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Yes, You Can Be A Successful, Income Investor: Reaching for Yield in Today's Market Paperback – February 15, 2006
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Stein, an economist and part-time TV and movie personality, and DeMuth, an investment psychologist, make a good writing team. They combine a wealth of information, including hard data, graphs, and charts, with a clear and precise writing style that investment novices will appreciate. The book also contains practical tips and advice designed to help readers do their own research and know the questions to ask when dealing with investment professionals. --Shawn Carkonen --This text refers to an out of print or unavailable edition of this title.
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The idea behind this book is quite good. For the past two or three decades, all the talk around investing has been about growth stocks where you make your money by realizing capital gains. Before the age of double dividend taxation, people invested for the income provided by dividends. The present market for stocks is priced high in historical terms (see Stein and DeMuth's excellent "Yes, You Can Time the Market" to understand why this is true) and it is all too likely that a correction could provide losses instead of gains. In this book, the authors provide an approach to investing that provides a return by gaining dividend income from stocks and interest income from bonds while avoiding the risk of capital losses as much as possible.
Stein and DeMuth begin by talking about bonds. They provide an excellent primer and then talk about the various types of bonds, their risks, and their returns. Their discussion will help the reader understand that a higher return comes with increased risks. In effect, the higher return is a compensation for taking on that higher risk.Read more ›
Stein and DeMuth explain that most investment fads are not only unsuitable for older investors, but, worse, they just don't work. They make a point that many people who lost their money in the market meltdown a few years ago should have thought about: If an investment is too complicated to understand, then it should be avoided. In the end, there's no magic bullet; diversification and adherence to investment basics will pay off. The body of the book is devoted to explaining how to do that.
The book discusses various types of bonds, dividend-paying stocks, real estate investment trusts, and annuities. The one thing that is mentioned in every chapter is the basic principle that risk and reward are in balance; the only way to get a high reward is to take more risk. Striking the correct balance is, of course, an individual decision, and the most important part of the book is the discussion about how to combine various types of investments in in a way that balances risk and reward. There are numerous sample portfolios and many specific bond and stock funds suggested-- and also numerous cautions that investors need to do their own research before they buy anything. The authors provide a link to their website, which provides current information and links.
A bonus is that unlike many investment books, this one is very readable.Read more ›
If you read this book, or any other work by him, you'll realize that this guy gets it. He understands how to live a successful life and gives advice that's derived from his own experiences - not what he wishes he had done. Savings, investment, love, happiness - he tackles these issues with the realism that is so often slighted by self-proclaimed gurus who haven't got a clue.
My litmus test for authors of books such as these: Would this guy go broke if I nobody bought his book?
Ben Stein is doing all of us a great favor by sharing his knowledge, which has allowed him to live such a well-rounded and successful life.
Most Recent Customer Reviews
each and every book these guys write i buy. their writing is clear, simple and to the point. yes, there a lot of books on this stuff, but i think their presentation is perfect.Published on January 13, 2014 by lance ramrod
...these guys gave some dreadful advice. They recommended the bonds of Bear Stearns, Lehman and ABN Amro. All are worthless now.Published on August 17, 2010 by Siskbert
Excellent book ... short, easy to read with good illustrations. Would have liked an explanation as to how to select dividend stocks rather than using the recommended list since the... Read morePublished on July 13, 2008 by D. Skalko
Fine book on income investing. Good for all. Highly recommend this to all who are interested in increasing their income and preserving capital. Hats off to the authors.Published on January 18, 2008 by Anthony Salvatore
A good book but not as complete as Yes, You can still Retire Comfortably.
Does not fully elaborate on the risks of bonds in dealing with Financials (sub-prime) and Bond... Read more
This is an excellent book to teach you how to invest for the highest yield. I should add that Jeremy Siegel's books are also good for this type of investing. Read morePublished on May 5, 2007 by Michael
The authors do a great job breaking down an extremely sophisticated asset class so the everyman investor can optimize their returns while minimizing risk(Maximizing the Sharpe... Read morePublished on June 20, 2006 by Samuel R. Chisholm