The Intelligent Asset Allocator

Have been reading The Intelligent Asset Allocator . An awesome book by William Bernstein which uses lots of math to explain some of the concepts of investing. The addition to gaining lots of finance knowledge I have brushed up lots of the concepts pertianing to probability and statistics. This is the first time I could clearly understand the practical applications for different distribution functions, correlation, covariance, Bayes theorm etc.

I have come to the realization that Index funds are the best investment vehicle for passive investors (like me) rather than actively managed funds (which have high maintainance fees). This book mathematical explains the difference.