Index Funds: The 12-Step Program for Active Investors
The financial services industry has a dark secret, one that costs global investors about $2.5 trillion per year. This secret quietly drains the investment portfolios and retirement accounts of almost every investor. In 1900, French mathematician, Louis Bachelier, unsuspectingly revealed this disturbing fact to the world. Since then, hundreds of academic studies have suppor...more
Hardcover, 392 pages
Published June 16th 2006 by Ifa Publishing Inc
(first published January 30th 2005)
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Just the other day at work, a co-worker came to my office to show me the 12-month returns for various asset classes. Whether it was international companies, small companies, large companies, stocks or bonds, they had all gone down over the past year. She has all her money safely tucked away in Treasuries, the only asset class to show a positive return on her print-out, so in her mind her strategy to take everything out of the stock market a couple of months ago was the right decision. The expres...more