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Wise Investing Made Simple: Larry Swedroe's Tales to Enrich Your Future (Focused Investor)
 
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Wise Investing Made Simple: Larry Swedroe's Tales to Enrich Your Future (Focused Investor) (Hardcover)

~ Larry Swedroe (Author)
4.8 out of 5 stars  See all reviews (24 customer reviews)

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Wise Investing Made Simple: Larry Swedroe's Tales to Enrich Your Future (Focused Investor) + The Only Guide to a Winning Investment Strategy You'll Ever Need: The Way Smart Money Invests Today + The Only Guide to Alternative Investments You'll Ever Need: The Good, the Flawed, the Bad, and the Ugly
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Editorial Reviews

Review

"Larry Swedroe's book, Wise Investing Made Simple: Larry Swedroe's Tales to Enrich Your Future, is the best one he has yet written. In a series of stories tha tare clear and simple yet profound in their meaning, Mr. Swedroe explains how modern financial markets really work and how any investor who comes to understand this will be able to make more informed and better investment decisions. I highly recommend this book for all levels of investors-as well as their advistors." --W. Scott Simon, author of The Prudent Investor Act: A Guide to Understanding

"Like stories around the campfire, Swedroe weaves familiar concepts into lessons explaining the mystery of how and why free markets work. Swedroe will clear the smoke and mirrors that conceal the failure of active management." --Mark T. Hebner, author of Index Funds: The 12-Step Program for Active Investors

"We remember a good story long after the facts are forgotten. Larry Swedroe tells stories that will change your beliefs-and make yourself a better investor." --Weston J. Wellington, Vice President, Dimensional Fund Advisors


Product Description

Larry Swedroe offers engaging stories to readers as a way of explaining sound investing concepts.

Product Details

  • Hardcover: 200 pages
  • Publisher: Charter Financial Pub Network (September 1, 2007)
  • Language: English
  • ISBN-10: 0976657422
  • ISBN-13: 978-0976657422
  • Product Dimensions: 9 x 5.9 x 0.8 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.8 out of 5 stars  See all reviews (24 customer reviews)
  • Amazon.com Sales Rank: #170,514 in Books (See Bestsellers in Books)


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Customer Reviews

24 Reviews
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Average Customer Review
4.8 out of 5 stars (24 customer reviews)
 
 
 
 
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44 of 44 people found the following review helpful:
5.0 out of 5 stars Stop driving yourself crazy. Invest sensibly for the long term., September 15, 2007
By Roger Streit (Roseland, NJ) - See all my reviews
(REAL NAME)   
Larry Swedroe's Wise Investing Made Simple uses short chapters and pithy stories to help readers rethink their basic premises and deeply held beliefs on how to be successful investors. The author asserts that most investors, without realizing it, do not know how markets work. Many investors are misled by conventional wisdom, economic forecasts, Wall Street recommendations, and CNBC gurus.

They mistakenly believe that smart people, working diligently, can discover which stocks are undervalued and should be bought, and which stocks are overvalued and should be avoided. They also believe that smart people can get in and out of the stock market at the right time. These mistaken beliefs lead to the search for a strategy that will "beat the market," a search that is doomed to fail.

Swedroe sets out to change the reader's understanding of how markets really work and to provide the reader "with sufficient knowledge to begin to make more informed and more prudent investment decisions." Along the way he debunks many investment fables, including: "Great companies make great investments," "Buy what you know," "Stocks are not risky in the long run," and "Past performance is a predictor of future performance."
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Wise Investing uses inventive stories in a clear, understandable and concise manner to illustrate why economic forecasts are not useful, why trying to time the market or find undervalued stocks is a loser's strategy, and why finding the next investment superstar is nearly impossible. He illustrates why overconfidence can be dangerous and how investors confuse information with exploitable knowledge.

Swedroe uses analogies from such sports as baseball, basketball, golf, and football. He also uses game theory, horse racing, and insurance examples. Without straining, he refers to astronomy, astrology, alchemy, and mythology to keep the reader interested. Finally he peppers his stories with specific historical examples, which are very convincing. Each story makes a point, and the cumulative effect is impressive.

Some of the very practical suggestions include how to interview and evaluate a stockbroker and how to evaluate an investment strategy, both before and after it is implemented.

If you already know something about investing, this will still be a useful book, because of the cumulative logic of the chapters, the engaging writing style and the memorable stories. Wise Investing will be useful to financial advisors in explaining to clients how to avoid the common pitfalls.

Wise Investing is primarily a "why-to" rather than a "how-to", in that to implement the strategy correctly you may want to read his earlier book - The Only Guide to a Winning Investment Strategy You'll Ever Need - or you may need an advisor. His last chapter covers why some people should consider using an advisor and how to find one you can trust. (Full disclosure - I am a fee-only financial advisor.)

Wise Investing is a valuable addition to anyone's library of investment books. It will be useful for all levels of investors.



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14 of 14 people found the following review helpful:
5.0 out of 5 stars Another Great Investing Guide, November 2, 2007
I've read all of Larry Swedroe's books on investing. As a wealth manager my objective is help clients make smart decisions with their money. "Wise Investing Made Simple" has two great benefits. Larry explains otherwise complex investing principles in simple, understandable terms using stories and situations familiar to most people. This has helped me hone my own skills to simply explain the complex to my clients and prospects. Also, it's been a great book to give to clients and prospects to deepen their own understanding of correct investing principles. There's so much investment garbage in the world. This book is a great antidote. I just bought an entire case of these books.
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11 of 11 people found the following review helpful:
5.0 out of 5 stars Stories are more powerful than data, November 24, 2007
By Allan S. Roth "dare_to_be_dull" (Colorado Springs, CO United States) - See all my reviews
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Larry Swedroe, a prolific author on investing, has written another great book. In Wise Investing Made Simple, he examines the very core of our beliefs that much of Wall Street and the media reinforce. Swedroe also explores the cost to the investor for assuming that these beliefs are true.

If you're looking for another book regurgitating data on the underperformance of complex active investing, you won't find it here. In place of mind-numbing, forgettable data, Swedroe imparts his message through real life stories. These stories give us something relatable and memorable to take away from the book, and inspire us to make changes - financial changes, in this case. Each story has a valuable "moral of the tale."

Stories are also more fun to read than a bunch of data tables, and Swedroe is entertaining as he delivers his valuable advice. The moral of his tale is to build wealth for yourself rather than Wall Street.
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Most Recent Customer Reviews

3.0 out of 5 stars Hard to decide if this book was helpful.
I'll admit, I'm a very neophyte investor. I found Swedroe's description of how the market works to make a lot of sense and the first few chapters alone gave me high hopes for the... Read more
Published 17 months ago by Robert Gamble

5.0 out of 5 stars Great Stories Illustrate Key Investment Principles
Wise Investing Made Simple: Larry Swedroe's Tales to Enrich Your Future (Focused Investor)[ASIN:0312339879 The Only Guide to a Winning Investment Strategy You'll Ever Need: The... Read more
Published 19 months ago by VegasTricia

4.0 out of 5 stars Wise Investing Made Simple
Excellent book on investing. It's all perfectly clear to me now. This really lays out what is going on in the investment community and how to have your own self interest in the... Read more
Published 19 months ago by Stephen C. Walker

5.0 out of 5 stars Wise Investing
This is a really good book if you want insight in how to invest your money.It speaks to investing in a way that is understandable even if you aren't a financial genius, or should... Read more
Published 19 months ago by J. P. Schmelzer

5.0 out of 5 stars Wise Investing!
Larry Swedroe's newest: "WISE INVESTING MADE SIMPLE", imparts both knowledge and valued advice, in a series of easy-to-read tales (i.e. Read more
Published 19 months ago by Douglas M. Gluntz

5.0 out of 5 stars Greatful I found this Book!!!
For any other beginning investors, this is the place to start! A easy, concise, and entertaining read, this book will provide the principals, along with the facts that support... Read more
Published 20 months ago by Sean A. M. Foley

5.0 out of 5 stars Great Educational Tool on Investing Which Is Fun to Read
I am a big fan of Larry Swedroe's books, and his postings on the Diehards dot Org website (Amazon does not allow links or web site addresses in these reviews). Read more
Published 20 months ago by Dale C. Maley

4.0 out of 5 stars Read it to believe it
Before this one I was reading Larry Swedroe's book " The only guide to a winning investment strategy you'll ever need", a book based on research, experience, facts and numbers - a... Read more
Published 21 months ago by R. Gosebruch

5.0 out of 5 stars Turn off the TV and dump those magazine subscriptions...
Larry Swedroe does it again in this gem of a book as he puts to the test many common myths from the investing world. Mr. Read more
Published 22 months ago by Jason Good

5.0 out of 5 stars The title speaks for itself
I have yet to not love one of Larry Swedroe's books, and his latest doesn't disappoint. This book really drives the point home as to why passive management is the clear... Read more
Published 22 months ago by Douglas Buchan

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