This book offers the easiest way yet to learn the key principles of investing. Weighing in at just 136 pages, it conveys more knowledge than many books twice as long, with charm and humor that makes it a pleasure to read. For those who are new to the subject, the book starts at the very beginning, explaining such basics as the difference between stocks and bonds. The book isn't just for beginners, though. People who have invested for years will learn how to achieve faster growth at lower risk by eliminating unnecessary (and sometimes hidden) expenses and maintaining better diversification. The first section of the book, "Laying a Foundation," explains how money grows and the relationship between risk and reward. The second section, "The Investor's Toolbox," introduces stocks, bonds and other categories of investments, as well as different types of investment accounts. The final section, "Building a Strategy," explains how investments really work (why a stock's price might go down, not up, immediately after a company announces good news, for example) and shows how to put sound investment principles into action. The author isn't content to point his readers in the right direction. He also offers a way to develop habits of thought that will help them stick with a good strategy through difficult times. Read this slim volume and you'll be prepared for a lifetime of investing.
That Thing Rich People Do: Required Reading for Investors
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Book Description
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Editorial Reviews
About the Author
Kaye A. Thomas writes books on taxes and investing, and maintains a website covering these topics at Fairmark.com. He graduated from Harvard Law School in 1980.
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Most Helpful Customer Reviews
6 of 6 people found the following review helpful
Format:Paperback
This small, well-written primer, meant for those who know little or nothing about the investment process, is a veritable gem, possibly even to become a classic.
As a retired liberal arts college economics professor who also taught investment practice during the first half of my career, and then became a Registered Investment Advisor to persons, retirement and 401-k plans and a mutual fund, I was thrilled to find this compact source for the uninitiated.
The author's writing style is easy, conversational and witty, holding the reader's interest from cover to cover. The 136 page book authoritatively explains the entire topic in twenty-two short chapters, any of which can be read and understood quickly. They are organized into three larger sections.
The first lays the basic foundation and presents a number of necessary cautions; the second fully presents each of the tools of investing (e.g. stocks, bonds, et al); and finally, the last helps novice investors design a safe personal program for using these tools in strategies built upon the sound general principles developed throughout the book.
Both the joys and pitfalls of the investment process are clearly presented and will help readers avoid the trap of "learning the lessons after the experience."
In summary, this short but powerful and easily comprehended survey is, in my view, a "must read" for all who want to learn about investing from the ground floor up. Also, it is particularly suitable for young people (late high school/early college students) ready to start thinking about investments.
I grade it an A+, and would use it as a text were I still teaching .
John H. Chapman, Jr., Ph.D.
As a retired liberal arts college economics professor who also taught investment practice during the first half of my career, and then became a Registered Investment Advisor to persons, retirement and 401-k plans and a mutual fund, I was thrilled to find this compact source for the uninitiated.
The author's writing style is easy, conversational and witty, holding the reader's interest from cover to cover. The 136 page book authoritatively explains the entire topic in twenty-two short chapters, any of which can be read and understood quickly. They are organized into three larger sections.
The first lays the basic foundation and presents a number of necessary cautions; the second fully presents each of the tools of investing (e.g. stocks, bonds, et al); and finally, the last helps novice investors design a safe personal program for using these tools in strategies built upon the sound general principles developed throughout the book.
Both the joys and pitfalls of the investment process are clearly presented and will help readers avoid the trap of "learning the lessons after the experience."
In summary, this short but powerful and easily comprehended survey is, in my view, a "must read" for all who want to learn about investing from the ground floor up. Also, it is particularly suitable for young people (late high school/early college students) ready to start thinking about investments.
I grade it an A+, and would use it as a text were I still teaching .
John H. Chapman, Jr., Ph.D.
3 of 3 people found the following review helpful
Format:Paperback
The book covers all the basics of investing. Hopefully, it will whet readers' appetites to learn more in depth on each topic. While I agree on the vast majority of topics, I think the author was far too negative about ETFs and using options to increase income and reduce risk
Regarding the use of advisors, I think he missed a significant point in that, while nearly everyone can learn how to invest on their own, many do not have the time or inclination to do so. Furthermore, one of the greatest dangers to the new investor is allowing emotion to enter in their decision making process. An advisor makes decisions based on fundamentals, technicals and risk adjusted reward. Emotional decisions is what kills many investors.
Regarding the use of advisors, I think he missed a significant point in that, while nearly everyone can learn how to invest on their own, many do not have the time or inclination to do so. Furthermore, one of the greatest dangers to the new investor is allowing emotion to enter in their decision making process. An advisor makes decisions based on fundamentals, technicals and risk adjusted reward. Emotional decisions is what kills many investors.
1 of 1 people found the following review helpful
By Bulkman
Format:Paperback|Amazon Verified Purchase
this book might be ok for maybe an 8th or 10th grader but a lot of the info is all very BASIC
save your money if you have any decent investemnt knowledge.
save your money if you have any decent investemnt knowledge.
Most Recent Customer Reviews
5.0 out of 5 stars
Good Book
Highly recommend for any new investor. It's a lot of basic stuff but I still enjoyed reading it. I love reading all kinds of financial books but its really pretty simple to me. Read more
Published 21 months ago by W. Scott Weldy
5.0 out of 5 stars
Another Book Review by the Aleph Blog
If you know anything about investments, this is not the book for you. This is the book for your relative or friend that doesn't have the barest idea about how to manage... Read more
Published on February 12, 2011 by David Merkel
5.0 out of 5 stars
Investment Basics
Kaye Thomas' book "That Thing Rich People Do" is a well written investment primer. His casual, conversational style of writing is inviting. Read more
Published on December 17, 2010 by Jeannie
4.0 out of 5 stars
Great overview for new and experienced investors alike
A straight-forward look at investing from someone with the experience and knowledge to provide trusted guidance. Read more
Published on December 13, 2010 by S. Thornton
4.0 out of 5 stars
A GOOD BASIC FOUNDATION
This is a great book for someone unfamiliar with the basics and terminology of the investing world. It provides short, easy to read overviews of investment products and some basic... Read more
Published on December 10, 2010 by Peter
5.0 out of 5 stars
Fundamentals Of Investing Explained
If you know nothing about investing then this is the book for you. It will get you up to speed quickly because it explains the fundamentals in a simple to understand way. Read more
Published on December 7, 2010 by bill m
5.0 out of 5 stars
Concise and informative
This is a fairly comprehensive book for the beginning and more experienced investor. This book will help you get up to speed on the basics of saving and multiplying your funds. Read more
Published on December 6, 2010 by Kelly Pfister
4.0 out of 5 stars
Investment info you should know
If you are unsure how to start a sensible investing plan, or have been just putting money into your 401(k) plan, but not really sure you are doing what is best, then `that thing... Read more
Published on December 1, 2010 by Shirley Conrad
4.0 out of 5 stars
Great introductory book
"That Thing Rich People Do" is certain to be a great book for beginning investors. It reads more like a short story than a stodgy textbook which is unfortunately how many books on... Read more
Published on November 26, 2010 by Jack
4.0 out of 5 stars
Tortoise vs Hare
Kaye Thomas has produced a book of good, readable, conservative, and digestable advice and information. Dave Ramsey and Warren Buffet could both applaud this book. Read more
Published on November 26, 2010 by RRConboy
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