For decades, thousands of people have gathered in Omaha, Nebraska for the Berkshire Hathaway AGM, and quizzed Warren Buffett and Charlie Munger on everything from the psychology of successful investors to the future of Coca-Cola and Apple. But unless you attended, for decades you only had access to what people remembered and reported back from Omaha.

In 2018, Berkshire released the archives of the annual meetings going back to 1994. Alex Morris―an equities analyst and financial writer at the TSOH Investment Research Service―watched hundreds of hours of video from these annual meetings (as well as the six AGMs held since 2018), covering more than 1,700 questions asked by shareholders over the past 31 years. He then gathered, organized and edited the most interesting material into a comprehensive and accessible form.

Buffett and Munger Unscripted is the result.

From the art of intelligent capital allocation to the best ways to judge and compensate management, from understanding the nature of markets to embracing the power of long-term time horizons, this is a book with compelling insights on every page. In addition to collecting many famous quotes in their original context, it is a deep treasure trove of profound insights on all aspects of investing and business.

Discover the importance of avoiding difficult decisions, the first question you should ask on a potential new investment, how to recover from unsuccessful investments, the importance of finding the right owners to partner with, Buffett and Munger's book recommendations--and much more.

The perfect companion to The Essays of Warren Buffett: Lessons for Corporate America and Poor Charlie's Almanack, Buffett and Munger Unscripted belongs on the bookshelf of everyone interested in the keys to success in business and investing.

Note: Alex will donate 50% of his net proceeds from Unscripted to GLIDE, a charitable organization that Warren Buffett has supported for years. While his philanthropic endeavors are not the focus of this book, that is another part of Warren's life where he has been a role model.

There are hundreds of exhibits in the investment factor zoo. Which ones are actually worth your time, and your money?

Andrew L. Berkin and Larry E. Swedroe, co-authors of The Incredible Shrinking Alpha, bring you a thorough yet still jargon-free and accessible guide to applying one of today's most valuable quantitative, evidence-based approaches to outperforming the market: factor investing. Designed for savvy investors and professional advisors alike, Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today takes you on a journey through the land of academic research and an extensive review of its 50-year quest to uncover the secret of successful investing.

Along the way, Berkin and Swedroe cite and distill more than 100 academic papers on finance and introduce five unique criteria that a factor (at its most basic, a characteristic or set of characteristics common among a broad set of securities) must meet to be considered worthy of your investment. In addition to providing explanatory power to portfolio returns and delivering a premium, Swedroe and Berkin argue a factor should be persistent, pervasive, robust, investable and intuitive.

By the end, you'll have learned that, within the entire factor zoo, only certain exhibits are worth visiting and only a handful of factors are required to invest in the same manner that made Warren Buffett a legend.

Your Complete Guide to Factor-Based Investing: The Way Smart Money Invests Today offers an in-depth look at the evidence practitioners use to build portfolios and how you as an investor can benefit from that knowledge, rendering it an essential resource for making the informed and prudent investment decisions necessary to help secure your financial future.

Buffett's Early Investments investigates ten investments that legendary investor Warren Buffett made in the 1950s and 1960s - earning him his first millions - and uncovers unique insights in the process.

Using the same documents Buffett used when he made these investments, the author reveals the fascinating inside stories of:

- How Philadelphia and Reading, Buffett's largest investment in 1954, transformed from a declining coal company to a diversified conglomerate whose stock went up twentyfold due to the intervention of Buffett's mentor, Ben Graham.
- How Buffett and Charlie Munger made their first formal investment together in Hochschild-Kohn.
- How corporate governance issues actually presented serious risk to Buffett's 1966 investment in Walt Disney.

Other investments analyzed include American Express, British Columbia Power, Cleveland Worsted Mills, Greif Bros, Marshall-Wells, Studebaker, and Union Street Railway. Not all of these investments worked out--this book shows why.

Buffett's Early Investments helps readers understand how history's greatest ever investor really made his returns in the years where he produced his best numbers.

You Weren't Supposed To See That is a collection of the most popular, hard-hitting, and informative posts from Joshua Brown's Reformed Broker blog.

There are secret ways of seeing the world of finance that every investor should know.

Overlooked things that tip the balance from failure to success.

Hidden truths that make the critical difference between understanding the world and being dangerously naive.

And surprising realities that determine whether or not you and your family are on the path to generational wealth.

In You Weren't Supposed to See That, Downtown Josh Brown--the original Wall Street blogger, star of CNBC's Halftime Report, and manager of billions of dollars as CEO of Ritholtz Wealth Management--collects and shares the most important of these secrets.

Drawing on 15 years of The Reformed Broker, the most-read financial blog in the world, Josh revisits, updates, and expands on the best of his wildly popular writing. As he does so, he helps you to discover all the most important, surprising, and sometimes painfully true secrets of finance, investing, and Wall Street that you need to know to thrive today.

With Downtown Josh Brown as your guide, you'll see things how they really are--and as you never have before.

The classic guide to constructing a solid portfolio―without a financial advisor!

First published two decades ago, The Four Pillars of Investing has been the go-to resource for an entire generation of investors. This updated edition of the investing classic provides the foundational knowledge you need to avoid the most common pitfalls and build a portfolio in today's roller-coaster world of investing.

Retired neurologist and master investor William J. Bernstein has seen it all throughout his career. Buying investments with borrowed money. Chasing past performance. Overestimating one's own risk tolerance. Listening to cable news. These are just a few of the many mistakes he has witnessed smart, serious investors make, to the peril of their portfolios. Add to these behavioral errors such economic factors as deflation, sudden stock declines, soaring inflation, and the like--and investing can seem like something to be avoided at all costs. But with the right discipline and knowledge, you can build and manage an impressive portfolio. It all comes down to understanding four key pillars:

• Theory: Risk and return go hand in hand--you can't make money without risk
• History: Understand past markets to understand today's markets
• Psychology: Avoid the most common behavioral mistakes that tank portfolios
• Business: The cost of investment services can be high--unreasonably high

After taking you on a deep dive into each of these topics, Bernstein walks you through the process of designing and maintaining a powerful portfolio.

Times have changed. Economies have changed. And markets are ever-changing. But sound investing principles haven't changed. Use The Four Pillars of Investing to stay a step ahead of your investing peers and build a portfolio to be proud of.

An Economist Best Book of the Year

Making Money and Keeping It - The Wall Street Journal

Over the past century, if the wealthiest families had spent a reasonable fraction of their wealth, paid taxes, invested in the stock market, and passed their wealth down to the next generation, there would be tens of thousands of billionaire heirs to generations-old fortunes today. The puzzle of The Missing Billionaires is why you cannot find one such billionaire on any current rich list. There are a number of explanations, but this book is focused on one mistake which is of profound importance to all investors: poor risk decisions, both in investing and spending. Many of these families didn't choose bad investments- they sized them incorrectly- and allowed their spending decisions to amplify this mistake.

The Missing Billionaires book offers a simple yet powerful framework for making important lifetime financial decisions in a systematic and rational way. It's for readers with a baseline level of financial literacy, but doesn't require a PhD. It fills the gap between personal finance books and the academic literature, bringing the valuable insights of academic finance to non-specialists.

Part One builds the theory of optimal investment sizing from first principles, starting with betting on biased coins. Part Two covers lifetime financial decision-making, with emphasis on the integration of investment, saving and spending decisions. Part Three covers practical implementation details, including how to calibrate your personal level of risk-aversion, and how to estimate the expected return and risk on a broad spectrum of investments.

The book is packed with case studies and anecdotes, including one about Victor's investment with LTCM as a partner, and a bonus chapter on Liar's Poker. The authors draw extensively on their own experiences as principals of Elm Wealth, a multi-billion-dollar wealth management practice, and prior to that on their years as arbitrage traders- Victor at Salomon Brothers and LTCM, and James at Nationsbank/CRT and Citadel.

Whether you are young and building wealth, an entrepreneur invested heavily in your own business, or at a stage where your primary focus is investing and spending, The Missing Billionaires: A Guide to Better Financial Decisions is your must-have resource for thoughtful financial decision-making.

This book draws the curtain back on the core building blocks of many hedge fund strategies.

What do hedge funds really do? These lightly regulated funds continually innovate new investing and trading strategies to take advantage of temporary mispricing of assets (when their market price deviates from their intrinsic value). These techniques are shrouded in mystery, which permits hedge fund managers to charge exceptionally high fees. While the details of each fund's approach are carefully guarded trade secrets, this book draws the curtain back on the core building blocks of many hedge fund strategies.

As an instructional text, it will assist two types of students:

• Economics and finance students interested in understanding what quants do, and
• Software specialists interested in applying their skills to programming trading systems.

What Hedge Funds Really Do provides a needed complement to journalistic accounts of the hedge fund industry, to deepen the understanding of nonspecialist readers such as policy makers, journalists, and individual investors.

The book is organized in modules to allow different readers to focus on the elements of this topic that most interest them. Its authors are a fund practitioner and a computer scientist (Balch), in collaboration with a public policy economist and finance academic (Romero).

An indispensable roadmap for creating a successful investment program from Yale's chief investment officer, David F. Swensen.

In the years since the now-classic Pioneering Portfolio Management was first published, the global investment landscape has changed dramatically -- but the results of David Swensen's investment strategy for the Yale University endowment have remained as impressive as ever. Year after year, Yale's portfolio has trumped the marketplace by a wide margin, and, with over $20 billion added to the endowment under his twenty-three-year tenure, Swensen has contributed more to Yale's finances than anyone ever has to any university in the country. What may have seemed like one among many success stories in the era before the Internet bubble burst emerges now as a completely unprecedented institutional investment achievement.

In this fully revised and updated edition, Swensen, author of the bestselling personal finance guide Unconventional Success, describes the investment process that underpins Yale's endowment. He provides lucid and penetrating insight into the world of institutional funds management, illuminating topics ranging from asset-allocation structures to active fund management. Swensen employs an array of vivid real-world examples, many drawn from his own formidable experience, to address critical concepts such as handling risk, selecting advisors, and weathering market pitfalls.

Swensen offers clear and incisive advice, especially when describing a counterintuitive path. Conventional investing too often leads to buying high and selling low. Trust is more important than flash-in-the-pan success. Expertise, fortitude, and the long view produce positive results where gimmicks and trend following do not.

The original Pioneering Portfolio Management outlined a commonsense template for structuring a well-diversified equity-oriented portfolio. This new edition provides fund managers and students of the market an up-to-date guide for actively managed investment portfolios.

Do you have a repeatable investing process to help you manage your portfolio in arguably the most uncertain market environment in history?

With 47.25 million unemployment claims in the US alone...

Household names like Hertz, Neiman Marcus and J.C. Penney declaring bankruptcy...

And the Fed's balance sheet now sitting at over $7 Trillion...

A full blown recession is now a matter of when, and not if.

Now, the average person losses 33% of their wealth in a recession. And in the 2008 financial crisis, the stock market dropped a whopping 57% in just 2 years.

Which means if you're relying on the market, or a pension fund for your nest egg. You need to be prepared for what is coming.

Fortunately, inside this book we lay out the straight facts (spoiler alert: there is no V-shaped recovery). As well as giving you practical advice on how to protect, and even growth your wealth in a recession.

Because, in the seed of crisis, comes great opportunity.

And investing legend Porter Stansberry (who correctly predicted the demise of Fannie Mae, Freddie Mac and General Motors) said this about the current times we're in.

Now is an unbelievable opportunity to establish a position in high-quality 'forever' businesses

Here's just a fraction of what you'll discover inside:

- If you currently have even a single ounce of gold or silver stored in a bank safe deposit box, it is at risk of being legally confiscated by the US government. This sounds absurd but it's happened before under similar conditions to what we're facing right now. Read why on page 94

- How to get all the protection of owning US Government bonds with nothing more than your regular brokerage account - Page 134

- 2 beginner friendly low-risk options strategies to protect your portfolio and gain extra monthly income - Page 142

- The #1 asset to own during a market crash. And no, it's not gold, silver or Bitcoin. - Page 137

- The bargain hunter problem. How ordinary investors lost over $500 million betting on oil prices. And how you can avoid the same fate - Page 74

- The #1 Gold Investment you can make today. During the last gold bull market this investment grew more than 500%. This time it's poised to go even higher - Page 93

- Should you include cryptocurrency in your portfolio? If yes, which ones? - Page 139

- The 3 industries hit hardest in a bear market. If too much of your portfolio is in these sectors, you're at risk of massive losses - Page 122

- A unique way to buy your favorite blue chip stocks like Coca-Cola, Microsoft or Amazon at massive discounts - Page 63

...and much, much more.

Plus $135 worth of free bonuses inside.

This is not a dense, theory-packed book with no practical advice. Written in plain English, it only contains strategies that you can implement with your regular brokerage account.

So if you're serious about your wealth. Then this book is a no-brainer. The decisions you'll make as a result of reading it will pay for the book 10x over.

To get your copy today, scroll up and click add to cart

An Economist Best Book of the Year

Making Money and Keeping It - The Wall Street Journal

Over the past century, if the wealthiest families had spent a reasonable fraction of their wealth, paid taxes, invested in the stock market, and passed their wealth down to the next generation, there would be tens of thousands of billionaire heirs to generations-old fortunes today. The puzzle of The Missing Billionaires is why you cannot find one such billionaire on any current rich list. There are a number of explanations, but this book is focused on one mistake which is of profound importance to all investors: poor risk decisions, both in investing and spending. Many of these families didn't choose bad investments- they sized them incorrectly- and allowed their spending decisions to amplify this mistake.

The Missing Billionaires book offers a simple yet powerful framework for making important lifetime financial decisions in a systematic and rational way. It's for readers with a baseline level of financial literacy, but doesn't require a PhD. It fills the gap between personal finance books and the academic literature, bringing the valuable insights of academic finance to non-specialists.

Part One builds the theory of optimal investment sizing from first principles, starting with betting on biased coins. Part Two covers lifetime financial decision-making, with emphasis on the integration of investment, saving and spending decisions. Part Three covers practical implementation details, including how to calibrate your personal level of risk-aversion, and how to estimate the expected return and risk on a broad spectrum of investments.

The book is packed with case studies and anecdotes, including one about Victor's investment with LTCM as a partner, and a bonus chapter on Liar's Poker. The authors draw extensively on their own experiences as principals of Elm Wealth, a multi-billion-dollar wealth management practice, and prior to that on their years as arbitrage traders- Victor at Salomon Brothers and LTCM, and James at Nationsbank/CRT and Citadel.

Whether you are young and building wealth, an entrepreneur invested heavily in your own business, or at a stage where your primary focus is investing and spending, The Missing Billionaires: A Guide to Better Financial Decisions is your must-have resource for thoughtful financial decision-making.

What Hedge Funds Do provides a needed complement to journalistic accounts of the hedge fund industry, to deepen the understanding of non-specialist readers such as policymakers, journalists, and individual investors.

What do hedge funds really do? These lightly-regulated funds continually innovate new investing and trading strategies to take advantage of temporary mispricing of assets (when their market price deviates from their intrinsic value). These techniques are shrouded in mystery, which permits hedge fund managers to charge exceptionally high fees.

While the details of each funds' approach are carefully guarded trade secrets, this book draws the curtain back on the core building blocks of many hedge fund strategies Beyond the book's instructional goals, What Hedge Funds Do provides a needed complement to journalistic accounts of the hedge fund industry, to deepen the understanding of non-specialist readers such as policymakers, journalists, and individual investors. It is written by a fund practitioner and computer scientist (Balch), in collaboration with a public policy economist and finance academic (Romero).

Stanley Druckenmiller may be one of the greatest compounding money machines in history.

He managed to achieve about a 40% average annual return on a multi-billion dollar hedge fund over 25 years during his time at Quantum and a 30% average annual return on his Duquesne Capital Management over 30 years. And both without a single down year.

Get easy access to Druckenmiller's unique perspective into trading, markets, life, and business with the nuggets of wisdom contained in this book.

Quality. We all make judgments about it every day. Yet articulating a clear definition of quality in an investing context is challenging. This book addresses the challenge, and distills years of practical investing experience into a definitive account of this under-explored investment philosophy. Finance theory has it that abnormal outcomes do not persist, that exceptional performance will soon enough become average performance. Quality investing involves seeking companies with the right attributes to overcome these forces of mean reversion and, crucially, owning these outstanding companies for the long term. This book pinpoints and explains the characteristics that increase the probability of a company prospering over time - as well as those that hinder such chances. Throughout, a series of fascinating real-life case studies illustrate the traits that signify quality, as well as some that flatter to deceive. The authors' firm, AKO Capital, has a strong track record of finding and investing in quality companies - helping it deliver a compound annual growth rate more than double that of the market since inception. Quality Investing sheds light on the investment philosophy, processes and tough lessons that have contributed to this consistent outperformance.

Prepare for or enhance a career investing in the credit markets with this authoritative guide.

The leveraged credit market is currently valued at over $4 trillion and is one of the fastest-growing asset classes, fueling demand for well-trained credit analysts.

The Credit Investor's Handbook: Leveraged Loans, High Yield Bonds, and Distressed Debt is the definitive guide for young investment professionals embarking on a career investing in the leveraged credit markets - whether public, private, performing, or distressed. Experienced professionals will also immensely benefit from this guide as they refine their investment skills.

Michael Gatto has twenty-five years of investing experience in the debt markets at Silver Point Capital (a $20 billion credit-focused fund) and Goldman Sachs' Special Situations Group. Furthermore, he is an adjunct professor at Columbia Business School and Fordham University's Gabelli School of Business. Michael brings these experiences together in this comprehensive manual, teaching the skills to succeed in the dynamic and complex credit markets. Michael brings highly complex case studies to life using decades of his first-hand war stories and combines them with reflections from leading industry professionals, often infused with humor, to make the book accessible, readable, and fun.

Michael's seven-step credit analysis process will prepare you for a career in credit investing at the top buy-side and sell-side firms on Wall Street by teaching you the technical skills needed to invest in the debt markets. Whether you are analyzing a loan origination in the private debt market, a new issue of a broadly syndicated loan (BSL), a high-yield bond (HY), or a secondary trade, the comprehensive knowledge gained from this book will equip you to make well-founded investment recommendations. Additionally, an entire section devoted to distressed debt investing incorporates a practitioner's perspective on the nuances of bankruptcy and restructurings to develop strategies to profit from opportunities in this opaque market. In clear, straightforward terms accessible to the layperson, Michael explains strategies pursued by distressed companies such as J. Crew and Serta that have led to creditor-on-creditor violence, giving you an insider's perspective on some of the least understood transactions in the distressed arena.

You will:

• Gain In-Depth Knowledge: Understand the complexities of credit markets, from trading dynamics to historical credit cycles, allowing you to identify debt investment opportunities--and avoid pitfalls.
• Master the Analytical Framework: Learn Michael's seven-step process for analyzing credit investments, including qualitative industry and business analysis, financial statement analysis, forecasting, corporate valuation, relative value analysis, and debt structuring.
• Learn How to Write an Investment Recommendation: Review real-life credit memos to understand how analysts translate this framework into recommendations that drive investment decisions at the top credit funds.
• Discover Key Concepts and Terminology: leveraged buyout financings (LBOs), trading levels (price, yields, and spreads), shorting, and credit default swaps.
• Navigate Distressed Debt: Explore the strategies and nuances of distressed debt investing, including bankruptcy, subordination, creditor-on-creditor violence, and high-profile case studies from the past three decades of Chapter 11 restructurings.

This book caters to finance majors pursuing investing careers, credit analysts seeking to enhance their skills, and seasoned professionals aiming to expand their expertise. Professors, researchers, lawyers, and advisors servicing the credit industry will also find immense value in this comprehensive guide.

If you feel like you've missed the boat on Crypto. Think again...
Because while the crypto market increased 10x in the past year alone, this book will show you it's not too late to invest in the #1 asset of the 2020s

What was once a fringe currency only used by a dark corner of the web... is now the fastest growing financial asset on Earth.

And this is just the beginning...

You see, we are still in just the 3nd inning of Crypto as a financial entity.

So while no financial vehicle is making people rich as quickly as Cryptocurrency...

Less than 8% of Americans and 3% of the worldwide population owns it!

But now, the major players are taking an interest.

Like the world's #1 venture capital firm Andreesen Horowitz who just announced the largest crypto fund of all time.

Or BlackRock, the world's largest asset manager (with over $9.5 Trillion of Assets) who just invested over $40 Billion in the crypto markets

And CEO of Social Capital, Chamath Palihapitiya, who predicts Bitcoin will be worth $1 million within the next 15 years.

So even if you've been unconvinced thus far, this book will give you the straight facts on Crypto as a financial asset... without any of the hype or noise.

Here's just a fraction of what you'll discover inside this book

• Better than Bitcoin: Dubbed the Holy Grail of cryptocurrencies - this is the one type of coin every crypto investor needs to own
• 3 giant red flags you need to watch out for when investing in altcoins
• The #1 coin to profit from the upcoming Web3 evolution
• 4 Easy ways to spot a cryptocurrency scam
• Ethereum's Co-Creator is back: Since 2015, Ethereum has gone up a jaw-dropping 167,099%... But if you missed out, don't kick yourself... because Ethereum's co-creator just launched a new crypto -- and if you move fast you can still get in under $3.
• DeFi 2.0 and its impact on the crypto ecosystem, along with the coin which will be the face of this $800 Billion industry
• Revealed: The Next $1 Trillion Dollar Coin
• The 4 strongest altcoins to buy in 2022: Ignore the meme fad coins which are guaranteed to lose you money... these 4 all have strong fundamentals are potential 10x upside from their current market cap
• A completely legal backdoor way to buy Bitcoin for 80c on the dollar. As a bonus you can even do this in your IRA account

This is not a 600 page theoretical book which you need a math degree to understand. Written in plain English and free from repetitive technical jargon. Every single piece of financial and technical terminology is clearly defined inside.

You'll find easy-to-follow advice in how to buy and store coins yourself... without having to pay expensive fees to middlemen.

For everyone who feels frustrated after watching Bitcoin and other cryptos soar in price...

This is your chance to get in while the going is good... and not feel like you missed out!

So even if you're never read a single finance or investing book in your life, you will immediately understand how to become a successful long-term investor.

To kickstart your Crypto investing journey today, scroll up and click add to cart

The latest entry in the best-selling guide to dividend investing

In the newly revised third edition of Get Rich with Dividends: A Proven System for Earning Double-Digit Returns, bestselling author and investing strategist Marc Lichtenfeld delivers a proven and reliable guide to realizing substantial returns--without taking on undue risk--using dividends. You'll learn to generate significant income with the author's sensible and low risk 10-11-12 System.

In the book, the author demonstrates techniques that won't require you to babysit each and every investment, freeing you up to enjoy more fulfilling pursuits as your nest egg and income streams grow steadily. You'll also find:

• Proven techniques to generate 12% average annualized returns over the long term
• Ways to make dividends the cornerstone of your investment and income strategy
• Methods for reducing risk and increasing returns at the same time

An essential resource for retail investors everywhere, Get Rich with Dividends: A Proven System for Earning Double-Digit Returns also deserves a place on the bookshelves of anyone interested in the financial and stock markets, as well as readers with an interest in business.

What is a safe haven? What role should they play in an investment portfolio? Do we use them only to seek shelter until the passing of financial storms? Or are they something more? Contrary to everything we know from modern financial theory, can higher returns actually come as a result of lowering risk?

In Safe Haven by hedge fund manager Mark Spitznagel, these questions and more are answered from the logical and unique perspective of one of the top practitioners of safe haven investing and risk mitigation in the world.

ASSET REVESTING is a ground-breaking book that reveals a revolutionary investment style the outdated financial industry does not want you to discover. The author, a seasoned financial expert, shows how using an asset hierarchy and deploying both risk and position management redefines how to build wealth. Asset Revesting solves several financial industry problems most people don't even know they have.

This book shows a different way to invest. It sheds new light on the investing world's hidden realities, risks, and unknown opportunities. It is a must-read for all investors, especially those using a diversified buy-and-hold portfolio. The content will alter your thinking and improve your outlook on investing and life.

IF YOU'RE AN INVESTOR, YOU PROBABLY HAVE THREE CHALLENGES: ​​​​​​​

- You want higher returns with less stress and lower risk.

- You want to reach your financial goals faster.

- You are worried you will run out of money in retirement.

ASSET REVESTING CAN SOLVE ALL THREE OF THE CHALLENGES ABOVE:

- Increase returns by holding only assets rising.

- Achieve your financial goals in years vs. decades.

- Become wealthier vs. poorer in retirement.

This overview of Asset Revesting is the first step toward total financial freedom. It's important to note that you won't find technical analysis or detailed step-by-step strategies here. Instead, you will learn what needs to be changed and how to harness this investing style, either on your own or with the author's help. This strategy is most efficient with investment accounts in the $100K - $5M range.

The book's approach tends to irk most financial industry professionals and is not for short-term aggressive traders. These folks, though curious to learn, will dislike any method that breaks free from the 'norm' and threatens their foundation. They may even attempt to discredit the book's content to calm the waters. But don't be fooled because, in doing so, their pushback supports the fact that Asset Revesting has merit and can begin the process of change that the financial industry (and potentially your savings) desperately needs.

From the leading authorities in their field--the newest, most effective tools for avoiding common pitfalls while maximizing profits through active portfolio management


Whether you're a portfolio manager, financial adviser, or investing novice, this important follow-up to the classic guide to active portfolio management delivers everything you need to beat the market at every turn.

Advances in Active Portfolio Management gets you fully up to date on the issues, trends, and challenges in the world of active management--and shows how to apply advances in the Grinold and Kahn's legendary approach to meet current challenges. Composed of articles published in today's leading management publications--including several that won Journal of Portfolio Management's prestigious Bernstein Fabozzi/Jacobs Levy Award--this comprehensive guide is filled with new insights into:

- Dynamic Portfolio Management
- Signal Weighting
- Implementation Efficiency
- Holdings-based attribution
- Expected returns
- Risk management
- Portfolio construction
- Fees

Providing everything you need to master active portfolio management in today's investing landscape, the book is organized into three sections: the fundamentals of successful active management, advancing the authors' framework, and applying the framework in today's investing landscape.

The culmination of many decades of investing experience and research, Advances in Active Portfolio Management makes complex issues easy to understand and put into practice. It's the one-stop resource you need to succeed in the world of investing today.

Active managers persistently lag the returns of benchmarks and index funds that track them, with the excuses for underperformance recycled every year. This comprehensive book is the antidote for the active managers' siren song. If you understand the benefits of indexing, or systematic investing, it will reinforce your commitment while increasing your knowledge.

If you don't yet believe, Swedroe and Berkin provide a compelling case that you're playing the loser's game of active management. Alpha, or outperformance against appropriate risk-adjusted benchmarks, is shrinking as it gets converted into beta, or factor exposures. They demonstrate that even for the most talented managers, their ability to add value is waning because: the amount of alpha available is declining; it must be split among an increasing amount of investment dollars; and the competition is getting tougher.

In this greatly expanded second edition, Swedroe and Berkin show you how to develop an investment plan that focuses on what risks to take, and how much of them, as well as how to build a diversified portfolio. They present a list of vehicles to consider when implementing your plan and provide guidance on the care and maintenance of your portfolio. As a bonus they add appendices that will make you a more informed and, therefore, better investor.