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The Four Pillars of Investing - William J. Bernstein


John Hjorth
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Based on these comments from Vinod and Jurgis in the topic about the book "Value Averaging" [topic: here]:

 

I think reading "The Four Pillars of Investing" which is mostly about Indexing would be a lot more helpful.

 

Partially OT: I just looked at Kindle excerpt of "The Four Pillars of Investing". The author in chapter 1 makes the same point about survival bias and hindsight bias that I made about Buffett's claim this year that it was "obvious" to everyone that US will win the WWII and therefore investing in US markets in 1942 was a gimme. Author has some good examples. 8) Even if one thinks that this lesson does not apply to US now, it might be a good one to keep in mind when proclaiming bright future for countries X, Y, Z and terrible future for countries W, T, U. These are not as knowable as they seem in hindsight.

 

I [also] received this book from saxo.com today. I'll elaborate later in this topic about the book, when it's a in progress read for me.

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