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Customer Review

VINE VOICEon 22 July 2010
Format: Hardcover|Vine Customer Review of Free Product( What's this? )
This book is an easy read, with short, pacy chapters full of anecdotal stories and studies. As with all books of this kind of genre, the central themes are pretty straightforward namely:

- financial analysts don't have a better a view of what to invest in than you do; they are simply paid to generate sales (i.e. buys or sells).
- financial commentators use the massive overload of market data that is available to comment on meaninglessly infinitessimal changes in market indices & prices, like it was an unarguable science.
- central bankers and economists were no better than you or me at predicting the crunch, despite this mass of data that is available to them.
- however much you deny it, people's intrinsic behaviour is governed more by pack mentality than you might care to admit (and there are some great examples of this throughout the book !).

So from an investor's standpoint, the author's suggestion is that we select our investments based on a simple set of parameters (such as risk appetite & desired return, investment timeframe, etc) which we should always set in the cold light of day. Once invested, we should then re-evaluate our investments only periodically against these parameters, and buy/sell the investment only when it is no longer satisfying the parameters we had set. In other words, ignore the market mania and mass of "noise" that most market data represents, and follow a simple set of investment principles only. Now then, if only there was a book that outlined how to do that ....
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