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The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)
book

The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)

by Ken Fisher, Lara W. Hoffmans
November 2009
Beginner to intermediate content levelBeginner to intermediate
256 pages
10h 55m
English
Wiley
Content preview from The Ten Roads to Riches: The Ways the Wealthy Got There (And How You Can Too!)
The
Road
More
Traveled
1195
miss every bear market.
Tru
e passive investors rigidly remam
invested in good times and bad, no matter what! And they over-
whelmingly beat those who time markets. To time markets
you really must know what you're doing and precious few do.
That'
s really hard.
One
warning: Corrections are different from bear markets.
They
are short, sharp shocks
-big,
sudden drops designed to scare
the pants off you.
They
can happen once or twice a year.
Don
't be
fooled. Remain invested and it will be over in a few months. Real
bear markets start slow and calm. People are optimistic after the
peak. Anyone pessimistic then is seen as nuts . Stocks drop a little
month-to-month,
but
nothing dramatic. Meanwhile, fundamen-
tals unravel and few notice. Bear markets don't start violently
-not
even in
1929-if
measured correctly. (See my 1987 book, revised in
2007, The Wall Street Waltz , on this.)
BONDS
ARE
RISKIER
THAN
STOCKS
.
SERIOUSLY
But wait! Can't stocks be down huge? Isn't it better to give up some
return for a sleep-at-night factor?
No
. Remember, this is The Ten
Roads to Riches,
not
The N ine Roadsto Ri
ches
and One Road to a Comfy
Night's Sleep.
In the long-term, stocks aren 't risky. In the short-
term, they're volatile, which scares people . Ignore the caveman in
you wanting to hide from scary things. Investors fail with long-
term returns because they can't get this in their bones:
The
near term
doesn't matter
-hard ...
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Publisher Resources

ISBN: 9780470481554Purchase book