Bit dated. Can see how it would have been good decades ago.

SUMMARY
Individual investors should invest in equity-based index funds around the globe, have a time-horizon of decades and follow explicit, well-thought policies. T-bills, bonds, real estate, commodities and mutual funds are poor investments compared to equities.

REVIEW
Too much on why mutual fund sucks and why it is important to diversify. "it is more rewarding to study investment history than to study the present", I wish to find a detailed discussion on the great depression, the high interest rate era in 1980s, etc.

Although 95% of this book doesn't give me anything new, I do find a few gems scattered across the pages.

Readers who are already familiar with the works of Burton G. Malkiel and William J. Bernstein will most likely find nothing new in this book, which can pretty much be summed up in one sentence: Buy index funds/ETFs and invest for the long term. With that said, the book does a good job of explaining why most ordinary investors should not aim to maximize investment returns, but rather to lower costs and curb excessive risk taking. To that end, buying and holding low-cost index funds or ETFs is the best and least complicated option for long-term minded investors. In other words, he argues since the overwhelming majority of everyday folks are at a huge disadvantage against institutional investors and professionals equipped with advanced economic models, first-hand company research, and other exclusive resources, they should forget about earning market-beating returns and simply diversify their investment among several index funds.

However, the book is mostly about the guiding principles of long-term investing, but doesn't provide enough details as to which index funds to buy, when to sell one and buy another, and how to allocate one's money among asset classes.

Was a good, solid read. I think that, in context, some of the takeaways are common knowledge now, but I can imagine were ground breaking at the time.

benign neglect is the key to success.

I should have read this book years ago. Instead, for the last decade or so I’ve relied on two separate investment advisors who fit all the characteristics the the author describes and made the mistakes he points out (e.g. getting into “hot funds” then selling at a low point). And both made more money from my account than I have.

I think his advice for a long term portfolio is good, but I’d like to have seen more discussion on how to get to it short of putting all your money into “an index fund “.

This book makes a convincing argument for being a defensive investor and passive investing. This should be a core read for any Investing curriculum.

A clearly written and compelling case for the individual investor to focus on index funds, and avoid the costs of active management. Well worth reading for both beginning and experienced investors. The eighth edition addresses the pandemic and investment issues resulting from that experience.

Excellent primer on the beauty and simplicity of index funds. Perhaps some reinforcement bias is at play with me since I've long been a fan of index funds but this book is a great and easy read. Relevant data and anecdotal real-life examples enable the reader to easily follow the author's points. I highly recommend to any investor regardless of income level, age, or financial acumen - you'll be glad you read it.

A fantastic and approachable book on personal and professional finance. Clearly explains why the old investing strategies no longer work and the near impossibility to beat the market in the long run. For anyone looking to generate consistent gains over the long term while minimizing the costs and risk, read this book; and INDEX YOU MONEY!

as an overview of personal finance principles and practices (notwithstanding my choice of occupation in active management and revealed preferences in my own finances), this is a solid, concise, more contemporary, and slightly more comprehensive alternative to graham's intelligent investor or perhaps malkiel's random walk down wall street.

This was a little hard to get through in the middle of the book, as it largely seemed to repeat itself, but we'll worth it in the end. His closing chapters were eloquently written and the repetition, however annoying, did serve the purpose of really drilling in your head that index funds are the way to go. I ended up settling for ETFs, but this book was responsible for leading me there and I am quite pleased with the outcome.