by Jeremy Siegel
The fifth edition of Jeremy Siegel’s Stocks for the Long
Run, features great updates written in light of recent economic events, i.e.
important stuff that happened long after the publication of this book. That is
why after 20 years, it remains required reading for stock investors of all
ilks, and its value continues to grow through the years. With Mr. Siegel’s
penchant for being a scholar and purveyor of insight and current knowledge, he
expertly extends his previous work to cover the real estate implosion, the 2008
depression, the post-depression recovery, and the Fed’s tight money policy and
quantitative easing. Everything that the press and TV financial gurus have worked
so hard to obfuscate over the last six years suddenly becomes lucid and, if not
sensible, at least explainable.
Of course, the majority of the book is the original classic,
where Mr. Siegel displays considerable acumen and gobs of statistics and applies
them to markets and investments. Although this is my first time reading this
book, I’ve had some exposure over the years to Mr. Siegel’s writing in economic
magazines and newspapers. He is always one of the most lucid financial pundits
around, a skill that was obviously honed in the writing (and rewriting) of this
book over the last two decades. He uses clear examples, easy to understand
graphs and tables, and an overall “no nonsense” tone that keeps the book light
but “sturdy”. And instead of telling potential investors what they should do,
he tells you what to expect when it comes to markets, individual stocks, and
particular sectors, how to recognize what they are doing, and what you might
want to consider doing to take advantage of that. If none of that suits you,
all you have to do is skip to the next chapter, where he will give you
different insight into a different investment aspect. Mr. Siegel covers
everything stocks, so someone looking for detailed information can read
individual sections to their taste, while someone looking for a thorough
overview can just go through the book, cover to cover.
This is one of the best books ever written on investing in
stocks, a book that other pros, authors, and analysts keep on their shelf for a
ready reference. If you’re serious about investing in stocks, you need to keep
a copy of this five dollar-sign book on your shelf as well.
