... Page
Copyright
Dedication
PROLOGUE
The Habit Cure
PART ONE
The Habits of Individuals
1. THEHABIT LOOP
How Habits Work
2. THE CRAVING BRAIN
How to Create New Habits
3. THE GOLDEN RULE OFHABIT CHANGE
Why Transformation ... befuddled by the
fact that someone could change the television channel by pointing a black
notes and http://www.thepowerofhabit.com.) It focuses on habits as they
are technically defined: the choices ... Occurs
PART TWO
The Habits of Successful Organizations
4. KEYSTONE HABITS, OR THE BALLAD OF PAUL O’NEILL
Which Habits Matter Most
5. STARBUCKS AND THEHABITOF SUCCESS
When Willpower Becomes Automatic
...
... across to the camp. The
singing for five or ten minutes, chanting
the multiplication tables, the names of the
states, the largest cities ofthe country, or
even the Books ofthe Bible. At other
times ... in the old sitting-room, they were
so illumined by great hopes ahead.
Thomas and I, at a light-stand apart from
the others, were usually puzzling out a
Fable The Lion, The Oxen, The Kid and
the ... lead—were beset
by an ambition to start ice-houses. None
of them had either experience or tools.
They wanted us to cut the ice for them.
We thought that was asking rather too
much. Thereupon fourteen...
... changes in the
ore that have rendered further work
unremunerative.
THE BUSINESS
OF MINING
A BRIEF, NON-
TECHNICAL EXPOSITION
OF THE PRINCIPLES
INVOLVED IN THE
PROFITABLE OPERATION
OF MINES
BY
Consolidated ... is a gold placer, one
may see the recovery ofthe metallic
values. Here, the usage ofthe majority of
practical mining men will uphold us in
always speaking ofthe work as mining.
In its original ... ancient
knowledge of welding which is the envy
of our modern iron workers. If we accept
the Hebrew Scriptures, we must believe
that mining was carried on in the time of
number of years and which, of late,...
... citizens of Cork—and, to do them
justice, a harder drinking set of gentlemen no city need boast; then
we were feasted bythe corporation; then bythe sheriffs; then came
the mayor, solus; then ... vanity, I was fond of parading. It
was a present from the officers of my regiment—many of them, alas,
since dead—and had a most splendid gold head, with a stag at the
top the arms ofthe regiment. ... forty years of age; their beauty not a whit improved bythe
red glare thrown upon their faces and along the whole line by each
flash ofthe long twenty-fours that were playing away to the right....
... have the worst possible timing, investing at
the peak ofthe stock market each year. Another investor
starts later but is the world ’ s luckiest investor, buying at
the absolute bottom ofthe ... Scott Adams, the creator ofthe
Dilbert comic strip, calls credit cards “ the crack cocaine of
the fi nancial world. They start out as a no - fee way to get
instant gratifi cation, but the next ... sentences.
Another reason for saving is quite positive: Most of us
enjoy the extra comfort and the feeling of accomplishment
that comes with both the process of saving and with the
results...
... they center their thinking on enjoying the
benefi ts of achieving their goals, most savers and most
slim people take pleasure in the process of saving and
the process of keeping trim. They do not ... think in terms
of deprivation; they think in terms of making good
progress toward achieving their goal. As they make
progress toward their goal, they have the fun and satis-
faction of achievement. ... and tall. They were constructed that way to mini-
mize property taxes, which were based on the width of
a house. Consider another architectural example, the
invention ofthe mansard roof in France....
...
broadly diversifi ed bond fund.
The U.S. Treasury issues large amounts of bonds. These
issues are considered the safest of all and these bonds are
the one type of security where diversifi cation ... at the end of
the period. While a total of exactly $ 5,000 is invested
in both cases, the investor in the volatile market ends
up with $ 6,048 — a nice return of $ 1,048 — even though
the ...
averaging because the strategy is not optimal if the mar-
ket does go straight up. (You would have been better
off putting all $ 5,000 into the market at the beginning
of the period.) But it...
... something. And
then do something else. The more you do, the merrier
he will be.
Mr. Market is expensive and the cost of transac-
tions is the small part ofthe total cost. The large part of
the total ... dur-
ing the fourth quarter of 1999 and the fi rst quarter of
2000 — just at the top ofthe market — than ever before.
And most ofthe money that went into the market
was directed to the high ...
funds — the stocks that turned out to be the most
overpriced and then declined the most during the
subsequent bear market. And more money went out
of the market during the third quarter of 2002...
... the market
sometimes makes mistakes — often egregious
ones such as the overvaluation of high - tech and
Internet stocks at the turn ofthe century. But
many ofthe pundits who predicted the ... insured, they often have higher
rates and they give you the advantage offree
checking (for bills of $ 250 or more). These
money - market funds typically buy very
large CDs from banks or they ...
around. The overarching principle is that the
more you pay the provider ofthe fi nancial
service, the less there will be for you.
5. Diversifi cation reduces anxiety.
Diversifi cation reduces the...
... Moreover,
these plans allow the earnings and gains from these
savings plans to compound over time tax free. Here
we describe the details of these tax-advantaged plans.
This section is, by necessity, ... PM
128
*
These are the rules as of 2009; the dollar limits may well be raised in
subsequent years.
wish. Just make sure you are taking full advantage of at
least one of these plans. They not ... 1:33:40 PM
122
The Elements of Investing
now available that track total stock market indexes in the
United States and in the world.
The table on the opposite page shows the menu of ETFs
that...
... member ofthe President ’ s
Council of Economic Advisers, Dean ofthe Yale School
of Management, Chair of Princeton ’ s Economics Depart-
ment, and as a director of major corporations.
CHARLES ... author of A Random Walk Down Wall Street
Bestselling author of Winning the Loser’s Game
THE
ELEMENTS
OF
INVESTING
M
M
A
A
LKI
E
E
L
L
E
E
LLI
S
S
THE ELEMENTS OF INVESTING
In his classic book The ... 2:07:26 PM
143
ABOUT THE AUTHORS
BURTON G. MALKIEL
Burton G. Malkiel is the Chemical Bank Chairman ’ s
Professor of Economics at Princeton University and the
author ofthe bestselling, A...
... reflect upon them. These operations
constitute what are called the Judicial
Processes ofthe Mind.
The Judicial Processes ofthe Mind are of
two kinds, so that, in the last analysis,
there are, ...
ENERGIZING
EMOTIONS
41
CROSS-ROADS OF
SUCCESS OR
FAILURE
42
THE LIFE OF
EFFORT
43
THE MOTIVE
POWER OF
PROGRESS
44
THE VALUE OF
AN IDEA
45
THE HARD WORK
REQUIRED TO
FAIL
46
CREATIVE POWER
intensity do ... taste and a certain softness of
touch, all arising from the same source,
then by a series of classifying judgments
you put all these different sensations
together, assign them to the same object,
and...