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Product Description
James Teasdale, Fund Strategy Magazine, September 2006
...a thought-provoking text that both inexperienced and informed investors could find useful.
--This text refers to an alternate
Paperback
edition.
John C. Bogle, Founder, Vanguard.
... a book of investment wisdom and common sense ... Investors who
follow [Hale's] simple advice will be richly rewarded. --This text refers to an alternate Paperback edition.
follow [Hale's] simple advice will be richly rewarded. --This text refers to an alternate Paperback edition.
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Most Helpful Customer Reviews
16 of 16 people found the following review helpful
Format:Paperback
A timely and very useful overview of practical recommendations, backed up by clear explanations and references to original research, on a wide range of personal investment and financial planning topics. The book should prove particularly valuable to UK investors who have only recently gained access to the competitively priced index and exchange traded funds which can form the basis of any investment portfolio. The book draws heavily on the writings of several US authors, notably Bernstein, Bogle, Ellis, and Swensen who have brought an understanding of the benefits of careful asset allocation, passive investment, and relentless focus on minimising taxes and transaction costs, to countless US investors. Based on personal experience as an insider in the fund management industry, the author does not pull his punches in describing the inadequacies of most retail investment products available in the UK market. In addition, his analysis of alternative investments including hedge funds brings an open-minded but healthy scepticism to bear on some current favourites. The only minor complaint is that the book stops short of recommending specific service providers or sample portfolios, although this is perhaps understandable given the rate at which new products are appearing in the market. Overall, a welcome addition to the bookshelf of any serious investor.
10 of 10 people found the following review helpful
Format:Paperback
Tim Hale's book gives readers the knowledge and tools to make good investment decisions. That alone is a significant achievement given all the "How to get rich quick" books lining the average set of shelves in any book shop. But the clarity of thought and clear writing is what really makes this book stand out - and what has made me much more confident and relaxed about my investing.
The book first cuts through all the noise that we read in the Sunday papers relating to what sector is doing best this month, what fund manager is this week's star, and whether the Footsie is up or down. He convincingly shows how strategies based on market-timing, chasing the next sector or region, and constant tweaking (trading) of your investments is a sure way to lose money. Like a bell chiming through all this noise, Hale explains how good investing is much simpler when you do a few things extremely well.
Hale gives direct advice backed-up with well-presented data. Whether your investment horizon is 30 years or 5 years, he explains how to construct an optimal portfolio that maximises your chances of making money and see you through periods of market trauma.
The meat of the book is a master-class in sensible investing: a step-by-step guide to the basics, and the complexities, of personal investing. Plenty of detail is given in the form of sample portfolios and tables that help readers to create a robust portfolio. Going beyond simple statistics such as "the stock market returns on average 5% a year", Hale gives the tools to help you work out how much you may need to invest if you want to be (for example) 80% sure of a retirement on 70% of your salary. It might sound complex, but the book is so well constructed and written that readers are gently led through the fundamental decisions they need to make.
After reading the book, I felt much more relaxed and confident about my investments and what they might do for me. If you're half-way serious about investing, you could do much, much worse than reading this book. Thoroughly recommended.
The book first cuts through all the noise that we read in the Sunday papers relating to what sector is doing best this month, what fund manager is this week's star, and whether the Footsie is up or down. He convincingly shows how strategies based on market-timing, chasing the next sector or region, and constant tweaking (trading) of your investments is a sure way to lose money. Like a bell chiming through all this noise, Hale explains how good investing is much simpler when you do a few things extremely well.
Hale gives direct advice backed-up with well-presented data. Whether your investment horizon is 30 years or 5 years, he explains how to construct an optimal portfolio that maximises your chances of making money and see you through periods of market trauma.
The meat of the book is a master-class in sensible investing: a step-by-step guide to the basics, and the complexities, of personal investing. Plenty of detail is given in the form of sample portfolios and tables that help readers to create a robust portfolio. Going beyond simple statistics such as "the stock market returns on average 5% a year", Hale gives the tools to help you work out how much you may need to invest if you want to be (for example) 80% sure of a retirement on 70% of your salary. It might sound complex, but the book is so well constructed and written that readers are gently led through the fundamental decisions they need to make.
After reading the book, I felt much more relaxed and confident about my investments and what they might do for me. If you're half-way serious about investing, you could do much, much worse than reading this book. Thoroughly recommended.
6 of 6 people found the following review helpful
Format:Paperback|Amazon Verified Purchase
Within my library of books on investment, this one stands out, for two reasons. Firstly, it is without doubt the most useful book of its kind that I've encountered in many years of reading and writing on financial and investment issues. Secondly, because my copy has become somewhat dog-eared through hard use.
Tim has a unique ability to organise technical information into big-picture concepts, which he then drills down through in order to arrive at a cogent and effective investment planning process.
The end result is so logical, rational and easy to follow, that all the other books become useful insofar as they supply helpful supporting data or arguments.
I am an IFA of some 20 years standing, and have benefitted from plenty of technical training over that time. Little of that came even close to Tim's extremely thoughtful contribution.
So don't mess about - buy it!
Tim has a unique ability to organise technical information into big-picture concepts, which he then drills down through in order to arrive at a cogent and effective investment planning process.
The end result is so logical, rational and easy to follow, that all the other books become useful insofar as they supply helpful supporting data or arguments.
I am an IFA of some 20 years standing, and have benefitted from plenty of technical training over that time. Little of that came even close to Tim's extremely thoughtful contribution.
So don't mess about - buy it!
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Most Recent Customer Reviews
Practical Advice that you can use immediately
I have managed my own investments for over 25 years, so this book was a real revelation. Just 10 minutes into the book I realised that I had found a way to minimise the risk (which... Read more
Published 25 days ago by P. Whiers
A fantastic UK centric investment guide
My investments have primarily been with active investment funds and traditional providers over the last 20 years - I wish this book and the passive approach to indexing had been... Read more
Published 5 months ago by rhinestone
Clear, Authoritative, Comprehensive
This book offers lots of practical advice, and it is based on empirical research rather than ideology, fashion or dogma. Read more
Published 5 months ago by L. Paulson
This could save you a fortune
I read this after having seen it recommended in a finance forum. Am I glad I read it.
Usually the investment side of personal finance is shrouded in mystery and the... Read more
Usually the investment side of personal finance is shrouded in mystery and the... Read more
Published 9 months ago by Mysay
My investment bible
What I like about this book is that it is full of sense, and also it seems eminently honest.
What I mean is that the author doesn't seem to be selling the reader... Read more
What I mean is that the author doesn't seem to be selling the reader... Read more
Published 13 months ago by andy1980
Brilliant - no tricks, no gimmicks, no secrets - just simple clear...
If you only ever buy one investment book make it this one. Clear straight forward explaination to help you make better investment decisions. Read more
Published 16 months ago by P. Lacey
Smarter Investing
This book really provides a comprehensive yet simple explantion as to how you should consider investing YOUR money for the future. Read more
Published 18 months ago by Rajesh Modha
SMARTER INVESTING = Buy & Hold Global ETFs
Smarter investing means getting in the market, and holding on. Avoid managed funds, market timing, stock picking, all the noise made by the financial services industry (which is... Read more
Published 19 months ago by T. J. Jones
Revised but not improved!
This is still a very worthwile book, in itself a rarity in the how-to-do-it and explanatory category of investment book,BUT the previous edition was so much more informative. Read more
Published on 21 Dec 2009 by J. Ll Thomas
Outstanding.
As an ex-banker, I never normally read investment books aimed at a general audience as I normally find them somewhat unrealistic in the impression of investing (speculating ? Read more
Published on 14 Sep 2009 by Gregor
Listmania!
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