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What Wall Street Doesn't Want You to Know: How You Can Build Real Wealth Investing in Index Funds

Customer Reviews:

A Good Summary of Recent Research on Investing

By Ron A Rhoades - March 22, 2001

Larry Swedroe presents in 357 pages a broad overview of much of the recent research and discourse presented by rational observers of Wall Street. For the individual investor the author cuts through the hype of Wall Street and forcefully feeds a diet of statistics and research in support of low-cost index funds. For investment advisors this book can be used as an introduction to much of the recent research on stocks and investing. Fans of the writings of John Bogle (Common Sense on Mutual Funds), Jonathan Clements (Wall Street Journal columnist), and Burton Malkiel (A Random Walk Down Wall Street) will particularly enjoy the many reinforcing concepts presented in this text.Larry correctly argues that to maximize the investor's chances for success the investor should take into account his or her time horizon, allocate assets among categories accordingly, and then diversify using low-cost and (where appropriate) tax efficient index funds or tax-managed mutual funds. Through... read more

A Great Book Based on a Bad Theory

By CFA - February 7, 2001

This is one of the best books on investing I've read (I've been at this several years, and read several dozen). It seems better argued than John Bogle's Common Sense on Mutual Funds, which isn't bad. Especially helpful was the author's demonstration that index investing isn't the same as investing in the S&P 500. One wants to invest in value, mid-cap, international, and other indices, and Swedroe tells you how and in what proportion. The book's subtle is "the only guide to a winning investment strategy you'll ever need." It sounds grand, but for the average investor (this includes most who think they aren't average) it's probably true. I especially appreciated his advice not to go to the funds, even index funds, for bonds. He doesn't seem to be pushing a product. But there's something puzzling about the book. If it's one of the best books on investing I've read, it's certainly the best book on investing I've ever read based upon a wrong theory. That theory is Modern... read more

A note of dissent

By J. - July 18, 2002

In addition to the fact that I, too, felt that I was enduring a commercial for DFA, I was annoyed by the fact that this book is nothing more than a rehash of The Only Guide to a Winning Investment Strategy You'll Ever Need: Index Mutual Funds and Beyond - The Way Smart Money Invests Today, Swedroe's May, 1998 book. He introduces a small number of new studies and illustrations, but if you've read the first book, there's no reason to look at this one.

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