Updates

  1. Person pages list letters, writing, profiles and links as sortable tables with filters, and show each person's companies as links; Fund letters show each letter's description in its own column.
  2. Experts show a checked job title and a short description of each person; 30 more people have photographs.
  3. Every company, fund, university and publication the experts work for has a page listing the people there.
  4. Fund letters show each letter's thesis and filter by it; 225 person pages list the essays, columns and newsletter issues the person wrote.
  5. Person pages list every essay and newsletter issue a person wrote, and their own books as a table in List view.
  6. Recommends shows the five largest kinds of book and the rest under More; browse pictures load sooner.
  7. Podcasts and talks link the original episode, filter by Audio and video or Press, and list each publisher once.
  8. Pages are wider, Recommends has List and Grid, and a filter clicked again turns off.
  9. Book cards sit in a ruled grid with Open Library and Goodreads links and each book's one-line note.
  10. Funds is now Investors; each investor's styles are buttons that filter the table.
  11. Podcasts and talks on a person's page filter by year and publisher and show as a list or a grid of pictures.
  12. Quotes show only people's own words: 472 summaries written by list sites are gone.
  13. Country pages open from Browse again, and every link on the shelf lands on a page.
  14. Subject and person pages show their sections as tabs, and each book appears once on a person's page.
  15. Book cards show the quote, who said it and the source; grids show five cards to a row.
  16. On a phone, a menu holds the sections, search, Updates, Feedback and dark mode.
  17. Feedback takes a screenshot of the page with no browser prompt, opens a screenshot full size when you click it, and clears itself once sent.
  18. Book cards are centred, search names the topic each book sits in, and any text cut short shows whole on hover.
  19. Search groups its results by kind: people, companies, geographies, subjects, topics, books, funds, fund letters and papers.
  20. The Books table lists who recommended each book by name, and the browser tab names the section you are in.
  21. Feedback can take a screenshot of the page, or one you paste or choose, and opens in the corner beside Updates.
  22. Each rail button reopens its section where you left it, and Browse, Table and People show on every book and subject page.
  23. Filters grey out choices that hold nothing instead of hiding them, and Books › People filters by authors or recommenders.
  24. Feedback takes a subject line and up to three screenshots.
  25. Biographies are grouped by the person they are about: 41 new pages, from Abraham Lincoln to Lee Kuan Yew.
  26. Sport splits into 23 sports, and Religion into one topic per faith.
  27. Book lists show as cards: the cover, one recommendation quote and every recommender by name.
  28. Seventeen subjects that had two or three pages under different names now have one page each.
  29. Every page lists its Experts as authors and recommenders, with a link to them on the Experts tab.
  30. Economics, Financial history, Financial panics and Accounting are subjects of their own, with one page per financial crisis.
  31. Book, person and subject pages open inside the app, so the tabs stay in view.
  32. 996 more book covers, and photographs or logos for 227 more people and companies.
  33. Books › Browse shows every subject as cards, and the rail holds Fund letters, Papers, Experts, Books and Funds.
  34. Every topic over 150 books splits into narrower topics, each with a page of its own.

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Portfolio Construction

Portfolio and risk

Turning a set of views into a set of weights: covariance, constraints, transaction costs and the gap between theory and a real book.

Books 12Experts 6Recommenders 7

Start here

  1. The Intelligent Asset AllocatorWilliam J. Bernstein, 2000
  2. Capital IdeasPeter L. Bernstein, 1992
  3. Expected ReturnsAntti Ilmanen, 2011
Portfolio SelectionPortfolio Selection
T1 Portfolio Selection
Harry M. Markowitz · 1959
Open LibraryGoodreads

An asset's risk depends on how it moves with the rest of the portfolio.

Capital IdeasCapital Ideas
T1 Capital Ideas
Peter L. Bernstein · 1992
Open LibraryGoodreads

How Markowitz, Sharpe, Fama, Black and Scholes built the theory of modern finance.

Active Portfolio ManagementActive Portfolio Management
T2 Active Portfolio Management
Richard C. Grinold, Ronald N. Kahn · 1995
Open LibraryGoodreads

The quantitative method for building active portfolios against a benchmark.

The Intelligent Asset AllocatorThe Intelligent Asset Allocator
T2 The Intelligent Asset Allocator
William J. Bernstein · 2000
Open LibraryGoodreads

Modern portfolio theory for individual investors, explained without heavy maths.

Recommended by: The Barefoot Investor

Expected ReturnsExpected Returns
T2 Expected Returns
Antti Ilmanen · 2011
Open LibraryGoodreads

The evidence on what drives returns across asset classes: risk factors and behaviour.

Efficiently Inefficient
T2 Efficiently Inefficient
Lasse Heje Pedersen · 2015
Open LibraryGoodreads

Markets pay skilled active managers; a survey of the strategies they run.

Investment Titans: Investment Insights from Investment Titans: Investment Insights from the Minds that Move Wall Street
T4 Investment Titans: Investment Insights from the Minds that Move Wall Street
Jonathan Burton · 2000
Open LibraryGoodreads

Recommended by: Mohnish Pabrai

Behavioral Finance and Wealth ManagementBehavioral Finance and Wealth Management
T4 Behavioral Finance and Wealth Management
Michael M. Pompian · 2008
Open LibraryGoodreads

Applies behavioural finance to building portfolios for real clients.

MONEY Master the GameMONEY Master the Game
T4 MONEY Master the Game
Tony Robbins · 2014
Open LibraryGoodreads

Interviews with 50 investors, from Dalio to Bogle, turned into money advice.

“…books I've recommended, highlighted to death, or forced on friends.” — Andrew Wilkinson

Source: Andrew Wilkinson's Bookshelf, neverenough.com

Recommended by: Andrew Wilkinson, Nat Eliason, Ray Dalio and 1 other

The Fama Portfolio: Selected Papers of EugenThe Fama Portfolio: Selected Papers of Eugene F. Fama
T4 The Fama Portfolio: Selected Papers of Eugene F. Fama
John H. Cochrane, Tobias J. Moskowitz · 2017
Open LibraryGoodreads

Eugene Fama's key papers on efficient markets and asset pricing, with commentary.

In Pursuit of the Perfect Portfolio: The StoIn Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest
T4 In Pursuit of the Perfect Portfolio: The Stories, Voices, and Key Insights of the Pioneers Who Shaped the Way We Invest
Stephen R. Foerster · 2021
Open LibraryGoodreads
Successful Investing Is a Process: StructuriSuccessful Investing Is a Process: Structuring Efficient Portfolios for Outperformance
T4 Successful Investing Is a Process: Structuring Efficient Portfolios for Outperformance
Jacques Lussier
Goodreads

A process for building portfolios that earns most of active managers' gains, cheaply.

Recommended by: Patrick O'Shaughnessy

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