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The Future for Investors: Why the Tried and the True Triumph Over the Bold and the New
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Sales rank 36,446
Customers rating (based on 44 reviews)
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The new paradigm for investing and building wealth in the twenty-first century. The Future for Investors reveals new strategies that take advantage of the dramatic changes and opportunities that will appear in world markets.Jeremy Siegel, one of the world’s top investing experts, has taken a long, hard, and in-depth look at the market and the stocks that investors should acquire to build long-term wealth. His surprising finding is that the new technologies, expanding industries, and fast-growing countries that stockholders relentlessly seek in the market often lead to poor returns. In fact, growth itself can be an investment trap, luring investors into overpriced stocks and overly competitive industries. The Future for Investors shatters conventional wisdom and provides a framework for picking stocks that will be long-term winners. While technological innovation spurs economic growth, it has not been kind to investors. Instead, companies that have marketed tried-and-true products for decades in slow-growth or even declining industries have superior returns to firms that develop “the bold and the new.” Industry sectors many regard as dinosaurs—railroads and oil companies, for example—have actually beat the market.Professor Siegel presents these strategies within the context of the coming shift in global economic power and the demographic age wave that will sweep the United States, Europe, and Japan. Contrary to the popular belief that these economic and demographic trends doom investors to poor returns, Professor Siegel explains the True New Economy and how to take advantage of the coming surge in invention, discovery, and economic growth. The faster the world changes, the more important it is for investors to heed the lessons of the past and find the tried-and-true companies that can help you beat the market and prosper in the years ahead.
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| Publisher | Crown Business | | Release date | 03/2005 | | Availability | Usually ships in 24 hours | | Edition | Hardcover |
| | List price | $27.5 | | Our price | $18.15 (you save 34.00%) | | Used price | from $0.01 |
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 Just learn this one lesson
I absolutely loved how the author explained the growth trap. Many of investors think that in order to strike it rich, they need to invest in companies that experience high growth. But this may not necessarily be very smart.
"The growth trap seduces investors into overpaying for the very firms and industries that drive innovation and spearhead economic expansion. This relentless pursuit of growth - through buying hot stock, seeking exciting new technologies, or investing in the fastest-growing countries - dooms investors to poor returns. In fact, history shows that many of the best-performing investments are instead found in shrinking industries and in slower-growing countries."
This happens because growth is not the same as return. Growth is a variable in valuation. The key to investing successfully is purchasing an investment for less than what it is worth, not chasing growth. If there is anything you take from this book, just learn this lesson. It will protect you from foolishly chasing growth and thinking that you must invest in China and India to strike it rich.
- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market
An absolute gem of a book -- especially for those who sell short
Jeremy Siegel has written a solid, first rate book on investing. Note: this book will not "teach you how to become a great investor," no such book exists. Graham & Dodd will not.
There is no book that will teach you how to become as adept a tennis player as Serena Williams, or drive like Lewis Hamilton. You just have to begin with what you have, make a couple of mistakes, learn from them, and get better with time.
"The Future for Investors" teaches you how to "think about investing," in much the same spirit as Seth Klarman's "Margin of Safety." I believe Jeremy's book is especially valuable for those who engage in short-selling as an "alpha generation" strategy, not as a way of hedging.
The chapter on the Nasdaq bubble and the Telecom bust is one of the most compellingly written post-mortems on what was one of the most irrational phases of modern financial bubbles.
 Another book that is WRONG about the Stock Market
Right, Mr. Siegel gives the great advice in this investment book to buy stocks that pay high dividends.
Well, I took his advice and bought GE stock in 2007. According to his advice, a good high dividend pick. How could I go wrong.
Well, as I write this in 2008, I have lost over 50% of my investment. So what do I think of this book. Not very much.
Save your money by NOT buying this book.
a gift
I bought this as a gift for someone who dabbles heavily at the suggestion of someone who is a serious investor.
Valuable take on investing in value stocks
Siegel presents a compelling case for investing in value stocks (shares of companies with lower price-to-earning ratios that use profits to pay dividends to shareholders rather than fund rapid growth). The author backs up his conclusions with lots of data, and his treatment of the historical context and tax implications of value investing is straightforward and thorough.
So much stock picking advice focuses on growth, sector analysis, and territoriality; in addition to all the hype, adherence to those theories requires a lot of research and trading. More importantly, much of that advice cuts against the lessons from my own experience regarding personal and professional development, and my experience regarding the way in which you grow anything - namely, an intuitive sense that discipline and long-term perspective are far more important than the latest thing, or getting lost in the details of something that seems appealing, but that you don't fully understand. If you've got a similar mindset, you'll find this a book to be a great resource.
http://www.linkedin.com/in/creativelawtalent
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