- Explore more great deals on thousands of titles in our Deals in Books store.
Enter your mobile number or email address below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
To get the free app, enter your mobile phone number.
The Smartest Investment Book You'll Ever Read: The Simple, Stress-Free Way to Reach Your Investment Goals Hardcover – Bargain Price, November 7, 2006
|New from||Used from|
The Amazon Book Review
Author interviews, book reviews, editors picks, and more. Read it now
Frequently bought together
Customers who bought this item also bought
Special offers and product promotions
"It's so simple. It almost seems counterintuitive," Solin said. And after a 26-minute conversation with Solin, Metro--now armed with a new investment strategy-actually agreed. -- Metro New York, November 6, 2006
A no-nonsense, no-fuss guide for investors of all experience levels and financial resources. -- Kirkus Reviews, November 1, 2006
I just finished a great little book (I say little because it's a bit smaller than a regular book in size and is only 150 pages), but it's full of great investment advice, principles, data, facts, studies --you name it. The book is The Smartest Investment Book You'll Ever Read: The Simple, Stress-Free Way to Reach Your Investment Goals. -- FreeMoneyFinance.com
Is this, as the title claims, the smartest investment book you'll ever read? ..... I can say it's the smartest so far. -- ConsumerismCommentary.com
It's tightly written, always on-point and not weighed down with anecdotes and aphorisms, and could be just the instruction book that you were looking for, but never received with that thick pension package from your company's HR department. -- Miami Herald, November 27, 2006
Solin does a great job of keeping his advice simple; his guide can be read...in a couple of hours. -- Library Journal
[Solin's] recommendations are sound and simple to put into effect... it is clear he is on to something. -- The New York Times, October 8, 2006
About the Author
Daniel R. Solin is a leading securities arbitration lawyer who has committed himself to recovering millions of dollars on behalf of clients who were misled by unprincipled brokers and financial advisors. He is a principal in Academic Wealth Management, LLC, and a Registered Investment Advisor. The author of Does Your Broker Owe You Money?, Solin has been interviewed on many radio programs, including USA, CBS, ABC, and on a number of regional NPR programs. Formerly the host of his own financial cable television show in Southwest Florida, he is a sought after speaker for groups of investment professionals, lawyers, and accountants.
Top customer reviews
Mr. Solin carefully points out that while watching the fast talking "in the moment," personalities on these shows, one gets the sense of urgency. As if we are watching life go by at "jet speed!" This type of "huckster communication," is rather popular with those that feel a "need for speed."
Mr. Solin handily points to more solid, sensible investing practices that are clearly designed to take advantage of time-based investments. Thus freeing one up to pursue their career while investing for the future, which, as I can verify at this point in my life, comes without much warning. One day you are 18, with the world ahead of you and then, you wake up, age 63 and people pass you by on the business street, with little fanfare.
No longer consider a "threat," you are patted on the head and sent away. Consider what Mr. Solin so smartly expresses in each chapter, then begin your investment career on good footing with his advice wisely implemented. You will thank him 30 years from now, sipping your morning coffee and reading your digital newspaper by the pool.
Solin's book has four sections although I feel like there were really two main ideas. One, that index funds are a more solid investment strategy than stocks or mutual funds because you cannot, nor any "professionals," beat the market. And Two, how to invest in the index funds (the fun part.) Solin provides solid research that shows results of many studys. All evidence points towards using index funds. "Financial Experts" and Wall Street have spent lots and lots of money on marketing themselves. They pitch themselves as having a financial expertise that helps them predict the market. This is false. Marketing dollars have also gone into telling the public that mutual funds will provide a great return because of the diversity and that they are being maintained by a "financial expert" that can beat the market with their expertise. This is also false.
The Truth: You can make just as much or more money than any "financial expert" and you can do this by avoiding mutual funds and investing in index funds.
There are just a couple differences between index funds and mutual funds, but the differences make a huge difference. A mutual fund is managed by a person, this person is supposed to be able to predict what stocks and bonds will rise and fall, so they buy and sell to appropriately position the fund to make high returns... you pay a premium expense to have this "luxury." An index fund is managed by a computer and the computer buys and sells stocks to position the fund in line with the right ratio of the market. This means the index fund will always earn the market average. Now for the great news and another difference.... Mutual funds earn less than the market average 95% of the time. So you have a 5% chance to have a mutual fund that does better than a index fund. Additionally, many mutual funds have an expense ratio of about 1.4% whereas an index fund has an average expense ratio of .3%. So if that mutual fund does beat the market by a whole percent, which is very unlikely to begin with (5%), you would make more money if you had invested in the index fund. Why would you pay a premium to lose money? Great question... You shouldn't.
The book also analyzes the differences between the Smart Investor and the Hyperactive Investor. The Hyperactive investor is the "financial expert"- They spend all day every day trying to beat the market. This is very unlikely, very few individuals have been able to beat the market for an extended period of time. One of these people is Warren Buffet and it is unlikely that he is your financial adviser. The Smart Investor understands that you can not beat the market and also understands that in the long-term, the market makes great returns (9-12%). So this Smart Investor puts his money into index fund which pay the market average. Being a Hyperactive Investor is a great way to spend a lot of time getting no where... I am not a fan.
Can you do it yourself? Yes!
I am confident saying that anyone investing less than one million dollars can do so themselves, with very little oversight (checking in every 6 months or so). Now onto the what, how, and where... I am going to spell it out for you so read carefully. There is a rule of thumb for the ratio someone should use when they are going to be investing. Take your age and subtract it from 100 and that is what you invest in stocks vs. bonds. So if you are 30 years old you will invest 70% in stocks and 30% in bonds. I will use a 30 year old for the example below and we will use what Solin considers the Medium to High risk investor.
Here is your how-to... Write it down if you have to...
First go to either Fidelity or Vanguard and create an account ([...] or [...]) Both companies handle taxable or tax-favored accounts (IRAs and Roths) and both offer funds that have as low as a $3,000 minimum investment. Once you have your account use your ratio and purchase accordingly into these funds
30 year old =
52% FSTMX <---(This is the fund that you will purchase)- This is a domestic stock fund
18% FSIIX- This is a international stock fund
30% FBIDX- This is a bond fund
52% VTSMX- This is a domestic stock fund
18% VGTSX- This is a international stock fund
30% VBMFX- This is a bond fund
The book also goes into investing in ETFs (Exchange Trade Funds) but I don't like ETFs. People invest in these if they want to own a portion in a commodity. If you are going to buy into a commodity, buy into gold and silver, hedging inflation, and don't buy the ETF. Buy the real thing off [...].
Well I just gave you a very powerful road map to great fortunes... I highly recommend this book. It's a very easy read and has great advice.
Most recent customer reviews
What is the point?Read more