Digital wealth : an automatic way to invest successfully

Intro -- Title page -- Copyright -- Dedication -- Preface -- Note -- Acknowledgments -- Chapter 1 America's Savings Challenge -- We Don't Save Enough -- The Key Change in America's Retirement Planning Process -- How Financial Innovation Helps -- The Magic of a 15 Percent Savings Rate -- Notes -- Chapter 2 The Risk of Not Investing in Stocks -- The Short-Term Risks -- The Historical Perspective -- The Logic -- Chapter 3 The Enemies of a Stock Portfolio -- Why Inflation Matters -- Treasury Inflation-Protected Securities (TIPS) -- Asset Confiscation -- Recession -- Chapter 4 The Value of Time for Investors -- Why Long-Term Stock Investing Is Less Risky than It May Seem -- The Long-Term Picture -- How Bonds Can Help -- Note -- Chapter 5 Core Assets of a Robust Portfolio -- Asset Classes We Include -- Individual Asset Classes We Exclude -- Notes -- Chapter 6 Dynamic Asset Selection: Determining the Lowest-Cost Option for Each Portfolio -- Chapter 7 What Software Does Better than People -- How Software Helps Investors -- Example: All the Decisions an Algorithm Makes -- Chapter 8 How International Investing Can Smooth Returns -- Demographics Matter -- Diversification Improves Your Industry Mix -- Notes -- Chapter 9 The Advantages of Exchange-Traded Funds -- The Benefits of ETFs -- In-Kind Transfers -- The Risks of ETFs -- Securities Lending Policies -- Notes -- Chapter 10 The Triumph of Low-Cost Investing: How Paying Less Gets You More -- Fooled by Randomness -- A Triumph of Marketing over Results -- Notes -- Chapter 11 Learning from Nobel Prize Winners -- Milton Friedman, 1976 -- James Tobin, 1981 -- Harry Markowitz, 1990 -- William Sharpe, 1990 -- Daniel Kahnemann, 2002 -- Eugene Fama and Robert Shiller, 2013 -- Chapter 12 The Costs of Being Active -- The Cost of Closet Indexing -- The Other Costs of Active Management -- Notes.