Wednesday, August 02, 2006

Bogleheads and other books

I just checked out a book from my local library called, "Bogleheads Guide to Investing" which is written basically by a few super-DIEHARD John Bogle fans. I've read several different investment books over the years and would rate this as one of the best. A bit on the basic side, it's a great starting-off book for those that are in their 20s/30s just about to embark on the adventures of investing. I just wish I read it about 4 years earlier. Surprisingly, the book is pretty thorough and delves into such issues as saving for college, using a financial adviser, thinking about wills and trusts. So a nice background book that will give you a nice foundation for good assett management. And the book doesn't read like a Vanguard marketing pamphlet either.

I would add this to a list of my favorite finance books. Others include:
1. Four Pillars of Investing by William Bernstein
2. Common Sense on Mutual Funds by John Bogle
3. Millionaire Next Door By Stanley and Danko
4. Irrational Exuberance (2nd edition) by Robert J. Schiller
5. Unconventional Success by David Swensen.
6. Articles in Paul Merriman's website under the tab, "Buy and Hold"

My wife always says that I am so "undiversified" when it comes to reading these books because as you will see, the general premise of these reading materials are similar. Is it possible to be closed-minded in supporting passive investing and indexing? Call me one-track minded.
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Anonymous Anonymous said...

Warren Buffet doesn't like diversification. He says diversificationis weak and does not allow you to focus; however, I think it is a good strategy depending on what your needsm age, and goals are. Diversity can protect what people have if they aren't very informed, not very good at stock picking, or don't have the time to deal with it.

I just came across your blog and like it!

3:47 PM, August 05, 2006  

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