As the title of the book suggests, ETFs are going to be an increasingly important reality for a broad class of investors in coming years. This book offers the reader real understanding of this growing force in our economic lives. ETFs for the Long Run is a fascinating read. A seasoned financial industry journalist, Lawrence Carrel does an excellent job of highlighting exchange traded funds' meteoric rise in popularity over the last few years. A terrific book for anyone looking to grasp the ABCs of ETF investing.

ETFs for the Long Run provides a unique combination of a detailed history of the development of ETFs, a clear explanation of the sophisticated mechanics of ETFs, an assessment of investors' choices amongst this dynamic product area, and unbiased recommendations for appropriate portfolio allocation to these efficient investment tools.

Lawrence Carrel has done investors and the industry a great service in pulling these four elements together in a highly readable and often entertaining book. Page by page, Carrel takes you through the ins and outs of ETFs, including their history, the tax benefits and minimal charges associated with them, and the fundamental differences between ETFs and other types of investments. He also provides you with the resources and tools needed to trade ETFs and build your own ETF portfolio.

Over the past few years, exchange-traded funds (ETFs) have gained wider recognition among retail investors and become a staple in the portfolios of many individuals. In addition to its flexibility and transparency, the ETF's ability to track asset classes besides stocks and bondsâsuch as commodities and currenciesâhas allowed investors to own a liquid, diversified portfolio for a minimal investment.

Respected ETF expert and journalist Lawrence Carrel knows how effective this financial product can be, and now, with ETFs for the Long Run, he'll show what they are and how they workâas well as outline simple strategies you can use to incorporate them into your investment endeavors.

The journey begins with a brief history of ETFs, who the industry leaders are, and how they got there. After this introduction, you'll become familiar with the fundamental differences between ETFs and other types of investments, such as mutual funds. You'll also discover the advantages that an ETF's indexing structure has over an actively managed product.

With this information in hand, you'll be prepared to delve into the nuts and bolts of the ETF and see why it's one of the most efficient ways to gain exposure to today's market. Page by page, Carrel skillfully examines the unparalleled benefits associated with ETFs, explores new exchange-traded vehicles (ETVs)âwhich are very similar to ETFsâand addresses innovations within this area that have created more diverse opportunities for today's individual investor. Along the way, Carrel also reminds us that while a fund's returns can't be known ahead of time, its costs canâso focusing on cutting those costs can save you thousands of dollars down the road.

Rounding out this detailed discussion of ETFs are two chapters dedicated to building your own ETF portfolio, touching on everything from the mechanics of trading to designing asset allocation strategies. Here, Carrel calls upon a select group of financial professionals to help you understand a wide variety of portfolio construction possibilities and implement the ones that best suit your investment style.

The basic challenge that every investor faces is creating a broadly diversified portfolio for the least amount of money. ETFs can help you achieve this goal, and ETFs for the Long Run will show you exactly how.

You may have heard about ETFs while researching other investments or speaking with an investment advisor. If you want to learn more about them, this book will provide you with a clear understanding of what ETFs are, how they work, and how they can be used to create a low-cost, liquid, and diversified portfolio.

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