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The Single Best Investment: Creating Wealth with Dividend Growth Hardcover – April 1, 2006

4.4 out of 5 stars 68 customer reviews

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  • The Single Best Investment: Creating Wealth with Dividend Growth
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  • The Ultimate Dividend Playbook: Income, Insight and Independence for Today's Investor
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  • Dividends Still Don't Lie: The Truth About Investing in Blue Chip Stocks and Winning in the Stock Market
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Editorial Reviews

About the Author

Lowell Miller is the author of The Momentum-Gap Method and The Perfect Investment and is the president of Miller/Howard Investments, Inc. He is frequently quoted in The Wall Street Journal and Barron's, has written for The New York Times Magazine, and appears on television business shows. He lives in Woodstock, New York.
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Product Details

  • Hardcover: 265 pages
  • Publisher: Print Project; 2nd edition (April 1, 2006)
  • Language: English
  • ISBN-10: 0965175081
  • ISBN-13: 978-0965175081
  • Product Dimensions: 6 x 1 x 9 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (68 customer reviews)
  • Amazon Best Sellers Rank: #138,940 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Hardcover
this is a great book. O'Higgin's book on buying the Dogs of the Dow was a good book, and it made sense: buy quality when it is cheap. Well, Miller's book makes sense, too. In fact, it makes so much sense, that you wonder "why, of course, that's the way to make money". This book reminds you how important dividends are (some 70% of stocks' returns over the past 50 years), and how significant compounding can be. ("yeah, yeah, yeah" you say, but how about 20+% annual return per year on an investment in a solid, low risk company? Miller tells you how.) Though this is not the kind of book that appeals to day-traders, or "hot stock" investors, it is the kind of book that should appeal to smart investors.
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Format: Hardcover Verified Purchase
Investors may use a passive approach, employing index funds a la Jack Bogle (Common Sense on Mutual Funds). If an investor wants a more active approach, however, the dividend-based approach in this book offers one of the best and safest strategies available. Investing in undervalued large companies that not only consistently pay dividends but that increase them every year sounds like a boring approach -- and it is. No following trends, no guessing about market movements. Companies that consistently increase dividends tend to grow faster and with less volatility than companies that either do not pay dividends or pay them but don't increase them. Miller's book explains this approach very well and in terms that almost anyone can understand.

Readers should note, however, that the book is ultimately a come-on for Miller's firm's management services. When the book gets around to focusing on exactly how to choose the right stocks, everything gets a little fuzzy. To paraphrase, "Well, sometimes we look here, and sometimes there, and sometimes over there..." This makes the book incomplete. The first two thirds is fabulous, the last part insufficient. Read the book, but look elsewhere for how to actually choose your stocks.
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By A Customer on June 24, 1999
Format: Hardcover
This is an important but easy-to read book that argues that the single best investment is in stocks with rising dividends. It hits a layer of real bedrock, providing a long-term fundamental perspective that is a great antidote to the information overload that is typical of investment information today. Applying this approach is a low risk way to create a "compounding machine" that relentlessly grinds out income and capital appreciation over the long-term. It is a book both for both beginning as well as experienced investors, and is well-written and organized with excellent summaries at the end of each chapter.
This is a really good book!
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Format: Hardcover
I am a great fan of passive index funds. I also hate the idea of owning bonds and have toyed with the idea of replacing bonds in my asset allocation with high dividend stocks from high quality companies. Historically, high dividend stocks from high quality companies have declined less than the S&P 500 in Bear Markets. The current 15% tax rate on dividends is also more favorable to holding high dividend paying stocks in taxable accounts.

Miller hates bonds as much as I do......and advocates a 100% stock portfolio several times in the book.

Miller contends that an investor can construct a 100% stock portfolio that has lower risk and a higher return than a conventional 60:40 stock and bond portfolio.

Miller repeats the age old saying that "Dividends Don't Lie".......and we recently learned about how many managements can lie ala Enron and WorldCom. Miller calls the period 1990-2003 the Dividend Dark Ages where companies reduced the amounts of dividends paid and focused on increase stock prices.......including creative accounting....so executives stock options would be worth more to them.

Miller gives specific guidelines on how to select high quality companies with great prospects for long term increases in dividend growth.

Although Miller is more an active versus a passive investor, his technicques are likely to yield returns close to index fund returns.

Over-all an interesting read and his suggestion to replace a 60:40 conventional stock and bond portfolio with 100% dividend paying stocks is great food for thought.

I would suggest companion books to supplement this book including:
...Read more ›
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By A Customer on June 8, 1999
Format: Hardcover
As a business major I've read a countless number of dry books on the subjects of stock picking and market analysis, but this book breaks that mold. It is an easy read that presents a simple plan for investing in growing stocks with rising dividends. Your returns will compound over time through market highs and lows. Miller suggests you follow his investment steps and then forget about them, ignoring the markets' daily fluctuations and the contradicting theories of analysts. Excellent advice at a time when there is too much information being made available to too many people all of the time. This book is a must for all serious investors, it explains how to successfully achieve the profits we all desire without the risks.
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