● Rational Expectations: Asset Allocation for Investing Adults
By William J. Bernstein
Summary via author’s website, EfficientFrontier.com
It’s been almost two decades since the first electronic edition of The Intelligent Asset Allocator appeared online, so I decided to start with a clean sheet of paper in the wonky world of quantitatively based asset allocation aimed at small investors. Continuing the theme of the Investing for Adults series, this full-length finance title is not for beginners, but rather assumes a fair degree of quantitative ability and finance knowledge. If you think you can time the market or pick stocks and mutual fund managers, or even if you think that you can formulate an optimally efficient mean-variance asset allocation with a black box, then you’d best peruse the reading list first, and come back in a few years.
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