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Lifecycle Investing: A New, Safe, and Audacious Way to Improve the Performance of Your Retirement Portfolio
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Lifecycle Investing: A New, Safe, and Audacious Way to Improve the Performance of Your Retirement Portfolio

3.83  ·  Rating details ·  82 ratings  ·  7 reviews
Diversification provides a well-known way of getting something close to a free lunch: by spreading money across different kinds of investments, investors can earn the same return with lower risk (or a much higher return for the same amount of risk). This strategy, introduced nearly fifty years ago, led to such strategies as index funds.

What if we were all missing out on
Hardcover, 240 pages
Published May 4th 2010 by Basic Books (first published 2010)
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Oct 06, 2019 rated it really liked it  ·  review of another edition
Overall, the message is powerful—using leveraged investing early in your life is a very powerful and extremely overlooked investment tool. With that said, the fact that they don't do a serious comparison of non-leveraged tax-free investment vs leveraged taxable investment was a bizarre oversight. I still think that an FHA mortgage on some owner-occupied real estate will return much higher cash-on-cash.
Feb 24, 2019 rated it really liked it
Shelves: economics
The idea of diversifying across time is totally fascinating. Even if you don't implement the ideas in this book (and at this point I won't be), they're worth reading and thinking about. I'm planning on revisiting this book in a weeks after I've spent some time thinking about the ideas contained within it.
Jun 05, 2010 rated it liked it
This is a provocative 2010 book on a strategy to increase your retirement savings by using leveraged lifecycle investing. Allow me to explain. One current approach to prepare for retirement is to have a mutual fund that adjusts your asset allocation automatically as you approach a particular retirement date. Typically, you go from a high ratio of stocks to bonds (80:20) to a lower ratio when you retire (40:60). In this similar approach, the authors show using historical data and monte carlo ...more
Jun 18, 2015 rated it it was ok
The crux of this investing book is geared toward retirement saving and investing using leverage on equity to multiply earnings over a long horizon to retirement. The authors go to great lengths to prove their theory produces better returns than traditional a methods of passive accumulation and time value. The advice makes some sense with the usual caution of past performance not always guaranteeing future results. It will of course take you a life time to prove it out yourself. And you certainly ...more
Sep 26, 2012 rated it really liked it
Quick read. The concept is sound: basically treat the money to be made over the rest of your career as a bond (which it virtually is) and you realize that every penny in your investment now as a youngish person (under 50) should be in stocks for a "balanced" portfolio. But young people don't have enough money to be remotely balanced, therefore they should use leverage. Extensive backtesting not only with the S&P500 but the Nikkei and European indices show it outperforms the "standard" ...more
Jul 31, 2012 rated it it was ok
Shelves: finance
In all honesty I quit reading this one early. Between the focus on early investors with little capital (we are in our 30s but pouring capital into equities at a good clip) and the myriad counterexamples available of people who have lost all their money plus years of investing to the gamble with leverage, I just was not interested in a method that amplifies short term risk to (potentially) even out long term risk, when other methods exist to mitigate risk and maximize returns.
Bryan Price
Mar 25, 2016 rated it it was amazing
Outstanding research!
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Ian Ayres is the William K. Townsend Professor at Yale Law School and the Yale School of Management, and is editor of the Journal of Law, Economics and Organization. In addition to his best-selling SuperCrunchers, Ayres has written for the New York Times, the Wall Street Journal, Financial Times, International Herald Tribune, and The New Republic. He lives in New Haven, Connecticut.Barry Nalebuff ...more