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Economist on Wall Street (Peter L. Bernstein's Finance Classics): Notes on the Sanctity of Gold, the Value of Money, the Security of Investments, and Other Delusions
Peter L. Bernstein,
New York, New York
Arthur Levitt, Jr.
ISBN: 978-0-470-28759-0
©2008
336 pages
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Description
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Bernstein's Economist on Wall Street is based on his observations of he market over a period of 15 years, from 1955 to 1970. However, the observations he made then have significant relevance for today. For instance, Chapter 6, titled The Economist As Portfolio Manager, discusses in detail the questions of institutional investment, risk (how much and where), and the unexpected facts regarding fixed-income securities vs. investing in stocks. Chapter 5, titled How Wrong Can You Be?, tackles the concept of trying to beat the market through research and forecasting -- and how often this can fail us. In the last chapter, Philosophy and Fantasy, Bernstein talks to the new "socially conscious" investor who struggles between doing what is right and doing what is right for his or her wallet.
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