The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio
William J. Bernstein
Jul 2023 · McGraw Hill-Ascent Audio · Narrated by Tom Parks
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12 hr 15 min
Unabridged
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About this audiobook
The classic guide to constructing a solid portfolio-without a financial advisor! Retired neurologist and master investor William J. Bernstein has seen it all throughout his career. Buying investments with borrowed money. Chasing past performance. Overestimating one's own risk tolerance. Listening to cable news. These are just a few of the many mistakes he has witnessed smart, serious investors make, to the peril of their portfolios. Add to these behavioral errors such economic factors as deflation, sudden stock declines, and soaring inflation-and investing can seem like something to be avoided at all costs. But with the right discipline and knowledge, you can build and manage an impressive portfolio. It all comes down to understanding four key pillars: - Theory: Risk and return go hand in hand-you can't make money without risk - History: Understand past markets to understand today's markets - Psychology: Avoid the most common behavioral mistakes that tank portfolios - Business: The cost of investment services can be high-unreasonably high After taking you on a deep dive into each of these topics, Bernstein walks you through the process of designing and maintaining a powerful portfolio.
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5.0
2 reviews
Vic Brady
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September 14, 2024
Very informative and well explained.
Anil Das
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September 1, 2024
AAA
About the author
William J. Bernstein is a retired neurologist and cofounder of the investment management firm Efficient Frontier Advisors. He is the author of three finance books-The Intelligent Asset Allocator, The Four Pillars of Investing, and The Investor's Manifesto-as well as four history books.
Since recording his first book for the Kansas Audio Reader Network in 1985, Tom Parks has enjoyed giving voice to stories. He has been nominated for Audie Awards and has received several AudioFile Earphones Awards, and reviewers have described his performances as "conversational," "energetic," and "sincere."
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