Publisher Description
Phil Town is now a very wealthy man, but he wasn’t always. In fact, he was living on a salary of $4000 a year when some well-timed advice launched him down a highway of investing self-education that revealed what the true “rules” are and how to make them work in one’s favor. Chief among them, of course, is “rule #1”: “don’t lose money.” Other rules are: don’t diversify…think like an owner, not an investor … never, ever be seduced into thinking the market is efficient. Town also believes strongly in “betting on the jockey,” putting your faith in managers who’ve proven their financial mettle. Not only does Town reveal fresh methods for identifying who the truly reliable managers are, but he shows you how to test whether they really have faith in the businesses they’re running. By far, the most controversial of the audiobook’s assertions will be that giant 401(k) type mutual funds can’t help but regress to the mean, and in the next twenty years, the mean could be very disappointing indeed. There’s a very real chance that a 401(k) investor could see his holdings not grow at all in the next few decades. Fortunately, Town’s stockpicking techniques are meant to walk investing phobes through the do-it-yourself process, equipping them with the tools they need to make quantum leaps toward financial security. Rule #1 says something new, and it says it in a way that every listener can understand.
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“I think Phil Town has a great strategy! Even a financial dummy like me could read his book and understand (most) of it! Problem is, it will take some dedicated time to experiment with his principles and invest paper money before I actually take the plunge and invest my hard-earned cash. It’s something I definitely want to try when I can research adequately the companies that interest me. I recommend the book. He doesn’t talk down to you, and really helps you believe that ordinary folks can invest wisely if they understand basic formulas.”
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Jill (4 out of 5 stars)
