I've liked other stuff by William Bernstein. His book "The Birth of Plenty" is excellent. I haven't read the pamphlet mentioned in the article, but I just downloaded it.
I'll be interested to see what his advice is to younger people now. At least in the past, he was not quite the typical scold. I always liked this quote:
'An optimist might cite this as an example of the "magic of compound interest." Too much is made of this phenomenon. A pessimist would note that our industrious saver died an old man without enjoying his fortune; had he consumed even a few percent of it each year his estate would have been vastly smaller. Personally, I’d rather be a 26 year old roaming the boulevards of Paris with a few francs in my pocket than a rich old man. Everyone cannot be rich, but perhaps their grandchildren can.' (from: http://www.efficientfrontier.com/BOOK/chapter2.htm)
If you haven't read it already, I highly recommend The Four Pillars of Investing by Bernstein. Goes into a bit more depth than his newer books, but it's still very readable.
I'll be interested to see what his advice is to younger people now. At least in the past, he was not quite the typical scold. I always liked this quote:
'An optimist might cite this as an example of the "magic of compound interest." Too much is made of this phenomenon. A pessimist would note that our industrious saver died an old man without enjoying his fortune; had he consumed even a few percent of it each year his estate would have been vastly smaller. Personally, I’d rather be a 26 year old roaming the boulevards of Paris with a few francs in my pocket than a rich old man. Everyone cannot be rich, but perhaps their grandchildren can.' (from: http://www.efficientfrontier.com/BOOK/chapter2.htm)