Steven R. Selengut states that the purpose of this book is to “teach you how to use the process to your advantage – how to keep one step ahead of the manipulative Wall Street menagerie and use them as surely as they try to use you”.
To this end, the author has put together this investing manual. The book covers many subjects like:
How to develop the asset allocation plan that is right for you.
These are just a few of the subjects covered in this book.
How to identify quality investments
Why income is the only real hedge against inflation
Chapter I is titled “Wall Street 101”. The author states that when we come out of high school or college we have no knowledge of securities, investing, retirement planning, etc. I think you will agree that this statement is absolutely true. In this chapter, he gives us a detailed description of the basics involved.
The author then goes on to discuss “The Big Three” which are quality, diversification, and income generation. He refers to these topics as the three principles of investing.
In the next few chapters, the author discusses many other subjects such as buying low and selling higher.
I’m sure we have all received a call from a brokerage house telling us about a “hot stock” that we should buy because it is really going to go up in price. You will be surprised when you hear what the author has to say about this! I know I fell for it a time or two.
This book is informative and is written in a manner that is easy to understand. If there is a word or two you don’t understand, the author provides a glossary. There is also an index provided; i.e. if you want to know more about “asset allocation”, it will give you all the pages referring to this subject. This book is a must read for anyone who is interested in investing. Be sure to read this book first before you invest.
REVIEWED BY NANCY EATON
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