Essential knowledge for all investors
In his book "The Four Pillars of Investing," William J. Bernstein provides investors with a comprehensive guide to building and maintaining a successful investment portfolio. Bernstein identifies four essential pillars that serve as the cornerstones of successful investing: theory, history, psychology, and business.
The first pillar, theory, revolves around understanding the underlying concepts and principles that drive successful investing. Bernstein emphasises the importance of asset allocation, which is the process of distributing investments across various asset classes, such ...