The Ages of the Investor: a Critical Look at Life-cycle Investing

Brief Description: "Investing for Adults is an online series of short ... aimed at those who hunger for a more advanced appreciation of finance. 'The Ages of the Investor: A Critical Look at Life-cycle Investing'[is] a look beyond the "Age equals bonds" rule towards an asset allocation framework that changes qualitatively, as well as quantitatively, as the investor navigates his or her way through storm-tossed markets towards retirement."--Provided by publisher. Marc Notes: Includes bibliographical references.; The Ages of the Investor: A Critical Look at Life-cycle Investing is intended to be the first installment in the Investing for Adults; Investing for Adults is an online series of short ... aimed at those who hunger for a more advanced appreciation of finance. 'The Ages of the Investor: A Critical Look at Life-cycle Investing'[is] a look beyond the Age equals bonds rule towards an asset allocation framework that changes qualitatively, as well as quantitatively, as the investor navigates his or her way through storm-tossed markets towards retirement.--Provided by publisher.. Publisher Marketing: "The Ages of the Investor: A Critical Look at Life-cycle Investing" is intended to be the first installment in the "Investing for Adults" series. Just as grown-ups do not believe in the Tooth Fairy, the Easter Bunny, or Santa Claus, "Investing adults" know that there is no such creature as the Stock-picking Fairy or the Market-timing Fairy. Further, there is no Risk Fairy who will write you cheap options that will protect your stock holdings against loss. Investing adults are familiar with Gene Fama, Zvi Bodie, Jack Bogle, and Burton Malkiel, and understand that a mean variance optimizer does not blend vegetables. In other words, this series is not for beginners. Future topics will, with luck, include the limits of market efficiency and diversification in increasingly non-segmented global markets.

Contributor Bio:  Bernstein, William J William Bernstein, Ph. D., M. D., has become a grassroots hero to independent investors everywhere. He has made a name for himself by questioning the value of Wall Street wisdom, skewering the recommendations of self-serving stockbrokers, and showing legions of investors how to successfully manage their own investments with intelligence and long-term vision. Bernstein is the author of "The Intelligent Asset Allocator", editor of the quarterly asset allocation journal "Efficient Frontier", ""founder of the popular website EfficientFrontier.com, and a principal in Efficient Frontier Advisors. He is often quoted in national publications, including "The Wall Street Journal", "Barron's", "Money", and "Forbes".