| Author | Burton G. Malkiel |
| Genres | Finance |
| Rating | 💖💖💖💖🖤 |
| Date Finished | ~2022 |
🚀 The Book in 3 Sentences
- On a long enought time horizon, nobody can beat the S&P500.
- Historically, the market goes up, eventually it will go down and nobody can predict when.
- The best investor is a dead investor.
🎨 Impressions
Its a good book explaining the history of the stock market with the major bubbles and modern portfolio theory.
How I Discovered It
I was looking for a book to improve my knowledge of the stock market.
Who Should Read It?
Everyone that is investing or is thinking about investing. Forget about all the bs only. This is 80% of the stuff you will ever need as a passive investor.
🍀 How the Book Changed Me
After reading the book I started to slowly migrate my portfolio from single stocks to ETFs/bond. I also managed to convince a few of my friends to go from day trading to passive investing.
📒 Summary + Notes
The book goes over the major bubble of the stock market. After that it covers a bit of terminology and the history of the various techniques investors used through history (like modern portfolio theory). The gist of it for a modern passive investor is to create a strategy around a handful of ETFs and bonds, calculed based on your age, and stick with it as long as you can. You might have a small fraction of your portfolio dedicated to single stocks, but the bulk should be ETFs and bonds. After all, on a long enought time frame, no one can beat the market, so you might as well buy the entire market thru ETFs.