"The Only Investment Guide You'll Ever Need" Kindle daily deal

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egghead
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"The Only Investment Guide You'll Ever Need" Kindle daily deal

Post by egghead » Mon Apr 16, 2018 9:20 am

Andrew Tobias's book "The Only Investment Guide You'll Ever Need" is one of today's Kindle daily deals at $1.99.

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oldcomputerguy
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Re: "The Only Investment Guide You'll Ever Need" Kindle daily deal

Post by oldcomputerguy » Mon Apr 16, 2018 11:11 am

I like this book but am not sure it lives up to its title (the “only investment book you’ll ever need”).

Tobias recommends individual US Treasuries or municipal bonds on the fixed-income side and completely recommends against corporate bonds, or any bond funds. I think the prospective investor would be better served by a more thorough discussion of these points before deciding on an asset allocation.

I’m also not at all clear on this statement from the book, in which he writes about keeping some money in equities after retirement:
Even after you leave your employer, there will be ways to roll your retirement money into other tax-deferred retirement accounts. If the market takes a dive just before you retire, you could roll your stock-market retirement money into other stockmarket funds and wait for it to recover.
No mention of how fixed-income might be used to buffer the effects of a downturn.

So while I think the book is a pretty decent starting point, I certainly don’t think it’s the be-all and end-all of investment knowledge that the title implies.
It’s taken me a lot of years, but I’ve come around to this: If you’re dumb, surround yourself with smart people. And if you’re smart, surround yourself with smart people who disagree with you.

CrossOverGuy
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Re: "The Only Investment Guide You'll Ever Need" Kindle daily deal

Post by CrossOverGuy » Mon Apr 16, 2018 11:22 am

It's a good book - well-written and even very funny in parts. (Come on, WIllow!!!!). Mr. Tobias addresses the issue of the book's title in the text; it was his editor's and/or publisher's insistence that he use it; plus the book became a best-seller in multiple editions, so it stuck. But I have some quibbles with his dismissal of using corporate bonds, bond funds, etc., so while I think it's a good primer, there are also other books in addition for beginning investors (and more advanced ones who want to pick up different points of views). I'd say the Eric Tyson "Dummies" books on investing, personal finance and mutual funds, along with Burton Malkiel's "A Random Walk Down Wall Street" would be great adjuncts to the Andrew Tobias book as well.

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nisiprius
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Re: "The Only Investment Guide You'll Ever Need" Kindle daily deal

Post by nisiprius » Mon Apr 16, 2018 8:10 pm

It's awfully good. It's too bad that there are things in it that are glaringly out of date. I haven't gotten to the part, except to glance at it, where he become an advocates for Joel Greenblatt and the "Magic Formula." I am trying to decide whether to give it as a gift to my twenty-year-old granddaughter, but I think I need to read it through and see how badly I'm bothered by the Magic Formula advocacy.
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TravelGeek
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Re: "The Only Investment Guide You'll Ever Need" Kindle daily deal

Post by TravelGeek » Mon Apr 16, 2018 8:49 pm

It was one of the (if not the) first investment book I ever read, some 20+ years ago. But not the only or last one. Guess I could have picked a worse title off the shelf at Borders or B&N.

I’ll need to check if I still have it.

gmaynardkrebs
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Re: "The Only Investment Guide You'll Ever Need" Kindle daily deal

Post by gmaynardkrebs » Mon Apr 16, 2018 9:38 pm

There may be more comprehensive investing books out there, but none are more enjoyable than TOIGYEN. Tobias was Michael Lewis before there was Michael Lewis, and I read them both for the same reasons -- they are brilliant humorists and sage philosophers of the world of money.

NYCwriter
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Re: "The Only Investment Guide You'll Ever Need" Kindle daily deal

Post by NYCwriter » Mon Apr 16, 2018 11:06 pm

Thanks, just purchased this book.

I don't plan to relinquish bond funds, but I've heard a lot about this book and am interested in his approach.

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linenfort
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Re: "The Only Investment Guide You'll Ever Need" Kindle daily deal

Post by linenfort » Tue Apr 17, 2018 8:31 am

egghead wrote:
Mon Apr 16, 2018 9:20 am
Andrew Tobias's book "The Only Investment Guide You'll Ever Need" is one of today's Kindle daily deals at $1.99.
Thank you!
Is it too early for an all-bond-portfolio thread?

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