In The Four Pillars of Investing, Second Edition: Lessons for Building a Winning Portfolio, author William J Bernstein, a retired neurologist and co-founder of investment management firm Efficient Frontier Advisors, provides a comprehensive guide that offers important insights and practical strategies for creating and maintaining a successful investment portfolio.
The book, first published in 2002, gives investors a strong foundation in financial principles. Bernstein sets out four key pillars that serve as the bedrock: theory, history, psychology, and business. These pillars together function like the four legs of a chair and are the guiding principles for making good investment decisions.
The...
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