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The Only Investment Guide You'll Ever Need (平装)
by Andrew Tobias
| Category:
Personal finance, Personal wealth, Investment, Self help |
| Market price: ¥ 158.00
MSL price:
¥ 128.00
[ Shop incentives ]
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| Stock:
In Stock |
MSL rating:
 Good for Gifts |
| MSL Pointer Review:
Packed with great investment, tax and cost saving tips, this investment classic is a great introduction to personal finance. |
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AllReviews |
  1 2 Total 2 pages 12 items |
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An American reader (MSL quote), USA
<2007-01-12 00:00>
The best line in Andrew Tobias's 25-year old classic is, one penny saved is two pennies earned. Why? Because when you save two pennis, close to one is taken away by the government, unless you are some dirt-wealthy person protected by tax shelters and a carribean passport. So by not eating that $... sushi meal, it's the same as you just earned $..., minus the cost of the McD burger.
Tobias also points out the pitfalls in many popular investments, ranging from stamps to whole life insurance to insider stocks. The book is refreshing, even after 25 years. I totally wish I had had heeded his advice all these years. Indeed, if I had just bought some long-term bonds back when interest rate hit double digits, I would have retired long ago. Instead I played the equity market and in all these years, came out flat at best, not counting the uncountable number of sleepless hours and numerous occasions of near heart attacks.
Because Tobias aims to keep the volume slim - although the latest edition is bigger and 3 times more expensive than the last one I bought back in 1989 - a lot of important things are left out, e.g., real estate, trusts, etc. Half of the book is devoted to stocks. While the advice is must-read for every small investor, I was hoping to see more content on bonds and also chapters devoted to hedge funds and real estate. Sure Tobias can say something about these increasingly popular vehicles.
A timeless classic marred by some missing chapters, but still a gem in a world populated by useless investment advice, in book form or in person. |
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Randell Blake (MSL quote), USA
<2007-01-12 00:00>
I read the original and incorporated its basic message into my daily life: When you know how to save money, you free yourself. There are those who would make you think that consuming beyond your means is acceptable, even expected. Reading and remembering this book will help you protect yourself from believing them. Especially important is his calculation of the value of saved money: a dollar saved is one that has escaped taxes and the demands of living. As he puts it, a penny saved is two pennies earned. Saved money is pure payload; it is free to work for you. Budgeting does not diminish you, it frees the fruits of your labor from being consumed. I remember his message as I walk through stores, when I contemplate taking on consumer debt, when people try to make me feel embarrassed about being thrifty. Yes, some things in life are worth the money. I save my money for those things. One of them is peace of mind. Tobias reminds us that no matter how much we make, we have choices: what we buy, or not to buy at all; to master money, or let it be our master.
By the way, Tobias is hilarious. I can't forget a line from the original classic, something like, "Most futures traders wouldn't know a pork belly if they hit one with their car." Enjoy and start enjoying saving!
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1 2 Total 2 pages 12 items |
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