This is the second edition of The Coffeehouse Investor. I had really liked the first edition and I dug this up to see what has changed.

This book is all about three lifelong principles:
1. Don't put all your eggs in one basket - Diversify your assets to maximize the chances of reaching your financial goals with minimum risk. (Asset Allocation)
2. There is no such thing as free lunch - Markets are efficient. If you find an investment with better returns, it comes with more risk. (Approximate market averages - indexing)
3. Save for rainy day - It's important to save more than rely on unusual investment returns.

The author stresses the importance of these principles and then advises you to ignore the Wall Street and get on with your life!

Trivia:

• The coffeehouse Portfolio is part of Lazy portfolios and has been handily "beating the markets" (along with 90% of the mutual funds)
• Link to Bill's blog