Malekil’s classic work contains investment portfolio-building strategies proven over time and supported by scientific research. Drawing on his extensive experience as an economist, financial consultant, and successful investor, Malekil explains why an individual investor who buys and holds inexpensive, globally diversified index funds for a long time is very likely to outperform portfolios carefully put together by professionals using complex analytical methods. In the revised edition, the author included a new section dedicated to the recent cryptocurrency bubble, as well as extremely valuable materials on tax optimization. He also offers a critical analysis of two investment methods that have recently gained popularity—factor investing and risk parity. For a wide range of readers.