Product Description
Why do so many smart professional people make bad investments? Why do they often fail to accumulate significant wealth and sometimes make truly disastrous financial decisions? This book offers some answers to these questions. It then provides specific recommendations to help doctors, lawyers, scientists, teachers, and many other intelligent people avoid serious financial errors and achieve superior investment results. Sensible self-directed investing with long-term compounding of returns and avoidance of all unnecessary fees can produce remarkable accumulations of capital with limited risk. You can choose to be successful as a largely passive investor or as one more seriously involved in making individual investment decisions. This book tells you how to do it. Buying this short volume and then putting its advice into practice may become the most important financial decisions you have ever made.
From the Publisher
What explains the contrast between the apparent simplicity of sound investing principles and the inferior and sometimes disastrous results with their personal investments of so many highly intelligent, well-educated people? Smart people including professionals in fields outside of business and investing often are poor investors. Indeed, the training and experience of many professionals predisposes to attitudes and actions inimical to investment success. If you are a bright person seeking to do better as in investor while continuing to focus on your chosen profession, this book was written for you, and will guide you to build wealth more effectively. It is packed with concise, valuable information on crucial investment issues including the contrast between investing and speculation, whether or not to utilize an investment advisor, the importance of minimizing investment fees and costs, the dangers of borrowing money to buy stocks, the value of tax deferral, and the amazing power of long-term compounding of returns. If you decide to be a passive and minimally-involved investor, you will discover how you can still attain results better than most actively managed mutual funds. And should you wish to strive for the large potential gains from superior selection of individual equities, a sound philosophy and recommended steps are provided on how to do so while observing the first and most important rule of investing, "Don't lose your money." This book is highly recommended to all personal investors.
