Stocks for the Long Run 5/E: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies Author: Jeremy J. Siegel | Language: English | ISBN:
B00GWSXX26 | Format: PDF
Stocks for the Long Run 5/E: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies Description
The stock-investing classic--UPDATED TO HELP YOU WIN IN TODAY'S CHAOTIC GLOBAL ECONOMY
Much has changed since the last edition of Stocks for the Long Run. The financial crisis, the deepest bear market since the Great Depression, and the continued growth of the emerging markets are just some of the contingencies directly affecting every portfolio in
the world.
To help you navigate markets and make the best investment decisions, Jeremy Siegel has updated his bestselling guide to stock market investing.
This new edition of Stocks for the Long Run
answers all the important questions of today: How did the crisis alter the fi nancial markets and the future of stock returns? What are the sources of long-term economic growth? How does the Fed really impact investing decisions?
Should you hedge against currency instability?
Stocks for the Long Run, Fifth Edition, includes brand-new coverage of:
THE FINANCIAL CRISIS
Siegel provides an expert’s analysis of the most important factors behind the crisis; the state of current stability/instability of the financial system and where the stock market fits in; and the viability of value investing as a long-term strategy.
CHINA AND INDIA
The economies of these nations are more than one-third larger than they were before the 2008 financial crisis; you'll get the information you need to earn long-term
profits in this new environment.
GLOBAL MARKETS
Learn all there is to know about the nature, size, and role of diversifi cation in today’s global economy; Siegel extends his projections of the global economy until the end of this century.
MARKET VALUATION
Can stocks still provide 6 to 7 percent per year after inflation? This edition forecasts future stock returns and shows how to determine whether the market is overvalued or not.
Essential reading for every investor and advisor who wants to fully understand the forces that move today's markets, Stocks for the Long Run provides the most complete summary available of historical trends that
will help you develop a sound and profitable long-term portfolio.
PRAISE FOR STOCKS FOR THE LONG RUN:
“Jeremy Siegel is one of the great ones.” —JIM CRAMER, CNBC’s Mad Money
“[Jeremy Siegel’s] contributions to finance and investing are of such signifi cance as to change the direction of the profession.” —THE FINANCIAL ANALYST INSTITUTE
“A simply great book.” —FORBES
“One of the top ten business books of the year.” —BUSINESSWEEK
“Should command a central place on the desk of any ‘amateur’ investor or beginning professional.” —BARRON’S
“Siegel’s case for stocks is unbridled and compelling.” —USA TODAY
“A clearly written, neatly organized, highly persuasive exposition that lifts the veil of mystery from investing.” —JOHN C. BOGLE, founder and former Chairman, The Vanguard Group
"A book that all investors—nervous Nellies in particular—should read." —Investing.com
- File Size: 32381 KB
- Print Length: 448 pages
- Simultaneous Device Usage: Up to 4 simultaneous devices, per publisher limits
- Publisher: McGraw-Hill; 5 edition (December 17, 2013)
- Sold by: Amazon Digital Services, Inc.
- Language: English
- ASIN: B00GWSXX26
- Text-to-Speech: Enabled
X-Ray:
- Lending: Not Enabled
- Amazon Best Sellers Rank: #38,273 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
- #21
in Kindle Store > Kindle eBooks > Business & Money > Investing > Stocks - #22
in Kindle Store > Kindle eBooks > Business & Money > Economics > Economic History - #44
in Kindle Store > Kindle eBooks > Business & Money > Investing > Investing Basics
- #21
in Kindle Store > Kindle eBooks > Business & Money > Investing > Stocks - #22
in Kindle Store > Kindle eBooks > Business & Money > Economics > Economic History - #44
in Kindle Store > Kindle eBooks > Business & Money > Investing > Investing Basics
The basic theme throughout is simply that stock returns (in all developed nations, though at differing slopes, pp. 88-90) regress to a mean, as bonds, and all other investment alternatives, do not. That’s one point. By taking the long historical view (from the dawn of the American republic), Siegel also demonstrates (Chapter 6, pp. 93-103) that in this country over periods of five years and longer, real stock returns (after inflation) stray from our mean return (6.5%) less and less, until at thirty years the observed deviations are half what standard statistics expect. So stocks are both much more volatile short-term—cf. Mandelbrot and Hudson, The (mis)Behavior of Markets—and much less volatile long-term, than Modern Portfolio Theory says they should be. That’s point #2. And, his third crucial point, value strategies (Chapter 12, pp. 173-193, on low-P/E, high-dividend stocks) consistently surpass the market indices by 2% or more in annual compounded returns. I know of no other book which has made any one of these three points so clearly and demonstrated them so forcefully with historical data and mathematical analysis. Ben Graham, to be sure, made the case for value investing decades ago, and does a better job of understanding and presenting the process than anyone else before or since, but of course he couldn’t come close to the range and depth of modern databases and computing power to undergird his argument. Siegel has written the one book since Graham’s Intelligent Investor that everyone should read and re-read before presuming to buy any security other than an index fund.
So, for instance, I needed to know that stocks have never failed to offer a positive real return over any period of seventeen years or more.
Jeremy Siegel’s Stocks for the Long Run, here in its fifth edition, has long been considered as required reading for stock investors of all ilk. It is a book that is referred to steadily by the financial press and fellow financial authors when looking to explain some of the finer points of efficient and safe investing. As such, it has more than earned its place in the world of investing tomes. But Mr. Siegel does not rest on his laurels. Ever the scholar and purveyor of insight and knowledge, Mr. Siegel takes his considerable acumen and gobs of statistics and graphs and applies them to modern markets, bringing them to bear on the real estate implosion, the 2008 depression, the post-depression recovery, and the Fed’s tight money policy and qualitative easing. Everything that the press and TV financial gurus have worked so hard to obfuscate over the last six years suddenly becomes lucid and, if not sensible, at least explainable.
I enjoyed this book quite a lot, because although I am familiar with some of Mr. Siegel’s writing in various financial publications, this is my first time to read this book. I liked the fact that it reinforced my own long term investing viewpoints, and did so with clear examples, easy to understand graphs and tables, and an overall “no nonsense” tone that keeps the book light but “sturdy”. Mr. Siegel’s strength lies mainly in the fact that he doesn't tell potential investors what they should do. Instead, he tells you what to expect when it comes to what markets, individual stocks, and particular sectors might do, how to recognize what they are doing, and what you might want to consider doing to take advantage of that.
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