The Chief Investment Officer of Merrill Lynch Wealth Management explains why goals, not markets, should be the primary focus of your investment strategy—and offers a practical, innovative framework for making smarter choices about aligning your goals to your investment strategy.
Today all of us bear the burden of investing wisely, but too many of us are preoccupied with the wrong priorities—increasing returns at all costs, finding the next star fund manager, or beating “the market.” Unfortunately conventional portfolio theory and the grand debates in finance have offered investors only incomplete solutions. What is needed, argues Ashvin B. Chhabra, is a framework that shifts the focus of investment strategy from portfolios and markets to individuals and the objectives that really matter: things like protecting against unexpected financial crises, paying for education or retirement, and financing philanthropy and entrepreneurship.
The Aspirational Investor is a practical, innovative approach to managing wealth based on key goals and the careful allocation of risks rather than responding to the whims of the financial markets. Chhabra introduces his “Wealth Allocation Framework,” which accommodates the three seemingly incompatible objectives that must underpin every sound wealth management plan: the need for financial security in the face of known and unknowable risks; the need to maintain current living standards over time despite inflation; and the need to pursue aspirational goals for wealth creation.
Chhabra reveals some surprising facts about wealth creation, reinterprets the success formulas of investing greats like Warren Buffett, and closes the gap between theory and practice by simplifying our understanding of key asset classes and laying out a concise roadmap for identifying, prioritizing, and quantifying financial goals. Raising the bar for what we should expect from our investment portfolios—and our financial advisors—The Aspirational Investor sets us on a path to more confident and fulfilling financial lives.
Download and start listening now!
“Covers the risk-and-reward dynamic, the illusion of control, the aversion to loss, and the volatility of markets. Chhabra gives a good sense of how investments work and a sensible view of how to work toward goals ‘by organizing your financial life around what you hope to achieve.’”
“The Aspirational Investor is a most-readable popular presentation of investment theory and practice in general, as well as an account of Dr. Chhabra’s own influential contributions.”
— Harry M. Markowitz, Nobel laureate 1990, economics
“Chhabra (chief investment officer, Merrill Lynch Wealth Management) redefines personal investing from trying to beat the market to focusing first on personal objectives and then tailoring investments to fit…Clear, concise.”
— Library Journal
“In this valuable guide, Ashvin Chhabra teaches individuals how to focus on their key financial goals and shows them how to be better investors.”
— Burton G. Malkiel, author of A Random Walk Down Wall Street
The Aspirational Investor Listener Reviews
Be the first to write a review about this audiobook!
About Ashvin B. Chhabra
Ashvin B. Chhabra is the chief investment officer of Merrill Lynch Wealth Management. He has also served as the chief investment officer at the Institute for Advanced Study in Princeton, New Jersey. He holds a PhD in applied physics from Yale University and is a recognized leader in the fields of investment management, risk and asset allocation, and risk management. He lives in Princeton, New Jersey.
About Brett Barry
Brett Barry graduated from Syracuse University’s television, radio, and film program and worked as an associate documentary producer for several years before moving into a career in voiceovers. In 2002, he signed with a voice-over agent in New York and began working in this field full-time. Brett’s training includes improvisational acting at Manhattan’s HB Studio, study of the Linklater voice techniques, and private coaching with some of the industry’s top voice performers. His voice can be heard on over 100 audiobooks. He and his wife Rebecca live in New York and run Silver Hollow Audio, an independent audio production studio.