Stocks for the Long Run, Sixth Edition
Jeremy Siegel recently wrote, with Jeremy Schwartz, the sixth edition of his popular book, Stocks for the long Run: The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies . I read the fifth edition nearly a decade ago, and because the book is good enough to reread, this sixth edition gave me the perfect opportunity to read it again. I won’t repeat comments from my first review . I’ll stick to material that either I chose not to comment on earlier, or is new in this edition. Bonds and Inflation “Yale economist Irving Fisher” has had a “long-held belief that bonds were overrated as safe investments in a world with uncertain inflation.” Investors learned this lesson the hard way recently as interest rates spiked at a time when long-term bonds paid ultra-low returns. This created double-digit losses in bond investments, despite the perception that bonds are safe. Siegel adds “because of the uncertainty of inflation, bonds can be qu...