Read e-book online Blind Faith: Our Misplaced Trust in the Stock Market and PDF

By Edward Winslow

ISBN-10: 1576752526

ISBN-13: 9781576752524

ISBN-10: 1576759083

ISBN-13: 9781576759080

- Over forty percentage of families personal a few kind of universal stock

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Read Online or Download Blind Faith: Our Misplaced Trust in the Stock Market and Smarter, Safer Ways to Invest PDF

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Additional info for Blind Faith: Our Misplaced Trust in the Stock Market and Smarter, Safer Ways to Invest

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Sober nations have all at once become desperate gamblers, and risked almost their existence upon the turn of a piece of paper. ”17 All of the idiosyncrasies of individual investors can be magnified, creating dramatic bubbles of intense speculative activity. This is not peculiar to this age. There have been many financial bubbles since the publication of Mackay’s book in 1841. S. stock market bubble of the 1920s; the Japanese stock market and real estate bubble of the late 1980s; and the technology/Internet company bubble of the late 1990s, just to name a few.

S & P 500 140 120 100 80 60 40 20 Sep-75 Sep-73 Sep-71 Sep-69 Sep-67 Sep-65 Sep-63 Sep-61 0 date The bear market of 1929–1932 wiped out all of the gains of the previous 33 years. An investment at the top of the market in 1929 had to be held until 1954 before showing a hint of profit. History shows us that the market can be extremely volatile and is definitely not for the faint of heart. the stock market 21 ■ ■ ■ Using the past performance of the stock market as a basis for predicting future performance is commonly done, even though the world is a much different place than it was just ten years ago.

You would expect that the hardworking, skilled professional investors with substantial resources at their command would gain at the expense of the unskilled individual investor and consistently beat the market averages. But this is not the case. The Professional Investment Manager vs. a Blindfolded Monkey In 1985 Dr. Burton G. Malkiel’s epic book, A Random Walk Down Wall Street, rocked the professional investment world. Dr. Malkiel, a professor of economics at Princeton University, concluded it was difficult, if not impossible, for the average active professional money manager to consistently beat an index of stocks, which by definition is unmanaged.

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Blind Faith: Our Misplaced Trust in the Stock Market and Smarter, Safer Ways to Invest by Edward Winslow


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