I’ve been known to read the occasional book. And I also listen to a lot of podcasts. So, while catching up on some older Marketplace Money podcasts, I heard an interview with Burton Malkiel, author of A Random Walk Down Wall Street. He and another finance writer, Charles Ellis (author of Winning the Loser’s Game: Timeless Strategies for Successful Investing) got together to write a streamlined investing book. They modeled the simplicity and straitforwardness of their book on Strunk and White’s “The Elements of Style”.
This book, The Elements of Investing, is VERY basic. If you are completely in the dark about personal finance, it might be a good place to start. It lists basic tenets of personal finance. Spend less than you earn (so that you will have extra money to invest). Invest in low cost index funds (buy and hold, don’t spend extra money on fees).
If you’re looking to read this book, and you’re too lazy to go to your library, there’s another free option: As “My Money Blog” posted, you can download a digital (pdf) copy of the book from Vanguard….
This book is great for beginners. The basic rules they present (and then present again and again) are important first starts to investing. I was hoping the book would have more specific investment advice; I know that low cost index funds are great, but what if you don’t have those options in a 401(k)? What else can I do?
What are YOUR “Elements of Investing”?