The global financial crisis that erupted in 2008 exposed the flaws in many investment strategies. This book explores the controversies that surround the management of wealth, and provides guidance on how to construct investment strategies that are appropriate for each investor.
With detailed analysis, supported by data and anecdotes, it is above all a practical guide. It shows how the insights of behavioral analysis are widely reflected in investor actions, while emphasizing the importance of basing investment strategy on the principles of traditional finance. And it takes into account new research into behavioral and traditional finance, which has created new understandings of what investors want to achieve, along with their customary mistakes.
Additionally, this third fully updated and extensively revised edition includes a wide analysis of alternative investments such as art and wine.
Most Helpful Customer Reviews
I have read the First, Second and Third Editions of the Guide to Investment Strategy. Each has proven to be invaluable, both personally and professionally. As to the former, reference to the guides keeps me better aligned with "first principles" - always critical. As to the latter, reference to the guides has made me a far better communicator regarding markets, the rewards that markets bestow upon their long-term participants, the price markets exact from market participants in exchange for the rewards they bestow, and the market participant behaviors that are constructive and self-destructive.
In a world in which career changes are common, as are changes in the industries in which careers are pursued and the shorter duration of the career pursuits, with markedly increased longevity and dependence upon defined contribution (versus defined benefit) plans and personal savings, in a low interest rate and rising tax regime environment, to say that "financial...
Succinct and informative, the The Economist Guide to Investment Strategy is an invaluable tool. Whether you're financially illiterate or Wall Street savvy, Stayner explains the ins and outs of investing without seeming preachy or condescending. Complete with a exhaustive glossaries, appendices, and further reading recommendations, the book proves to be a Bible of investment management.
Highly recommended for anyone wishing to take better hold of his personal finances or any analysts/advisors wishing to better communicate with their clients.
This was well written and a good introduction to a complex subject.
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