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Mark T. Hebner is a highly regarded authority on investing, author and creator of and is featured in an award winning documentary film on index funds. This is the condensed, updated and revised version of his original and widely praised first book, Index Funds. Like many investors, Hebner’s conversion to passive investing was sparked by his realization that the traditional brokerage paradigm had substantially hampered his own investment success — causing him to significantly underperform a risk-appropriate index portfolio by as much as $30 million. This striking revelation about just how much damage Wall Street inflicts on unwitting individual and institutional investors has served as the impetus for his tireless efforts to educate and inform investors so they can make better investment decisions. Hebner is on a mission to change the way the world invests by replacing speculation with an education. With this in mind, he leads a team of writers, artists, graphic designers, mathematicians, statisticians and researchers to build as well as maintain ifa.com — considered one of the Internet’s most comprehensive websites on investing. Hebner’s website, book, and documentary film, elegantly set forth long-term data and research that educate and empower investors to make sound investment choices. This book is arguably the most artistic ever written on investing. It contains more than 65 original oil paintings created by distinguished artist, Lala Ragimov. It also includes more than 115 color charts and graphs, many of which reflect as much as 90 years of stock market data. This one-of-a-kind little jewel is an eyepleasing manifestation of hundreds of studies, decades of research, and clearly represents Hebner’s ongoing commitment to educate investors throughout the world. It is destined to emerge as the go-to handbook for intelligent, evidence-based investing.

The financial services industry has a dark secret, one that costs global investors nearly $2.5 trillion each year. This secret quietly drains the investment portfolios and retirement accounts of almost every investor. In 1900, French mathematician Louis Bachelier unsuspectingly revealed this disturbing fact to the world. Since then, hundreds of academic studies have supported Bachelier’s findings. Unfortunately, investors pay little attention to academics and Nobel Laureates. The dark secret is that managers don’t beat markets. The fact is that markets outperform managers by a substantial margin over long periods of time. This book offers overwhelming proof of this and shows investors how to obtain optimal rates of return by matching their risk capacity to an appropriate risk exposure. A globally diversified portfolio of index funds is the optimal way to accomplish this. Index Funds: The 12-Step Recovery Program for Active Investors is the treatment of choice for wayward investors. It has been praised by Harry Markowitz, Burton Malkiel, David Booth and Theodore Aronson, among others. Investment advisor Anders Oldenburg of Seligson & Company nominated the previous version as one of the three “All-time Greatest Investment Books,” along with the writings of John Bogle and Warren Buffett. Most investors continue to embrace an active investing strategy, despite the extensive academic research demonstrating its futility. Market timing or speculating on the next winning stock, fund manager or investment style are all akin to gambling. Below-market returns in investment portfolios and pension accounts are the result of investors gambling with their hard-earned money. This 12-Step Program will put active investors on the road to recovery. Each step is designed to bring investors closer to embracing a prudent and sound strategy of buying, holding and rebalancing an index portfolio. Cover design: arismandesign.com

Index Funds: The 12-Step Recovery Program for Active Investors  

This book reveals the potential land mines and pitfalls of active investing and educates readers on the benefits of passive investing with i...

Index Funds: The 12-Step Recovery Program for Active Investors  

This book reveals the potential land mines and pitfalls of active investing and educates readers on the benefits of passive investing with i...