Payback Time

Payback Time

Making Big Money Is the Best Revenge

Book - 2010
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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. 
Publisher: New York : Crown Business, c2010.
ISBN: 9780307461865
Call Number: 332.6 TOWN
Characteristics: 275 p. ; 25 cm
Subjects: 401(k) plans.
Individual retirement accounts.
Finance, Personal.
Investment analysis.


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Apr 10, 2015

This man provides horrible financial advice. It's toxic for your financial independence. Instead, invest in low cost passively managed index funds with a tilt to value and growth according to your risk tolerance. Recall that 95% of the battle is your asset allocation.

Apr 04, 2013

A prequel to Rule #1 (even though it was written after Rule #1). Great idea, but I felt it either lacked substance or it was just too much book for the relatively small amount of information it was intended to convey - seemed like there was a lot of fluff needed to fill the pages. But the idea of stockpiling is worth understanding.

Aug 26, 2011

A good book on value investing.


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