Multi Asset Funds

[G-Man]

Bernstein is a sort of second-tier for me; he offers more complexity than I care to deal with. I do have a few of his books, however.

He provides us with some book selection guidance in the preface to "Rational Expectations." Commenting on his first book "The Intelligent Asset Allocator" he says:

"The density of the book's math and quantitative exposition made it accessible [only to] finance professionals and scientists/engineers. I attempted to remedy that "mistake" but was only partially successful with 'The Four Pillars of Investing.' So then I followed that book with 'The Investor's Manifesto," which either stripped out nearly all the quantitative content or exiled it to optional text boxes."
​

So I think he is telling most of us to choose "The Investor's Manifesto" or another later book.

Actually, my favorite Bernstein piece is "If You Can" https://www.etf.com/docs/IfYouCan.pdf (free 16 page download)

Any other books you recommend reading?

 

[OldShooter]

Any other books you recommend reading?

I can bury you!

Easy entry: "The Coffee House Investor" by Bill Schultheis https://www.coffeehouseinvestor.com/ (This is Bill's first book; read it before reading his second one.)Bill is so laid back that the book includes a recipe for pumpkin pie.

Less laid-back but a pretty easy read: "The Bogleheads Guide to Investing" by Taylor Larimore et al https://www.amazon.com/Bogleheads-Guide-Investing-Taylor-Larimore/dp/0470067365

The well-loved classic: "A Random Walk Down Wall Street" by Burton Malkiel https://www.amazon.com/Random-Walk-Down-Wall-Street/dp/0393330338 Personally, I think Malkiel has been overtaken by the most recent revision (May 2021) of "Winning the Loser's Game" by Charles Ellis https://www.amazon.com/Winning-Losers-Game-Strategies-Successful-dp-1264258461/dp/1264258461

We are not the coldly rational investors we think we are. "Misbehaving" by Richard Thaler explains. https://www.amazon.com/Misbehaving-Behavioral-Economics-Richard-Thaler/dp/039335279X "Your Money and Your Brain" by Jason Zweig further explains. https://www.amazon.com/Your-Money-Brain-Science-Neuroeconomics/dp/0743276698

Nassim Taleb can be kind of a lunatic but IMO he is worth reading eventually. Try "Fooled by Randomness" https://www.amazon.com/Fooled-Randomness-Hidden-Markets-Incerto/dp/0812975219 His theme in the book is the problems of investors who have gotten lucky and from that concluded that they are geniuses. He also popularized the concept of the black swan in "Black Swan." https://www.amazon.com/Black-Swan-Improbable-Robustness-Fragility/dp/081297381X