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The Smartest Investment Book You'll Ever Read
Book

The Smartest Investment Book You'll Ever Read

The Simple, Stress-Free Way to Reach Your Investment Goals

Daniel R. Solin
Perigee, 2006

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Editorial Rating

6

Recommendation

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.

Take-Aways

  • Some money managers engage in “Hyperactive Investing,” carelessly using your money to try to select winning stocks and outperform the market.
  • However, almost no one can beat market returns in the long run.
  • Hyperactive investing benefits your financial advisors more than you.

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?”

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