Book description
Praise for Sheldon Jacobs
"Sheldon Jacobs is a level-headed gentleman who is a cross between Albert Einstein, the Dalai Lama, and Vanguard founder Jack Bogle and who had a solid record editing and publishing The No-Load Fund Investor financial newsletter for over a quarter-century."
—MarketWatch
"King of no-loads."
—Investor's Business Daily
"Dean of the no-load fund watchers."
—USA Today
"Among financial experts who are able to think with a small investor's perspective, no one is more level-headed than Sheldon Jacobs."
—Bottom Line/Personal
In July of 1993, Sheldon Jacobs was one of five nationally recognized mutual fund advisors chosen by The New York Times for a mutual fund portfolio competition. The portfolio that he selected produced the highest return of all contestants for almost seven years, and the Times quarterly publication of this contest helped him become one of the best-known mutual fund advisorsin America.
Investing without Wall Street shows investors how to achieve the greatest wealth with the least effort. It details the five essentials that even a kid could master and shows that they are all you need to be a successful investor. With this knowledge, the average investor can invest on his or her own and make $252,000 more than a person investing the same way who shares his or her profits with professionals. This book will teach you how.
Table of contents
- Cover Page
- Title Page
- Copyright
- Dedication
- Also by Sheldon Jacobs
- Contents
- Preface
- Introduction: Take a Journey with Me
-
PART I: THE FIVE ESSENTIALS
- CHAPTER 1: The First Essential: Determine the Right Asset Allocation
-
CHAPTER 2: The Second Essential: Diversify within Asset Classes
- Diversify Stocks with Broad-Based Index Funds
- Defining “Broad-Based”
- Forget Style Diversification
- It's Hard to Forecast Styles
- The Solution
- How Many Funds Do You Need?
- Do Individual Stocks Have a Place in Your Portfolio? I Say No
- Why the Fixation on Individual Stocks?
- I Buy a Stock
- Important Lessons in This Chapter
- CHAPTER 3: The Third Essential: Understand and Control Risk
- CHAPTER 4: The Fourth Essential: Keep Your Costs Low
- CHAPTER 5: The Fifth Essential: Choose the Right Financial Media to Follow
-
PART II: ACTIONS AND STRATEGIES TO IMPLEMENT THE ESSENTIALS
-
CHAPTER 6: Developing Media Expertise
- Listening to Individuals May Be Hazardous to Your Wealth
- The Press Lacks Numeracy
- Be Aware of Press Biases
- The Hierarchy of Investing Knowledge
- Going Beyond Media Recommendations
- The Perils of Perma Bulls and Bears
- Avoiding Unhelpful Advice
- Read About Scams
- How to Game Contests
- The Selling Advice Myth
- Investing Seminars Worth Attending
- Important Lessons in This Chapter
- CHAPTER 7: How to Build Mutual Fund Portfolios for Lifetime Profits
- CHAPTER 8: Index Fund Investing: Beyond the S&P 500
- CHAPTER 9: How to Survive Bear Markets
-
CHAPTER 10: The Case for Market Timing
- Buy and Hold—Not What It Used to Be
- Market Timing Doesn't Work, So Why Do So Many People Listen to Market Timers?
- Where Are We in the Cycle?
- How to Use a Timer
- Criteria for Hiring a Market Timer
- Rebalancing: A Form of Market Timing
- Tactical Asset Allocation: Another Form of Market Timing
- Strategizing Fund Distributions
- Mutual Funds Don't Market Time
- Charts, Schmarts; You Have Facts
- Stop-Lossing Stocks and Mutual Funds
- Important Lessons in This Chapter
- CHAPTER 11: The No-Work Way to a Comfortable Retirement . . . Maybe
- CHAPTER 12: Dealing with Professionals
-
CHAPTER 6: Developing Media Expertise
-
PART III: BECOMING A WELL-ROUNDED MONEY MAVEN
-
CHAPTER 13: For Clearer Thinking
- Clear Thinking Quiz
- Correlation Is Not Causation
- Are Patterns Projectable?
- Some Correlations Make Sense
- Why Averages Can Be Misleading
- The Best Six Months
- The Fallacy of Missing the Best Days
- Do You Benchmark Your Performance?
- Rules of Thumb
- Know What You Don't Know
- Know What Is Unknowable
- And Know What Your Advisors Don't Know
- The Difference between Investing and Speculating
- Answers to the Clear Thinking Quiz
- Important Lessons in This Chapter
-
CHAPTER 14: The Psychology of Investing
- Anchoring
- Randomness in the Markets
- Boldness
- Don't Gravitate Toward Round Numbers
- Being Too Comfortable
- Myopia
- Playing with the House's Money
- Buying High and Selling Low
- Bull versus Bear Market Behavior
- Why Employees Overweight Their Own Company Shares
- What Are Others Thinking?
- Greed
- Important Lessons in This Chapter
- CHAPTER 15: Integrity, or the Lack of It
- CHAPTER 16: Women Aren't Different; They Just Live Longer
- CHAPTER 17: Adventures in Collectibles
- CHAPTER 18: Vanity Investments
- CHAPTER 19: Increasing Your Workplace Income
-
CHAPTER 13: For Clearer Thinking
- Epilogue: Journey's End
- Appendix: Directory of Newsletters with Model Portfolios
- Glossary
- Acknowledgments
- About the Author
- Index
Product information
- Title: Investing without Wall Street: The Five Essentials of Financial Freedom
- Author(s):
- Release date: April 2012
- Publisher(s): Wiley
- ISBN: 9781118204641
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