Books on investing

TheTracker

Men Faber's Global Asset Allocation was published last week. It's only £2 on kindle, a slim volume that was slim enough for me to read on the way to work this morning. It is US centric but readable enough to a UK investor. He reviews a dozen or so common portfolios (Permanant, Ivy League, etc) and comes to the conclusion that
- the actual allocation doesn't matter that much, provided you are diversified. Following any of them is a good start.
- 60/40 is still a good place to start, particularly a global portfolio with reduced home bias.
- fees matter. A lot. He shows how fees tend to moderate the leading portfolios to the extent they converge.

An interesting enough read for the commute - particularly as one Faber fan on this forum repeatedly disses the effect of fees and the utility of 60/40. Although he has published books on Value Strategy before, value only gets a sidelong glance as a useful portfolio tilt.

Lots of charts too.