Index Funds: The 12-Step Recovery Program for Active Investorsby Mark T. Hebner
UPDATED for 2015 - This book reveals the potential land mines and pitfalls of active investing and educates readers on the benefits of passive investing with index funds. Hebner's book details the possible perils associated with stock picking, mutual fund manager picking, market timing, and other wealth depleting behaviors. This 12-Step Program teaches the
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Mr. Hebner's book is the best comprehensive book I have ever read about index fund investing. His book is written in easy to understand language and covers virtually every important topic in the investing field. As a former pension fund professional and executive team member of a large pension fund system, I appreciate the level of data accuracy in the 12-Step Recovery Program for Active Investors. For example, I appreciate the asset allocation information in this book. The asset allocation suggestions are world class and reflect evidenced based information from some of the greatest financial and investment minds of our time. As a life time student of financial history, I also appreciate the writers understanding of past stock market crashes, panics, and manias. Few investment professionals take the time to learn about financial history and how past lessons apply to today's investing world. Having a detailed background in financial history helps investors stay calm in the face of economic storms. More specifically, the information in this book will help you make wise investment decisions during each type of economic uncertainly and change. The 12-step program is the lighthouse you need to see clearly in the face of economic and investment storms. Individual and institutional investors alike will greatly benefit from the lessons in this book. If you want to greatly accelerate your investment knowledge, the 12 step program is a must read.