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on March 6, 2009
This book is "nuts and bolts", "blocking and tackling"...pick your is a guide on the basics of investing.

After delving briefly into what has happened over the last couple of years, Velshi touches on debt and then spends the rest of the book on investing. If you are a sophisticated investor, this is probably not for you. It discusses finance 101 topics such as the time value of money, dollar cost averaging, long-term focus and mutual funds. It is clearly a "keep it down the middle of the fairway" type of book.

But that is why I like it!

Too many people developed a sense that they were smarter than the market. They felt that if their investment strategy didn't involve something complex and barely understandable, then it wasn't good enough.

Guess what, guys... that's what got everyone in trouble! Banks and other financial institutions were trading AIR. Products were repackaged so many times that people didn't even know what they were buying.

Velshi brings us back to the basics and IT...IS...A...Good...Thing!!

Here is a list of the chapters:

1. What Happened?
2. Credit Where Credit is Due.
3. Putting Your House in Order.
4. The World of Investments
5. The Key Principles of Investment Success.
6. Instant Diversification: Mutual Funds, Index Funds, Alternatives and Exchange TRaded Funds.
7. Building Your Custom-Tailored
8. Kicking Back in Retirement
9. Your Next Steps

All of it is basic and filled with common sense.
All of it is beneficial.

Another book that takes a tactical approach to money management isAre There Cracks In Your Nest-Egg?: A Quick and Easy Guide for Building and Preserving Wealth. The author leads you through all aspects of planning from budgeting to Wills and Trusts. It is written in a story-teller style and gives you specific actions to take.

I highly recommend both of these books to get you out of the deep grass.
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1 of 1 people found the following review helpful
on May 1, 2009
This book is wonderful. Ali Velshi has done a great job in clearly explains why the economy collapsed and how can we respond to this problem. Anyone can understand the book. I am sure that this book can help you to design your strategy on investing.
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on March 16, 2009
Ali Velshi's book, "Gimme My Money Back" is a great read that I would highly recommend to everyone. But, now, as our economy is tanking, this book is truly a must read. I'm an environmental engineer and thus know only the very basics about economics. I'd heard a multitude of hypotheses attempting to explain the current economic meltdown. But none seemed to resonate, until Ali Velshi explained it using everyday analogies that everyone can relate to. Ever since then, I've felt smart during conversations about the economy. (Even when it comes to the the sub-prime mortgage crisis and derivatives.)

Having given us a grasp of the economic woes that we're all feeling, Mr. Velshi transitions into what we (whomever you are) should do to evade a potential economic catastrophe. "Gimme My Money Back" has not only educated me but has also given me invaluable advice on how to manage my finances and investments in these trying times. (Not to mention reduced my stress level a great deal.)

Ali Velshi is truly the best financial analyst I've ever read. Not only will you feel more informed after reading this book but you will also feel less angst knowing that you have a handle on the current economic turmoil.
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on September 17, 2009
Ali Velshi is well known to the general public as the Chief Business Correspondent for the CNN television network. His analytical commentary has been a staple of CNN's coverage of the financial collapse of the country's financial infrastructure. Now he has compiled and presents a thoroughly comprehensive and 'reader friendly' guide to how financial markets work, how this current economic recession happened, and then provides sound, practical, applicable, steps that anyone can take to recover from the impact of these hard financial times. "Gimme My Money Back" is a step-by-step guide to calculating personal risk tolerance based upon such factors as personality, goals, age, and years to retirement. Velshi also covers how to avoid losing money, utilize mutual funds, index funds, stocks, ETF's, bonds, and other investment tools to accelerate personal recover from financial losses. Sensible, articulate, and candid, "Gimme My Money Back" is strongly recommended and essential reading for anyone seeking to understand how the country got into its present financial difficulties -- and how they personally can recover from the damages done to their portfolios.
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on May 6, 2009
I have to admit when I first picked up Ali's Gimme My Money Back I was a bit skeptical. How was this book really going to help me learn how to beat the financial crisis? But as I read, I learned a lot about what I should be doing to keep myself from spending my retirement broke...And I learned that the guy I had been talking to about getting my 401K started really didn't know what he was talking about. Granted its not going to make you an investing genius overnight but it definitely does give you a good place to start, especially if you are like a lot of people out there and cannot really afford a financial advisor and are just going it on your own. The most interesting part is Chapter 7, which includes a Risk Tolerance Test to help you determine your level of risk aversion. The test is followed by portfolio models to kind of show you how your portfolio should be set up according to your risk tolerance score. It was very helpful. After reading the book I set up my portfolio and I'm already beginning to see gains on my money! Ali is definitely a financial genius and Gimme My Money Back is an excellent read!
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on March 20, 2009
As a financial planner, I've been getting hit from all sides about this financial crisis and my suggestions to investors are varied and diverse, but what I've determined is that you have to address the real problem in this economy in order to really make sense of it. Ali Velshi misses the point completely on the current economic crisis and thus, his very astute conventional investment advice does not really apply.

First, Velshi gives us a summary of the mortgage bubble and what caused it but just glazes over the real cause of the bubble (the Federal Reserve inflated the currency and made money too cheap and government mandates forced that money into bad mortgage investments). Meltdown and Surviving the Second Great Depression show the fascinating and scary detail of the real cause of the collapse.

Aside from the glossing over of the real problem, Velshi's general investment advice is good. He gives basic knowledge of stocks, bonds, and other investment tools that would help any beginner.
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on April 5, 2009
I bought this book for several members of my family. I have heard nothing but good things from all that have received and read it. My dad's copy is underlined and highlighted extensively. I gave it to my nephew as a graduation present and he thinks it is great. I also have a copy and plan to read it again as the economy and my income changes. It is the greatest financial information I have ever read. I love the fact it is written in a language that real people can understand. Not everyone is up on technical terms utilized in the financial community and he makes it all easy to understand. I give this a 10 star rating I do not think 5 stars is enough.
Tracy P.
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on August 7, 2009
I respect the guy .. he is very intellegent .. I just can't believe that this guy who shine on CNN .. is the same guy who wrote this book .. it is just a small book have a collection of abbreviations .. no real advice .. no real explaining .. analysis is poor (he did not even explain right the root of the crisis).. he just filled 150 pages to make a selling and rush a book to distbruting .. shame shame shame .. some articles on the web do better job than this .. the name of the book is misleading .. I would like to demand to GIVE ME MY MONEY BACK.
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on February 10, 2009
My wife glomed on to this book when she saw it sitting on my end table, and I haven't been able to get it away from her since to read it myself. She's certainly no dummy, but if she can read it and understand it, and we're able to discuss it intelligently as she's doing so, Ali has obviously written one heck of a book. I know my wife intends to use some of his advice in managing her investments. From what we've discussed, I'm sure I'll do the same...if she ever gives up what has become her favorite source of financial knowledge.
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on February 6, 2009
I always look forward to watching Ali Velshi on CNN because he speaks in a way that those of us who are NOT economists can understand. This book is no exception. He give us easy to understand background relating to the financial crisis we now face; and I also appreciate his positive recommendations for ways in which we can help outselves during this difficult period in history. He also gives me hope for the future and reinforced my beliefs that we will get through this and be stronger as as result.
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