Stocks for the Long Run
Warning: Shameless name dropping ahead!
Stocks for the Long Run by Jeremy Siegel
I have a first edition of this book. When it was first published, I worked at Wharton during the summer when I was an undergrad. Dr. Siegel was part of the program where I worked. I didn’t save enough during those two summers. I remember using my tax refund from those earnings one year on a Coach Baxter Bag, which I still carry proudly. A classic never goes out of style. Same for this book.
He has run the statistical analysis that so many journalists repeat. Over any given 20-year period, including the Great Depression, stock investment offers the best return over any other investment vehicle. While the book can be dry statistical analysis, the charts are illuminating. It’s probably even more jazzed up for later editions. Let me tell you the original red and aqua color scheme for the first edition book jacket isn’t the most appealing.
If you are curious about the assertion that stocks are the best investment vehicle, you really ought to read this book. He’s talking about stocks as a class of investments, not individual stocks. Also, this book will convince you that the Vanguard model of indexing is the best way to go. If you are lazy like me, your best bet is to try to make the same returns as the market. It’s when I get too big for my investment britches that I start losing money. Beating the market is tough and I have more modest ambitions than that.
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Posted on 27-Sep-07 at 9:06 pm | Permalink