Customer Review

19 of 19 people found the following review helpful
3.0 out of 5 stars More than just a book review, September 3, 2010
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This review is from: Payback Time: Making Big Money Is the Best Revenge! (Hardcover)
Ok, I'll try to be concise here. I like the book. Yes, some of the concepts in Rule #1 are re-hashed here, but I thought the presentation from this book was better. If you buy the book, however, you'll see that you are offered a "scholarship" to attend a Payback Time workshop for free, which I decided to attend. As most people know, very few things in life are for free. As I expected from the "free" 2-day workshop, it was a technique to get people interested in purchasing additional training and access to software tools/data which have been developed specifically for using the techniques outlined by Phil in the book to find good companies to invest in. For the most part, the free workshop covered what was in the book, and there was some introductory coverage of options as well. It was nice to have someone available to address audience questions from topics not understood from the book, but I was disappointed that about half of the workshop time morphed into discussion about buying the tools/data & training. What really surprised me though is the book focused mostly on "investing", but the trainers talked a lot about "trading", especially with options. While I thought the tools/training looked pretty good, even the lowest package they offered was for $5,000 (which was for 6 months access to the tools/data), it felt like for me to spend that much money, I would really need to spend a lot of time learning, paper trading, and watching the markets, which I really don't have. I'd love to quit my job and be a trader, but in this economy it feels too risky right now. It's too bad that Phil doesn't blog/share a little more often for free on his website ([...]) so I could've better followed his ideas in advance of attending the class. Since some of the packages included "access to Phil" (to ask questions, discuss ideas, etc.) I might've been more inclined to spend the money had I had a little more experience with Phil in advance of the class. Phil actually Skype'd into the session to explain the packages and answer audience questions. I am still interested in the offerings, so I may go back later if circumstances change.
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