Produktbild: Digital Wealth

Digital Wealth An Automatic Way to Invest Successfully

32,99 €

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Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

02.12.2015

Verlag

John Wiley & Sons

Seitenzahl

192

Maße (L/B/H)

23,5/15,7/1,5 cm

Gewicht

439 g

Auflage

1. Auflage

Sprache

Englisch

ISBN

978-1-119-11846-6

Beschreibung

Produktdetails

Einband

Gebundene Ausgabe

Erscheinungsdatum

02.12.2015

Verlag

John Wiley & Sons

Seitenzahl

192

Maße (L/B/H)

23,5/15,7/1,5 cm

Gewicht

439 g

Auflage

1. Auflage

Sprache

Englisch

ISBN

978-1-119-11846-6

Herstelleradresse

Libri GmbH
Europaallee 1
36244 Bad Hersfeld
DE

Email: gpsr@libri.de

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  • Produktbild: Digital Wealth
  • Preface xiii

    Acknowledgments xvii

    Chapter 1 America's Savings Challenge 1

    We Don't Save Enough 1

    The Key Change in America's Retirement Planning Process 3

    How Financial Innovation Helps 4

    The Magic of a 15 Percent Savings Rate 5

    Notes 8

    Chapter 2 The Risk of Not Investing in Stocks 9

    The Short¿Term Risks 10

    The Historical Perspective 10

    The Logic 12

    Chapter 3 The Enemies of a Stock Portfolio 15

    Why Inflation Matters 16

    Treasury Inflation¿Protected Securities (TIPS) 17

    Asset Confiscation 18

    Recession 19

    Chapter 4 The Value of Time for Investors 21

    Why Long¿Term Stock Investing Is Less Risky than It May Seem 21

    The Long¿Term Picture 22

    How Bonds Can Help 24

    Note 27

    Chapter 5 Core Assets of a Robust Portfolio 29

    Asset Classes We Include 29

    Individual Asset Classes We Exclude 34

    Notes 39

    Chapter 6 Dynamic Asset Selection 

    Determining the Lowest¿Cost Option for Each Portfolio 41

    Chapter 7 What Software Does Better than People 47

    How Software Helps Investors 49

    Example: All the Decisions an Algorithm Makes 50

    Chapter 8 How International Investing Can Smooth Returns 53

    Demographics Matter 54

    Diversification Improves Your Industry Mix 56

    Notes 58

    Chapter 9 The Advantages of Exchange¿Traded Funds 59

    The Benefits of ETFs 61

    In¿Kind Transfers 62

    The Risks of ETFs 63

    Securities Lending Policies 65

    Notes 67

    Chapter 10 The Triumph of Low¿Cost Investing How Paying Less Gets You More 69

    Fooled by Randomness 70

    A Triumph of Marketing over Results 72

    Notes 76

    Chapter 11 Learning from Nobel Prize Winners 79

    Milton Friedman, 1976 80

    James Tobin, 1981 81

    Harry Markowitz, 1990 81

    William Sharpe, 1990 82

    Daniel Kahnemann, 2002 83

    Eugene Fama and Robert Shiller, 2013 83

    Chapter 12 The Costs of Being Active 85

    The Cost of Closet Indexing 87

    The Other Costs of Active Management 88

    Notes 90

    Chapter 13 The Greatest Mistakes Made by Novice Investors 91

    Starting Saving Too Late 92

    Are You Using Tax Shelters Effectively? 93

    Are You Taking Advantage of 401(k) Matching If Available? 93

    Are You Diversified Internationally? 93

    Are You Chasing Returns? 94

    Are You Overpaying in Fees? 95

    Are You Tracking the Right Index? 95

    Do You Trade Too Much? 97

    Chapter 14 Tilts and Other Ways to Help Long¿Term Performance 99

    History of Market Thought 100

    Data Mining 102

    Debunking Strong¿Form Market Efficiency 103

    Rationality 103

    The January Effect 104

    Sell in May and Go Away 104

    Momentum 105

    Value 105

    Small Cap 106

    Quality 106

    Longer¿Term Mean Reversion 107

    Assessing Tilts in a Portfolio Context 107

    Notes 108

    Chapter 15 Establishing a Tax¿Efficient Portfolio 109

    Tax Shelters 111

    Tax Efficiency for Retirement 111

    Tax Efficiency for College 112

    Tax Efficiency for Giving 113

    Tax¿Efficient Asset Placement 114

    Tax Loss Harvesting 115

    Offsetting Gains with Losses 115

    The Principal of Tax Deferral 116

    How Tax Loss Harvesting Works 117

    Challenges of Implementing Tax Loss Harvesting 117

    Conclusion 119

    Chapter 16 The Value of Rebalancing and Glidepaths 121

    Rebalancing Keeps a Portfolio on Course 122

    Tiered Rebalancing 125

    Glidepaths 126

    Notes 129

    Chapter 17 How to Manage a Market Crash 131

    Keep Stock Market Investing for Longer¿Term Money 133

    Making Saving an Ongoing Activity 134

    Pay Attention to Extremes of Long¿Term Valuation Signals 134

    Don't Consider Stocks in Isolation 135

    Remember that You May Underestimate Your Risk Tolerance in Good Markets 136

    Chapter 18 Your Own Worst Enemy Is in the Mirror 139

    The Biggest Threat to Your Returns Is in the Mirror 140

    Always a Reason to Avoid Staying Out 141

    The Returns You See Aren't the Ones You Get after Tax 141

    The Media Isn't Your Friend 142

    Overtrading 142

    Home Bias 143

    Failing to Take a Long¿Term Perspective 143

    Availability Bias 144

    Chasing Performance 144

    Ignoring Fees 144

    Holding Too Much Cash 145

    How Software Can Help 145

    Note 146

    Chapter 19 Saving for Goals beyond Retirement 147

    Tax Efficiency 148

    Portfolio Construction 149

    Emergency Funds 150

    Investment Flow Chart 150

    Chapter 20 A History of Diversified Portfolio Performance 153

    Stocks vs. Bonds 153

    The Impact of Recessions 154

    The Impact of Inflation 155

    The Danger of Averages 155

    The Benefits of Combination 155

    An Emerging Market that Has Emerged 156

    Chapter 21 The Future of Wealth Management 157

    Lower Costs 158

    Democratization of Services 159

    Increasing Customer Intimacy 160

    Improved Financial Awareness 160

    Note 161

    Chapter 22 Conclusion 163

    Author's Disclaimer 167

    About the Author 169

    Index 171