Rational Expectations

Rational Expectations

by William Bernstein

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Product Details

BN ID: 2940149901395
Publisher: Efficient Frontier Publications, LLC
Publication date: 12/03/2014
Sold by: Barnes & Noble
Format: NOOK Book
Pages: 210
Sales rank: 807,021
File size: 2 MB

About the Author

William Bernstein, Ph.D., M.D., is a retired neurologist in Oregon. Known for his website on asset allocation and portfolio theory Efficient Frontier, Dr. Bernstein is also a co-principal in the money management firm Efficient Frontier Advisors, has authored several best-selling books on finance and history, and is often quoted in the national financial media.

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Rational Expectations 5 out of 5 based on 0 ratings. 1 reviews.
Anonymous More than 1 year ago
This book updates Bernstein's "Intelligent Asset Allocator" (2000), and is equally impressive. Like its precursor, there is more math here than in "Four Pillars of Investing" (2002, new edition 2010). I would recommend "Four Pillars" for someone who does not want the numbers -- but "Rational Expectations" is better, for those who are up to it. I have not read the earlier short books in his "Investing for Adults" series, but my impression is that "Rational Expectations" incorporates most of that material, along with quite a bit more. Bernstein discusses asset classes, allocations between them (and how the allocations should change over one's lifetime, and how to rebalance them), how our psychology can get in the way of good results, the nature of risk in today's markets, the effects on the markets of high-frequency trading, zero-percent interest rates, and much more. An excellent book: highly recommended.