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The Lazy Person's Guide to Investing: A Book for Procrastinators, the Financially Challenged, and Everyone Who Worries About Dealing with Their Money Paperback – April 17, 2006

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Product Details

  • Paperback: 336 pages
  • Publisher: Business Plus (April 17, 2006)
  • Language: English
  • ISBN-10: 0446693871
  • ISBN-13: 978-0446693875
  • Product Dimensions: 6 x 1 x 9 inches
  • Shipping Weight: 12 ounces
  • Average Customer Review: 3.9 out of 5 stars  See all reviews (43 customer reviews)
  • Amazon Best Sellers Rank: #1,070,972 in Books (See Top 100 in Books)

Editorial Reviews

From Publishers Weekly

Popular CBS Marketwatch columnist Farrell provides a thoroughly enjoyable and straightforward look at what he sees as "the future of investing"-"simple lazy portfolios that'll work for anyone and are easy to understand." He provides three different model portfolios based on one simple formula: "rock-solid, easy-to-understand asset allocation using no-load index funds." Farrell is a huge proponent of no-load funds such as the Vanguard 500 Index, which tracks the Standard & Poor 500 listing of America's largest companies, and the Vanguard Total Bond Market Fund Index, which matches the performance of the Lehman Brothers Aggregate Bond Index. Farrell persuasively argues that the strong long-term performance of these funds, even during hard market times-along with the strong performance of other Vanguard index funds such as those for large-cap and small-cap value-proves that "the only rational strategy" for the vast majority of America's 94 million mutual fund investors is "a simple buy 'n' hold strategy" that diversifies portfolio assets across multiple categories of assets. Packed with clear examples of how regular people can easily handle their own investments, Farrell's guide also takes on other sacred cows, such as Wall Street's belief that brokers know more than you do, and provides an exciting and illuminating section on no-load stocks, or DRIPs, which he calls "Wall Street's best-kept secret."
Copyright © Reed Business Information, a division of Reed Elsevier Inc. All rights reserved. --This text refers to an out of print or unavailable edition of this title.

About the Author

DR. PAUL B. FARRELL lives in Arroyo Grande, California

Customer Reviews

This is a great book for all levels of investors!
Kirk W. Lindstrom
I really wanted to like this book, but there was nothing useful for me; 200 pages that could be summarized in a paragraph.
Christopher Evans
Farrell demonstrates how buying index funds provides the diversification and risk protection needed by most investors.

Most Helpful Customer Reviews

55 of 59 people found the following review helpful By A Customer on June 11, 2004
Format: Hardcover
I've been a serious investor for more than 30 years and have read much more than my share of investment books and articles. This is one of the more interesting ones I've read lately.
In general I am opposed to the idea that lazy investing can produce great results. If that were really true, we'd all be billionaires. However, no investor can succeed by adopting a strategy that's too complex to understand and implement. What many investors need is not rocket-science strategies that could shoot for the moon, but low-cost solutions that will keep them from going too far astray while avoiding massive losses. Dr. Paul Farrell has done a good job of describing lots of solutions like that.
My interest in investing was sparked when I was a teenager, by a book that described many fascinating concepts and ways that people can put their money to work making more money. It was all new to me, and I was instantly hooked ... and remain so today.
The book I read is hopelessly out of date. But "The Lazy Person's Guide to Investing" is a book that I would love to put into the hands of a potential investor or a young investor or an older investor who's just getting started. This would open such a person's eyes to a ton of possibilities and resources.
I don't think Farrell's book describes the ultimate solutions that will be best for people who have substantial savings. But it's not written for them. This book is written for a wide audience of people who are wisely wary of trusting Wall Street and the financial media - and who want some straight answers from somebody who's not out to pick their pockets.
For that audience, this book is right on target.
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22 of 23 people found the following review helpful By Jim Beam on April 24, 2005
Format: Hardcover
Although it's true that the book is short and often repetitive (some of the same quotes from famous investors are used 2-3 times in the same chapter), that doesn't mean it's not a worthwhile read. Farrell knows he's got something simple to say, but that's his point: investing using a simple allocation strategy using no-load index funds with the cheapest possible administrative costs delivers returns similar to managed funds and buying individual stocks without requiring any of the effort or time investing in the latter require from an investor.

There's not a lot of detail in the book, but note the title: "The Lazy Person's Guide to Investing." Lazy people don't want to learn about ROEs and P/E ratios and book values or how to analyze a stock or time the market. They just want their money to grow while they're off doing something else, like playing with the kids or shopping or sitting in front of the television. This book is for them, not the serious investor.
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15 of 16 people found the following review helpful By M. Dunbar on October 30, 2004
Format: Hardcover
The advice is very standard - buy index funds and diversify. Not enough data to evaluate which portfollio to pursue - relative rates of return, relative volativity, relative tax liability. Needs more data on how to follow a portfollio if you already have one, and more data needed on how to best re-balance.

Instead get the data free at Paul's web site: "Three 'lazy' portfolios still big winners Keeping it simple doesn't mean returns have to lag" By Paul B. Farrell, CBS.MarketWatch.com

Last Update: 8:00 PM ET Jan 28, 2004

Or [...]

Or [...]

Sorry I spent money on the book, as I heard all of this on his web pages.
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14 of 16 people found the following review helpful By Amazon Customer on February 26, 2004
Format: Hardcover
If you are a novice looking for a book that will help you to better understand what it means to invest and save for the future, then this book is for you. If you are looking for something that is more in depth about stock trading, then look elsewhere.
This book provides excellent advice for long-term investors who are either looking for someplace to invest while they learn how to design their own portfolio or who really want to put their money in the market and leave it alone for the long term. It is easy to read and gives readers confidence to go out and enter the market for the first time or to adjust current investments based on long-term goals.
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18 of 22 people found the following review helpful By Kapitalist on January 7, 2005
Format: Hardcover Verified Purchase
This is a no BS review. I am a 23 yr old, graduated w. business degree from university, trying to find a way to save my money while working at some crappy job in a huge company. 401k is limited but i do invest. I read this book and LOVED how it was straight to the point w/out any bull. He tells you EXACTLY what to invest in for each portfolio and has the avg returns. Lazy investing will make you more money in the long run with less stress.

I hate when people say.."oh your young, you can handle more risk." Why? because i have more years to work my a$$ off. NO THANKS! I like secure safe investments the same as a 50 yr old.

Thanks to this book i got in on DODBX dodge and Cox Balanced Fund the MOST ULTIMATE laziest portfolio (hybrid fund) in the book. Now it is closed to new investors, but stick with the Vanguard index and bond fund. Also, fyi Fidelity has a spartan fund that has an even lower expense ratio of .10 instead of Vanguard's .18, but Vanguard's expense ratio has been like that forever, whereas Spartan's exp ratio was recently changed to .10 to directly compete and you never know what those Fidelity people will do?

This book gets 10 stars!!

Other books that totally helped out were:

Automatic Millionaire> setup everything automated so you dont have to think twice about investing!!! duhhh

Richest Man in Bablyon> similiar read but great classic/story

Rich Dad Poor Dad> started me on this road to thinking about RE and investing seriously ..gonna take my RE license in march for own investing!
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