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How high can it go?

That's what investors have been asking about the stock market.

Although it gave back a little Friday, last week the Dow Jones industrial average hit a record closing high and an all-time intraday high for three days in a row. The reasons for the rally: A drop in oil prices and the belief that the Federal Reserve will continue to hold off on raising rates, at least for the near term.

So what now? How long can the upward trend continue? Should I cash out now or strap in for a long stock roller coaster ride?

Unfortunately, there's no one -- or magic -- answer. That's why you've got to do your research and develop an investing strategy that fits your financial circumstances and needs.

But where to start? There's so much information out there, from advisers to talking heads on TV to magazines to books.

And, of course, there are the financial blogs.

boglehead_bookBogleheads' Book Project: Well, a group of us in the blogosphere who write regularly about personal finances are among those trying to help.

Last week, as the market was soaring (what good timing!) we began a collaborative review of "The Bogleheads' Guide to Investing."

Bogleheads are folks who admire John Bogle, founder of the Vanguard mutual fund company, and who wrote the book to share their accumulated knowledge.

We personal finance bloggers will tell you what we think of the Bogleheads' effort with a review of one chapter from the book each week day through October. You can find more on our effort in the Reading Room area of Don't Mess With Taxes (over in the right hand column; see Nov. 1 update below).

Our first week as book and investment strategy critics ended with Mighty Bargain Hunter's look at Chapter 5, Preserve Your Purchasing Power With Inflation-Protected Bonds. If you missed the reviews of chapters 1 through 4, check out this this page at All Financial Matters, where project coordinator JLP keeps a running list of posted reviews and coming attractions.

Enjoy. And here's to wise and worthwhile investing for us all.

Project Update, Nov. 1, 2006: Below is the announcement of the project that appeared on Don't Mess With Taxes' home page while the review project was in progress (and a few weeks afterwards, too).

Bogleheads' Book Project: Who are the Bogleheads? Folks who admire John Bogle, founder of the Vanguard mutual fund company. They decided to share their Bogle-influenced investment knowledge via "The Bogleheads' Guide to Investing."

Just how good of a job did the Bogleheads do? Find out from me and some of my fellow personal finance bloggers. During October, we reviewed the book, with an assessment of each of the chapters going up on our individual blogs every week day.

I was privileged to do double duty on Oct. 13, reviewing the Bogleheads' look at investment taxes in Chapter 10, Taxes, Part One: Mutual Fund Taxation, and Chapter 11, Taxes, Part Two: Managing Your Portfolio for Maximum Tax Efficiency.

JLP at All Financial Matters coordinated the project and has posted a page with links to all of the reviews. If you missed any of them (22 in all), or just want to re-read a couple, head on over to JLP's page and check them out.

Each reviewer offered insightful analysis of the Bogleheads' book and methods, as well as served up some useful tax, money management and investment tips of their own.

And if you want more info on the book itself, or to buy it, you can click on its picture below. Thanks for reading!


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