The Future for Investors: Why the Tried and the True Triumphs Over the Bold and the New

Jeremy J. Siegel

mar 2005 · Shitur nga Crown Currency

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The new paradigm for investing and building wealth in the twenty-first century. The Future for Investors reveals new strategies that take advantage of the dramatic changes and opportunities that will appear in world markets.

Jeremy Siegel, one of the world’s top investing experts, has taken a long, hard, and in-depth look at the market and the stocks that investors should acquire to build long-term wealth. His surprising finding is that the new technologies, expanding industries, and fast-growing countries that stockholders relentlessly seek in the market often lead to poor returns. In fact, growth itself can be an investment trap, luring investors into overpriced stocks and overly competitive industries.

The Future for Investors shatters conventional wisdom and provides a framework for picking stocks that will be long-term winners. While technological innovation spurs economic growth, it has not been kind to investors. Instead, companies that have marketed tried-and-true products for decades in slow-growth or even declining industries have superior returns to firms that develop “the bold and the new.” Industry sectors many regard as dinosaurs—railroads and oil companies, for example—have actually beat the market.

Professor Siegel presents these strategies within the context of the coming shift in global economic power and the demographic age wave that will sweep the United States, Europe, and Japan. Contrary to the popular belief that these economic and demographic trends doom investors to poor returns, Professor Siegel explains the True New Economy and how to take advantage of the coming surge in invention, discovery, and economic growth.

The faster the world changes, the more important it is for investors to heed the lessons of the past and find the tried-and-true companies that can help you beat the market and prosper in the years ahead.

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Jeremy J. Siegel is the Russell E. Palmer Professor at the Wharton School of the University of Pennsylvania. Dr. Siegel received his Ph.D. in economics from M.I.T. and is the author of the classic and influential Stocks for the Long Run. Professor Siegel writes and lectures about the economy and financial markets and has appeared on CNN, CNBC, NPR, and other networks. He is a regular columnist for Kiplinger’s and has contributed op-eds and articles to the Wall Street Journal, Barron’s, the Financial Times, and other national and international news media.