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Investment Mistakes Even Smart Investors Make and How to Avoid Them Hardcover – December 8, 2011
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About the Author
Larry E. Swedroe is the bestselling author of the The Only Guide series and other successful investment guides. He writes the blog “Wise Investing” for CBS MoneyWatch.com and speaks frequently at financial conferences. He is also a principal and Director of Research for The Buckingham Family of Financial Services, which includes Buckingham Asset Management and BAM Advisor Services. In addition, he has held executive-level positions at Prudential Home Mortgage, Citicorp, and CBS.
RC Balaban is a former journalist and currently the media specialist for The Buckingham Family of Financial Services, which includes Buckingham Asset
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Top Customer Reviews
If you think you can gain advice from listening to a talking head on television, for example, you can do two things:
1. Read this book, which will convince you otherwise (cheaply)
2. Take the advice of the experts on television, and learn the same thing--eventually--at the expense of your future nest egg. Analysts and economic forecasters prove, time and time again, that they aren't worth their weight in sand.
I especially like the warnings given to those who think they can buy individual stocks, and do well. Many people think that all you need to do is buy great companies. But this book articulates, clearly, what so many academics have known for years. The best performing stocks tend to be those that nobody has the guts to buy. And if that tempts you to buy garbage stocks in hope of great rewards, you might want to think twice. There's no easy way to beat the market. Trying to do so (and learning from your mistakes) won't be a cheap education. It will be an expensive one.
I wish every parent and grandparent could read just two pages of this book, each day, to the children in their lives. It's a teaching tool that would benefit the next generation.
But even if you've read everything Larry and friends have written to date, you'll be cheating yourself if you don't add his latest to your library -- and as a gift to your friends' and family members' libraries, while you're at it. If you've been investing so poorly that you can only afford one book on how to restore sanity to your investment activities, this may well be "the one." Larry and RC have taken the best of: (1) our own worst behaviors, (2) the biggest Wall Street hurdles standing in our way, and (3) the biggest mistakes made in understanding and implementing the tenets of sensible investing. They've stuck them in one, tidy little volume. They've slapped an affordable price tag on it, especially if you consider the wealth you'll save from the learning. What's not to love about "Investment Mistakes Even Smart People Make"?
This new eBook is another gem. It contains the do's and do not's gleaned from his other books,carefully organized, a valuable guide for the average investor. When I finished reading the book I thought here is a first aid kit for the investor frightened when the stock market crashes. Larry has cleverly used some of the interesting features of eBooks. For example in the index find the term and then with one click your are taken to the exact place where the word or term is explained in detail. And with one click returned to the exact place you were when you left the text. This feature saves lots of time and makes reading comfortable easy.Use that little arrow in the upper left hand corner of your screen to use this feature.
The glossary and index are helpful to the new investor who may not be able to understand the technical terms used by many writers of financial books. You will find that you will be using this book many times after you first read the volume. and using these features long after you have finished this eBook and reading other financial books.
One thing about any of Larry's books is that each point is carefully and clearly explained. You never have the feeling what was he talking about.I buy all my books on investing from Amazon and my book cases are full of them. Any book that does not fit your requirements can be returned , no questions asked postage paid. Once I purchased a school book for my grandson and he called me to explain that the professor had changed the book for the class. College text books are extremely expensive and Amazon arranged that he returned the book and my purchase price was promptly credited to my account without questionj.
The book shows why investment returns in stock markets of high growth countries on average are below those of slower growing economies. The idea is that expectations of growth are "in the market" and therefore what is more in our control is managing risk.
To cite just one more idea, almost all of us tend to plan the way forward by looking back at the recent past. The author made up a term for this phenomenon - "recency." It's really, really difficult to not make this mistake when investing simply because of all the messages we get from the media and other sources that are based on recent experience.
At the end of the day, this book is about getting to know oneself. It's about understanding why we feel the way that we do about investments. This approach should help anybody in the effort to avoid making as many fundamental mistakes.
Most Recent Customer Reviews
This book is terrible at providing investment advice to experienced investors. In addition, I found the author's style to be more condescending rather than helpful. Read morePublished 4 months ago by Mark Orr
Not really what I was looking for ... a Q&A format that didn't hold my interest very well.Published 7 months ago by Levmark
Larry is a great person to learn from. He helps to simplify things! If you like this book check out his blogs too.Published 19 months ago by Irish1977
I was looking for new ideas and thisis something that spent a lot of time discussing things that common sense would have eliminated
Another good investment book by Larry Swedroe.I Like the question format used in this book. If you stick to this method of low cost diversified index fund investing you have a much... Read morePublished on May 20, 2012 by Investor
The authors rely on a combination of their knowledge along with outside studies and third-party quotations to point out behavioral and investment errors. Read morePublished on May 4, 2012 by Charles Rotblut
Larry does it again with another great investing book. The book details inveseting mistakes people make, how to avoid them, and have to invest wisely.Published on March 28, 2012 by DSMaddox