"Sheldon Jacobs is a level-headed gentleman who is a cross between Albert Einstein, the Dalai Lama, and Vanguard founder Jack Bogle and who had a solid record editing and publishing The No-Load Fund Investor financial newsletter for over a quarter-century."
"King of no-loads."
- Investor's Business Daily
"Dean of the no-load fund watchers."
- USA Today
"Among financial experts who are able to think with a small investor's perspective, no one is more level-headed than Sheldon Jacobs."
- Bottom Line/Personal
In July of 1993, Sheldon Jacobs was one of five nationally recognized mutual fund advisors chosen by The New York Times for a mutual fund portfolio competition. The portfolio that he selected produced the highest return of all contestants for almost seven years, and the Times quarterly publication of this contest helped him become one of the best-known mutual fund advisorsin America.
Investing without Wall Street shows investors how to achieve the greatest wealth with the least effort. It details the five essentials that even a kid could master and shows that they are all you need to be a successful investor. With this knowledge, the average investor can invest on his or her own and make $252,000 more than a person investing the same way who shares his or her profits with professionals. This book will teach you how.
Introduction: Take a Journey with Me 1
Part I The Five Essentials 9
Chapter 1 The First Essential: Determine the Right Asset Allocation 11
Chapter 2 The Second Essential: Diversify within Asset Classes 19
Chapter 3 The Third Essential: Understand and Control Risk 37
Chapter 4 The Fourth Essential: Keep Your Costs Low 43
Chapter 5 The Fifth Essential: Choose the Right Financial Media to Follow 49
Part II Actions and Strategies to Implement the Essentials 75
Chapter 6 Developing Media Expertise 77
Chapter 7 How to Build Mutual Fund Portfolios for Lifetime Profits 99
Chapter 8 Index Fund Investing: Beyond the S&P 500 113
Chapter 9 How to Survive Bear Markets 121
Chapter 10 The Case for Market Timing 129
Chapter 11 The No-Work Way to a Comfortable Retirement . . . Maybe 145
Chapter 12 Dealing with Professionals 153
Part III Becoming a Well-Rounded Money Maven 173
Chapter 13 For Clearer Thinking 175
Chapter 14 The Psychology of Investing 195
Chapter 15 Integrity, or the Lack of It 211
Chapter 16 Women Aren’t Different; They Just Live Longer 225
Chapter 17 Adventures in Collectibles 233
Chapter 18 Vanity Investments 239
Chapter 19 Increasing Your Workplace Income 245
Epilogue: Journey's End 257
Appendix: Directory of Newsletters with Model Portfolios 261
About the Author 283
A wise man should have money in his head, but not in his heart.
- Jonathan Swift