{"product_id":"digital-wealth-isbn-9781119118466","title":"Digital Wealth","description":"\u003cb\u003eLeverage algorithms to take your investment approach to the next level\u003c\/b\u003e \u003cp\u003e\u003ci\u003eDigital Wealth: An Automatic Way to Invest Successfully\u003c\/i\u003e reveals core investment strategies that you can leverage to build long-term wealth. More than a simple review of traditional investment strategies, this innovative text proffers digital investment techniques that are driven not by people but by algorithms. Supported by asset allocation research, the secrets shared in this forward-thinking book have underpinned cutting-edge investment firms as they integrate algorithm-based strategies. In addition to presenting key concepts, this groundbreaking resource explains how these concepts can give you an edge over the professionals on Wall Street through details regarding achieving financial security and meeting financial goals rooted in a firm foundation in behavioral finance, portfolio tilts, and modern portfolio theory.\u003c\/p\u003e \u003cp\u003eInvestment strategies have evolved from one generation to the next, and the ability to leverage new digital tools calls for another overhaul of traditional investment concepts. Investment techniques implemented by algorithm rather than by human monitoring can, in some cases, prove more successful. The key to a balanced portfolio is understanding what these algorithm-based strategies are, and how to best use them.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eExplore insights from multiple Nobel Prize winning academics that can give your investment strategy an edge\u003c\/li\u003e \u003cli\u003eConsider how technology can open up powerful techniques to mainstream investors, including tax-loss harvesting and automated rebalancing\u003c\/li\u003e \u003cli\u003eDiscuss how cost minimization and a strategic tax approach can boost your portfolio's compound growth\u003c\/li\u003e \u003cli\u003eIdentify strategies that support the long-term growth of your wealth\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eDigital Wealth: An Automatic Way to Invest Successfully\u003c\/i\u003e is an essential text for sophisticated individual investors and investment consultants alike who want to explore how digital tools can bolster financial success.\u003c\/p\u003e \u003cp\u003ePreface xiii\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 America’s Savings Challenge 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWe Don’t Save Enough 1\u003c\/p\u003e \u003cp\u003eThe Key Change in America’s Retirement Planning Process 3\u003c\/p\u003e \u003cp\u003eHow Financial Innovation Helps 4\u003c\/p\u003e \u003cp\u003eThe Magic of a 15 Percent Savings Rate 5\u003c\/p\u003e \u003cp\u003eNotes 8\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 The Risk of Not Investing in Stocks 9\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Short‐Term Risks 10\u003c\/p\u003e \u003cp\u003eThe Historical Perspective 10\u003c\/p\u003e \u003cp\u003eThe Logic 12\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 The Enemies of a Stock Portfolio 15\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Inflation Matters 16\u003c\/p\u003e \u003cp\u003eTreasury Inflation‐Protected Securities (TIPS) 17\u003c\/p\u003e \u003cp\u003eAsset Confiscation 18\u003c\/p\u003e \u003cp\u003eRecession 19\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 The Value of Time for Investors 21\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Long‐Term Stock Investing Is Less Risky than It May Seem 21\u003c\/p\u003e \u003cp\u003eThe Long‐Term Picture 22\u003c\/p\u003e \u003cp\u003eHow Bonds Can Help 24\u003c\/p\u003e \u003cp\u003eNote 27\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Core Assets of a Robust Portfolio 29\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAsset Classes We Include 29\u003c\/p\u003e \u003cp\u003eIndividual Asset Classes We Exclude 34\u003c\/p\u003e \u003cp\u003eNotes 39\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Dynamic Asset Selection \u003cbr\u003e\u003cbr\u003e\u003c\/b\u003eDetermining the Lowest‐Cost Option for Each Portfolio 41\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 What Software Does Better than People 47\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Software Helps Investors 49\u003c\/p\u003e \u003cp\u003eExample: All the Decisions an Algorithm Makes 50\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 How International Investing Can Smooth Returns 53\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eDemographics Matter 54\u003c\/p\u003e \u003cp\u003eDiversification Improves Your Industry Mix 56\u003c\/p\u003e \u003cp\u003eNotes 58\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 The Advantages of Exchange\u003c\/b\u003e\u003cb\u003e‐\u003c\/b\u003e\u003cb\u003eTraded Funds 59\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Benefits of ETFs 61\u003c\/p\u003e \u003cp\u003eIn‐Kind Transfers 62\u003c\/p\u003e \u003cp\u003eThe Risks of ETFs 63\u003c\/p\u003e \u003cp\u003eSecurities Lending Policies 65\u003c\/p\u003e \u003cp\u003eNotes 67\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 The Triumph of Low\u003c\/b\u003e\u003cb\u003e‐\u003c\/b\u003e\u003cb\u003eCost Investing How Paying Less Gets You More 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eFooled by Randomness 70\u003c\/p\u003e \u003cp\u003eA Triumph of Marketing over Results 72\u003c\/p\u003e \u003cp\u003eNotes 76\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Learning from Nobel Prize Winners 79\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMilton Friedman, 1976 80\u003c\/p\u003e \u003cp\u003eJames Tobin, 1981 81\u003c\/p\u003e \u003cp\u003eHarry Markowitz, 1990 81\u003c\/p\u003e \u003cp\u003eWilliam Sharpe, 1990 82\u003c\/p\u003e \u003cp\u003eDaniel Kahnemann, 2002 83\u003c\/p\u003e \u003cp\u003eEugene Fama and Robert Shiller, 2013 83\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 The Costs of Being Active 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Cost of Closet Indexing 87\u003c\/p\u003e \u003cp\u003eThe Other Costs of Active Management 88\u003c\/p\u003e \u003cp\u003eNotes 90\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 The Greatest Mistakes Made by Novice Investors 91\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStarting Saving Too Late 92\u003c\/p\u003e \u003cp\u003eAre You Using Tax Shelters Effectively? 93\u003c\/p\u003e \u003cp\u003eAre You Taking Advantage of 401(k) Matching If Available? 93\u003c\/p\u003e \u003cp\u003eAre You Diversified Internationally? 93\u003c\/p\u003e \u003cp\u003eAre You Chasing Returns? 94\u003c\/p\u003e \u003cp\u003eAre You Overpaying in Fees? 95\u003c\/p\u003e \u003cp\u003eAre You Tracking the Right Index? 95\u003c\/p\u003e \u003cp\u003eDo You Trade Too Much? 97\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Tilts and Other Ways to Help Long\u003c\/b\u003e\u003cb\u003e‐\u003c\/b\u003e\u003cb\u003eTerm Performance 99\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHistory of Market Thought 100\u003c\/p\u003e \u003cp\u003eData Mining 102\u003c\/p\u003e \u003cp\u003eDebunking Strong‐Form Market Efficiency 103\u003c\/p\u003e \u003cp\u003eRationality 103\u003c\/p\u003e \u003cp\u003eThe January Effect 104\u003c\/p\u003e \u003cp\u003eSell in May and Go Away 104\u003c\/p\u003e \u003cp\u003eMomentum 105\u003c\/p\u003e \u003cp\u003eValue 105\u003c\/p\u003e \u003cp\u003eSmall Cap 106\u003c\/p\u003e \u003cp\u003eQuality 106\u003c\/p\u003e \u003cp\u003eLonger‐Term Mean Reversion 107\u003c\/p\u003e \u003cp\u003eAssessing Tilts in a Portfolio Context 107\u003c\/p\u003e \u003cp\u003eNotes 108\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Establishing a Tax\u003c\/b\u003e\u003cb\u003e‐\u003c\/b\u003e\u003cb\u003eEfficient Portfolio 109\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTax Shelters 111\u003c\/p\u003e \u003cp\u003eTax Efficiency for Retirement 111\u003c\/p\u003e \u003cp\u003eTax Efficiency for College 112\u003c\/p\u003e \u003cp\u003eTax Efficiency for Giving 113\u003c\/p\u003e \u003cp\u003eTax‐Efficient Asset Placement 114\u003c\/p\u003e \u003cp\u003eTax Loss Harvesting 115\u003c\/p\u003e \u003cp\u003eOffsetting Gains with Losses 115\u003c\/p\u003e \u003cp\u003eThe Principal of Tax Deferral 116\u003c\/p\u003e \u003cp\u003eHow Tax Loss Harvesting Works 117\u003c\/p\u003e \u003cp\u003eChallenges of Implementing Tax Loss Harvesting 117\u003c\/p\u003e \u003cp\u003eConclusion 119\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 The Value of Rebalancing and Glidepaths 121\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eRebalancing Keeps a Portfolio on Course 122\u003c\/p\u003e \u003cp\u003eTiered Rebalancing 125\u003c\/p\u003e \u003cp\u003eGlidepaths 126\u003c\/p\u003e \u003cp\u003eNotes 129\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 How to Manage a Market Crash 131\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eKeep Stock Market Investing for Longer‐Term Money 133\u003c\/p\u003e \u003cp\u003eMaking Saving an Ongoing Activity 134\u003c\/p\u003e \u003cp\u003ePay Attention to Extremes of Long‐Term Valuation Signals 134\u003c\/p\u003e \u003cp\u003eDon’t Consider Stocks in Isolation 135\u003c\/p\u003e \u003cp\u003eRemember that You May Underestimate Your Risk Tolerance in Good Markets 136\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 Your Own Worst Enemy Is in the Mirror 139\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Biggest Threat to Your Returns Is in the Mirror 140\u003c\/p\u003e \u003cp\u003eAlways a Reason to Avoid Staying Out 141\u003c\/p\u003e \u003cp\u003eThe Returns You See Aren’t the Ones You Get after Tax 141\u003c\/p\u003e \u003cp\u003eThe Media Isn’t Your Friend 142\u003c\/p\u003e \u003cp\u003eOvertrading 142\u003c\/p\u003e \u003cp\u003eHome Bias 143\u003c\/p\u003e \u003cp\u003eFailing to Take a Long‐Term Perspective 143\u003c\/p\u003e \u003cp\u003eAvailability Bias 144\u003c\/p\u003e \u003cp\u003eChasing Performance 144\u003c\/p\u003e \u003cp\u003eIgnoring Fees 144\u003c\/p\u003e \u003cp\u003eHolding Too Much Cash 145\u003c\/p\u003e \u003cp\u003eHow Software Can Help 145\u003c\/p\u003e \u003cp\u003eNote 146\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19 Saving for Goals beyond Retirement 147\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTax Efficiency 148\u003c\/p\u003e \u003cp\u003ePortfolio Construction 149\u003c\/p\u003e \u003cp\u003eEmergency Funds 150\u003c\/p\u003e \u003cp\u003eInvestment Flow Chart 150\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20 A History of Diversified Portfolio Performance 153\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStocks vs. Bonds 153\u003c\/p\u003e \u003cp\u003eThe Impact of Recessions 154\u003c\/p\u003e \u003cp\u003eThe Impact of Inflation 155\u003c\/p\u003e \u003cp\u003eThe Danger of Averages 155\u003c\/p\u003e \u003cp\u003eThe Benefits of Combination 155\u003c\/p\u003e \u003cp\u003eAn Emerging Market that Has Emerged 156\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21 The Future of Wealth Management 157\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLower Costs 158\u003c\/p\u003e \u003cp\u003eDemocratization of Services 159\u003c\/p\u003e \u003cp\u003eIncreasing Customer Intimacy 160\u003c\/p\u003e \u003cp\u003eImproved Financial Awareness 160\u003c\/p\u003e \u003cp\u003eNote 161\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22 Conclusion 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAuthor’s Disclaimer 167\u003c\/p\u003e \u003cp\u003eAbout the Author 169\u003cbr\u003e\u003cbr\u003eIndex 171\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eSIMON MOORE\u003c\/b\u003e is Chief Investment Officer at FutureAdvisor, the award-winning digital asset manager. He has written about finance for \u003ci\u003eForbes\u003c\/i\u003e, \u003ci\u003eHuffington Post\u003c\/i\u003e, and \u003ci\u003eYahoo! Finance\u003c\/i\u003e, and is quoted regularly by such major media outlets as CNN and the \u003ci\u003eWall Street Journal\u003c\/i\u003e.  \u003c\/p\u003e\u003cp\u003eIf you're serious about growing your wealth, you have probably tried traditional financial advisors, who charge a lot for underwhelming returns, as well as building your own portfolio, which is endlessly time consuming and laborious. \u003ci\u003eDigital Wealth \u003c\/i\u003epresents the turnkey, low-cost solution for growing your assets with algorithmic accuracy executed at the speed of today's sophisticated digital processors.\u003c\/p\u003e \u003cp\u003eAward-winning investment researcher Simon Moore shows you that the secret to growing wealth for the long term comes down to reliable theory, accessing powerful portfolio strategies now available to individual investors, and being smart about your tax obligations. Step by step, he walks you through a revolutionary, simple approach to personal wealth management supported by unprecedented asset-allocation research and automated by powerful algorithms that keep your investment strategy on track with digital precision. \u003c\/p\u003e\u003cp\u003eWhether you're new to investing or want to take your financial security to the next level with up-to-date tools, this insightful guide presents inspiring, actionable guidance for blending the theory of Nobel Prize-winning economists with the most sophisticated techniques available to investors. By adapting this investing approach, you can develop a portfolio that: \u003c\/p\u003e\u003cul\u003e\n\u003cli\u003eIs fully customized to your specific investment goals and time horizon, whether you're saving for retirement, higher education, a first home, or an emergency fund\u003c\/li\u003e \u003cli\u003eUses automated, threshold-based rebalancing to adapt to market drifts, which is more efficient and safeguards investors against losing money by trading on emotion\u003c\/li\u003e \u003cli\u003eIncludes funds best suited for its size based on cost and benefit picked by cutting-edge algorithms capable of monitoring multiple constraints\u003c\/li\u003e \u003cli\u003eMaximizes tax benefits by identifying the proper asset placement and using tax-loss harvesting to improve post-tax returns\u003c\/li\u003e\n\u003c\/ul\u003e \u003cp\u003e\u003ci\u003eDigital Wealth\u003c\/i\u003e is your entrance into a new world of wealth management that enables investors to trade independently, without high fees and commissions, using professional analytics and automation.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003eDigital Wealth\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eIf you're serious about growing your wealth, you have probably tried traditional financial advisors, who charge a lot for underwhelming returns, as well as building your own portfolio, which is endlessly time consuming and laborious. \u003ci\u003eDigital Wealth\u003c\/i\u003e presents the turnkey, low-cost solution for growing your assets with algorithmic accuracy executed at the speed of today's sophisticated digital processors. \u003c\/p\u003e\u003cp\u003eAward-winning investment researcher Simon Moore shows you that the secret to growing wealth for the long term comes down to reliable theory, accessing powerful portfolio strategies now available to individual investors, and being smart about your tax obligations. Step by step, he walks you through a revolutionary, simple approach to personal wealth management supported by unprecedented asset-allocation research and automated by powerful algorithms that keep your investment strategy on track with digital precision. \u003c\/p\u003e\u003cp\u003eWhether you're new to investing or want to take your financial security to the next level with up-to-date tools, this insightful guide presents inspiring, actionable guidance for blending the theory of Nobel Prize-winning economists with the most sophisticated techniques available to investors. By adapting this investing approach, you can develop a portfolio that: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eIs fully customized to your specific investment goals and time horizon, whether you're saving for retirement, higher education, a first home, or an emergency fund\u003c\/li\u003e \u003cli\u003eUses automated, threshold-based rebalancing to adapt to market drifts, which is more efficient and safeguards investors against losing money by trading on emotion\u003c\/li\u003e \u003cli\u003eIncludes funds best suited for its size based on cost and benefit picked by cutting-edge algorithms capable of monitoring multiple constraints\u003c\/li\u003e \u003cli\u003eMaximizes tax benefits by identifying the proper asset placement and using tax-loss harvesting to improve post-tax returns\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003e\u003ci\u003eDigital Wealth\u003c\/i\u003e is your entrance into a new world of wealth management that enables investors to trade independently, without high fees and commissions, using professional analytics and automation.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989070430437,"sku":"NP9781119118466","price":34.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781119118466.jpg?v=1761782672","url":"https:\/\/k12savings.com\/products\/digital-wealth-isbn-9781119118466","provider":"K12savings","version":"1.0","type":"link"}