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The Little Book that Saves Your Assets: What the Rich Do to Stay Wealthy in Up and Down Markets (Little Books. Big Profits) Hardcover – August 4, 2008

4.1 out of 5 stars 31 customer reviews

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Editorial Reviews

Review

"My favorite is The Little Book that Saves your Assets: What the Rich Do to Stay Wealthy in Up and Down Markets...Darst says to thrive financially today you must practice asset allocation, compiling a financial portfolio with assets that make money when the economy is doing well, but also including assets that make money when the economy slows down."
- Susan Rucci, BookPage, January 2009 Issue

"This 208-page, coat-pocket-size book also comments on why people often muff planning their financial futures. "We take eight weeks to buy a new necktie or dress but then make investment decisions that affect our entire life and net worth after an eight-minute phone conversation," the author writes. To help his readers avoid such pitfalls, he includes some probing questions to ask a prospective investment adviser."–WSJ

The timing couldn't be better . . . with the markets entering bear territory and anxiety over the economy deepening across the country. But Darst's lessons are timeless: the importance of diversification, matching assets to goals and not "confusing a bull market for brains." He imparts them and quite a bit more in a highly readable little book that would make a great present not only for first-time clients and prospects but junior planners as well.–Financial Planning

From the Inside Flap

"Insightful, tidy, essential, provocative, and witty . . ."
—Jerry Goodman, a.k.a Adam Smith,author of The Money Game and Supermoney

The markets seem so crazy these days that an investor—and we're all investors now with our 401(k)s, retirements, and college educations to finance—hardly knows where to turn. While we struggle, the affluent seem to do just fine. How do they do it? Two words: asset allocation. No one knows this better than David Darst, one of the world's foremost and visionary experts on what it takes to make the most with your money.

In The Little Book That Saves Your Assets, Darst distills his immense knowledge into a gem of a guide that anyone can use. Based on a lifetime of clear thinking and innovative research borne out of decades of real-world experience, this book presents the art and science of asset allocation in a crisp, down-to-earth fashion. It's like having your own chief investment strategist on call, just as the wealthy have, to guide you through the turbulent waters of the global financial markets.

Page by page, Darst describes the practical principles behind the process of managing your money in today's challenging investment climate and stresses the substantial investment returns that the right mix of stocks, bonds, cash, gold, real estate, commodities, and other assets can bring to your portfolio. He also explains the critical concept of correlation and how to spread your investments among uncorrelated asset classes to enhance returns and reduce the risks of long-term investing.

With the burden of investment responsibility shifted squarely onto the shoulders of individuals, positioning your portfolio for optimal long-term performance has taken on even greater meaning. Bottom line: if you don't manage your investments in a professional fashion, you'll suffer for it. With The Little Book That Saves Your Assets as your guide, Darst will put you on a path that will help you maximize your returns and achieve your life goals. Whether you decide to do it on your own or with the help of a trusted advisor, you need to understand the ins and outs of asset allocation, and this book will help you learn what the wealthy have long known—that 80% of investment returns are found to come from correct asset allocation.

Wealthy individuals and financial institutions have successfully used the asset allocation strategies outlined by David Darst to protect and grow their assets. Let The Little Book That Saves Your Assets show you how to do this too.

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Product Details

  • Series: Little Books. Big Profits (Book 19)
  • Hardcover: 240 pages
  • Publisher: Wiley; 1 edition (August 4, 2008)
  • Language: English
  • ISBN-10: 0470250046
  • ISBN-13: 978-0470250044
  • Product Dimensions: 5.3 x 0.9 x 6.9 inches
  • Shipping Weight: 9.9 ounces
  • Average Customer Review: 4.1 out of 5 stars  See all reviews (31 customer reviews)
  • Amazon Best Sellers Rank: #992,123 in Books (See Top 100 in Books)

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Customer Reviews

Top Customer Reviews

By B. Zimmerman on September 24, 2008
Format: Hardcover
Mr. Darst must have had all of his buddies write in with 5-star reviews. I bought this book based on the subject and reviews, but it didn't meet my expectations. The title and description imply he will share HOW to balance your portfolio to weather the market ups and downs. His magic solution...allocate your investment $ to various asset classes which have a low correlation to each other (i.e. don't respond similarly to interest rates and economic conditions). How much to allocate to what classes depends on your goals and situation. DUHH! Rather than following through with real examples of asset allocation strategies which have worked for real people, he leaves you in the dark and tells you to hire a financial advisor.
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Format: Hardcover
Save your money. This book touts asset allocation but does not provide any practical advice on how to develop or implement a plan. The book asks many questions but provides absolutely no answers!
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Format: Hardcover Verified Purchase
This latest installment in publisher John Wiley & Sons' "Little Book" series of investment books, could be the most important and relevant one for a mainstream investor's portfolio, especially in these trying times.

Serial investment Author David Darst brings an life-time of professional, world-class blue-chip investment expertise to bear in this concise little tome.

A good example of this is David's "Objective-Based Asset Allocation" discussion in Chapter four. In pragmatic and humorous language, he explains the nuts and bolts of determining the most important part of any investment portfolio, the Asset Allocation, that's best suited to the personal needs of the investor.

The book is helpful for both novice and experienced investors, bringing together a medley of time-tested investment principles in a really fresh way.

What's remarkable is that David manages to distill the institutional-grade investment allocation advice from his earlier, larger books, into clear investment mantras for the individual.

Highly Recommended.
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Format: Hardcover Verified Purchase
Asset allocation is an art. David Darst is the master. This entertaining and readable little book enables individual investors to do what the pros do, build and save their assets. This book is a must read for any investor who is serious about seeking the best risk-adjusted return on a portfolio. It is succinctly written, incorporates the latest insights from academic research, and is accessible to laypeople as well as being relevant to investment professionals. Owning this book is like having your own chief investment strategist on call, just as the wealthy have, to guide you through the turbulent waters of the global financial markets. Darst stresses the substantial investment returns that the right mix of cash, gold, stocks, bonds, real estates, commodities, and other assets can bring to your portfolio. He also explains how to spread your investments among uncorrelated asset classes to enhance returns and reduce the risk of long term investing. In what follows I shall highlight the 7 salient features of the book. They are: (1). This book will help you learn what the wealthy have long known - that 80% of investment returns are found to come from correct asset allocation; (2). Strategic Asset Allocation is where you set long term percentage weightings for the assets in your portfolio, and maintain the mix for a long period of time; (3). Tactical Asset Allocation takes a more responsive view toward your portfolio so that the asset mix is adjusted to gain benefits from underlying markets and economic trends; (4). Your goals are your Constitution; your objectives are your Bill of Rights; (5). We need to focus on the big picture whilst being mindful of important emerging and changing trends (6).Read more ›
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Format: Hardcover
Financial advice with a smile!
I found this informative and easy to understand.
Great gift for anyone who is interested in personal finances.
I ordered a couple of copies as graduation presents.
Who is Uncle Frank?
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Format: Hardcover
When it comes to asset allocation, the advice hardly stands as the most radical ever given. If anyone expects something with a jingo, something trendy, something that even rhymes, go to another book and spare yourself the effort of reading this one.

That one should diversify hardly began with Mr. Darst. Benjamin Graham, James Boggle of Vangard Investments, Andrew Tobias, author of "The Only Investment Guide You Will Ever Need," and too many financial advisors is to count all chant the mantra of diversification. Although he contrasts diversification with "di'worse'ifcation," even Peter Lynch joins the crowd extolling diversification. That one should diversify is hardly new advice. Some might feel it such standard advice that the purchase of this book tells them nothing new. "Know thyself" also ranks amongst the oldest of advice which is millennia old.

I personally find this book interesting not for its checklists, not for a multipoint detailed plan, but rather I find it interesting for its attitude, timing, and that time generally proved right the advice by what happened after its initial publication in April, 2008. Please remember that for book to be published in 2008, much of it had to be written over the prior year before its publication. In my opinion, that makes the book even more prescient. He advocated not focusing on bubbles (such as real estate, even specifically mentioned in the book). I find it interesting that even though the book does not focus on detailed specific checklists, he has a history of avoiding bubbles and emphasizing diversification.

The timing of this advice, diversify to avoid crashes, could scarcely have been better.
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