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The financial services industry has a dark secret, one that costs global investors about $2.5 trillion per year (about 10% of the $25 trillion global equity market). This secret quietly drains the investment portfolios and retirement accounts of almost every investor. In 1900 French mathematician, Louis Bachelier, unsuspectingly revealed this disturbing fact to the world. Since then, hundreds of academic studies have supported Bachelier's findings. Unfortunately, investors pay little attention to academics and Nobel laureates. The dark secret is that managers don't beat markets. The fact is, markets outperform managers by a substantial margin over long periods of time. This book offers overwhelming proof of this, and shows investors how to obtain their optimal rate of return by matching their risk capacity to an appropriate risk exposure. A globally diversified portfolio of index funds is the optimal way to accomplish this. Index Funds: The 12-Step Program for Active Investors is the treatment of choice for wayward investors. Most investors continue to embrace an active investing strategy, despite the extensive academic research demonstrating its futility. Speculating on the next winning stock, fund manager, investment style or market timing are all akin to gambling. Below market returns in investment portfolios and pension accounts are the result of investors gambling with their hard earned money. This 12-Step Program will put active investors on the road to recovery. Each step is designed to bring investors closer to embracing a prudent and sound strategy of buying, holding, and rebalancing an index portfolio.
About the Author
Mark T. Hebner is the president of Index Funds Advisors in Irvine, California. His flagship Web site, ifa.com, is considered the leading Internet source of information on index funds. Hebner has been founder, president and CEO of three companies, one of which became a publicly held corporation. Hebner, a successful businessman, has spent the past six years developing this book and its companion Web site, ifa.com. Like many other investors, his conversion to the index funds investment philosophy began when he came to the realization that his own investment portfolio was not performing anywhere near the market averages. As he sees it, his own active investing strategy cost Hebner a whopping $30 million. Since his discovery, he has worked tirelessly to educate the investing public on the advantages of investing in index funds. He led a team of over 60 writers, artists, graphic designers, mathematicians, statisticians, and researchers to build the Internet's most comprehensive Web site on index funds. They then turned their attention to creating this book. It is the most colorful and graphically pleasing book ever written on this often dry subject. Forty-four original oil paintings, created by Lala Ragimov, fifty original water color portraits by Aftab Alam, and more than 250 color graphics by Jackson Lin present nearly 80 years of current and historic stock market data. This book is the culmination of hundreds of years of academic research, and with it Hebner hopes to cure the investing public of their active investing behaviors. Because of the beautiful art work and creative graphics it is destined to become the first coffee table book on investing.
Mark T. Hebner
Author of Index Funds: The 12-Step Program for Active Investors President of Index Funds Advisors, Inc.
"...an incredibly handsome and wise book. We must be near a "tipping point" of passive over active. Perhaps your book will mark the moment. Congratulations!"
- John C. Bogle, Founder and Past CEO of The Vanguard Group
Excellent Investing Book
The author takes complex topics and makes them easy to understand ... with an intent of saving others from the mistakes he had made as an active investor -- trading stocks, investing in a variety of mutual funds, etc. Instead the book lays out the many benefits of index investing and provides a framework for someone to begin doing so through the highly regarded passive/index investment firm Dimensional Fund. This is the only investing book I've ever been able to read and enjoy every page. T. Stone
A FAB-U-LOUS GEM for TOMORROWS MILLIONAIRES!
I love surfing the web. You go looking for one thing, and you "accidentally" run across a fab-u-lous gem that's so good it makes you forget what you were looking for. That happened when I first stumbled across Mark Hubner's "12-Step Program to Index Funds: Active Investors Anonymous," a unique Program created as an investment education program. It really works! Mark is founder of Index Fund Advisors, a fee-based financial adviser that uses low-cost no-load mutual funds. One of the great things about Mark's team is that they work with portfolios as small as $25,000. Most advisers won't touch anything less than $100,000 or even $250,000. They care. Mark's program is perfect for any investor who wants to retire a millionaire. Check out IFA's website first. Then get this book in your reference library, keep it handy, and follow "The Program," it's a perfect roadmap to a million dollar retirement. Paul B. Farrell, JD, PhD, personal finance columnist, [...], and author of The Winning Portfolio, The Millionaire Code, and The Lazy Person's Guide to Investing. Paul B. Farrell (CBS MarketWatch)
An Investment Book I Couldn't Put Down!
I spent a weekend reading this book cover to cover and I couldn't be more pleased. This book eloquently summarized my four years of Masters coursework, not to mention decades of academic research, in a style that is compelling and easy to grasp. Reading this book will help you understand why a globally-diversified, risk-capacity-matched, small-value-tilted, low-cost, taxefficient index portfolio is the only smart way to invest. You will understand exactly why stock pickers, mutual fund managers, and market timers mathematically cannot beat the market over 10 or 20 year periods... while the very few that do are the result of chance, despite their claims to the contrary. D. Rankin
THE "text book" on Index Investing
Mark Hebner's Index Investing book is the most thorough, and easily readable book I have found on this subject. Ideas are presented in short paragraphs, and supported with lots of visually attractive graphs, charts and pictures. The suggested porfolio weightings for various risk profiles are extremely useful. The author's comments on behavioral finance had me jumping up and down saying, "yes finally someone understands how difficult it is for me to try to get my investment decisions RIGHT!" Do yourself a favor - Invest $60 in this book, follow the index investment strategies outlined in the book, relax and prosper! And know you will beat 90 % of money managers in the USA with this strategy. An excellent investment in an excellent resource. J. Mitchell
If you are like me, you have spent far too much time and money learning the ugly truth about investing. Nobody can consistently over time beat the market. Nobody. This book is about a revolutionary idea and an obvious one: Invest with the market and win with the market. This does not mean that "one size fits all," that there is just one strategy everyone should use. In fact, the author puts forward 20 separate portfolio strategies, each with a "play with the market" approach. Each with its own risk/return specifics. Each one a winner over the past 35 years. This attractive book is literally worth it's weight in gold. Actually, it's worth well more than that. S. Wolgemuth
From a reformed pusher
Having worked in the financial services industry for over 20 years, I have known about our "dark secret" for a while. Over the years I have provided thousands of "addicts" with their fixes, thinking if I don't, someone else will. Now, having come out of the closet of "smoke and mirrors", I can only hope that a book like Mark Hebner's 12 Steps gets a huge following among all types of investors. It wouldn't hurt many of my colleagues in the industry to read it too. Who knows, our profession might even get back some of the respect which we have succeeded in loosing totally. I am finally able to meet my clients with a straight face. Petri R.
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