The Little Book that Still Saves Your Assets: What The Rich Continue to Do to Stay Wealthy in Up and Down Marketsby David M. Darst
When the crash of 2008 happened, most of us saw the value of our investments crash too. But while the majority of us struggled, the already affluent seemed to weather the storm just fine. How did they do it? The secret lies in two words: asset allocation. No one knows this better than David Darst, one of the world's foremost experts on what it takes to make the… See more details below
When the crash of 2008 happened, most of us saw the value of our investments crash too. But while the majority of us struggled, the already affluent seemed to weather the storm just fine. How did they do it? The secret lies in two words: asset allocation. No one knows this better than David Darst, one of the world's foremost experts on what it takes to make the most of your money.
Asset allocation isn't just a smart investing strategy; it's the ultimate determinant of success in the markets and it's the proven strategy the wealthy use to survive financial chaos and profit even in down markets. In The Little Book That Still Saves Your Assets, Darst distills his immense knowledge into a gem of a guide that lets you safeguard your money the same way the rich do. Based on a lifetime of clear thinking and innovative research borne out of decades of real-world experience, this book presents the art and science of asset allocation in a crisp, down-to-earth fashion. It's like having your own money manager to guide you through tough economic times.
Darst describes the practical principles behind the process of managing your money in today's challenging investment climate and stresses the substantial investment returns that the right mix of stocks, bonds, cash, gold, real estate, commodities, and other assets can bring to your portfolio. He also explains how to adjust your asset allocation model for today's post-crash market and determine the amount of risk your portfolio can tolerate.
Positioning your portfolio for optimal long-term performance is the key to a secure future. Now, you can use the same strategies that professional wealth managers use. With The Little Book That Still Saves Your Assets as your guide, Darst puts you on a path that will help you maximize your returns and achieve your life goals. Whether you do it on your own or with the help of a trusted advisor, you need to understand the ins and outs of asset allocation, and this book will help you learn what the wealthy have long knownthat 80 percent of investment returns are found to come from correct asset allocation.
Wealthy individuals and financial institutions use the asset allocation strategies outlined by David Darst to protect and grow their assets in any market. Let The Little Book That Still Saves Your Assets show you how to do it too.
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Meet the Author
DAVID M. DARST is a Managing Director at Morgan Stanley. He serves as Chief Investment Strategist of the firm's Global Wealth Management Group and is the Chairman of the Asset Allocation Committee. Darst is also the founding president of the Morgan Stanley Investment Group. Prior to joining Morgan Stanley in 1996, he was with Goldman Sachs for over twenty years, where he served as a senior executive in the Equities Division. Darst is often quoted in the New York Times, Wall Street Journal, and Financial Times, among others. He is also a frequent guest on CNBC, Bloomberg, and Fox News. He earned his MBA from Harvard Business School and received a BA in economics from Yale University. Darst is a CFA charterholder.
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This book is all about asset allocation, a topic I've been greatly interested in for at least 10 years. During that period I've read many books on the subject and found that they are in remarkable agreement on what makes sense for most ordinary investors: Diversify, use low cost index funds and ETFs, rebalance as needed, and keep a long-term perspective. This book is not in direct conflict with those other books, but is by a long margin the least useful. Darst is highly philosophical and gives no guidance that can easily be converted to specific actions. For the most part he describes what an investor should do, but not how he should do it. And in cases where he does describe the how, the prospective investor would have to set aside probably months of full-time effort to accomplish it. For the reader seeking useful advice on asset allocation, any of the following books are far superior: Index Funds, by Mark Hebner; The Lies About Money, by Ric Edelman; TheSmartest Portfolio You'll Ever Own, by Daniel Solin. Don't waste your money on this one.