Stocks for the Long Run: The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies

by Jeremy Siegel

Stocks for the Long The Definitive Guide to Financial Market Returns & Long-Term Investment Strategies,6th EditionThe long-awaited revised edition of the stock trading classic gets you fully up to date on value investing, ESG investing, and other important developments

The definitive guide to stock trading, Stocks for the Long Run has been providing the knowledge, insights, and tools that traders need to understand the market for nearly 30 years. It’s been updated with new chapters and content


The role of value investing
The impact of ESG―Environmental/Social/Governance―issues on the future of investing
The current interest rate environment
Future returns investors should expect in the bond and stock markets
The role of international investing
The long-run risks on equity markets
The importance of black swan events, such as a pandemic and the financial crisis
You’ll also get in-depth discussions on the big questions investors Is international Investing dead? What do global changes like climate change mean for markets wo0rldwide?Consult this classic guide to master the stock market’s behavior, past trends, and future forecasts, so you have all the tools you need to develop a powerful long-term portfolio that’s both safe and secure.

Genres: Finance, Money, Business, Economics

486 pages, Paperback

Published November 15, 2022

Reviews

[Kristofer Venezia · Rating 4 out of 5]

It was pretty good, some parts I didn’t totally agree with and some contradictions. But easy to follow and pretty good

[Colin · Rating 4 out of 5]

This is a good primer and a good review of the fundamentals, data and history that back value investing. I was aware of overpricing of stocks that are selected for the S&P 500, but here the data backs my concerns. Once Tesla was selected for inclusion in the S&P 500, over the three months before it was included, the stock shot up in anticipation. This means Index Funds purchase S&P 500 stocks overpriced as they enter the index. Those kicked out of the index also experience sudden price falls, meaning they are sold low - so buying high and selling low - not a great strategy for accumulating wealth. Seigel also treats the recent pandemic, the magnitude of the financial crisis of 2008 and guides the reader through the fundamentals of each. The current landscape of rising interest rates are also addressed and the recent underperformance of value investing versus growth. Well written, accessible and with cogent data to back it up. The chapters are short. So, any reader can read one chapter at a time and take their time.

[Alex · Rating 3 out of 5]

‘Stocks for the Long Run’ is the kind of meat & potatoes finance book all too few investors are willing to read.

Rather than promise instant riches or sell a can’t-miss strategy that nobody else has thought of before, ‘Stocks for the Long Run’ explains the stock market to the interested layman. If you’d like to understand how value stocks work, how options work, how the market works, this is the book for you.

If, like me, you’re interested in (but not fascinated by) finance, you may find ‘Stocks for the Long Run’ rather dull. That said, reading only spy thrillers would be like eating only candy. At some point, you need a square meal. This book is it.

[SenZhang · Rating 5 out of 5]

I’ve read it twice. It’s not only a very good introduction to stock investment, but full of economics insights.

[Jonathan Harrow · Rating 4 out of 5]

SUMMARY:
-Stocks are a lot better than bonds in the long run, and are actually not that risky
-Global markets have often disappointed/underperformed America, like the Japanese market bubble.
-Stocks can hedge inflation
-Value investing has massively declined in success as of late.
-Momentum trading, time of year, "factor zoo."
-TAKEAWAY: INVEST IN THE S&P AND LEAVE IT

[Alex Pellicci · Rating 5 out of 5]

11/10. Stocks 7% historical real return since 1800 virtually over any 75 yr period. CPI went nowhere 1800 - 1940. Bonds 3.5% and bills 2.5% real returns but not even close to as consistent returns than stocks. Great history lessons. Explanations of other asset classes like gold and real estate. Other countries’ returns. Theories (random walk, EMH, etc). Valuation concepts, stocks’ reactions to interest rates and/or inflation, underperformance of value vs growth since GFC, Noisy Market explanation, Smart Beta (factor investing), ESG / Technical analysis (both stray from IV), Calendar Anomalies, Monetary Policy history, 1987/2010 flash crashes, world events, economic data (only thing that matters is if it was better/worse than EXPECTED), market volatility, the GFC, COVID, psychology, ETFS/MFS/Futures/Options, long-term mindset.

[Mzakaria · Rating 5 out of 5]

This is an encyclopedia that covers US stock market history, how it relates to the US economics. It also covers many topics about investing.

It tells you,
Why investing is important
It discusses in detail, all the different fads of investment techniques you might have heard about in your investment journey
It tells you, in very broad terms, what is the best way to invest your money as a retail investor

While I wish it had, some, more specific recommendation that can be directly applied (instead of 30% of your portfolio should cover international stocks) but the major strength of this book is that it shares very good data debunking almost every bad investment advice you might get out there. Excellent book and reference (I read it twice in one year).

[فيصل كركري · Rating 5 out of 5]

From the early reading minuities of this book I asked myself: how haven't I read this before? Jeremy Siegel's book is a master piece that every stock investor should read, reread and squeeze all what he can from the author's wise words. The writer will take readers into a joyful ride into the world of stock investing from asset classes, portfolio distribution, investing strategies, historical crashes and much more with an easy language and all the necessary evidence (studies, graphs, tables) to make a strong and convincing case for his opinions.

In short, a must read book.

[Nara]

This book is a monumental exploration of the history of investing, offering invaluable strategies for long-term success. Delving deep into historical evidence, it provides insights into market trends and factors to consider for enduring investments. Unlike offering clear-cut tactics, the book encourages readers to develop their own informed decisions based on the knowledge gained.

[Jon J Anderson · Rating 5 out of 5]

This is an updated revision to this famous book. In 28 fascinating chapters packed with data going back up to 200 years, Mr. Siegel shows us why stocks still "represent the best way to accumulate wealth in the long run," and that bonds are a poor investment except for short periods of time.

[David Veitch · Rating 4 out of 5]

Chapters a little hit and miss, but this book is very readable and provides a great general overview of a wide variety of topics.

[Mrmalibu · Rating 4 out of 5]

Great mental exercise reading this book.

[Boyang · Rating 5 out of 5]

This is a page-turner and gives an average person solid introduction to the landscape of stock investing. Nothing too exciting if you are a professional investor though. I picked out a few strategies from the book but their backtests are mediocre lately, probably because of alpha decay.