The Four Pillars of Investing

By William Bernstein,

Book cover of The Four Pillars of Investing: Lessons for Building a Winning Portfolio

Book description

This new edition of the bestselling guide brings sophisticated investors-including institutional and individual investors, investment bankers, and those who want to follow in the footsteps of legends like John Bogle-up to date on ETFs, risk management, neuropsychological investing concepts, and more

Since its original publication two decades ago, The Four…

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Why read it?

1 author picked The Four Pillars of Investing as one of their favorite books. Why do they recommend it?

This is a wonderful book organized around four main concepts, each valuable in their own right: 1) The Theory of Investing; 2) The History of Investing; 3) The Psychology of Investing; and 3) The Business of Investing. 

The latter, the business section makes it clear the stockbroker is not your friend, even though they’re friendly (by design). Having started my career on the sales side of the business, I quickly learned the agenda is less about the customer and more about product sales, even though I was also a Certified Financial Planner ProfessionalTM

I dropped sales licenses and…

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