Clear and highly readable guide to safety-first investing,
This review is from: The Little Book of Safe Money: How to Conquer Killer Markets, Con Artists, and Yourself (Little Books. Big Profits) (Hardcover)
'The Little Book of Safe Money' is a guide by a respected American financial journalist to secure investment: that is to say, to investment that is as secure as is possible in a world in which absolute security cannot be had. Its target appears to be the kind of investor who is interested in share ownership as a way of spreading asset risk, and who has the safety of the invested funds rather than fantasies of enormous gains uppermost in mind: but who is intelligent enough to understand how little he really knows about the market, and is looking for informed and disinterested guidance.
Zweig, although by no means anti-market, is very definitely on the side of the cautious non-expert investor. His long experience as a journalist has given him a pleasingly sceptical attitude towards get-rich-quick schemes and the claims of the financial industry. He offers firm rules for assessing risk and principles for deciding whether to invest at all. The potential pitfalls of various investments are discussed, the problems of investment psychology explored, and the possibility of fraud assessed. Above all, Zweig encourages the investor to understand the purpose of investment from his individual perspective, rather than accepting a guru's unchanging one-size-fits-all philosophy or succumbing to a salesman's cant.
The result is a clearly written and useful book that is surprisingly entertaining as well as informative. There is a great deal of useful advice here. One could even imagine it being used to introduce an intelligent teenager to the principles of sound investment.
The only negative is that 'The Little Book of Safe Money' was written with an American audience is mind. This means that there are a few sections - for example, that which deals with saving for a child's college education - that may be of limited interest to the British reader; though even here, there are lessons to be learned about general principles that are applicable elsewhere. There are inevitably a few terms that may have to be mentally translated into their British equivalents: but access to the internet has made this a trivial matter.
The Little Book of Safe Money: How to Conquer Killer Markets, Con Artists, and Yourself (Little Books. Big Profits)(1 customer review)