes of real research. The theory has been attacked by thousands more but it still holds up.
I have nothing personally to gain by this review, but please do yourself the favor of reading this book and following what it teaches you'll be happy that you did.
It is great for any level of knowledge regarding savings and investing. Beginners will learn everything they need to understand the concept of saving and investing to generate returns, and experts will be reminded of the basics of why saving and investing in the stock market is something they got in to (and maybe even pick something new up in the process).
If you will only read one book on investing and saving, please let it be this one.
its recommendations, and pass it on to my spouse (who knows little about investing). Much of "Elements" restates what Prof. Malkiel has written about at greater length in his "Random Walk...." I found that aspect to be a helpful review of what I thought (not always correctly) I already knew. I recommend the book to anyone beginning to think about investing or anyone who might thnik of him- or herself as an intermediate investor.
I intend to encourage the younger generation to read this book because as the books states, the earlier, the better! Also, it's not really a difficult read.
I applaud the authors for writing this book and look forward to future editions.