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Title: The Successful Investor Today: 14 Simple Truths You Must Know When You Invest by Larry E. Swedroe ISBN: 0-312-30979-1 Publisher: Truman Talley Books Pub. Date: 24 September, 2003 Format: Hardcover Volumes: 1 List Price(USD): $25.95

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Average Customer Rating: 4.82 (11 reviews)

Rating: 5
Summary: The best investment approach may also be the simplest.
Comment: The investing approach espoused by Swedroe is actually among the simplest and least time consuming approaches available - that of passive index investing with occasional portfolio rebalancing. Yet he doesn't recommend it because it is simple, but because the research supports it as the best approach to yield the highest actual returns over time. The caveat "over time" is the key, which is what most people are interested in - not short term run-ups followed by disappointing losses. And "actual returns" since many people fail to consider trading costs, taxes, and other considerations that reduce their returns. One interesting study alluded to in this book and expounded on in his other books relates to the Value Line survey, which demonstrates market-beating returns and is highly rated in the Hulbert newsletter. Yet after considering trading and other costs, the returns underperform the market. Reality often stands in stark contrast to what we want to believe.

Rating: 5
Summary: No More Gambling
Comment: One day in Las Vegas, I realized the best way to make money with gambling is to own the casinos. I never gambled again. Even better, I later realized the best way to make money with stocks is to be a broker, write an investment newsletter or manage a mutual fund. After all, if these guys know so much about investments, why are they hawking their expertise rather than just making a personal killing in the market?

After reading "The Successful Investor Today," I realized I was right! The odds are against you as a stock picker or mutual fund investor. Every time you win, you lose. You whet lots of little beaks every day. The behind-the-scene guys take their cut whether you make money or lose money.

Fortunately, your odds of winning tilt to your favor when you invest in the planet's commercial future. Larry Swedroe explains how you can do this without whetting the experts' beaks.

I've read several investment books and this was by far the best. It makes the most sense and explains why investing is so hard.

I wish the book had been a little more specific on how to work out your own allocations and where to buy some of the international investments. I was going to give the book four stars, but the author quickly answered my email questions and I'm in business!

Rating: 5
Summary: Important Information for the Public Investor
Comment: This excellent book sums up the case for a winning stock market strategy: Don't waste time, effort, and money trying to beat the market. Adopt a strategy of indexing to accomplish two goals: sharply reduced trading expenses and average market performance.

Since those who try to beat the market incur large expenses with their research and trading costs, indexing saves those costs and therefore provides superior stock market returns. Don't let Wall Street's hype fool you and don't pay huge fees for underperformance.

This book is recommended for anyone who wants to achieve better results when investing in the stock market.

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