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  | The Only Investment Guide You'll Ever Need
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Average user rating:  | |
 The best investment book out there | |
| By way of background, I studied finance at a top business school and understand the theory of investing from some of the top professors in the country. But in terms of netting it out into something usable and understandable from an everyday personal investing standpoint, this was better than all of that combined. Tobias cuts thru all the crap the brokers tell you, and by the end of reading this you'll be able to judge good advice from bad advice (at a minimum) or manage your own finances without a professional (even better). | |
| Some good advice, esp. if you are a couch potato | |
| The best line in Andrew Tobias's 25-year old classic is, one penny saved is two pennies earned. Why? Because when you save two pennis, close to one is taken away by the government, unless you are some dirt-wealthy person protected by tax shelters and a carribean passport. So by not eating that $... sushi meal, it's the same as you just earned $..., minus the cost of the McD burger. Tobias also points out the pitfalls in many popular investments, ranging from stamps to whole life insurance to insider stocks. The book is refreshing, even after 25 years. I totally wish I had had heeded his advice all these years. Indeed, if I had just bought some long-term bonds back when interest rate hit double digits, I would have retired long ago. Instead I played the equity market and in all these years, came out flat at best, not counting the uncountable number of sleepless hours and numerous occasions of near heart attacks. Because Tobias aims to keep the volume slim -- although the latest edition is bigger and 3 times more expensive than the last one I bought back in 1989 -- a lot of important things are left out, e.g., real estate, trusts, etc. Half of the book is devoted to stocks. While the advice is must-read for every small investor, I was hoping to see more content on bonds and also chapters devoted to hedge funds and real estate. Sure Tobias can say something about these increasingly popular vehicles. A timeless classic marred by some missing chapters, but still a gem in a world populated by useless investment advice, in book form or in person. | |
 Avoiding losing is not winning | |
| Andrew Tobias provides an excellent guide on how to avoid losing. Unfortunately, that does not necessarily amount to winning. While this common-sense book is extremely logicical on the surface I have yet to meet or hear of the first person who acheived financial independence by following its recommendations even though it has been in print for decades. Sadly, the title is incorrect. While this is a good book on saving and cutting one's cost of living, it is not the only investment guide you will ever need. | |
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