Re: Another book question
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Read anything by Swedroe or Ferri on why actively picking stocks for long term investing is a losers game.
You can't and won't win. (winning as defined by beating index).
See academic papers by Fama and French.
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Out of curiosity, how do these academics explain Warren Buffett's track record?
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Sell side Wall street loves buffet because they can point to him and everyone shakes their head up and down, with mouth wide open, believes they can do it.
Well you can't.
He is a business owner and investor that takes an active management role in the his companies.
Buying 10,000 shares of IBM does not make you a business owner.
Check out Effecient Frontier, Random Walk Down Wall Street and The Only Investment Guide you'll ever need if you want irrefutable evidence that active stock picking is a losers game.
Living the lie is more fun than indexing and asset allocation, I agree.
But its still a lie.
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