- Series: Professional Finance & Investment
- Hardcover: 224 pages
- Publisher: McGraw-Hill Education; 1 edition (October 13, 2000)
- Language: English
- ISBN-10: 0071362363
- ISBN-13: 978-0071362368
- Product Dimensions: 6.2 x 0.9 x 9.3 inches
- Shipping Weight: 1.2 pounds (View shipping rates and policies)
- Average Customer Review: 4.3 out of 5 stars See all reviews (129 customer reviews)
- Amazon Best Sellers Rank: #32,615 in Books (See Top 100 in Books)
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
Other Sellers on Amazon
+ $3.99 shipping
+ $3.99 shipping
The Intelligent Asset Allocator: How to Build Your Portfolio to Maximize Returns and Minimize Risk (Professional Finance & Investment) Hardcover – October 13, 2000
|New from||Used from|
See the Best Books of 2017 So Far
Looking for something great to read? Browse our editors' picks for the best books of the year so far in fiction, nonfiction, mysteries, children's books, and much more.
Frequently bought together
Customers who bought this item also bought
A practicing neurologist in remote coastal Oregon, Bernstein comes to the problems of saving and investing not from a broker's perspective, but as someone who had to figure this out himself, from first principles up.
From the Back Cover
Time-Tested Techniques - Safe, Simple, and Proven Effective - for Building Your Own Investment Portfolio.
"As its title suggest, Bill Bernstein's fine book honors the sensible principles of Benjamin Graham in the Intelligent Investor Bernstein's concepts are sound, his writing crystal clear, and his exposition orderly. Any reader who takes the time and effort to understand his approach to the crucial subject of asset allocation will surely be rewarded with enhanced long-term returns."
- John C. Bogle, Founder and former Chief Executive Officer, The Vanguard Group President, Bogle Financial Markets Research Center Author, common Sense on Mutual Funds.
"Bernstein has become a guru to a peculiarly '90s group: well-educated, Internet-powered people intent on investing well - and with minimal 'help' from professional Wall Street."
- Robert Barker, Columnist, BusinessWeek.
"I go home and tell my wife sometimes, 'I wonder if [Bernstein] doesn't know more than me.' It's humbling."
- John Rekenthaler, Research Chief, Morningstar Inc.
William Bernstein is an unlikely financial hero. A practicing neurologist, he used his self-taught investment knowledge and research to build one of today's most respected investor's websites. Now, let his plain-spoken The Intelligent Asset Allocator show you how to use the time-honored techniques of asset allocation to build your own pathway to financial security - one that is easy-to-understand, easier-to-apply, and supported by 75 years of solid history and wealth-building results.
Browse award-winning titles. See more
If you are a seller for this product, would you like to suggest updates through seller support?
Top Customer Reviews
I enjoy thinking about asset allocation and how to best structure a portfolio. No matter what studies you may trust the most, asset allocation is clearly a major driver of portfolio returns. This book invites you to deconstruct your assumptions and build them back up again. I would have liked a book ten times as long, but then I really enjoy seeing all the intricacies. Even so, there is a lot hinted at in these pages that gives you further directions to explore. Even if you are familiar with diversification, various asset classes, portfolio theory and the reasons for indexing, there is a lot of value here. I will admit the book is growing somewhat dated with respect to the time frame it discusses, but the book loses nothing in relevance.
I am still building assets, and because this book referenced both standard and aggressive growth portfolios (I employ a portfolio very similar to the 'Madonna' Portfolio he mentions, with a couple key differences), I knew I was on the same trail as the author, which was incredibly gratifying for me. For those with different backgrounds, the insights you find relevant may differ.
I will say the book would benefit from a greater discussion of various portfolios. How important is it to mimic the market (or rather, what is the risk associated with failing to look like the market, which is true to some degree of every portfolio?) What is the role of TIPS in a portfolio (or rather, when does Inflation become a central risk? I maintain that you only need them in retirement, but am eager to hear different opinions.) How much risk should you take with the credit portion of your portfolio (I use intermediate term treasuries myself - covariance vs equities is just too superior not to, even with the risk of rising rates. Again, I like to hear other opinions.)
With reference to portfolios I've read about: the 'Gone Fishing Portfolio' was also amazingly comprehensive, if not as focussed on portfolio building as the IAA, and the portfolio it proposes is pretty solid. Swenson's books are very good, and his suggested portfolio is top notch, if history is any judge. Swedroe suggests a pretty bullet-proof portfolio, so even though returns won't blow you out of the water, they should be solid, and the ride should be serene (which can be very important in a retirement portfolio, as lack of volatility both increases SAFEMAX and decreases the odds of running out of money early... i.e. the trade-off for lower returns can yield a higher cash flow.) All of these authors are worth the read.
It is a somewhat elaborate presentation of why "asset allocation" is so widespread and used by financial planners. Because, it spends a boring amount of time justifying the arguments that asset allocation reduces risk, while only shaving a fraction off of return. But the average layman, who can & will succeed at building wealth can just as easily read Ferri's "All About Asset Allocation". That person will get a broader picture of the art. An understandable explanation of the same arguments in this book. And some practical suggestions of potential portfolios, which this book does not present.
It is awesome for professionals and personal investors who want to allocate assets based on sound principles and an awareness of the money management industry's many biases. For the modern investor, this book is more important than anything written by Buffett, Graham, Fisher, etc.