Don’t get mad, get even…
Phil Town’s first book, the #1 New York Times bestseller Rule #1, was a guide to stock trading for people who believe they lack the knowledge to trade. But because many people aren’t ready to go from mutual funds directly into trading without understanding investing— for the long term – he created Payback Time.
Too often, people see long-term investing as “mutual fund contributing” – otherwise known as “long-term hoping.” But the sad truth is that mutual fund investors are, to a stunning degree, pinning their hopes on an institution that is hopeless. It turns out that only 4% of fund managers consistently beat the S&P 500 index over the long term, which means that 96% of fund investors see a smaller return on their nest egg than a chimpanzee who simply buys stocks in the 500 biggest companies in America and watches what happens.
But it’s worse than that. The net effect of hitching your wagon to mutual funds is that over a lifetime they’ll fritter away as much 60% of your nest egg in fees. Once you understand how funds engineer this, you’ll rush to invest on your own.
Payback Time’s risk-free approach is called “stockpiling” and it’s how billionaires get rich in bad markets. It’s a set of rules for investing (not trading but investing ) in the right businesses at the right time -- rules that will ensure you make the big money.
From the Hardcover edition.
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|Title of History eBook: Payback Time|
|Release Date: 03-02-2010|
|Allowed Countries (hover)|
|Publisher: Crown Business|
This eBook download is available in the following formats:
|Parent title||Payback Time|
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|Note||ePub, short for electronic publication is one of our favorites and should be yours for a couple of reasons. ePub offers reflowable text giving you flexibility to manipulate how the content is presented. Moreover, lots of cool features are now being developed for the reader like advanced video and audio. ePub is now an industry standard, so all of the "non-propreitary" hardware manufacturers are now supporting it.|
HOW the WEALTHY USE DOWN to GO UP
"There are risks and costs to a program of action. But they are far less than the long-range risks and costs of comfortable inaction."
—John F. Kennedy
The best investment strategy I know is so counterintuitive, so shockingly upside down, such a crazy way of thinking about investing that hardly anyone who uses it wants to even try to explain it. It’s not at all hard to do, but it is hard to explain. It just sounds so . . . impossible. But smart investors do it all the time and, man, does it work! I mean it really works. It’s an “I can do whatever I want the rest of my life” kind of works. It works so well, it’s the secret to the investing success of the best and richest investors in the world. Seriously.
I know that sounds like hype, but honestly it’s impossible to overstate the effectiveness of this strategy. It really is the basis of the biggest fortunes in the world, including those of quite a number of Forbes’s World’s Billionaires list. For example, #3 is Carlos Slim Helu, the Mexican telecom entrepreneur who is worth $35 billion and is currently buying into cheap media, energy, and retail assets, including the New York Times, using this strategy. Lakshmi Mittal, #8, of India, created a $19 billion fortune and now runs the world’s largest steel company, ArcelorMittal. He built ArcelorMittal using this strategy in Eastern Europe in the 1990s after the Berlin Wall came down. Number 15 is Bernard Arnault of France, who built a $16 billion fortune by acquiring Christian Dior with this strategy.
Number 16 on the World’s Billionaires list is ...