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The Smartest Investment Book You'll Ever Read: The Simple, Stress-Free Way to Reach Your Investment Goals Hardcover – Bargain Price, November 7, 2006
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A no-nonsense, no-fuss guide for investors of all experience levels and financial resources. -- Kirkus Reviews, November 1, 2006
I just finished a great little book (I say little because it's a bit smaller than a regular book in size and is only 150 pages), but it's full of great investment advice, principles, data, facts, studies --you name it. The book is The Smartest Investment Book You'll Ever Read: The Simple, Stress-Free Way to Reach Your Investment Goals. -- FreeMoneyFinance.com
Is this, as the title claims, the smartest investment book you'll ever read? ..... I can say it's the smartest so far. -- ConsumerismCommentary.com
It's tightly written, always on-point and not weighed down with anecdotes and aphorisms, and could be just the instruction book that you were looking for, but never received with that thick pension package from your company's HR department. -- Miami Herald, November 27, 2006
Solin does a great job of keeping his advice simple; his guide can be read...in a couple of hours. -- Library Journal
[Solin's] recommendations are sound and simple to put into effect... it is clear he is on to something. -- The New York Times, October 8, 2006
About the Author
More About the Author
He is the co-author of Mandatory Arbitration of Securities Disputes, A Statistical Analysis of How Claimants Fare, which examines the fairness of the mandatory arbitration system imposed on investors by the securities industry. He testified before a congressional subcommittee investigating the mandatory arbitration system.
He writes financial blogs for The Huffington Post and USNews.com.
He graduated from Johns Hopkins University and the University of Pennsylvania Law School. He is the director of investor advocacy for The BAM ALLIANCE and a wealth advisor with Buckingham Asset Management.
Top Customer Reviews
Solin recommends that investors follow four steps with their investments to beat the vast majority of professionals:
1. Determine your asset allocation based upon your personal parameters (Note: author provides a multi-page asset allocation questionnaire to determine a specific score for each individual's circumstances and risk tolerance).
2. Open an account with Fidelity Investments, Vanguard or T. Rowe Price.
3. Set up your portfolio among three specific no-load, low internal expense index funds in any of the three fund families representing the total U.S. stock market, international market, and U.S. bond market, or purchase three specific similar in composition ETFs.
4. Rebalance the portfolio twice a year.
The author provides readers with a specific percentage of dollars to be invested in each fund or ETF depending upon the investor's risk tolerance. In an appendix, he provides the historical returns of these portfolios for the four risk combinations (e.g., 20% equities/80% bonds, 40%/60%. 60%/40%and 80%/20%).
He appropriately warns investors about hedge funds, house funds, margin, B and C mutual fund shares, and other concerns that result in higher costs and lower returns. With the advent of the Internet, investment scams have proliferated and investors need to be exceedingly careful with their money.Read more ›
Solin's book has four sections although I feel like there were really two main ideas. One, that index funds are a more solid investment strategy than stocks or mutual funds because you cannot, nor any "professionals," beat the market. And Two, how to invest in the index funds (the fun part.) Solin provides solid research that shows results of many studys. All evidence points towards using index funds. "Financial Experts" and Wall Street have spent lots and lots of money on marketing themselves. They pitch themselves as having a financial expertise that helps them predict the market. This is false. Marketing dollars have also gone into telling the public that mutual funds will provide a great return because of the diversity and that they are being maintained by a "financial expert" that can beat the market with their expertise. This is also false.
The Truth: You can make just as much or more money than any "financial expert" and you can do this by avoiding mutual funds and investing in index funds.
There are just a couple differences between index funds and mutual funds, but the differences make a huge difference. A mutual fund is managed by a person, this person is supposed to be able to predict what stocks and bonds will rise and fall, so they buy and sell to appropriately position the fund to make high returns... you pay a premium expense to have this "luxury." An index fund is managed by a computer and the computer buys and sells stocks to position the fund in line with the right ratio of the market. This means the index fund will always earn the market average.Read more ›
Even the author concedes that we've heard this before. His contention, however, is that many of those scholarly works are difficult to understand and have not achieved commercial success thus conveying the impression that you can't do this yourself. That's the rationale for this book. The ideas are concise and accessible. Many will be put-off by the book's aggressive tone (e.g. most advisers are "hyperactive" and self-serving). Many will find this tabloid-equivalency refreshing.
The basic ideas - the importance of asset allocation and low investment costs - and many of the specifics - the recommended portfolios - of this book make sense for many investors, I'm not sure all. Solin talks about including bonds as "ballast" in a portfolio, but what about the specific value of tax free municipal bonds? Among the best performing investment classes in recent years (and at other times) have been real estate and commodities. These diversifying asset classes are overlooked, even though ETFs track indexes for those different markets.Read more ›
Most Recent Customer Reviews
It really is a great way to have self help access to useful investment information!Published 1 month ago by Jade
I always thought, "there's no way that little old me could figure out how to invest better than leading investors who spend every waking moment living in that world". Read morePublished 1 month ago by David J. Bradley, MBA
Very helpful for beginners who want to invest without losing money to advisors.Published 2 months ago by Miguel Elizondo
Great book, funny, interesting. Definitely worth the money.Published 4 months ago by Javier Adrian Llorente Elizodno
this is very good investment advice for the person who knows very little about investing and wants to learn strategies for making solid decisions with their money. Read morePublished 4 months ago by Lucky Husband
The title is accurate. Should be required reading for seniors in high school and in college. Easy to understand. Concise.Published 5 months ago by LikesFishing
Great read and valuable info for any one to get in financial shape.Published 5 months ago by LOOTPOST