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The Only Investment Guide You'll Ever Need Paperback – January 5, 2011
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Top Customer Reviews
Inspiration is a rare and precious gift. Andrew Tobias has been a blessing to me and my family and he doesn't even know us! If you are looking for an overnight path to riches this book will not help you. But if you can formulate a plan and stick to it, buy this book. It changed our lives for the better!
I promptly bought my own copy and have been reading and highlighting since. Tobias is a gifted writer with a knack for distilling complicated financial topics down to simple explanations and recommendations, without talking down to his readers. He steers people away from investments they should avoid (commodities, collections -- unless you're an "expert") and recognizes the time/reward trade-offs of financial and investment decision-making. I found his advice to not obsess over the differences in returns at most banks (pennies -- why bother?) and to not flog yourself if you forget to write down every last expense refreshing. He's succinct, funny, and disarmingly self-deprecating.
Tobias doesn't try to "dazzle with detail" -- the book is appropriately detailed to make the case for simplified, low-cost investing, but not so burdened by charts and graphs that you grow quickly disinterested. He shows great respect for his readers. I'm going to get this book for several young people in my life who are just starting out.
I've often looked at the bookstore for other investment guidebooks, and read a fair number of them, but this book is by far the best. This book is at least two books in one. First, Tobias tells you some common sense things to do before sinking thousands in stocks or other investments. I loved this section of the book, and have gone back to it to again and again for clarity in monthly money management. The rest of the book goes through the menu of investment options and shines a bright light on each one. I learned from this section of the book, and ultimately concluded that Vanguard index funds were the best option for me. Once someone clearly explains to you that it is irrational to try to pick individual stocks that beat the market, you can't help but agree. Sure it is a lot more fun to pick stocks (and Tobias explains this side of it too), but it just can't really be a rational choice for the average individual investor that does the honest yearly math.
The only minor problem I have is that Tobias seems to dismiss bond funds. I think Vanguard Wellington (VWELX) and Wellesley (VWINX) are both really "index" funds that include bonds (VWINX about 2/3 bonds and VWELX about 1/3 bonds), though they don't fit the definition of an index fund. Both should be mentioned in this book because they are solid performers, especially during volatile stock swings. At the time of writing this, VWINX is up 7.39% YTD compared to the Total Stock Index (VTSMX) down YTD. VWINX also has a mere 0.28% expense ratio (0.21 if you've got 50K for Admiral shares) -- for a single fund with stock exposure, few performed better this past year than VWINX (full disclosure: today I only own VTIAX and VFIAX).Read more ›
Most Recent Customer Reviews
Simply the best book on investments for the small, individual investor. It gives good reasons for keeping your investment strategy simple and explains why in clear easy to... Read morePublished 1 month ago by Laconic61
I think this is one of the absolute best books on personal finance for beginners. It's not only informative, but entertaining as well, since Tobias is such a witty writer. Read morePublished 1 month ago by West Coast Swinger
Latest edition is just as informative and humorous as the one I read about 30 years ago. Taking his advice all these decades was the smartest money decision I could have made.Published 2 months ago by Mark A. Smith
I am a fairly new investor and this book was very helpful and informative. I think it went to much in depth on purchasing real estate, but I guess that couldbe helpful to some.Published 4 months ago by Lynn Carver
Had to purchase this book as part of a course I'm taking in college. Learned a few good tips on how to save money which I have started to use going forward. Read morePublished 6 months ago by Hari Eswaran
Well written for the layman with little to no investment background.Published 6 months ago by Terry A. Grinaker