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Smartest Investment Book Youll Ever Read…
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Smartest Investment Book Youll Ever Read Canadian Edition: The Simple… (edition 2007)

by Daniel R Solin (Author)

MembersReviewsPopularityAverage ratingConversations
1393149,176 (3.53)None
This book will change the way you invest. . .and it's about time! If your main concern is getting the most out of your money without sacrificing financial security, Dan Solin tells you how to take control of your finances and end up in the top 5% of all professionally managed money. Solin provides a clear, simple, easy-to-follow road map that will show you exactly how your assets should be invested, using trusted, brand-name funds. He explains how to assess risk and how to allocate assets so that your portfolio is tailored precisely for you. Most important, Solin's four-step plan will give you a portfolio that consistently outperforms the professionals (without the fees and without the worry.) You can avoid the biggest mistakes most investors make: Falling for "dumb money" solutions that give your hard-earned cash over to hyperactive brokers and investment advisors. Buying into the hype that stock picking and market timing are anything but a fool's errand. Giving too much credence to the media and self-styled gurus who peddle "financial pornography." Best of all, the vast majority of investors can implement Solin's plan in ninety minutes or less per year, without any broker or adviser. Read by Craig Wollman.… (more)
Member:lukaz08
Title:Smartest Investment Book Youll Ever Read Canadian Edition: The Simple Stress Free Way To Reach Your Investment Goals
Authors:Daniel R Solin (Author)
Info:Viking (2007), 208 pages
Collections:Your library
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The Smartest Investment Book You'll Ever Read: The Simple, Stress-Free Way to Reach Your Investment Goals by Daniel R. Solin

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If you're not familiar with "The Smartest [...] Book You'll Ever Read" series, they're short books -- with incredibly short chapters -- that make a lot of basic assumptions about how to deal with major financial life issues. They generally have a lot of good information in them, but readers should know that one plan doesn't always fit everyone.

In this investment book, index funds are the answer. Index funds make a lot of sense for a lot of people, but they're boring -- doesn't everyone want to beat the market and make loads of money? Very methodically (and repetitively), author Daniel Solin argues that you'd have better luck winning the lottery than in picking stock winners over a long period of time. Instead, he states you should have a mix of stock and bond indexes, and even makes a few exact suggestions for those who want to invest with Vanguard, Fidelity, or T Rowe Price.

While most of the advice is valid (I'm an index fund guy, too), sometimes the writing comes off as a little condescending. For example, he introduces "standard deviation": "I look at standard deviation in investing the way I look at the results of my blood tests. I don't really need to understand how the lab arrived at the numbers, but I do need to know what is within normal range." (Although standard deviation is then discussed in another chapter, it is never defined well.) That's fine for absolute beginners, but it really doesn't give them a solid foundation from which to ask harder questions. Another area the book is generally silent on is taxable versus pre-tax -- traditional IRAs and 401(k)s -- investment strategies. (The book generally assumes one is investing in a 401(k).)

If you're an absolute beginner -- or someone in financial disarray with at least a decade before retirement -- this book offers some valuable tips. But even if you have minimal investing experience, you probably won't find much you don't already know.

---------------------------------------
LT Haiku:

No need to learn charts
or financial wizardry:
Buy some index funds! ( )
1 vote legallypuzzled | Aug 4, 2013 |
Safe to skip if you have heard the gospel according to Bogle and also have heard of asset allocation (if you haven't, go read about it, of course.) ( )
  sprite | May 3, 2013 |
I picked this up because I was looking for a book that would break down exactly how brokers like Etrade or Schwab or any brokerage house makes money. This book clearly explained that and more. Very understandable and a good education for the reader on the finance industry. I recommend this book for anyone wondering about the best way to invest retirement money whether it be $5,000 or $500,000. ( )
  California_Tim | Mar 31, 2013 |
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There is a chimpanzee in a remote region of Sierra Leone that routinely performs open-heart surgery.
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Some "investment" television shows are little more than tabloid journalism. Some self-styled investment gurus have resorted to behavior that can only be described as maniacal. This may be entertaining to some, but it should not be confused with any recognized principles of finance that might assist investors in making intelligent decisions about managing their assets.
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This book will change the way you invest. . .and it's about time! If your main concern is getting the most out of your money without sacrificing financial security, Dan Solin tells you how to take control of your finances and end up in the top 5% of all professionally managed money. Solin provides a clear, simple, easy-to-follow road map that will show you exactly how your assets should be invested, using trusted, brand-name funds. He explains how to assess risk and how to allocate assets so that your portfolio is tailored precisely for you. Most important, Solin's four-step plan will give you a portfolio that consistently outperforms the professionals (without the fees and without the worry.) You can avoid the biggest mistakes most investors make: Falling for "dumb money" solutions that give your hard-earned cash over to hyperactive brokers and investment advisors. Buying into the hype that stock picking and market timing are anything but a fool's errand. Giving too much credence to the media and self-styled gurus who peddle "financial pornography." Best of all, the vast majority of investors can implement Solin's plan in ninety minutes or less per year, without any broker or adviser. Read by Craig Wollman.

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No need to learn charts

or financial wizardry:

Buy some index funds!

(legallypuzzled)

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