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The Little Book of Common Sense Investing : the Only Way to Guarantee Your Fair Share of Stock Market Returns.
Annotation
| Clasificación: | Libro Electrónico |
|---|---|
| Autor principal: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Newark :
John Wiley & Sons, Incorporated,
2017.
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| Edición: | 2nd ed. |
| Temas: | |
| Acceso en línea: | Texto completo |
Tabla de Contenidos:
- The Little Book of Common Sense Investing; Contents; Introduction to the 10th Anniversary Edition; Chapter One A Parable The Gotrocks Family; Get rid of all your Helpers. Then your family will again reap 100 percent of the pie that corporate America bakes for you; Chapter Two Rational Exuberance: Shareholder Gains Must Match Business Gains; "Over time, the aggregate gains made by ... shareholders must of necessity match the business gains of the company; Reversion to the mean; "It is dangerous ... to apply to the future inductive arguments based on past experience."
- The dual nature of stock market returnsEnter speculative return; A return to sanity; Combining investment return and speculative return: total stock market returns; Accurately forecasting short-term swings in investor emotions is not possible. But forecasting the long-term economics of investing has carried remarkably high odds of success; The real market and the expectations market; The stock market is a giant distraction to the business of investing; Chapter Three Cast Your Lot with Business: Win by Keeping It Simple-Rely on Occam's Razor.
- Occam's razor: When there are multiple solutions to a problem, choose the simplest oneThe Total Stock Market Index; Returns earned in the stock market must equal the gross returns earned by all investors in the market; If the data do not prove that indexing wins, well, the data are wrong; Active funds versus benchmark indexes; The record of an investor in the first index mutual fund: 15,000 invested in 1976; value in 2016, 913,340; A caveat and a caution; Chapter Four How Most Investors Turn a Winner's Game into a Loser's Game: "The Relentless Rules of Humble Arithmetic."
- Before costs, beating the market is a zero-sum game. After costs, it is a loser's gameWe investors as a group get precisely what we don't pay for. If we pay nothing, we get everything; "The relentless rules of humble arithmetic."; It's amazing how difficult it is for a man to understand something if he's paid a small fortune not to understand it; 10,000 grows to 294,600 ... or to 114,700. Where did that 179,900 go?; You put up 100 percent of the capital and you assume 100 percent of the risk. But you earn less than 40 percent of the potential return.
- Costs make the difference between investment success and investment failureFund investors deserve a fair shake; Chapter Five Focus on the Lowest-Cost Funds: The More the Managers Take, the Less the Investors Make; Fund performance comes and goes. Costs go on forever; Costs are large, and too often ignored; Costs matter. A lot; The magic of compounding, again; Low costs and index funds; If the managers take nothing, the investors receive everything: the market's return; Chapter Six Dividends Are the Investor's (Best?) Friend: But Mutual Funds Confiscate Too Much of Them.