The Little Book that Still Saves Your Assets: What The Rich Continue to Do to Stay Wealthy in Up and Down Markets

Praise for 1st Edition of The Little Book That Still Saves Your Assets "Darst delivers his wisdom like fine champagne: full of sparkle and so good you hate to finish it. All investors have much to gain from his sparkling advice." —Peter L. Bernstein , author of Capital Ideas , Against the Gods , The Power of Gold , and Capital Ideas Evolving "Asset allocation is an art, David Darst is the master. This entertaining and readable little book enables individual investors to do what the pros do— build and save their assets!" —Consuelo Mack , Anchor and Managing Editor, Consuelo Mack WealthTrack on PBS "David Darst is a walking encyclopedia of investment information. This book is an invaluable source and reference." —Barton Biggs , author of Hedgehogging , Wealth, War and Wisdom , A Hedge Fund Tale of Reach and Grasp , and Diary of a Hedgehog: Biggs' Final Words on the Markets "David Darst has produced another winner! This book is a must-read for any investor who is serious about seeking the best risk-adjusted return on a portfolio." —Samuel L. Hayes , Jacob H. Schiff Professor of Investment Banking, Emeritus, Harvard Business School "With his decades of experience, Darst entertainingly debunks the mysteries of investing—helping you grow the value of your assets while achieving peace of mind in the process." —Byron Wien , Vice Chairman, Blackstone Advisory Partners LP

Foreword xiii Introduction xix Chapter One What Happened?? What Happened!! 1 Chapter Two We All Do It (Even if We Don’t Realize It) 15 Chapter Three Everyone Needs an Uncle Frank 33 Chapter Four Building Your House 39 Chapter Five Parts of the Whole—Combining Dreams into a Plan 55 Chapter Six Two Strategies to Win the Battle for Investment Survival 75 Chapter Seven Do You Know Where You Are Going? 91 Chapter Eight Mix, Don’t Match 105 Chapter Nine Our Minds, Our Selves 119 Chapter Ten The Jockey Matters as Much as the Horse 133 Chapter Eleven Riding Out Storms 149 Chapter Twelve Build Your House on These Rocks 161 Chapter Thirteen Count to Zen 175 Chapter Fourteen Seven Quick Ways to Ruin 185 Chapter Fifteen The Road Less Traveled That You Should Take Right Now 195 Who Are You? (Determining Your Investment Profile) 209 What Do You Think? (Determining Your Investment Outlook) 211 What Works for You? (Determining Your Investment Selection) 213 Don’t Take My Word for It 215 Acknowledgments 225

DAVID M. DARST is a Managing Director at Morgan Stanley. He serves as Chief Investment Strategist of the firm's Global Wealth Management Group and is the Chairman of the Asset Allocation Committee. Darst is also the founding president of the Morgan Stanley Investment Group. Prior to joining Morgan Stanley in 1996, he was with Goldman Sachs for over twenty years, where he served as a senior executive in the Equities Division. Darst is often quoted in the New York Times, Wall Street Journal, and Financial Times, among others. He is also a frequent guest on CNBC, Bloomberg, and Fox News. He earned his MBA from Harvard Business School and received a BA in economics from Yale University. Darst is a CFA charterholder.

“The Little Book That Still Saves Your Assets presents a necessary introduction to managing personal investments that would be beneficial to anyone in the financial services industry. . . Everyone who invests money now or ever intends to would benefit from Darst′s worthwhile introduction to the most fundamental principle of investing.”— ABA Banking Journal