Top positive review
6 people found this helpful
Book deserves 3.75 stars
on March 3, 2011
Hmmm, I am surprised at the negative reviews of this book; I saw it on the library shelf and have not purchased the book. I did enjoy reading it however. The major point of the book is after the 2008/2009 market meltdown, that the conventional buy and hold strategy OR the conventional diversification advice (stocks, bonds) of the past decades has now been repudiated. (This seems obvious of course, however the book is good at explaining the nuances in the change in mindset.) Instead, we need to consider diversifying into alternative investments. And in place of buy and hold, we need to rebalance, ie, sell the winners and buy the losers. These new paradigms may seem self-evident now, and unoriginal but his thesis stands against considerable conventional and previously successful wisdom (e.g. John Bogle on Vanguard funds). I have read numerous investment books, and I think this tome deserves a positive review. It also has a nice pictoral of the period of time during the financial crisis.
I am not an unsophisticated investor and have read many investment books. I suppose if the book had come out before the 2008/2009 debacle, then it would have been prescient and much more helpful. However the major change in investment philosophy is that one has to be much more prepared for financial accidents than was previously thought and the author gives ideas on strategies in this regard. The major complaint I have that the book is too light on details and is a small paperback. A more substantial effort on the details would have taken more time, effort and had been a larger work and would be in order. I think I will give the book 3.75 stars if Amazon allowed numerical ratings.