The author's single point is that only fools believe they can time the market or consistently predict which stocks will perform well. Experts who do are just lucky and are usually expert only at selling their services (as they hyperactively trade your portfolio to maximize fees). When you invest in index funds containing domestic and international stocks or bonds, your fees are low or nonexistent, your risk is low, and the historical earnings are far from shabby. Solin's message is helped immensely by the businesslike, easy-to-hear narration of Craig Wollman, Though Solin recognizes the skill of stock-picking geniuses like Peter Lynch and Warren Buffett, his argument is that most individual investing experts are not that smart and are not to be trusted if they say they are.
This audiobook 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 five percent 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).
Solin will tell you how to avoid the biggest mistakes most investors make, including:
Best of all, the vast majority of investors can implement Solin's plan in 90 minutes or less per year, without any broker or adviser.
©2006 Daniel R. Solin; (P)2006 HarperCollins Publishers
"Solin does a great job of keeping his advice simple." (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)
Watch CNBC for a couple hours instead. This might have been news 20 years ago, but come on, stuff like don't pay high commission broker because he does not have your best interest at heart. Really? Diversify and rebalance your portfolio. What a turd.
I'm a newcomer to investing and especially to investment books. But the little stock market investing I've done has been lackluster, and Solin's book offers some compelling evidence why. I'd recommend getting a print or ebook copy, as there are some numbers and symbols that would be easier to take in visually.
Still, overall the book is quite interesting, informative and an easy listen. I'd definitely recommend it, except that it'll take me some time to put this information to the test!
The reader is just a little over emphatic at times, but generally decent. There are some puzzling repeat references to Vanguard, which make me wonder if Solin is really just selling Vanguard with this book. However he adds in other examples too in the "nuts and bolts" of part 4.
Also -- the audiobook gives an incorrect URL for the Asset Allocation Questionnaire on the author's website. The correct URL for the site is http://www.smartestinvestmentbook.com.
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