Stocks for the Long Run : The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies - Hardcover

Jeremy J. Siegel

Hardcover

ISBN 10: 007137048X ISBN 13: 9780071370486

Publisher: McGraw-Hill, 2002

Synopsis

"One of the ten best investing books of all time."--The Washington Post

One of investing's most celebrated icons updates his classic work to reflect today's world and markets

In this long-awaited and eagerly anticipated update, Jeremy iegel provides his legendary perspective and guidance to an investment world turned upside down. Stocks for the Long Run combines a compelling and timely portrait of today's turbulent stock market with the strategies, tools, and techniques investors need to maintain their focus and achieve meaningful stock returns over time.

This completely updated edition includes entirely new data, charts, and figures as it provides answers on the five major issues concerning investors and professionals today:

• How will events related to September 11 tragedy affect long-term market returns?
• What behavioral roadblocks stand in the way of achieving financial success?
• Are "countries" still relevant for global investing?
• Will stock "indexing" match its past performance?
• Can tomorrow's stock market deliver the same returns as markets in the past?

Praise for previous editions of Stocks for the Long Run:

"Should command a central place on the desk of any 'amateur' investor or beginning professional."--Barron's

"A simply great book."--Forbes

About this title

Review

If anyone told you that investing in the stock market was the safest investment you could make, you might raise an eyebrow. However, if Jeremy Siegel tells you this, prepare to be convinced. Siegel's book, Stocks for the Long Run, is a comprehensive and highly readable history of the stock market that dramatically makes the case for long-term investing in stocks.

In summing up his approach to investing, Siegel writes, "Poor investment strategy, whether it is for lack of diversification, pursuing hot stocks, or attempting to time the market, often stems from the investor's belief that it is necessary to beat the market to do well in the market. Nothing is further from the truth. The principle of this book is that through time the after-inflation returns on a well-diversified portfolio of common stocks have not only exceeded that of fixed income assets but have actually done so with less risk. Which stocks you own is secondary to whether you own stocks, especially if you maintain a balanced portfolio."

Stocks for the Long Run considers subjects as diverse as the history of the various market indices and what makes for a business cycle to contrarian indicators and the utility of 200-day moving averages. If you've just come into investing in the last few years and feel the need for a solid and comprehensive text about the market, Stocks for the Long Run is probably the best primer available. It also works as an excellent reference for seasoned investors and anyone else interested in how the market works. --Harry C. Edwards

From the Author

Jeremy Siegel's 1994 book, Stocks for the Long Run, makes for dry but very interesting reading. A finance professor at the University of Pennsylvania, Siegel has compiled some of the most thorough information about stock market performance over time relative to other asset classes that can be found for such a low price. The book is frequently used as a reference by various Fool HQ writers who are looking for the authoritative numbers on how stocks have done over various time periods.

Siegel analyzes stock returns and large-scale economic factors deftly, pausing to focus on specific historical issues that demonstrate the idea of stocks being a superior investment vehicle over long periods of time. His analysis of the performance of the Nifty Fifty stocks bought at their high in 1973 through the early 1990s is one particularly interesting stopping point, and his work on gold, recessions and taxes all make for interesting sidebars as well. Although some of the peripheral stuff may not exactly be Foolish, the general conclusion that stocks make superior long-term investment vehicles certainly is.

Edition details

• Publisher: McGraw-Hill
• Publication date: 2002
• ISBN 10: 007137048X
• ISBN 13: 9780071370486
• Binding: Hardcover
• Language: English
• Edition number: 3
• Number of pages: 388