Stocks for the Long Run, 4th Edition: The Definitive Guide to Financial Market Returns & Long Term Investment Strategies

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McGraw Hill Professional, Dec 18, 2007 - Business & Economics - 436 pages
3 Reviews

Stocks for the Long Run set a precedent as the most complete and irrefutable case for stock market investment ever written. Now, this bible for long-term investing continues its tradition with a fourth edition featuring updated, revised, and new material that will keep you competitive in the global market and up-to-date on the latest index instruments.

Wharton School professor Jeremy Siegel provides a potent mix of new evidence, research, and analysis supporting his key strategies for amassing a solid portfolio with enhanced returns and reduced risk. In a seamless narrative that incorporates the historical record of the markets with the realities of today's investing environment, the fourth edition features:

  • A new chapter on globalization that documents how the emerging world will soon overtake the developed world and how it impacts the global economy
  • An extended chapter on indexing that includes fundamentally weighted indexes, which have historically offered better returns and lower volatility than their capitalization-weighted counterparts
  • Insightful analysis on what moves the market and how little we know about the sources of big market changes
  • A sobering look at behavioral finance and the psychological factors that can lead investors to make irrational investment decisions

A major highlight of this new edition of Stocks for the Long Run is the chapter on global investing. With the U.S. stock market currently holding less than half of the world's equity capitalization, it's important for investors to diversify abroad. This updated edition shows you how to create an “efficient portfolio” that best balances asset allocation in domestic and foreign markets and provides thorough coverage on sector allocation across the globe.

Stocks for the Long Run is essential reading for every investor and advisor who wants to fully understand the market-including its behavior, past trends, and future influences-in order to develop a prosperous long-term portfolio that is both safe and secure.

 

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Excellent book about the fundamentals.

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User Review  - yankeesfan02 - Overstock.com

very informative. I bought this book as a gift for my dad who is really into stocks and he uses it as a reference for buying and trading. He likes it a lot. Read full review

Contents

Part 2 Valuation Style Investing and Global Markets
93
Part 3 How the Economic Environment Impacts Stocks
185
Part 4 Stock Fluctuations in the Short Run
249
Part 5 Building Wealth Through Stocks
339
Index
367
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Page 323 - We find that whole communities suddenly fix their minds upon one object, and go mad in its pursuit ; that millions of people become simultaneously impressed with one delusion, and run after it, till their attention is caught by some new folly more captivating than the first.
Page 286 - The outstanding fact is the extreme precariousness of the basis of knowledge on which our estimates of prospective yield have to be made. Our knowledge of the factors which will govern the yield of an investment some years hence is usually very slight and often negligible.
Page 284 - Investment based on genuine long-term expectation is so difficult to-day as to be scarcely practicable. He who attempts it must surely lead much more laborious days and run greater risks than he who tries to guess better than the crowd how the crowd will behave; and, given equal intelligence, he may make more disastrous mistakes.

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About the author (2007)

Jeremy J. Siegel is the Russell E. Palmer Professor of Finance at The Wharton School of the University of Pennsylvania, the academic director of the Securities Industry Institute, and a senior investment strategy advisor to WisdomTree Investments, which creates and markets exchange-traded funds.

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