William J. Bernstein

Adam Smith wrote that man has an intrinsic "propensity to truck, barter, and exchange one thing for another". But how did trade evolve to the point where we don't think twice about biting into an apple from the other side of the world? In A Splendid Exchange, William J. Bernstein tells the...

The classic guide to constructing a solid portfolio—without a financial advisor! Retired neurologist and master investor William J. Bernstein has seen it all throughout his career. Buying investments with borrowed money. Chasing past performance. Overestimating one's own risk tolerance...

Inspired by Charles Mackay's 19th-century classic Memoirs of Extraordinary Popular Delusions and the Madness of Crowds, Bernstein engages with mass delusion with the same curiosity and passion, but armed with the latest scientific research that explains the biological, evolutionary, and...

The Ages of the Investor: A Critical Look at Lifecycle Investing is intended to be the first installment in the Investing for Adults series. Just as grownups do not believe in the Tooth Fairy, the Easter Bunny, or Santa Claus, "Investing adults" know that there is no such creature as the...

As recently as a generation or two ago, the lack of financial ability wasn't a handicap for the average person. But in today's world - where most of us have been forced to manage our own investment and retirement portfolios - it has become essential to understand the finer points of our...

To save enough to retire comfortably, and then make your money last, is challenging, but it can be done. McQuarrie and Bernstein show you how. It won’t be enough to put a small chunk of each paycheck into your retirement plan and trust in the market. A diversified portfolio is not sufficient...