The classic guide toconstructing a solid portfoliowith out a financial advisor!With relatively little effort, youcan design and assemble aninvestment portfolio that, becauseof its wide diversification and minimalexpenses, will prove superior to themost professionally managed accounts.Great intelligence and good luckare not required.William Bernsteins commonsense approachto portfolio construction has served investorswell during the past turbulent decadeandits what made The Four Pillars of Investing aninstant classic when it was first published nearlya decade ago.This down-to-earth book lays out in easy-to-understandprose the four essential topics thatevery investor must master: the relationship ofrisk and reward, the history of the market, thepsychology of the investor and the market, andthe folly of taking financial advice from investmentsalespeople.Bernstein pulls back the curtainto reveal what really goes on in todays financialindustry as he outlines a simple program forbuilding wealth while controlling risk.Straightforward in its presentation and generous inits real-life examples, The Four Pillars of Investingpresents a no-nonsense discussion of:The art and science of mixingdifferent asset classes into aneffective blendThe dangers of actively pickingstocks, as opposed to investingin the whole marketBehavioral finance and howstate of mind can adverselyaffect decision makingReasons the mutual fund andbrokerage industries, rather thanyour partners, are often yourmost direct competitorsStrategies for managing all of yourassetssavings, 401(k)s, homeequityas one portfolioInvesting is not a destination. It is a journey, andalong the way are stockbrokers, journalists, andmutual fund companies whose interests are diametricallyopposed to yours.More relevant today than ever, The Four Pillars ofInvesting shows you how to determine your ownfinancial direction and assemble an investmentprogram with the sole goal of building long-termwealth for you and your family.

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