Click on a thumbnail to go to Google Books.
Payback Time: Making Big Money Is the Best Revenge! (2010)
by Philip Town
No current Talk conversations about this book.
References to this work on external resources.
Wikipedia in English
Amazon.com Product Description (ISBN 0307461866, Hardcover)Don’t get mad, get even…
Phil Town’s first book, the #1 New York Times bestseller Rule #1, was a guide to stock trading for people who believe they lack the knowledge to trade. But because many people aren’t ready to go from mutual funds directly into trading without understanding investing—for the long term – he created Payback Time.
Too often, people see long-term investing as “mutual fund contributing” – otherwise known as “long-term hoping.” But the sad truth is that mutual fund investors are, to a stunning degree, pinning their hopes on an institution that is hopeless. It turns out that only 4% of fund managers consistently beat the S&P 500 index over the long term, which means that 96% of fund investors see a smaller return on their nest egg than a chimpanzee who simply buys stocks in the 500 biggest companies in America and watches what happens.
But it’s worse than that. The net effect of hitching your wagon to mutual funds is that over a lifetime they’ll fritter away as much 60% of your nest egg in fees. Once you understand how funds engineer this, you’ll rush to invest on your own.
Payback Time’s risk-free approach is called “stockpiling” and it’s how billionaires get rich in bad markets. It’s a set of rules for investing (not trading but investing) in the right businesses at the right time -- rules that will ensure you make the big money.
(retrieved from Amazon Mon, 30 Sep 2013 13:27:38 -0400)
From the bestselling author of "Rule #1" comes a perfectly timed book that shows why a beaten-down market represents the best opportunity to get rich, and it teaches readers how to finally beat the system that failed them.
Is this you?
Become a LibraryThing Author.