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  <title><![CDATA[The Four Pillars of Investing : Lessons for Building a Winning  Portfolio]]></title>
  <isbn><![CDATA[0071385290]]></isbn>
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  <default_description>&lt;p&gt;&lt;b&gt;Sound, sensible advice from a hero to frustrated investors everywhere&lt;/b&gt;&lt;/p&gt;  &lt;p&gt;William Bernstein's &lt;i&gt;The Four Pillars of Investing &lt;/i&gt;gives investors the tools they need to construct top-returning portfolios&#173;&#173;--without the help of a financial adviser. In a relaxed, nonthreatening style, Dr. Bernstein provides a distinctive blend of market history, investing theory, and behavioral finance, one designed to help every investor become more self-sufficient and make better-informed investment decisions. &lt;i&gt;The 4 Pillars of Investing &lt;/i&gt;explains how any investor can build a solid foundation for investing by focusing on four essential lessons, each building upon the other. Containing all of the tools needed to achieve investing success, without the help of a financial advisor, it presents:&lt;/p&gt; &lt;ul&gt; &lt;li&gt;Practical investing advice based on fascinating history lessons from the market  &lt;li&gt;Exercises to determine risk tolerance as an investor  &lt;li&gt;An easy-to-understand explanation of risk and reward in the capital markets  &lt;/ul&gt;</default_description>
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  <original_publication_month type="integer">4</original_publication_month>
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      <name><![CDATA[William J. Bernstein]]></name>
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    <review id="3883449">
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  <read_at>Mon Jan 26 14:57:45 -0800 2009</read_at>
  <date_added>Tue Jul 31 20:28:18 -0700 2007</date_added>
  <date_updated>Mon Jan 26 14:57:45 -0800 2009</date_updated>
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    <body><![CDATA[Re-reading this in light of the money meltdown. <br/><br/>----<br/>One of the best books about investing I've read.  By no means the first one you should read, but once you've got some of the basics under control, this helps takes it to a very sensible level. Asset allocation and the history of b...<a href="http://www.goodreads.com/review/show/3883449">more...</a>]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/3883449]]></url>
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    <review id="43795547">
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    <name><![CDATA[Mark]]></name>
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  <read_at>Sun Apr 01 00:00:00 -0700 2007</read_at>
  <date_added>Wed Jan 21 05:33:41 -0800 2009</date_added>
  <date_updated>Wed Jan 21 05:44:43 -0800 2009</date_updated>
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    <body><![CDATA[This is an extremely practical book on saving and investing. It gives a brief history of investing, going back around 400 years to give a good feel for how risk and return work. It covers the basics of calculating returns, and how to think about money over time. It teaches the simple mechanics of cr...<a href="http://www.goodreads.com/review/show/43795547">more...</a>]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/43795547]]></url>
</review>
    <review id="23776581">
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    <name><![CDATA[Mark]]></name>
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  <read_at></read_at>
  <date_added>Thu Jun 05 10:32:40 -0700 2008</date_added>
  <date_updated>Thu Jun 05 10:33:00 -0700 2008</date_updated>
  <read_count></read_count>
    <body><![CDATA[a very good book with lots of good advice about investing with enough technical data to have relevance but written well enough that a novice can understand. He breaks up the fundamentals of investing into four main parts with the last part giving an overall view about how to set up your portfolio. T...<a href="http://www.goodreads.com/review/show/23776581">more...</a>]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/23776581]]></url>
</review>
    <review id="22751100">
    <user id="1140580">
    <name><![CDATA[Krenzel]]></name>
    <location><![CDATA[Columbus, OH]]></location>        
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  <read_at>Wed Jun 11 00:00:00 -0700 2008</read_at>
  <date_added>Thu May 22 09:15:42 -0700 2008</date_added>
  <date_updated>Fri Jun 20 06:43:55 -0700 2008</date_updated>
  <read_count></read_count>
    <body><![CDATA[In the introduction to his book, &quot;The Four Pillars of Investing:  Lessons for Building a Winning Portfolio,&quot; Dr. William Bernstein states that the &quot;competent investor never stops learning.&quot;  Yet, because the world of investing can be such a confusing place, it sometimes seems tha...<a href="http://www.goodreads.com/review/show/22751100">more...</a>]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/22751100]]></url>
</review>
    <review id="34477531">
    <user id="950726">
    <name><![CDATA[Trevor]]></name>
    <location><![CDATA[San Jose, CA]]></location>        
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    <rating>5</rating>
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  <recommended_by><![CDATA[Chris Colburn]]></recommended_by>
  <read_at>Sun Oct 26 00:00:00 -0700 2008</read_at>
  <date_added>Fri Oct 03 19:05:37 -0700 2008</date_added>
  <date_updated>Sun Oct 26 22:06:58 -0700 2008</date_updated>
  <read_count>1</read_count>
    <body><![CDATA[I strongly recommend this book! It's great for anyone who wants to really understand how markets works and how to best approach the world of investing. However, to really get the most out of this book I would recommend having at least some knowledge of basic investment options before reading. It wou...<a href="http://www.goodreads.com/review/show/34477531">more...</a>]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/34477531]]></url>
</review>
    <review id="64112958">
    <user id="1697430">
    <name><![CDATA[Jonathan]]></name>
    <location><![CDATA[Toronto, Canada]]></location>        
    <url><![CDATA[http://www.goodreads.com/user/show/1697430-jonathan]]></url>
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  <average_rating>4.11</average_rating>
  <image_url>http://photo.goodreads.com/books/1170965788m/79351.jpg</image_url>
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    <rating>4</rating>
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  <read_at>Tue May 01 00:00:00 -0700 2007</read_at>
  <date_added>Sun Jul 19 12:39:41 -0700 2009</date_added>
  <date_updated>Sun Jul 19 12:41:43 -0700 2009</date_updated>
  <read_count></read_count>
    <body><![CDATA[An excellent basic read which goes through the most fundamental principles of portfolio management, as advertised.  Non-technical.  Doesn't do a lot to discuss assessment or valuation techniques -- it mostly prescribes a passive strategy.]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/64112958]]></url>
</review>
    <review id="16377770">
    <user id="267189">
    <name><![CDATA[Todd]]></name>
    <location><![CDATA[Palo Alto, CA]]></location>        
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    <rating>5</rating>
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  <recommended_for><![CDATA[]]></recommended_for>
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  <read_at>Thu Feb 28 00:00:00 -0800 2008</read_at>
  <date_added>Mon Feb 25 20:47:30 -0800 2008</date_added>
  <date_updated>Mon Jun 02 23:24:04 -0700 2008</date_updated>
  <read_count></read_count>
    <body><![CDATA[Cheesy title, great book. I'm in the middle of his Intelligent Asset Allocator, which has a lot more math.<br/><br/>Here are the four pillars to save you some time:<br/>1. Theory (how to price, why you should index)<br/>2. History (Did you know the interest rate in ancient rome was 4%? You shoul...<a href="http://www.goodreads.com/review/show/16377770">more...</a>]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/16377770]]></url>
</review>
    <review id="50256758">
    <user id="85605">
    <name><![CDATA[Elizabeth]]></name>
    <location><![CDATA[Anchorage, AK]]></location>        
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    <rating>3</rating>
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  <read_at>Mon Mar 23 00:00:00 -0700 2009</read_at>
  <date_added>Mon Mar 23 22:28:36 -0700 2009</date_added>
  <date_updated>Mon Mar 23 22:30:01 -0700 2009</date_updated>
  <read_count></read_count>
    <body><![CDATA[A great overview of smart investing and avoiding sheep-like behavior.]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/50256758]]></url>
</review>
    <review id="41809815">
    <user id="1861874">
    <name><![CDATA[Zack]]></name>
    <location><![CDATA[London, CA, The United Kingdom]]></location>        
    <url><![CDATA[http://www.goodreads.com/user/show/1861874-zack]]></url>
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  <average_rating>4.11</average_rating>
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    <rating>5</rating>
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  <read_at>Mon Jan 01 00:00:00 -0800 2007</read_at>
  <date_added>Sun Jan 04 00:46:59 -0800 2009</date_added>
  <date_updated>Sun Jan 04 00:48:17 -0800 2009</date_updated>
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    <body><![CDATA[A masterpiece.  Worth every cent in gold.  Go and buy this book!]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/41809815]]></url>
</review>
    <review id="4498284">
    <user id="275089">
    <name><![CDATA[Nathaniel]]></name>
    <location><![CDATA[Pittsburgh, PA]]></location>        
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    <rating>4</rating>
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  <read_at>Mon Jan 01 00:00:00 -0800 2007</read_at>
  <date_added>Mon Aug 13 16:59:50 -0700 2007</date_added>
  <date_updated>Mon Aug 13 17:04:18 -0700 2007</date_updated>
  <read_count></read_count>
    <body><![CDATA[Another excellent addition to the library of the long-term index investor, this work present a fascinating history of financial markets, both worldwide and in the U.S. in particular.  Bernstein then moves on to provide practical but general investing advice, making insightful suggestions and encoura...<a href="http://www.goodreads.com/review/show/4498284">more...</a>]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/4498284]]></url>
</review>
    <review id="18551632">
    <user id="1017143">
    <name><![CDATA[Harland]]></name>
    <location><![CDATA[The United States]]></location>        
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  <recommended_by><![CDATA[]]></recommended_by>
  <read_at>Mon Jul 09 00:00:00 -0700 2007</read_at>
  <date_added>Mon Mar 24 18:17:02 -0700 2008</date_added>
  <date_updated>Tue Mar 25 09:27:41 -0700 2008</date_updated>
  <read_count></read_count>
    <body><![CDATA[Bernstein is a former medical doctor who decided that it was somehow easier to bring common sense and intellectual flair to personal finance than perform neurosurgery.  Fortunately for him, most of the readers will probably already be adherents to the Vanguard/Boglehead philosophy of investing: keep...<a href="http://www.goodreads.com/review/show/18551632">more...</a>]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/18551632]]></url>
</review>
    <review id="5437469">
    <user id="331216">
    <name><![CDATA[Junior]]></name>
    <location><![CDATA[The United States]]></location>        
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  <title>The Four Pillars of Investing : Lessons for Building a Winning  Portfolio</title>
  <average_rating>4.11</average_rating>
  <image_url>http://photo.goodreads.com/books/1170965788m/79351.jpg</image_url>
  <link>http://www.goodreads.com/book/show/79351.The_Four_Pillars_of_Investing_Lessons_for_Building_a_Winning_Portfolio</link>
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    <rating>4</rating>
  <votes>0</votes>
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  <read_at>Mon Jan 01 00:00:00 -0800 2007</read_at>
  <date_added>Fri Aug 31 13:15:29 -0700 2007</date_added>
  <date_updated>Fri Aug 31 13:18:21 -0700 2007</date_updated>
  <read_count></read_count>
    <body><![CDATA[I really enjoyed this book, but think I would have been a bit lost if I hadn't read some other basic investing books beforehand, not tons, just a couple like a Dummies Guide, or Bogle's Little Book...,etc.  Wonderfully full of academic research and examples of index investing.]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/5437469]]></url>
</review>
    <review id="41612903">
    <user id="1711405">
    <name><![CDATA[Ryan]]></name>
    <location><![CDATA[]]></location>        
    <url><![CDATA[http://www.goodreads.com/user/show/1711405-ryan]]></url>
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  <average_rating>4.11</average_rating>
  <image_url>http://photo.goodreads.com/books/1170965788m/79351.jpg</image_url>
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    <rating>4</rating>
  <votes>0</votes>
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  <read_at>Thu Jan 01 00:00:00 -0800 2009</read_at>
  <date_added>Fri Jan 02 10:45:01 -0800 2009</date_added>
  <date_updated>Sun Feb 08 10:35:16 -0800 2009</date_updated>
  <read_count></read_count>
    <body><![CDATA[Good solid introduction to the fundamentals. Made me want to go read the Bogle set of books... those are good as well.]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/41612903]]></url>
</review>
    <review id="28172757">
    <user id="766150">
    <name><![CDATA[Holly]]></name>
    <location><![CDATA[Columbus, OH]]></location>        
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  <title>The Four Pillars of Investing : Lessons for Building a Winning  Portfolio</title>
  <average_rating>4.11</average_rating>
  <image_url>http://photo.goodreads.com/books/1170965788m/79351.jpg</image_url>
  <link>http://www.goodreads.com/book/show/79351.The_Four_Pillars_of_Investing_Lessons_for_Building_a_Winning_Portfolio</link>
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    <rating>5</rating>
  <votes>0</votes>
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  <recommended_for><![CDATA[]]></recommended_for>
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  <read_at>Thu Aug 07 00:00:00 -0700 2008</read_at>
  <date_added>Thu Jul 24 11:24:32 -0700 2008</date_added>
  <date_updated>Thu Aug 07 07:34:28 -0700 2008</date_updated>
  <read_count></read_count>
    <body><![CDATA[Excellent book on investing!  I think this book is one that everyone who manages their own finances should read and all financial advisers should read as well!  Highly recommend!  I think this will be an excellent reference book to keep on my shelf.]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/28172757]]></url>
</review>
    <review id="26079705">
    <user id="1291198">
    <name><![CDATA[Bpeterik]]></name>
    <location><![CDATA[The United States]]></location>        
    <url><![CDATA[http://www.goodreads.com/user/show/1291198-bpeterik]]></url>
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  <title>The Four Pillars of Investing : Lessons for Building a Winning  Portfolio</title>
  <average_rating>4.11</average_rating>
  <image_url>http://photo.goodreads.com/books/1170965788m/79351.jpg</image_url>
  <link>http://www.goodreads.com/book/show/79351.The_Four_Pillars_of_Investing_Lessons_for_Building_a_Winning_Portfolio</link>
</book>

    <rating>5</rating>
  <votes>0</votes>
  <spoiler_flag>false</spoiler_flag>
  <shelves>
      </shelves>
  <recommended_for><![CDATA[]]></recommended_for>
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  <read_at></read_at>
  <date_added>Tue Jul 01 21:05:55 -0700 2008</date_added>
  <date_updated>Tue Jul 01 21:07:11 -0700 2008</date_updated>
  <read_count></read_count>
    <body><![CDATA[A bit dense, but not overwhelmingly so.  Definitely written for those without a finance background, but helps to read in small chunks.  A great overall picture of investing that dips pretty seriously into the easily digested technical/historical stuff.]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/26079705]]></url>
</review>
    <review id="13989210">
    <user id="840924">
    <name><![CDATA[Steve]]></name>
    <location><![CDATA[The United States]]></location>        
    <url><![CDATA[http://www.goodreads.com/user/show/840924-steve]]></url>
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  <ratings_count type="integer">89</ratings_count>
  <text_reviews_count type="integer">22</text_reviews_count>
  <title>The Four Pillars of Investing : Lessons for Building a Winning  Portfolio</title>
  <average_rating>4.11</average_rating>
  <image_url>http://photo.goodreads.com/books/1170965788m/79351.jpg</image_url>
  <link>http://www.goodreads.com/book/show/79351.The_Four_Pillars_of_Investing_Lessons_for_Building_a_Winning_Portfolio</link>
</book>

    <rating>5</rating>
  <votes>0</votes>
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  <recommended_for><![CDATA[]]></recommended_for>
  <recommended_by><![CDATA[]]></recommended_by>
  <read_at>Wed Jan 01 00:00:00 -0800 2003</read_at>
  <date_added>Tue Jan 29 17:31:06 -0800 2008</date_added>
  <date_updated>Thu Feb 07 14:48:08 -0800 2008</date_updated>
  <read_count></read_count>
    <body><![CDATA[The mutual fund industry is screwing us big time. Read this  book, and his earlier one, The Intelligent Asset Allocator, to get the real story and what you can do to become a smarter investor.]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/13989210]]></url>
</review>
    <review id="198694">
    <user id="20435">
    <name><![CDATA[Jeff]]></name>
    <location><![CDATA[Haverhill, MA]]></location>        
    <url><![CDATA[http://www.goodreads.com/user/show/20435-jeff]]></url>
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  <title>The Four Pillars of Investing : Lessons for Building a Winning  Portfolio</title>
  <average_rating>4.11</average_rating>
  <image_url>http://photo.goodreads.com/books/1170965788m/79351.jpg</image_url>
  <link>http://www.goodreads.com/book/show/79351.The_Four_Pillars_of_Investing_Lessons_for_Building_a_Winning_Portfolio</link>
</book>

    <rating>5</rating>
  <votes>0</votes>
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      </shelves>
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  <recommended_by><![CDATA[]]></recommended_by>
  <read_at>Fri Oct 01 00:00:00 -0700 2004</read_at>
  <date_added>Thu Mar 08 10:06:02 -0800 2007</date_added>
  <date_updated>Thu Mar 08 10:07:14 -0800 2007</date_updated>
  <read_count></read_count>
    <body><![CDATA[The best investing book I have ever read.  I cannot recommend this book enough, for any investor no matter the level.]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/198694]]></url>
</review>
    <review id="14680570">
    <user id="879515">
    <name><![CDATA[Lowell]]></name>
    <location><![CDATA[Portland, OR]]></location>        
    <url><![CDATA[http://www.goodreads.com/user/show/879515-lowell-herr]]></url>
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  <average_rating>4.11</average_rating>
  <image_url>http://photo.goodreads.com/books/1170965788m/79351.jpg</image_url>
  <link>http://www.goodreads.com/book/show/79351.The_Four_Pillars_of_Investing_Lessons_for_Building_a_Winning_Portfolio</link>
</book>

    <rating>5</rating>
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  <read_at></read_at>
  <date_added>Tue Feb 05 18:57:05 -0800 2008</date_added>
  <date_updated>Fri Sep 25 12:43:46 -0700 2009</date_updated>
  <read_count></read_count>
    <body><![CDATA[This is the first book investors should read.  Read Bernstein's first book, &quot;The Intelligent Asset Allocator&quot; second.]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/14680570]]></url>
</review>
    <review id="11162059">
    <user id="721780">
    <name><![CDATA[Legacy]]></name>
    <location><![CDATA[Scottsdale, AZ]]></location>        
    <url><![CDATA[http://www.goodreads.com/user/show/721780-legacy]]></url>
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  <average_rating>4.11</average_rating>
  <image_url>http://photo.goodreads.com/books/1170965788m/79351.jpg</image_url>
  <link>http://www.goodreads.com/book/show/79351.The_Four_Pillars_of_Investing_Lessons_for_Building_a_Winning_Portfolio</link>
</book>

    <rating>4</rating>
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  <read_at>Tue May 01 00:00:00 -0700 2001</read_at>
  <date_added>Fri Dec 28 11:23:51 -0800 2007</date_added>
  <date_updated>Fri Dec 28 11:24:20 -0800 2007</date_updated>
  <read_count></read_count>
    <body><![CDATA[Classic investing book based on sound principles. ]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/11162059]]></url>
</review>
    <review id="22342633">
    <user id="1164261">
    <name><![CDATA[Rob]]></name>
    <location><![CDATA[The United States]]></location>        
    <url><![CDATA[http://www.goodreads.com/user/show/1164261-rob]]></url>
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  <title>The Four Pillars of Investing : Lessons for Building a Winning  Portfolio</title>
  <average_rating>4.11</average_rating>
  <image_url>http://photo.goodreads.com/books/1170965788m/79351.jpg</image_url>
  <link>http://www.goodreads.com/book/show/79351.The_Four_Pillars_of_Investing_Lessons_for_Building_a_Winning_Portfolio</link>
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  <read_at></read_at>
  <date_added>Thu May 15 20:27:35 -0700 2008</date_added>
  <date_updated>Sat May 17 08:36:31 -0700 2008</date_updated>
  <read_count></read_count>
    <body><![CDATA[very good book that is easy to understand. ]]></body>
    <url><![CDATA[http://www.goodreads.com/review/show/22342633]]></url>
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