The stock market represents everything that anybody has ever hoped, feared, hated, or loved. It is all of life. -Edward C. Johnson II Investor's Anthology Original Ideas from the Industry's Greatest Minds Every investor will benefit from the classics found in this volume. -Warren E. Buffett This book is must reading for anyone interested in investing. It contains everything one would expect in a great book - wisdom, insight, historical perspective, and wit. -Steven G. Einhorn, Partner Goldman, Sachs & Co. Ideas change the world and this book enables you to observe the key moments in investment thinking over the past 200 years. If having clear perspective improves investment performance, reading and understanding this book will help you make better decisions. -Byron R. Wien, Managing Director, U.S. Investment Strategist Morgan Stanley & Co., Inc. Now-at last-an opportunity for individual investors to sample the writing of the outstanding investors of our time, carefully crafted by Charley Ellis. -John B. Neff Managing Partner (retired) Wellington Management Company. From A-B-C (Hans Christian Andersen, Warren Buffett, Philip Carret) to Z (Arthur Zeikel) ...eternal wisdom about the financial markets, compiled by one of the most astute minds in the field. A 'must read' for the serious investor. -John C. Bogle, Chairman The Vanguard Group Reach into this jewel box of an anthology and you will come up with gems of wit, wisdom, and analysis that reflect a unique combination of experience and insight -the essential elements that investing, like life itself, requires. The Investor's Anthology offers penetrating thoughts by the greatest players in the history of investing. Discover firsthand what the experts have to say about the most important ideas, issues, and trends in the investment business. In what may feel like a series of personal audiences, Warren Buffett, Barton Biggs, Benjamin Graham, John Templeton, T. Rowe Price, and dozens of others share the experiences of lifetimes in the market. Listen as these legends talk about the investments that made their reputations: Marty Leibowitz on bond portfolios, Phil Fisher analyzing stocks, and T. Rowe Price revealing the secrets of his phenomenal success in mutual funds. And much more. This rich collection offers not only valuable, straight-ahead investment advice, but also a chance to see the whole world of investment from an extraordinary variety of perspectives. You will hear stories of stunning victories and devastating defeats, of self-deception and popular delusions, of humble wise men and arrogant fools. You will learn the personal rules the great players follow, and, of course, discover the mistakes they'll never make again. Among the engaging pieces this anthology offers: Sidney Homer traces the development of credit from ancient Babylonia to the present in the eye-opening An Informal History of Interest Rates; Arthur Zeikel poses the haunting question, Why are so many of us wrong so much of the time? in his probing essay On the Threat of Change; the estimable Warren Buffett contributes an introspective, illuminating piece, Mistakes of the First Twenty-Five Years; Barton Biggs delivers nuggets of useful advice in Investment Strategy; and David Babson personally lays to rest what many have long suspected in The Futility of Stock Market Guessing. There is pulse-pounding, you-are-there drama in Adam Smith's The Day They Red-Dogged Motorola and Frederick Lewis's classic account of The Big Bull Market and the Crash. And there is personal tragedy in Catastrophe, the wrenching story of the downfall and disgrace of Richard Whitney, once a pillar of Wall Street's Old Guard. Provocative, instructive, and always entertaining, The Investor's Anthology will prove irresistible to all who want to hear the greatest investors of all time speak their minds.