Wiley Publishing has put out a series of “Little Books” but this one may be the most important. If you are looking for ways to logically increase your wealth and secure your financial future, this is definitely a great starting point that will get you going in the right direction and help you avoid some common pitfalls along the way. We appreciated the no-nonsense style of writing and found that unlike many personal finance books, this one actually contained information that anyone can use, regardless of their current financial status or their knowledge of finance in general.
If the process of finding out which companies are the best to invest is somewhere between Greek and Sanskrit for you, this book offers a true guide to figuring out on your own what you need to do. From breaking down complex investing theories, to providing you with the tools to know when a deal is a good buy and when to walk away, this book has it all. Rarely have we seen a book that worked so hard to make it easy for anyone, and we really mean anyone, to invest.
You’ll learn how to spot economic moats as well as what may appear to be a moat, but is in actuality something else. The book uses real world examples to illustrate their points, such as the failure of Pets.com, to national clothing makers that investors thought were solid, only to have their clothes end up in discount stores within a few years. This is the kind of information that you need, especially if you are not working with a broker, or if you want to try figuring out the markets on your own.
The best section was the tools for valuation, which provides investors with easy ways of figuring out whether or not a stock is a good buy. This section alone is worth the cost of the book and we walked away with information that we could put to use right away. Another must read several times is the section on knowing when to sell. Many first time investors make the mistake of bolting when they need to hold on, or holding on too long. This chapter will help them find the right balance.
Overall, we loved the book and found it to be a resource that you can turn to again and again. It was very well written and engaging, which can be difficult for a book that is about facts and figures. We also fell in love with the fact that the book did not focus on get rich quick schemes, investing in insurance policies or investing in the housing market using shady deals. Unlike many books, the advice in here is proven and it really works. When it comes to making more money, this book can definitely get you started and you’ll have the benefit of working with the same techniques that Warren Buffett has used. You really can’t get any better than that.
Originally posted 2008-12-08 12:57:34. Republished by Blog Post Promoter
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