- Paperback: 320 pages
- Publisher: Fraser Publishing Co. (August 1, 1988)
- Language: English
- ISBN-10: 0870340840
- ISBN-13: 978-0870340840
- Product Dimensions: 5.2 x 1 x 8 inches
- Shipping Weight: 11.2 ounces (View shipping rates and policies)
- Average Customer Review: 62 customer reviews
- Amazon Best Sellers Rank: #7,413,332 in Books (See Top 100 in Books)
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The Battle for Investment Survival Paperback – August 1, 1988
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About the Author
Gerald M. Loeb worked on Wall Street as a stockbroker for forty years beginning in the late 1920s. He was also a financial writer whose articles were published in Barron's, Wall Street Today, and Investor Magazine. A prolific writer throughout his career, Gerald Loeb also authored Gerald Loeb's Checklist for Buying Stocks and Battle for Stock Market Profits.
Top customer reviews
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Loeb travelled the world as part of his investment business. He saw everything-- earthquakes, wars, revolutions, ravening inflations. People fleeing with all they could rescue of their lifetime savings on their backs. This led him to a great insight: There is no way to keep money safe from all the threats to it. The only way to keep your money "safe" is to grow it faster than it is nibbled away. So this book is about how to grow your money.
This book was first written a long time ago, but the lessons are still important. These are things most people don't know and most investment books don't cover. In fact, a lot of the standard investment advice-- the kind a "financial advisor" will be swarming you with-- will not grow your money and will not keep it safe from all the tiny, invisible erosions.
Please, read this book and think it all thru again. Do you really want to have all your money in a residence and rental property in earthquake and tornado country the way one hard saver I know does? Do you want to have 5 typed pages of load mutual funds to be properly "diversified" the way my sister did when she died? Do you want to keep your money "safe" in bonds now that you're retired the way my doctor is being advised to do? Do you really want to vote for that sales tax increase that's "only" 1% the way my aunt did?
"There is no line of endeavor in the world where real knowledge will pay as rich or as quick a monetary reward as Wall Street."
"There are three ways of making money. One is to sell your time. The second is to lend your money. The third is to risk your money."
And my favorite of them all:
"people who invest money for others have legal and moral responsibilities which often hinder the use of investment practices most likely to succeed."
In his view, the only way to keep money safe is to invest it in a way that will return enough to make up for what is eroded and chipped away. Liquidity matters. Don't have it all in one location-- i.e. don't have a lot in real estate in the same location you have your business in. e.g. California before the real estate bust and economic crash.
I happen to believe his investment style is correct: don't invest it all, be very selective about your buys, have only a few A+ ideas, and watch them carefully. When opportunity presents, go after it 100%. Keep losses small.
But even if you don't agree with everything Loeb says, this book is full of investment *wisdom*, and it will increase your wisdom enough so you will recognize and avoid the "advisor" who comes at you slinging jargon and investment "facts" hoping to fool you into thinking he knows anything.
I had first read this book at an Army post in 1969.
I read it and reread it many times to get the major points by G.M Loeb.
It opened my eyes to the most common sense, intelligent advice
about the stock market that has followed me through today.
to quote the book:
"It is absolutely futile to get results except to buying into anticipated
large gains. It is far better to let cash set idle than to invest just to
keep invested or for income. It fact it is really vital ........ one of the
widest differences between the successful professional and the
loss taking amateur."
I believe this book offers the best investment advice a 72 year old
has ever read.