Payback Time: Making Big Money Is the Best Revenge! (Hardcover)

Payback Time: Making Big Money Is the Best Revenge! (Hardcover)







Authors Phil Town

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Product Description
Phil Town’s first book, the #1 New York Times bestseller 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 trading without understanding investing—for the long term – he created 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.

But it’s 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.

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 investing) in the right businesses at the right time -- rules that will ensure you make the big money.
Product Details
# Hardcover: 288 pages
# Publisher: Crown Business (March 2, 2010)
# Language: English
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Reviews Payback Time: Making Big Money Is the Best Revenge! (Hardcover)

Wow, what a great read. Payback Time is simply awesome. Phil explains things so that anyone can understand his strategies. This book is a must read if you want to take control of your own investment account as well as hold your broker more accountable for his/her recommendations.