Profit through good times and bad with a resilient, diversified portfolio The Intelligent Asset Allocator has helped thousands of people like you build wealth through carefully diversified portfolios. Now, with global markets in constant flux, balancing risk and reward is more critical than ever. Self-taught investor William Bernstein offers no gimmicks, inside secrets, or magic solutions―just the facts about investing and calm, smart advice on how to build and manage a portfolio designed for the long run. This is all you need, despite claims of the advisors and pundits looking to profit from your hard-earned money. This easy-to-understand guide provides everything you need, including: * The basics of finance―historical, psychological, and institutional * Time-tested strategies for improving the risk/reward ratio * Ways to sharpen your focus to improve portfolio management Bernstein walks you through the fundamentals of important topics like multiple-asset portfolios, optimal asset allocations, market efficiency, and strategy implementation. No one knows the future of markets. Your forecast is as good as that of the last financial pundit you saw on TV. Trust your instincts, trust your research, and trust the proven-effect approach of The Intelligent Asset Allocator , and your portfolio will deliver returns through the blue skies and storms of financial markets. William Bernstein , Ph.D, M.D., is a retired neurologist and co-principal at the money management firm Efficient Frontier Advisors. He has written for The Wall Street Journal and Money, and was the 2017 recipient of the CFA Institute’s James R. Vertin Award for his body of financial publications. Time-Tested Techniques - Safe, Simple, and Proven Effective - for Building Your Own Investment Portfolio. "As its title suggest, Bill Bernstein's fine book honors the sensible principles of Benjamin Graham in the Intelligent Investor Bernstein's concepts are sound, his writing crystal clear, and his exposition orderly. Any reader who takes the time and effort to understand his approach to the crucial subject of asset allocation will surely be rewarded with enhanced long-term returns." - John C. Bogle, Founder and former Chief Executive Officer, The Vanguard Group President, Bogle Financial Markets Research Center Author, common Sense on Mutual Funds. "Bernstein has become a guru to a peculiarly '90s group: well-educated, Internet-powered people intent on investing well - and with minimal 'help' from professional Wall Street." - Robert Barker, Columnist, BusinessWeek. "I go home and tell my wife sometimes, 'I wonder if [Bernstein] doesn't know more than me.' It's humbling." - John Rekenthaler, Research Chief, Morningstar Inc. William Bernstein is an unlikely financial hero. A practicing neurologist, he used his self-taught investment knowledge and research to build one of today's most respected investor's websites. Now, let his plain-spoken The Intelligent Asset Allocator show you how to use the time-honored techniques of asset allocation to build your own pathway to financial security - one that is easy-to-understand, easier-to-apply, and supported by 75 years of solid history and wealth-building results. William Bernstein , Ph.D, M.D., is a retired neurologist and co-principal at the money management firm Efficient Frontier Advisors. He has written for The Wall Street Journal and Money, and was the 2017 recipient of the CFA Institute’s James R. Vertin Award for his body of financial publications. Imagine that you are suddenly transported to a country you have never before visited. Trying to find your way home, you are told that there is a new, well-equipped, comfortable, and reliable car parked nearby. You are handed the keys and told to drive to an airport several hundred miles away where a flight home awaits you. What do you do? Do you stride to the car without further ado, drive away, and hope that by luck you can pick your way to your intended destination? You hesitate. It does not go unnoticed by the locals that you are a rube, and further the proud driver of an expensive automobile. Several sleazy characters crowd around you to offer their expert assistance. Do you trust yourself to one of them? Hopefully you do neither and instead find the nearest book shop, purchase a detailed road map, and plot the most efficient route to the airport. Only then do you start on your way. Most investors find themselves in a very similar situation. Many choose the first course and begin their investing careers with bold action (usually committing a large amount of their capital to a very risky market sector at or near its top). They rarely have a clear idea of exactly where they are headed, or how to get there. Many more know that they are lost and depend on the kindness and expertise of strangers (otherwise known as "account executives" or "financial planners") to find their way. All too often, the interests of these "experts" are very different from th