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· 분류 : 외국도서 > 경제경영 > 개인재무관리 > 투자
· ISBN : 9781394245444
· 쪽수 : 320쪽
· 출판일 : 2024-02-28
목차
Also by Larry E. Swedroe xiii
Foreword xvii
Introduction xxiii
Part One: How Markets Work: How Security Prices Are Determined and Why It’s So Difficult to Outperform
Chapter 1: The Determinants of the Risk and Return of Stocks and Bonds 3
Chapter 2: How Markets Set Prices 9
Chapter 3: Persistence of Performance 27
Chapter 4: Why Is Persistent Outperformance So Hard to Find? 35
Chapter 5: Great Companies Do Not Make High- Return Investments 39
Chapter 6: Market Efficiency and the Case of Pete Rose 47
Chapter 7: The Value of Security Analysis 51
Chapter 8: Be Careful What You Ask For 55
Chapter 9: The Fed Model and the Money Illusion 59
Part Two: Strategic Portfolio Decisions
Chapter 10: When Even the Best Aren’t Likely to Win the Game 67
Chapter 11: The Demon of Chance 73
Chapter 12: Outfoxing the Box 79
Chapter 13: Between a Rock and a Hard Place 83
Chapter 14: Stocks Are Risky No Matter How Long the Horizon 87
Chapter 15: Individual Stocks Are Riskier Than Investors Believe 91
Chapter 16: All Crystal Balls Are Cloudy 97
Chapter 17: There Is Only One Way to See Things Rightly 105
Chapter 18: Black Swans and Fat Tails 109
Chapter 19: Is Gold a Safe Haven Asset? 115
Chapter 20: A Higher Intelligence 121
Part Three: Behavioral Finance: We Have Met the Enemy and He Is Us
Chapter 21: You Can’t Handle the Truth 127
Chapter 22: Some Risks Are Not Worth Taking 133
Chapter 23: Framing the Problem 137
Chapter 24: Why Do Smart People Do Dumb Things? 143
Chapter 25: Battles Are Won Before They Are Fought 153
Chapter 26: Dollar Cost Averaging 161
Chapter 27: Pascal’s Wager and the Making of Prudent Decisions 167
Chapter 28: Buy, Hold, or Sell, and the Endowment Effect 173
Chapter 29: The Drivers of Investor Behavior 177
Chapter 30: The Economically Irrational Investor Preference for Dividend- Paying Stocks 185
Chapter 31: The Uncertainty of Investing 193
Part Four: Playing the Winner’s Game in Life and Investing
Chapter 32: The 20- Dollar Bill 199
Chapter 33: An Investor’s Worst Enemy 205
Chapter 34: Bear Markets 211
Chapter 35: Mad Money 219
Chapter 36: Fashions and Investment Folly 227
Chapter 37: Sell in May and Go Away 233
Chapter 38: Chasing Spectacular Fund Performance 235
Chapter 39: Enough 239
Chapter 40: The Big Rocks 243
Chapter 41: A Tale of Two Strategies 249
Chapter 42: How to Identify an Advisor You Can Trust 253
Conclusion 257
Appendix A: Implementation: Recommended Investment Vehicles 261
Notes 271
Acknowledgments 285
Index 287
