A practical guide to passive investing
Time and again, individual investors discover, all too late,
that actively picking stocks is a loser’s game. The alternative
lies with index funds. This passive form of investing allows you to
participate in the markets relatively cheaply while prospering all
the more because the money saved on investment expenses stays in
your pocket.
In his latest book, investment expert Richard Ferri shows you
how easy and accessible index investing is. Along the way, he
highlights how successful you can be by using this passive approach
to allocate funds to stocks, bonds, and other prudent asset
classes.
* Addresses the advantages of index funds over portfolios that
are actively managed
* Offers insights on index-based funds that provide exposure to
designated broad markets and don’t make bets on individual
securities
* Ferri is also author of the Wiley title: The ETF Book
and co-author of The Bogleheads’ Guide to Retirement
Planning
If you’re looking for a productive investment approach that
won’t take all of your time to implement, then The Power of
Passive Investing is the book you need to read.
Содержание
Foreword vii
Preface ix
Acknowledgments xix
Part I The Active Versus Passive Debate 1
Chapter 1 Framing the Debate 3
Chapter 2 Early Performance Studies 15
Chapter 3 The Birth of Index Funds 33
Chapter 4 Advances in Fund Analysis 41
Chapter 5 Passive Choices Expand 61
Chapter 6 Portfolios of Mutual Funds 79
Part II Chasing Alpha and Changing Behavior 93
Chapter 7 The Futility of Seeking Alpha 95
Chapter 8 Active and Passive Asset Allocation 117
Chapter 9 Changing Investor Behavior 133
Part III The Case For Passive Investing 155
Chapter 10 The Passive Management Process 157
Chapter 11 The Passive Case for Individual Investors 175
Chapter 12 The Passive Case for Charities and Personal Trusts 193
Chapter 13 The Passive Case for Pension Funds 211
Chapter 14 The Passive Case for Advisors 221
Glossary 233
Notes 245
About the Author 253
Index 255
Об авторе
RICHARD A. FERRI is the founder of the investment firm Portfolio Solutions¯® and a Forbes writer. Portfolio Solutions manages nearly $1 billion in separate accounts for high-net-worth individuals, families, non-profit organizations, and corporate pension plans. Ferri has written or cowritten six investment books, including the Wiley titles The ETF Book and The Bogleheads’ Guide to Retirement Planning. He earned a bachelor of science in business administration from the University of Rhode Island and a master of science in finance from Walsh College. Ferri is also a CFA Charterholder as designated by the CFA Institute, a global association of investment professionals. For more information, visit www.Rick Ferri.com and www.Portfolio Solutions.com.
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