Payback Time: Making Big Money Is The Best Revenge!
by Phil Town /
2010 / English / PDF
139.3 MB Download
Don’t get mad, get even…
Don’t get mad, get even…
Phil Town’s first book, the #1 New York Times bestseller
Phil Town’s first book, the #1 New York Times bestsellerRule
#1,
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
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 intotrading
trading without
understanding
without
understandinginvesting—
investing—for the long term – he created
for the long term – he createdPayback Time.
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.
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
But it’sworse
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.
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
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
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 butinvesting
investing) in the
right businesses at the right time -- rules that will ensure you
make the
) in the
right businesses at the right time -- rules that will ensure you
make thebig
big money.
money.From the Hardcover edition.
From the Hardcover edition.
