Amazon.com
Personal-finance guru Andrew Tobias slams online trading and praises the Roth IRA in his newly revised The Only Investment Guide You'll Ever Need. This investment bible remains as stimulating and meaningful as it was when it was first published 20 years ago. It's packed with ideas about stocks, living beneath your means, tax planning, retirement, and just about everything else in the financial world. And all of it is presented with Tobias's trademark brevity and ingenuity.
Last revised in 1995, the guide takes aim at a new game in town--online trading. By all means, use the Internet for buying a car or for research, Tobias says. But avoid cyberspace brokers, he says. Point and click enough and you will get slaughtered by commissions, spreads, taxes, and human nature. "It's so easy to click 'OK' a few times and make a $10,000 bet," he warns. "Look how mesmerized we become on a stool in front of a slot machine. Internet investing positively teases you to play." Tobias's favorite new entry is the Roth IRA, which allows you to withdraw your money tax-free when you retire. It's far better than a traditional IRA, he asserts. "Save yourself the trouble of agonizing over the choice and go with the Roth IRA," he writes. "Forget the worksheets." Sometimes caustic and always a skeptic, Tobias believes readers can shape their own financial futures. Just stick to the basics, he says. "By and large, you should manage your own money, via no-load mutual funds," he writes. "No one is going to care about it as much as you." It doesn't matter if it's 1978, 1998, or even 2008. The Only Investment Guide You'll Ever Need still is exactly that. Some things never change. --Dan Ring
Book Description
For more than twenty-five years, The Only Investment Guide You'll Ever Need has been America's favorite finance guide, winning the allegiance of more than a million readers across the country. Now this indispensable book has been fully revised and updated-covering all the new tax laws-and reorganized with a new user-friendly design. Concise, witty, and truly understandable, Andrew Tobias shows you how to use your money to your best advantage-no matter how much or how little you have.
o How to spend smarter-and save $1,000 or more
o When to invest in stocks, and how
o The ins and outs of investing on the Internet
o Tax strategies, from tuition to retirement
o Whom-if anyone-you can trust to manage your money
and much, much more
How to spend smarter--and save $1,000 or more
When to invest in stocks, and how
The ins and outs of investing on the Internet
Tax strategies, from tuition to retirement
The basics of life insurance
Who--if anyone--you can trust to manage your money
The inside skinny on annuities, real estate, and Social Security
and much, much more
Customer Reviews:
Very Conservative Approach.......2007-10-05
A better title for this book would be " The Only Really, Really Conservative Investment Guide You'll Ever Need." In the author's preface. Mr Tobias marvels how the world has changed since the original publication in 1978. The Guide has been updated frequently so that you will not find any outdated references. In fact, you will be referred to numerous websites in the course of the author's discussions.
Mr Tobias is an advocate of "minimal risk" which is to say he thinks the majority of us would be better off saving rather than trying to get rich by investing. Well there is nothing new about that and it is presented in a flippant and I thought condescending tone.
So the first half of the book is very conservative advice although why he advocates Timber as an investment is beyond me. I think the same argument could be made for soybeans or for sod.
The second half is an excellent primer on the stock market which I feel
is worth the price of the Guide alone. I would recommend this book for anyone looking for a basic investment guide with the understanding that it is not a get rich quick reference.
Good updates.......2007-08-07
We were very pleased with the updates Mr. Tobias has made to his book. It lives up to its title. Well worth the price.
Ok.......2007-08-06
The book is decent but "A random walk down wall street" contains the same information this book does (and more). Random Walk is also written better with more details.
Surprisingly entertaining.......2007-07-19
I never read this kind of book, but since it was a gift from a family member, I thought I should skim it so as to appear to have taken it seriously. Much to my surprise, I ended up reading every word and ultimately recommending it to everyone I know. Not only is it very entertaining, but it offers extremely sound advice based on what should be common sense but is in fact sadly uncommon knowledge. I think it is the perfect first investment book for everyone, and for most people the seemingly overstated claim of the title is actually quite accurate.
An Investment Book for Coupon Clippers.......2007-07-03
If you open The Only Investment Guide You'll Ever Need, by Andrew Tobias, you will see a quote from the Washington Star that reads:
"A good primer for anyone who doesn't want to die poor."
If any succinct sentence clearly expresses my thoughts about The Only Investment Guide You'll Ever Need (TOIGYEN), it is that one. Tobias offers a prudent plan: be frugal, save and invest conservatively. This plan will undoubtedly protect the majority of people from losing their hard earned savings, thus the reference to prudence. Unfortunately I don't think most of us have prudent dreams, and that probably includes Tobias, based on some of his examples of less conservative investments in which he has partcipated. We, like Tobias, sometimes find ourselves drawn to investments that, with some of our own brainpower and personal time, offer the opportunity to squeeze a little more blood out of the financial turnip.
TOIGYEN is focused on how to save money and hold onto it. His advice with regard to how to make money is simply to let the market do the work for you. If you are patient enough and your dreams are reasonable, this just might be a good strategy for you. In other words, if you clip coupons, this is the investment book for you. Tobias shows how you can actually make a 50 percent return just by buying a particular item in bulk (in his example, a case of wine). This example shows an intriguing and creative way to look at some of your everyday purchases and the time value of money. However, when I read it, I couldn't help feeling the same as when my wife comes home with shopping bags and announces, "Honey, come see how much money I saved us." The question in the back of my mind is always: are you buying it because you really need it (and will use it) or because it's on sale (or offered with a bulk discount).
In case you couldn't tell, I'm not a coupon clipper. I chuckle when the grocery store clerk tells me that with my receipt I can save $.10/gallon and wonder how many people actually go out of their way to save that $1.50 to $2.00 on a tank of gas (provided they were lucky enough to be at the grocery store on the day their tank was completely empty). All that is to say that my goals are not achieved if I spend 30 years conservatively (and detachedly) investing and saving. Perhaps that explains my passion for investments in tangible assets such as real estate and businesses, things that offer a certain level of control and flexibility (activity) as opposed to passivity. (If you are looking for information on those kinds of investments, you won't find them in this book)
Regardless of your coupon-clipping proclivity, this book has something to offer a multitude of investors. For new investors, and those with a small amount of money, Tobias offers a simple plan that, if followed, can provide an easy-to-manage path to more long term financial security. For active investors in a market full of speculative fever, TOIGYEN is an aspirin and a damp cloth.
Jeremy Ames, Executive Editor
What this book does:
* Give a brief overview of most stock and financial derivative investment options
* Warn against taking your financial advice from those who stand to benefit from your decision
* Lay a foundation for long term investing: in the short term, the only guy who makes money is the broker (that goes for stocks or real estate)
* Offer some examples about how to teach your kids the value of money and investing
* Debunk some of the marketing gimmicks of financial services products (i.e. life insurance and annuities)
What this book doesn't do:
* Give instruction on how to trade some of your time for better returns (in fact Tobias' belief is that no one can consistently beat the market)
* Cover a range of alternative, non-stock investments (other than basic rental real estate, timber and oil & gas)
Book Description
Investment professional Larry E. Swedroe describes the crucial difference between "active" and "passive" mutual funds, and tells you how you can win the investment game through long-term investments in such indexes as the Samp;P 500 instead of through the active buying and selling of stocks. A revised and updated edition of an investment classic, The Only Guide to a Winning Investment Strategy You'll Ever Need remains clear, understandable, and effective. This edition contains a new chapter comparing index funds, ETFs, and passive asset class funds, an expanded section on portfolio care and maintenance, the addition of Swedroe's 15 Rules of Prudent Investing, and much more.In clear language, Swedroe shows how the newer index mutual funds out-earn, out-perform, and out-compound the older funds, and how to select a balance "passive" portfolio for the long hail that will repay you many times over. This indispensable book also provides you with valuable information about: The efficiency of markets today The five factors that determine expected returns of a balanced equity and fixed income portfolio Important facts about volatility, return, and risk Six steps to building a diversified portfolio using Modern Portfolio Theory Implementing the winning strategy and more.
Customer Reviews:
The best financial advice you will ever receive.......2007-08-23
I read this book 8 months ago. It was such an eye-opener that I went on to read ten other investment books over the ensuing 6 months. Although several other books cover much of the same material, Swedroe's book is the one that I have read and re-read several times. It really can stand alone as your "only guide to investing". Two of my relatives have read it now, as well. I now manage all of my investments myself, with confidence. Short term market drops don't worry me at all. I truly believe that anyone who reads this book and later reads Swedroe's bond book(by about the same title) will be well-armed to manage their investments without the expense of a broker or advisor.
Great Investment Book!.......2007-05-22
I've just finished reading your book and wanted to thank you so much for sharing this straight forward method of investing with all of us!! I've been investing for many years. I've tried timing the market, newsletter services, timing services; just about ever known method to not make money. After reading your book, it really seemed to 'click' for me.
I've been suggesting this book to many of my friends. They seem to want exactly what your strategy provides, reasonable returns with reduced risk. I wish I had found this book many years ago.
A tool box that does the job..............2007-05-09
This was an excellent book that covered all the necessary fundamentals without going into the excessive esoterica of the field that I, as a simple investor, did not need.
It also provided useful formulas and guidance for fixed security investments based on the different scenarios that different investors might have.
The book has definite views on total bond market funds as well as mortgage backed securities that you are not likely to find elsewhere and that every investor must necessarily know before investing.
The title really says it all.
Excellent book.......2007-05-09
One of 4 o5 of the best investment books I've read. Every investor should read this book.
Winning strategy? Yes!.......2007-05-08
Late summer of 2005 I decided to turn our investments over to a financial advisor. My wife questioned whether it made sense to give such a huge cut (2% of market value each year) to a brokerage firm. That weekend we went to Barnes and Noble and I bought this book. The rest is history. I am in index funds and short term bonds. I am 60/40 domestic/foreign. My return has been great but the most important thing is that I sleep well at night. I rebalance when the numbers get out of whack not because of some hunch or fear. I sold everything that I owned to get into this strategy and paid a large amount of tax but it has all been worthwhile. This strategy forces you to take profits when stocks rise and buy stocks when prices go down. It makes sense and it works.
Book Description
Larry Swedroe has collaborated with Joe H. Hempen to create a totally up-to-date book on how to invest in todays bond market. It covers a range of issues pertinent to any bond investor including: Bond-speak The risks of fixed income investing Mortgage-backed securities Tax-free municipal bonds. The Only Guide to A Winning Bond Strategy Youll Ever Need is a no-nonsense handbook with all the information necessary to design and construct your fixed income portfolio. In this day and age of shaky stocks and economic unpredictability, Swedroe offers a crucial tool for any investor looking to safeguard his or her money.
Customer Reviews:
Great book for a "bonds 101".......2007-06-08
Great first book to learn about bonds and similar financial products... what they should and should not be used for, what to buy for what, and what not to buy, and of course, the soundest advice that you should get a professional to review your individual situation to find the best strategy to preserve capital.
A classic book on investing.......2007-02-17
Like all of Larry's books this one is a gem. You will never find an author as skilled in explaining difficult subjects as Larry can. One would think he was simply a skilled language mechanic. Not so Larry is a skill investor too. He has written several book on investing and I have and read them all. For many years I was a bond investor and thought I had mastered the subject, Wrong I learned much from his book and you will too. Larry believes in passive investing tecgniques. Books on the subject are a little too complex for the average investor. I can offer a solution to this problem. I want to recommend for you a book titled How to Make Money in the Stock Market-Buy 2,500 different stocks for $1000 - Pay no Commission This book is a must for those wanting to find out about indexing (passive investing) and why it is the superior method for the small investor (and big one too). This book is an outstanding guide to personal investing. It will be useful to all investors from novices to highly the highly experienced. This book prepares the reader to approach investing from the standpoint of the underlying science. It is the antithesis of a 'get rich quick scheme'.
All aspects of Modern Portfolio Theory and passive (index) investing are explained in a through and easily understood manner. The aspect I like most is that as well as a solid theoretical foundation the book is very practical and shows the reader how to create (and more importantly) and manage over time a successful portfolio. This is a great book- for the beginning investor, it's a great place to start and for the experienced investor there are many valuable suggestions.
It's a shame to think of how much money investors have lost "investing" in the stock market over the years. I wish I had read this little book years ago. The chapter on automatic investing recommends a number of portfolios that follow modern portfolio theory and adjust risk as you age without any effort on the part of the reader at all. Had this book been written years ago and had I followed its directions I would be rich today of that I am certain. Nevertheless I will pursue one of the portfolios recommended and stick to my chosen asset plan.
How to Make Money in the Stock Market-Buy 2,500 Different Stocks-Pay no Commission
A Must Read For Every Investor.......2006-11-15
Larry Swedroe and Joseph Hempen explain the misunderstood asset class of fixed income most clearly and advise the implementation of bonds into your investment portfolio in accordance with your objectives. Clearly and concisely, the authors tell you the pros and cons of various security types and familiarize you with "bondspeak", the insider language of the bond market. Read and digest this book. Then you'll know what to do with fixed income securities in your investment strategy just like a pro.
Joel
Good book for basic fixed income investing.......2006-11-13
This is a must read for anyone who wants to know about bonds and fixed income investing in general.
I wish I had read this earlier but that happens with most of us. I am glad that I ordered this now and have almost finished it reading.
Too many words.......2006-11-10
There is some useful information for the average investment duffer. But the information to word ratio is way too small. Swedroe is a smart guy. His prolixity problem doesn't even approach that of David Swenson---a small consolation for the reader. Next time he should hire a ghost writer.
Book Description
Andrew Tobias’s newly revised, bestselling guide in a groundbreaking Spanish-language edition. Index.
The million-copy bestselling classic is now even more indispensable, fully updated and revised to cover investing and money management well into the next century. Concise, breezily witty, and truly understandable, Tobias takes an informative look at the best uses for your money, no matter how much or how little you have. More than ever before, this is the "only investment guide many will ever need."( "Barrons" )
Customer Reviews:
La Unica Guia de Inversion Que Usted Necesitar.......2006-03-20
I don't like 'cos anythings wont apply to mexico
Very Good!.......2001-06-03
I found this book extremely helpful. I wish I had known about it before, It would have saved lots of time and money which I have spent on a few seminars. THis book goes into more detail and gives suggestions and examples we can use in our everyday life.
EL mejor!.......2000-11-25
El mejor libro de este tipo que he leido, no es complicado de entender, da ejemplos claro de todo. Realmente es la unica guia de inversion que se necesita. Puede que la traduccion no sea muy buena, pero eso no le afecta al libro. No se lo pierda.
Version en español (Spanish version) es desastrosa........2000-02-24
No compres este libro en español. Es una traduccion desastrosa. El traductor decidio traducir literalmente palabra por palabra y toda la exquisitez del libro en ingles se convirtio en BASURA. Si sabes un poco de ingles, lee la version original en ingles.
Book Description
Everyone's worried. Traditionally safe investments in savings, money-market accounts, CDs, and bonds just aren't paying off. Millions of Americans are flocking to mutual funds. Now, award-winning journalist Jonathan Clements clears a path through the financial minefields. In clear, easy-to-understand, jargon-free language, he shows even the most uninformed investor how to use his unique, carefully designed, and balanced approach to mutual funds--and take advantage of the wealth-building power of the stock market.
Customer Reviews:
It worked well for me!.......1998-12-23
I bought this book when I started my first pharmacist job. All my investments are mutual funds and this is the only book I ever read on mutual funds. According to Quicken my ROI today is ranging 23-33%. I'm happy with what the book taught me.
Book Description
The definitive guide to maximizing earnings in one of the nation's most lucrative fields.
This revised and updated edition of the classic guide demonstrates how anyone can enter the world of real estate-even with little or no money to start. From finding and analyzing investment property through financing, buying, managing, and selling- when the time is right-real estate expert Milt Tanzer provides essential information, including:
- Where to find the best sources of investment capital
- How to locate the best property
- How even 100%-leveraged property can offer a good return
- How to negotiate the purchase and close the deal
- How to set up a simple and efficient recordkeeping system
- How to make the highest possible after-tax profit while owning property-and when selling it
- How to build investments into a substantial estate
- How to safely invest on a budget
Customer Reviews:
A Solid Book For The Intermediate Real Estate Investor.......2004-04-30
I like Milt's style. Direct and no hype. This is a good book for the real estate investor who has either read several books on real estate investment (especially the over-hyped no-money down types) and/or has begun a modest investment program and wants to go to the next level.
I would not recommend this book for anyone who has already had substantial experience in real estate investment as many of the ideas that the author presents will seem overly simplistic.
The author's assertion that the numbers work the same whether purchasing a smaller property or larger simply didn't ring true to me and don't bear out in the real world. There is a huge difference between investing in a 4-plex and a 40-unit apartment building.
Nonetheless, it's a book worth reading and to refer back to.
Edvard Redding Richards
Author of Fire Your IRA !
Another.........2004-04-26
basic beginners book. A little better at the math than most, in that it actually covers numbers. Yes, the book is 8 yrs old and the interest rates used are a little out of line, but the formulas are the same. One beef I have with books like these is that they rely way too much on appreciation to make an investment successful. Tanzer uses 5%! Yes this happens in certain areas, but never on a consistent basis, and definitely not in all areas. The way to invest and not speculate is to not count on inflation or even appreciation in your purchase numbers, then when it happens its just tacked on as a bonus when you sell the property.
His info on where to find funds is pretty basic. Laughable when he gets to "Sources You May Have Overlooked" and his big idea is, drumroll please....family and friends! Puh-lease!
Some versions come with a disk tutorial. Did not review this.
Good Theory but bad numbers.......2002-02-16
The book is good for opening the readers mind to the possibilities of real estate investing. I was amazed at the number of miscalculations and typing errors counting nearly 100. I have an advanced degree in Finance and found this book to be horribly inaccurate, as far as the numbers. Some of the rates of loans, inflation, and Caps you will never see in your lifetime. Based on his numbers property values would have to be half of their current value and produce the same income. Good for principals for the very beginner, please read other books before you really invest or you will have a rude awakening. I recommend a college text. If you don't understand it you have no business investing in real estate.
Great Book for the Beginner and/or First Timer Investor.......2001-01-21
After looking around for several years and trying to decide on exactly what venture I should go into I decided on real estate. I was browsing the shelves at Borders and just came upon this book. I picked it up and finished it in about 8 days. The book is written in a plain and practical manner. A very conversational style so that the author actually is speaking with you and not at you. The book offers some very practical, step by step suggestions that can be applied in real world situations. He provides numerous charts, graphs and tables that can be used when doing your property research. This can be applied to commercial and residential property. I am a total novice when it comes to real estate investing and I am actually thinking about getting my license here in NY. In addition to this book I would suggest that you read a few others just so you can get a well rounded idea of just exactly you might be getting into. The author does declare not to jump into things but once you find the right property - jump on it and go for it. Many a great deal have been lost due to fear and hesitation. I also highly suggest you read "Rich Dad, Poor Dad" and "The Richest Man in Babylon"
Well-written and informative.......2000-11-22
Mr. Tanzer gives the reader the 'how to' of investing in real estate. Many examples guide you through his methodology. He makes the math easy to understand and his writing style is clear, concise, and understandable. He takes the mystery out of investing in real estate and, for the first-time investor, the knowledge to go ahead with your first real estate purchase. If you're thinking about buying an apartment building, office building, etc., you will want this book. Well worth the price.
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- The Sources of Innovation
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- The Toyota Way
- The Toyota Way
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Books Index
Books Home
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Personal Taxes
| Taxes
| Accounting
| Industries & Professions
| Business & Investing
| Subjects
| Books
A Random Walk Down Wall Street: Completely Revised and Updated Edition
The Four Pillars of Investing: Lessons for Building a Winning Portfolio
The Bogleheads' Guide to Investing
Investing for Dummies Cd (--for Dummies (New York, N.Y.).)
Personal Finance For Dummies, 5th edition
