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Investing Under Fire

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Investing Under Fire

Winning Strategies from the Masters for Bulls, Bears and the Bewildered

Bloomberg Press,

15 min read
10 take-aways
Text available

What's inside?

Even investment experts need a crystal ball to guess the impact international and local issues have on stock earnings.

Editorial Rating

8

Qualities

  • Innovative
  • Applicable

Recommendation

Investing Under Fire is a very interesting collection of essays by 30 luminaries from various fields, some of them not at all related to investing. Each selection contains at least a thought or two to repay the effort of perusal, and that’s a great deal more than many books deliver, especially books about investing. The anthology’s five segments cover mutual funds, key sectors - from Asia to precious metals, research and legal resources, innovative companies and geopolitical influences. Anyone who merely reads the first selection, by Vanguard founder John Bogle, and applies its lessons, would more than recapture the purchase price of the book. Despite the sometimes self-promotional comments from a few of the other contributors, it’s a very valuable book. If nothing else, getAbstract.com notes, it will expose you to a spectrum of diverse opinions, a useful prophylactic against complacency.

Summary

The Editor Explains

History repeats itself in the stock market. America has experienced the Depression and lived through Pearl Harbor. It survived the 9/11 terrorist attacks on the World Trade Center and the destruction of both towers. A few months later, the stock market collapsed and major corporations went bankrupt. America has been through this sort of thing before. Now experts in political, military, financial and business affairs share their wisdom about investing after turmoil and offer ideas about strategies. Here are a few of the more interesting:

From John C. Bogle: Founder and former CEO of The Vanguard Group, Inc.

John C. Bogle began to study mutual funds when writing his Princeton thesis in 1949. That research said:

  • Mutual fund management ought to be efficient, honest and economical.
  • Funds can’t honestly claim to beat the market.
  • Funds should be investors not players, and should focus on long term corporate performance, not on short term market moves.
  • Funds should serve the shareholder, whether individual or institutional.

Those characteristics don’t describe today’s mutual fund industry. Today, funds...

About the Author

Editor Alan R. Ackerman is a market commentator. An expert in foreign affairs and international strategies, he has been a contributing editor to financial publications and appears weekly on television and radio.


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