 | The Investment Answer By Daniel C. Goldie, Gordon S. Murray
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Product Description
What if there were a way to cut through all the financial mumbo-jumbo? Wouldn't it be great if someone could really explain to us—in plain and simple English—the basics we must know about investing in order to insure our financial freedom?
At last, here's good news.
Jargon-free and written for all investors—experienced, beginner, and everyone in between—THE INVESTMENT ANSWER distills the process into just five decisions—five straightforward choices that can lead to safe and sound ways to manage your money.
When Wall Street veteran Gordon Murray told his good friend and financial advisor, Dan Goldie, that he had only six months to live, Dan responded, "Do you want to write that book you've always wanted to do?" The result is this eminently valuable primer which can be read and understood in one sitting, and has advice that benefits you, not Wall Street and the rest of the traditional financial services industry.
THE INVESTMENT ANSWER asks readers to make five basic but key decisions to stack the investment odds in their favor. The advice is simple, easy-to-follow, and effective, and can lead to a more profitable portfolio for every investor. Specifically:
- Should I invest on my own or seek help from an investment professional?
- How should I allocate my investments among stocks, bonds, and cash?
- Which specific asset classes within these broad categories should I include in my portfolio?
- Should I take an actively managed approach to investing, or follow a passive alternative?
- When should I sell assets and when should I buy more?
In a world of fast-talking traders who believe that they can game the system and a market characterized by instability, this extraordinary and timely book offers guidance every investor should have.
Product Details
- Amazon Sales Rank: #32 in Books
- Published on: 2011-01-25
- Original language: English
- Number of items: 1
- Dimensions: 8.50" h x .50" w x 5.75" l, .49 pounds
- Binding: Hardcover
- 96 pages
Editorial Reviews
Review
"Demystifies the investment process . . . a book every American should read." —The Honorable Bill Bradley, former United States senator
"Wow! If I could give only one book on investing to my friends, this would be it." —Bob Waterman, bestselling coauthor of In Search of Excellence
About the Author
Daniel C. Goldie is president of Dan Goldie Financial Services, LLC, a registered investment advisory firm. A former professional tennis player and Wimbledon quarterfinalist, he has been recognized by Barron's as one of the top 100 independent financial advisors in the United States. He graduated from Stanford University and has an MBA degree from the Haas School of Business, University of California at Berkeley.
Gordon S. Murray spent more than twenty-five years working on Wall Street, primarily at Goldman Sachs, Lehman Brothers, and Credit Suisse First Boston in a variety of institutional sales and management roles. After his Wall Street career, Murray worked as a consultant with Dimensional Fund Advisors. He is a graduate of the University of North Carolina at Chapel Hill, and earned an MBA from Columbia University.
Customer Reviews
Elegant summary of the core of personal investing
One of the advantages of a college education with a major in finance is that you learn the fundamentals, and, more importantly, you learn the boundaries of the universe in terms of what the field includes and what it excludes. Spend an hour or so reading this book, and you will also get that comfortable feeling that comes from knowing that you understand what personal investing is really all about. You will get the "big picture" and how it affects you.
I have been a full time faculty member teaching at the college level for the past 35 years and must say that the authors have managed to capture the essence of personal investing in about as few pages as I have ever seen and with a clarity that is very rare in books on this topic. I intend to make it required reading for both my undergraduate and graduate personal finance classes.
I might also add that any negative reviews posted to this site are likely to come from Wall Street brokers who make their living by exploiting the general public's ignorance on investing. These brokers don't like books that clarify and illuminate rather than mystify and obfuscate basic principles. As a lifelong educator, I applaud Goldie's and Murray's noble effort to help readers educate themselves so as not to be fooled by the same Wall Streeters who disgraced themselves in 2008 and nearly destroyed our economy with their greediness. Anyone who feels they don't know enough about investing should read this book. It is a gem.
The title says it all - The Answer
You won't be getting this book from your broker for Christmas. You don't need to read a bunch of "Beat The Market!!!!!" books to develop a sound approach to investing. Evaluate your personal investment goals and timeframe, take a gut check on your appetite for risk, and accept that risk and returns are correlated. The authors make a compelling, data driven argument in under 100 pages that describes a "no regrets" approach to investing. Market timing, stock picking, commodity speculating, etc. ultimately benefit the trading pros over the average investor. Choose your asset allocation model with a few simple principles, then buy diversified global capitalism for your equity component with low expenses. And hold it. Done. You won't be the big winner in any given year, but you will likely out perform 95%+ of investors who buy the proven myth that they can beat the market. There are many purveyors of this snake oil, but few truth tellers. Murray and Goldie get it right, and this book is so short and to the point that you must read it.
the investment primer for everyone
I just read The Investment Answer this morning in under an hour and it is brilliant -- comprehensive without being overwhelming, easy for a broad audience to read and understand, and most importantly, easy for anyone to execute.
Over the last 30 years, this is the model we have used to invest, and it has served us very well. But we have not been able to articulate this sensible plan to friends and family (especially our children) in a way that was understandable and compelling. The temptation to "take the bait" from Wall Street is strong. Many friends and colleagues who are more "sophisticated" investors suffered the sad outcomes so elegantly described in the book.
Gordon and Daniel -- thank you, thank you for writing this book. I am placing my order for 10 copies to give away to family and friends this morning. You have accomplished what few have -- a lasting legacy that will positively impact many families for a lifetime!
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