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Stocks for the Long Run
Book

Stocks for the Long Run

The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies

Jeremy J. Siegel
McGraw-Hill, 2014
First Edition: 1994

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Editorial Rating

7

Qualities

  • Applicable
  • Well Structured
  • For Beginners

Recommendation

Wharton professor Jeremy J. Siegel’s classic text belongs in the hands of any diligent investor. From a practical perspective, his book covers every serious event and variable that could affect a diversified portfolio over the course of many decades. As the market proves daily, investing is complex because all types of news and events – as well as human behaviors – influence investment returns. In more than 400 information-packed pages, Siegel’s revised fifth edition of his classic text helps you better understand this complicated socioeconomic system and shows how that knowledge can improve your finances. While never giving investment advice, getAbstract recommends this best-selling guide to both new and seasoned investors.

Take-Aways

  • From 1802 to 2012, stocks averaged a 6.6% annual real return, while long-term government bonds averaged 3.6%; short-term bonds, 2.7%; and gold, 0.7%.
  • Gold barely kept up with inflation over the 210-year period, while shares, on average, doubled their “purchasing power” every 10 years.
  • While equities produce the highest real returns in the long run, in the short run they undergo tremendous volatility.

About the Author

Jeremy J. Siegel is a finance professor at the University of Pennsylvania’s Wharton School and a senior adviser at WisdomTree Investments.

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