Daniel R. Solin’s handy book demonstrates why trading stocks actively is a great idea for your broker or financial advisor, but could be a very bad idea for you and your hard-earned savings. Solin’s investment method, while not presented as a fresh invention, is simple: He encourages you to set up a very low-cost account with a reputable company, allocate your assets in a mix of stock and bond indexes that represent the entire market, and regularly rebalance your portfolio to bring it back in line with your desired asset allocation. Solin’s virtue is his energetic, sometimes entertaining writing style, as displayed in 44 snappy chapters that avoid financial theory almost completely. He focuses on dollars and cents, and how best to keep them in your own pocket. getAbstract recommends this smart guide as a primer for beginners or financially unsophisticated investors.
In this summary, you will learn
- What “Hyperactive” and “Smart” investing are;
- Why most brokers love hyperactive investing, but investors should avoid it; and
- What four steps you can take to become a smart investor.
About the Author
Daniel R. Solin, a securities arbitration lawyer and speaker, is a principal at Academic Wealth Management. He also wrote “Does Your Broker Owe You Money?”