Lifecycle Investing: A New, Safe, and Audacious Way to Improve the Performance of Your Retirement Po

《Lifecycle Investing – A New, Safe, and Audacious Way to Improve the Performance of Your Retirement Portfolio》

简介 Intro

<Lifecycle Investing: A New, Safe, and Audacious Way to Improve the Performance of Your Retirement Portfolio>—— Ian Ayres / Barry Nalebuff

Diversification provides a well-known way of getting something close to a free lunch: by spreading money across different kinds of investments, investors can earn the same return with lower risk (or a much higher return for the same amount of risk). This strategy, introsrcced nearly fifty years ago, led to such strategies as index funds.

What if we were all missing out on another free lunch that’s right under our noses?

In Lifecycle Investing , Barry Nalebuff and Ian Ayres—two of the most innovative thinkers in business, law, and economics—have developed tools that will allow nearly any investor to diversify their portfolios over time. By using leveraging when young—a controversial idea that sparked hate mail when the authors first floated it in the pages of Forbes —investors of all stripes, from those just starting to plan to those getting ready to retire, can substantially resrcce overall risk while improving their returns.

In Lifecycle Investing , readers will learn How to figure out the level of exposure and leverage that’s right for you How the Lifecycle Investing strategy would have performed in the historical market Why it will work even if everyone does it When not to adopt the Lifecycle Investing strategy Clearly written and backed by rigorous research, Lifecycle Investing presents a simple but radical idea that will shake up how we think about retirement investing even as it provides a healthier nest egg in a nicely feathered nest.

关键词：Lifecycle Investing;

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读者评论 Readers\’ Comments

风险应该均匀的平摊到一生当中、年轻时应该加杠杆买股票大盘的理念很有说服力。第八章有具体的操作细节包括买LEAPs call的时候如何选strike price和计算隐含利率。

终于有本讲杠杆怎么用的书了，也深深认同。大部分人富起来或多或少用了杠杆（比如房贷）。第8章介绍了各类杠杆的使用优劣和成本。但有些问题: 指数投资并不普适（比如日本），选择指数其实是alpha, 不是beta；很多人的生活不够稳定，并不适合背杠杆，哪怕2:1. 说到底这本书适合的还就是藤校毕业的精英，和普通人没什么关系