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Martin

I like Finance books and True Crime stories. It's kind of funny, since some people may say that the two are one in the same.

NH | Member Since 2013

ratings
4
REVIEWS
3
FOLLOWING
0
FOLLOWERS
0
HELPFUL VOTES
2

  • The Richest Man in Babylon

    • UNABRIDGED (4 hrs and 4 mins)
    • By George S. Clason
    • Narrated By Grover Gardner
    Overall
    (193)
    Performance
    (179)
    Story
    (180)

    A modern day classic, The Richest Man in Babylon dispenses financial advice through a collection of parables set in ancient Babylon. These famous "Babylonian parables" offer an understanding of - and solution to - a lifetime's worth of personal financial problems, and hold the secrets to acquiring money, keeping money, and earning more money.

    Marcel says: "Nice story and worth a listen"
    ""My Favorite Finance Book of All Time!""
    Overall
    Performance
    Story
    Would you recommend this audiobook to a friend? If so, why?

    Yes. This book helped change my financial life. It's hard to imagine that a fictional work of stories and parables could be so inspirational and enlightening. I can't wait to read it again!


    Which character – as performed by Grover Gardner – was your favorite?

    Arkad was my favorite character. His lectures to men, teaching them the "seven cures for a lean purse" was so simple and true, that it escaped the men of his time, just as it escapes people today.


    What insight do you think you’ll apply from The Richest Man in Babylon?

    "Control thy Expenditures"
    I immediately began cutting my expenditures to equal 90% of my net income. Then allocated the remaining 10% to my investments. It was painstaking work, and took several months, but it was worth it. I can now see why the majority of people never achieve financial independence. It's because they continue to adjust their expenditures upward when their income rises, and cannot delay gratification until a future date.


    Any additional comments?

    Take lottery winners for example, 70% of lottery winners go broke. More than 50% of professional athletes go broke, and Hollywood actors and actresses who earn more than 10 million dollars per movie go bankrupt. As the wise Arkad said - "That what each of us calls our necessary expenses will always grow to equal our incomes unless we protest to the contrary". Arkad then goes on to say - "Don't confuse necessary expenses with your desires, that all men (and women) are burdened with more desires than they can gratify".
    I've come to realize that becoming wealthy, or financially independent, is not natural. It takes incredible discipline and self-control. It's not about how much money you make, but about how much money you keep.

    1 of 1 people found this review helpful
  • The Science of Getting Rich

    • UNABRIDGED (2 hrs and 19 mins)
    • By Wallace D. Wattles
    • Narrated By Brian Holsopple
    • Whispersync for Voice-ready
    Overall
    (5)
    Performance
    (4)
    Story
    (3)

    This audiobook is pragmatical, not philosophical; a practical manual, not a treatise upon theories. It is intended for the men and women whose most pressing need is for money; who wish to get rich first, and philosophize afterward. It is for those who have, so far, found neither the time, the means, nor the opportunity to go deeply into the study of metaphysics, but who want results and who are willing to take the conclusions of science as a basis for action, without going into all the processes by which those conclusions were reached.

    Martin says: ""A useless guide to becoming Rich""
    ""A useless guide to becoming Rich""
    Overall
    Performance
    Story
    This book wasn’t for you, but who do you think might enjoy it more?

    I'm not sure that anyone would get any practical, valuable advice on getting rich from reading this book. I don't even see how someone could better their position by reading this book. It keeps talking about doing things "in a certain way" and speaks in mysteries that are hard to comprehend. It has a religious, spiritual tone (and I have nothing against religion or spirituality) that is difficult to apply. I made myself listen to the whole thing so that I could at least be entitled to my opinion.


    0 of 0 people found this review helpful
  • Common Sense on Mutual Funds: Fully Updated 10th Anniversary Edition

    • UNABRIDGED (20 hrs and 53 mins)
    • By John C Bogle
    • Narrated By Scott Peterson
    Overall
    (19)
    Performance
    (16)
    Story
    (15)

    John Bogle - founder of the Vanguard Mutual Fund Group and creator of the first index mutual fund - is an industry pioneer. Over the years, he has single-handedly transformed the mutual fund business, and today, his vision continues to inspire investors .It has been over a decade since the original edition of Common Sense on Mutual Funds was first published. While much has changed during this time, the importance of investing and the issues addressed in the original edition of this book have not.

    Richard says: "This book not intended for audio format"
    ""A Classic Book on Investing""
    Overall
    Performance
    Story
    Would you listen to Common Sense on Mutual Funds again? Why?

    Yes. It may be the best practical book on equity investing ever written. Simple and precise, it lays out the case for passive investing in a way that will change your thinking about mutual funds forever.


    What other book might you compare Common Sense on Mutual Funds to and why?

    No other books really compare in content. Although there are parallels in "Fooled by Randomness", and many of Warren Buffet's books espouse the benefits of Indexing.


    Any additional comments?

    John Bogle may be the most influential and honest voice in the investment world. His creation of the world's first Index Fund (Vanguard Index 500) and the subsequent rejection of it by almost everyone, is a great example of how many new ideas are not initially seen for their greatness or truth. Standing the test of time, Bogle's Vanguard Index Funds have beaten the majority of professional (active) money managers. My biggest take-aways from this book are "don't look for the needle, buy the haystack", "reversion to the mean", "most untrained investors can beat well-trained investment professionals by investing in a low-cost index fund" and "active equity mutual funds take a significant portion of an investor's risk premium through fees and expenses, created by excessive portfolio turnover, taxes and 12-b1 fees". This book is a "must read" for anyone trying to build an investment portolio.

    1 of 1 people found this review helpful

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