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The Four Pillars of Investing: Lessons for Building a Winning Portfolio

byWilliam J. Bernstein

William J. Bernstein builds a durable approach to portfolio management around four bodies of knowledge: investment theory, financial history, investor psychology, and the business of investing. He explains risk and return, diversification, asset allocation, market manias, behavioral mistakes, and the conflicts embedded in financial advice. Rather than offering hot tips, the book shows why low costs, broad exposure, disciplined rebalancing, and realistic expectations matter over decades. It equips readers to design a sensible portfolio and, just as importantly, to maintain it through fear, excitement, and changing markets.

Publisher

McGraw Hill

Publication date

2002

Format

Print edition

Pages

316

ISBN

9780071385299