by Larry Swedroe
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Product Description
Larry Swedroe offers engaging stories to readers as a way of explaining sound investing concepts.
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Average Customer Review:
3 of 4 people found the following review helpful:
 Hard to decide if this book was helpful., 2008-06-19
I'll admit, I'm a very neophyte investor. I found Swedroe's description of how the market works to make a lot of sense and the first few chapters alone gave me high hopes for the rest of the book. Instead, those few chapters are the only part I found very helpful. The rest was a combination of rehashing the same points over and over, or introducing some pretty generic pieces of advice.
When Swedroe used 'concrete' examples to make his points, the statistician in me felt his spidey sense tingling. Almost all of his examples involved someone trying to outcompete the market using an investment method that Swedroe obviously doesn't like. Often, the first person is contrasted with someone who uses the passive investment method that Swedroe does like. The problem is, a lot of these examples use the setup that the first investment method did well the previous few years, but at exactly the moment these people chose their respective methods, the market changed, thus 'proving' that the passive method was really the better one to choose and therefore since it was better to choose in the 'story' presented, it must be better now.
The problem, as anyone who knows statistics can tell you, is one of 'cherry picking'. If Swedroe had instead set the two investment methods against each other and chosen a decent number of random starting points to make his case, and they had indeed shown that the passive method of i nvesting works better in a significant number of those cases, I would have given a lot more credence to his arguments. Instead, I had the impression he kept looking for starting dates that would make his case, which is a very misleading way to present a case.
Now, I'm not saying he's not right, nor am I saying that he intended to mislead, but the evidence he gives doesn't convince me.
1 of 1 people found the following review helpful:
Great Stories Illustrate Key Investment Principles, 2008-04-07
Wise Investing Made Simple: Larry Swedroe's Tales to Enrich Your Future (Focused Investor)[ASIN:0312339879 The Only Guide to a Winning Investment Strategy You'll Ever Need: The Way Smart Money Preserves Wealth Today]]The Only Guide to a Winning Bond Strategy You'll Ever Need: The Way Smart Money Preserves Wealth Today
I have really benefitted from Mr. Swedroe's earlier books on Winning Investment Strategies for equity and bond portfolios. This book's common sense interpretation of the important research on investing is great for an individual investor like me.
The new book uses examples of typical investor thinking and behavior to illustrate key elements of planning and discipline. I have passed the book on to two friends of mine who have been switching strategies mid-stream, paying high commissions, etc. I know that this book's approach to explaining how professionals view investing will be more accessible for new investors like them.
1 of 1 people found the following review helpful:
 Wise Investing Made Simple, 2008-04-06
Excellent book on investing. It's all perfectly clear to me now. This really lays out what is going on in the investment community and how to have your own self interest in the forefront.
Can be a little dry reading (to be expected), but well worth the time.
1 of 1 people found the following review helpful:
Wise Investing, 2008-04-05
This is a really good book if you want insight in how to invest your money.It speaks to investing in a way that is understandable even if you aren't a financial genius, or should I say especially if you aren't. And it's fun to read.
0 of 0 people found the following review helpful:
Wise Investing!, 2008-03-31
Larry Swedroe's newest: "WISE INVESTING MADE SIMPLE", imparts both knowledge and valued advice, in a series of easy-to-read tales (i.e., chapters), each ending with a morale aptly emphasizing the point of his tale for both the novice as well as the quite-well-informed investor. Swedroe is a persuasive advocate championing passive asset-class investing (buy-and-hold but re-balancing annually to restore target asset-class allocations) in a diversified portfolio of index funds and ETFs. He makes a compelling case--with outstanding clarity--just how this strategy advantages any long-term investor compared with any of the "hot methods de jur" that periodically (constantly?) are found being touted by the financial media and-- sadly for investors--much of the financial industry. (How this latter barrage of media-driven "picks" of one kind or another serves the interests of the promulgators themselves, and only secondarily-- if at all--serves the interests of the investor whose money is being rolled-around in brokerage and fund-accounts, is another eye-opening highlight of insight that the careful reader gets to see.....(the Emperor's clothes get removed, so to speak, and the Emperor is found to be unflatteringly avaricious!) And Swedroe arms his reader with the fortitude to withstand the occasional market downturns that come along every decade or so, and come out ahead when it's over! Although this book is the most recent of Swedroe's excellent series, I specially want to mention how excellent I feel a set of five chapters--Chapters 7-11 in Larry Swedroe's earlier published book, "The Only Guide to a Winning Investment Strategy You'll Ever Need"-- are. Few investments, in my opinion, are as likely to reward the investor with a higher reward-to-cost ratio, than the purchase of these two books! Thanks, Larry, for a terrific job for all of us!
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