5 comments about Cashflow Quadrant: Rich Dad's Guide to Financial Freedom.

1. The book is vital for those who want to get back on track with there financial situations, the book gives all the points of view that you might need as well as practical steps.
   highly recommend to everyone!



2. A great concept.
   
   If you have not read any of Kiyosaki's books, read this one first.
   
   I hate to use the word "paradigm" because it is often thrown around too easily and it is overused, but this book will change the way you look at your financial life.
   
   Ultimately, you will need to read additional books after this one for more indepth content, but this book will get your mind going in the right direction.



3. Like others, I do agree this book is a little repetitive. Mr. Kiyosaki does restate the same ideas he mentioned in his first book but he goes into more detail on other ideas; like how he made money on some deals. This book is meant to be a general 'coaching' and not a get rich quick seminar. So the repetitive pep talks are necessary and probably are similar in method to which his rich dad gave him. Furthermore, after a lifetime of repeating bad money habits, one needs repetition before correcting those habits. I do plan on continuing the series.



4. Outstanding book. It provides the right financial wisdom that is so desperately needed by many in this country.
   Oh, how I wish I could have had a book like this 20 years ago!
   It will make much better sense if you read the first book in the series first though, "Rich Dad, Poor Dad", if you haven't already done so.



5. Want to know why the rich get richer and everyone else seems to struggle? Is this an end all on the subject- NO it is not, as Robert himself would tell you the study of money if a lifetime pursuit.
   
   However this book does an excellent job of describing the basics of why the rich get richer- and how they do it.
   
   This book is also the first that enabled me to understand some basic accounting principles- mostly by not using numbers and formulas just some simple diagrams. Does it make you a CPA- No. But it does get a working class guy with little to no accounting knowledge the basic understanding of a personal financial statement.
   
   Robert Kiyosaki (and his advisors) write books that make what seems to be complex money subjects seem understandable. Kind of the way AOL made the internet seem easy. Most of us have outgrown AOL a LONG, LONG time ago. And you can improve your financial literacy easily with Robert and his team.

5 comments about Reminiscences of a Stock Operator (Wiley Investment Classics).

1. It clearly shows what lies ahead if your interests are in trading long term. A fascinating story with tons of pointers.



2. I have a background in finance and recently decided to get serious about trading. Most books you find will discuss technical analysis or trading psychology. All of that is good and well but this book allows you to get into the head of a successful trader and actually experience the psychology and analysis that most others talk about.
   
   Though times have changed this book will offer insights into the markets and human fallacies that no textbook can.
   
   Enjoy... I finished this book the second I picked it up in the bookstore.. I think you will too if you're interested in trading.



3. Edwin Lefevre tells the fascinating story of Jesse Livermore, a famous stock operator who time and again made and lost fortunes by speculating on the market. Its greatest value is on the insights and reasoning process behind each move and associated result. It provides good entertainment for stock investors and speculators. Highly recommended!



4. This is a powerful lesson on the importance of risk management. Learn from Livermore's mistakes. It is never okay to risk money you do need for the hopes of accumulating money you do not need. Always know your risk exposure at all times.



5. A Wall Street Classic and it does not disappoint. Published in 1923 the book continues to be one of the most heavily references books on trading and speculation. You'll learn about the early days and the history of the markets, some basic trading strategies, and most importantly: the human psychology of ups and downs of trading and how Larry Livingston (pseudonym for Jesse Livermore) dealt with it all.
   
   I'm not a trader, nor am I aspiring to become one, but this was a fascinating read and I'll recommend it to everyone without hesitation.

5 comments about Quicken Willmaker Plus 2008 Edition: Estate Planning Essentials (Book with CD-ROM).

1. The WillMaker Plus was deffinately a good investment. It enabled me to make new wills for both my wife and myself with ease. It is very "user friendly". The WillMaker Plus saved me money from the very first time I used it.



2. This product won't work on a macintosh OS w/o an "emulator" program.
   
   The manufacturer says... "If you have a PC emulator (such as either Virtual PC or Guest PC) on your Mac, you can install and use this program. Be aware, though, that this configuration is not supported by Nolo Technical Support."



3. The software was very easy to use. It provided step-by-step instructions for creating your documents. I didn't think I would use the book that came with it, but the book was very informative.
   
   I highly recommend this product to anyone looking to make their will, living will, power of attorney or other final arrangements. It is comprehensive, tailored to the state you live in, and easy to use.



4. It took me very little time to put together my will. It was so easy, almost effortless. I have two children and needed to include care information etc. for them. This book and software took care of all of my questions. A local lawyer was going to charge me $$$$ so you can imagine how good it felt to buy this package, put together an accurate and comprehensive finished will, and know I spent so little to do it! Really great.



5. This step by step software program and book make writing a will a much easier task. The book is also a great resource for answering many of the questions you might have about wills and trusts. The program also provides great one stop shopping for other important documents such as a durable power of attorney and health care directive. Highly recommend it for anyone who wants to write any of these important documents.

5 comments about Jim Cramer's Real Money: Sane Investing in an Insane World.

1. In this poor old world, we all need money to stay alive and care for our loved ones. Jim's books are a great place to start, a terrific review, and a fresh perspective on trading. Whether you trade for a living or just trying to build up that nest egg, Jim's books will help. Just don't get so carried away with money that you forget what it's really all about.



2. Very easy to understand book. The author knows the audience very well and the strong and weak points about them. He has tried honestly hard to make sure the amateur stock investors learn the tricks of the game and equip themselves with knowledge they need before venturing into a brutal game of stock investment.



3. Jim Cramer's books and tv programs provide expert help to every investor; however, as a small investor on a fixed income with small investment money available at 77 woman, I have to be very cautious with my money. I am confidence in anything that he says. If he makes a mistake, he steps up to the plate and says,"I called it wrong, let's do something about it."
   His writing and TV program are not only an inspiration to me, but have given me the confidence to influence my grandchildren to learn from Jim as I have done.
   Thanks a million,
   Love ya, Jim,
   Peggy Wildman
   Dallas,Texas 75205



4. Before reading this book I knew nothing about stock market investing. This book has so much info that I feel it is not a one time read but rather a reference book. Many terms are clearly defined and many situations in the market are clearly explained. For the first time in my life, I understand how basic options work. There is far too much for me to cover in a review. If you want to learn about the stock market, this is the book for you.



5. Really, I figured what could it hurt to read & listen. Tried all his ideas, watched his picks on TV etc. Set up HIS ideal portfolios on my trading page where I trade stocks. After 2 years what are the results? Cramer's picks as well as Vectorvest picks got CREAMED compared to MY own idiotic attempts at making money long term as well as short term.
   So, do what you like, but if ever in San Diego & you want this book? You can have mine for FREE. Do however pay attention to his common sense "get out of debt" strategy.

5 comments about The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Books. Big Profits).

1. To anyone even remotely serious about investing, this book is MUST reading. Simple to understand and very clear in its message-most folks are on the losing end of their stock investments. Very clearly Bogle makes the case for inexpensive index funds which mathematically have proven very solid returns while minimizing the tax impact, advisor fees and trading fees that every investor faces. By following his straight-forward advice, virtually anyone can overcome the failures of the vast majority of investors and ill-advice of most brokers/planners and reap solid rewards.



2. This is an excellent book for any investor. The straight common sense advice that this book provides will help everyone with their investment portfolios. The best quote from the book is "the miracle of compounding interest is overwhelmed by the tyranny of cost". Through index funds, the author explains how to cut costs and caption the return of the entire stock market. This is an excellent book.



3. Bogle presents his theory on investment and the evidence gathered over the years which backs it up. The theory is simple - own the whole market by buying index funds, OR be prepared to do a ton of in-depth research just like a full time investment advisor. He backs up this "bi-polar" recommendation through the evidence gathered on where casual investors loose out, such as market timing, advisor fees, etc.
   
   As interesting as Bogle's research is, it gets pretty tiring listening to him toot his own horn. Minus one star.
   
   Also, I would recommend borrowing / renting this book (or the audio CD). Once you understand why index funds are "the choice" for the casual investor, the book really doesn't offer any other detailed advice or re-read appeal. Your next stop should be a book such as Jane Bryan Quinn's "Smart and Simple Financial Strategies for Busy People."



4. I rec'd the book safely, in good condition, but haven't yet had a chance to read it.



5. I'm 29-going-on-30 and wishing that I had absorbed the wisdom imparted in this book when I first signed up for a 401k. But here I am, seven years later, finally having a real understanding of where I should stash my retirement nest egg.
   
   The premise behind this book is simple - index funds have proven to be the wisest vehicle to throw your money in to achieve long-term profits. Bogle does an excellent job of explaining why this is, utilizing the "humble arithmetic" behind his thesis. For those who are like my old self and unsure of the best way to invest your retirement savings, look into low-cost index funds. And don't just throw your money in there...purchase this book and understand WHY you are.

5 comments about Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets.

1. This everyman's introduction to randomness should prove interesting to everyone who invests for profit, fun or retirement. The narrative style conveys the author's point that random spikes or troughs can occur in any investment without warning and that the oft used normal curve does not necessarily model the behavior of investments. It's sort of like saying that the normal wind speed is an accurate model for what could happen in tornado alley on a specific day in the summer.
   
   That being said, there's little guidance for the investor about ameliorating the effects of "black swan" events; the best one can do is expect them and try to avoid being over-extended in yesterday's hot investment when the bottom falls out.



2. i find it fascinating the diverse reviews this book has received, it seems to have a polarizing effect on readers! for me the book was engrossing, but admittedly i am a fan of taleb's writing and philosophy of life. while he is clearly not concerned with journalistic rules he is able to communicate his point. so what if his sentence structure is not perfect. what i appreciate most about his works, fooled by randomness included is that they caused me to think, and rethink my own beliefs and perceptions about life. i felt challenged by the content and relished the opportunity to ponder paragraphs. this is the strength of his writing (in my humble estimation) to cause the reader to think. a worthy read even if you are prone to focus on the impossibly difficult particulars of writing in the english language...



3. Well, what can I say? The concept of "black swamp" function is very original and as a professional investor, I appreciate the author's insight into this critical concept to long term return. However, the whole book is about this concept and I don't learn anything new after finishing the first few chapters. Moreover, the author is a trader rather than a writer which probably explain his less-than-perfect reading style. Readers have to be prepared for his "non-linear" logic and could be very confusing at times.



4. PROS:
   * The book argues an important message (that we underestimate the role of luck in our results/outcome).
   * A few interesting anecdotes.
   
   CONS:
   * Although the author is self-deprecating at times, it smells more of false modesty rather than geniune humility (which he argues everyone should have). Most of the time (as other reviewers have noted) his arrogance comes out loud and clear, and that's annoying.
   * Disjointed style of writing. He rambles, jumps around, and writes in awkward sentences. The writing doesn't flow easily.
   * Disorganized. He proclaims that he doesn't like to use headers that tell the reader much about what is coming up. For non-fiction books, I prefer clarity, rather than cuteness.
   
   CONCLUSION: There are brief moments of brilliance and lucidness, brief moments when you think the book is really going to be worth reading, and then it quickly vanishes. Unfortunately, it's also a hard book to skim. I don't recommend it.



5. Many concepts in "Fooled by Randomness" can be mentally applied to many areas and circumstances of our lives. This book has a lot of variety both past and present that can help us in the future in how we *think* about things, our environment, and more importantly, ourselves. This review will take a different path because there have been so many written about this book already.
   
   Author Nassim Taleb believes that Randomness and luck is more of a factor regarding people's positions and successes than most folks realize. In politics, business, economics, and a other fields and areas.
   
   We often too quickly make the assumption that because of someone's superb and/or superior circumstances that these superior results are exclusively because of his/her smart mind, brilliant decisions, actions, and skills. Surely they must know something we don't? This isn't always the case. Sometimes it is, but not always. More often than we might think, it isn't. I see the author's repeated points that we as humans, underestimate the odds and occurrences of Randomness. But I do think diligence, planning, and acumen are also highly prevalent in many successful things we do, in life. It you're good, you'll do better than someone who isn't, in anything. Common sense is a critical factor, too. Our choices also obviously affect what happens to us, in what we passively receive.
   
   All of us can recall times when we were given credit for something that was in all honestly, more the result of fortuity than our own doing. Do we often openly admit it? :) I do believe, that most of one's achievements is because of hard work, skill, planning, and yes luck. But for some of us, in certain situations, luck is the key reason, and there's nothing wrong with this. Those of us that have been the beneficiaries of luck should enjoy it, use it to our advantage, and perhaps most importantly, realize that we've received it.
   
   Within the first couple of pages a detailed description lures the reader: the quick-topping Ferrari, screeching to a halt. Underlings immediately jump, scramble, and run to park the car as its owner vacates and bolts to the Trading Floor. Being a former trader, there attention paid to the trading world in FBR (Fooled by Randomness).
   
   One of the many real-life examples and anecdotes Nassim Taleb noted was the topsy-turvy rise and crash of individuals in the world of Bond Trading: A Bond Trader named "Nemo" was envious of his 'more successful' Chicago neighbor "John the high-Yield trader," who lived right across the street. Nemo had a 14 year track record of solid returns based on careful assessments of risk. Nemo was a long-term survivor of the Bond World and had a solid personal financial base he'd built up for him and his family. Across the street, John was boorish, loud, show-offy. He loved to flaunt his toys. His wife was arrogant, and pseudo-high society. John's luck - his stint with randomness eventually ended, and he crashed. Karma....
   
   Over the years as we get older we observe our circumstances, our environment, our peers, and our peers' circumstances in relation to *ourselves.* In the chapter, "If you're so rich why aren't you so smart?" we see the randomness of the social pecking order.
   
   The world has many one hit wonders in politics, business, music, film, etc. And when the Random opportunity or luck of the one-hit wonder appears, people should take advantage of it. (If, they can recognize it.) Because if it's luck or randomness, it won't last forever.
   
   
   Only a few times (not often) throughout this book, I had to re-read or re-scan a sentence or group of sentences to get the point Taleb was making. But the writing is good enough, to the point, and succinct. Readers should note the author is not a native English speaker and being a Mathematician, the author is likely left-brained. So readers, go easy. I do believe however, this book is decently written.
   
   Taleb lists some of the common traits listed of people who are the beneficiaries of Randomness but don't realize it. Instead, they think their situation is the result of mostly themselves, their decision-making, and actions.
   
   The Confusion Index:
   
   The Confusion Index has several terms for people who assume results are because of "vision," "excellent strategy," and "brilliance." This is often the interpretation of past results. It's pretty easy to interpret past results, isn't it? It's easy to be a Monday Morning Quarterback. This is called "Hindsight Bias." Have you ever heard "It was so obvious" after the fact? Things appear more predictable after the fact. Some concepts below in the index:
   
   Luck vs. Skills
   Randomness vs. Determinism
   Probability vs. Certainly
   Belief, Conjecture vs. Knowledge, Certitude
   Theory vs. Reality
   Anecdote, Coincidence vs. Causality, Law
   Forecast vs. Prophecy
   
   My Favorite Chapter: If you're so smart why aren't you rich?
   
   Some of the many great chapters and sub-chapters:
   
   Gamblers' ticks & pigeons in a Box
   You should be dead by now
   Placebo Investors
   The rare-eve fallacy: the mother of all deceptions
   Survivorship Bias (one of my favorite sub-chapters)
   
   Don't be fooled. This is....a great book.

5 comments about The Richest Man in Babylon.

1. Books that present an effective common sense approach to financial literacy are always in demand. The Richest Man in Babylon falls into this category as a book whose principles are conventional yet significant.
   
   Save ten percent of your income, constantly analyze and cut your expenses, guard your investments, obtain all necessary insurance; all these principles will appear obvious in nature, but this should not discount the value of the book. The Richest Man in Babylon provides a resounding message tucked within short historical anecdotes intended to ensure this advice takes hold of the reader. Saving ten percent of your income is not an overwhelming concept, yet what percentage of society practices this from early in life? Reading this book will afford the reader a more lasting motivation to begin such plans and to stick with them.
   
   The Richest Man in Babylon alone will not give you wealth, but it will provide you with the financial pillars permitting you to organize your life for acquiring wealth.



2. During the late 1920s, writer and entrepreneur George S. Clason created a series of simple parables about the supposed financial "secrets of the ancients." He compiled these tales, set in Babylon some 8,000 years ago, into an entertaining yet instructive book on becoming wealthy. In the 1930s, during the worst of the Great Depression, and for decades after, readers embraced Clason's engrossing, elegant little page-turner. They learned of wise Arkad, the richest man in Babylon; of Dabasir, the slave who became a wealthy camel trader; and of Sharru Nada, the rich man who learned about working hard when he was just a youth. Each universal parable teaches invaluable lessons about wealth, how to attain it, nurture it, protect it and sustain it. These stories also convey worthwhile lessons about life. getAbstract understands why Clason's magical little book has become such an enduring classic. If you read it, you will find that you can put its simple yet sensible lessons to work. Clason calls these lessons the "wisdom of the ages" and the "fixed stars that shine." His common sense advice about wealth can make you rich in more than money.



3. I highly recommend the AUDIO MP3 version of the Richest Man in Babylon The Richest Man in Babylon



4. Wealth Odyssey: The Essential Road Map For Your Financial Journey Where Is It You Are Really Trying To Go With Money?
   
   What are you really trying to do with your money? This book has answered this question for decades! If you think everything you earn is yours, think again. How do you get ahead financially - the fundamental ways are described here. So basic that most people miss these nuggets of "how to." This is a book that gives the big picture of why you should manage your finances with an overall philosophy - that of wealth building rather than simply trying to just make money.



5. This is the book for anyone looking to improve themselves personally and/or financially. A must read for anyone graduating high school or college.

5 comments about Fooling Some of the People All of the Time: A Long Short Story.

1. This is a complex story of hedge fund manager, David Einhorn, vs Allied Capital. Mr Einhorn wants corporate accounting transparency; Allied wants good quarterly numbers. The rules keep changing. The SEC looks the other way. How well the company is doing depends on who you ask.
   It takes a clear head to follow the details of Allied's accounting but you get the point. Reading about the Detroit area operations of one of Allied's investments, BLX (Business Loans Express), sounds like a Nigerian scam. The reader wonders why no stock analyst or government agency notices this or even cares when it is brought to their attention. This isn't Nigeria, this is happening in the USA. Luckily Mr. Einhorn is persistent and hopefully for investors he will keep it up.



2. Overview:
   David Einhorn, founder of a successful Wall Street hedge fund, has written a book which describes the controversy surrounding David's hedge fund selling short Allied Capital. While David makes some very damning points about Allied's management, he does not prove his central thesis, namely that Allied engaged in fraud. Despite this flaw, the book is still a worthwhile read.
   
   Background
   David's conclusion about ALD were based on his previous experience shorting Sirrom, a company that *was* a fraud and subsequently went bankrupt. Sirrom was in the same industry as Allied, namely loans to small businesses. David concluded that ALD must be a fruad since they, like Sirrom, did not write down the value of troubled assets in a timely manner and management was less than truthful when confronted with this fact (pg. 52). Referring to ALD's managers, David writes "people who are willing to lie about small things have no problem lying about big things" (pg. 64). The rest of the book, almost 300 pages, is David's attempt, unsuccessful in my estimation, to substantiate this claim.
   
   Why "Fooling..." is Worth Reading
   Despite the fundamental flaw of stating a thesis that he then fails to substantiate, "Fooling..." is still a worthwhile read for four reasons:
   1) David has made a lot of money, and his investment methodology is explained in detail. This is unique, and worthy of serious study.
   2) The book documents the inability of regulatory authorities to protect investors from dishonest management practices. Very sobering. Allied did engage in a number of unauthorized accounting practices that victimized it's investors, and none of it's managers were ever punished. In fact, they got rich at their investors expense.
   3) It shows that even superstar investors are human. On display is how a very rich man's obsession with proving he is right drove him to stick with a losing position, pouring time and resources into what became a personal crusade. I have made this mistake on a much smaller scale, and I imagine most investors have. Obviously, the book did not intend to teach this lesson, but there it is.
   4) Allieds is a "Business Development Corporations" (BDC), and the book explains how BDCs operate and make their money. David opines that BDCs are similar to junk bond funds, but are riskier (pg. 48). BDCs in general are very lucrative and pay high distributions when the USA economy is doing well, and tend to lose a lot of money during a recession. There is a lot of info here that investors can put to work.
   
   Synopsis of Events:
   David Einhorn, who is about as successful as a man can be on Wall Street without being Warren Buffet, concluded that Allied Capital is a fraud. He invested almost 8% of his hedge fund selling ALD short (he profits if ALD goes down, loses if it goes up). He then proceeded to try to get regulatory authorities, including the SEC and Eliot Spitzer (at the time the NY Attorney General) to investigate improper practices at Allied. For his efforts, he got investigated himself by these authorities. He recently published "Fooling Some of the People All of the Time" to prove he is right, and the rest of the world (SEC, financial press, investors, the stock market) are all wrong. David calls ALD a "ponzi scheme" (pg. 330), continually raising new capital to pay the dividend. While this claim should be easy to substantiate, no evidence or proof of any kind is offered. David predicts that eventually, ALD's fraudulent practices will cause the demise of the company. When the book was published, despite 6 years of intense effort on David's part to expose ALD, he lost money on his position (when you factor in dividends which he had to pay having shorted the stock).
   
   Epilogue
   Today, 8 years after his accusation were first made, ALD is still in business. While it's stock price has under-performed the market, when you factor in the dividends (actually tax distributions) it has been a pretty decent investment. It is hard to imagine how a company that systematically defrauded it's investors could survive 8 years of constant hostile scrutiny from a smart and rich hedge fund, paying hefty dividends the whole time. If it was a ponzy scheme, it should have imploded years ago. As far as I am concerned, this fact, combined with David's lack of hard evidence, disproves his thesis.



3. This is brief history of the dispute between David Einhorn, founder of Greenlight Capital, and Allied Capital (stock ticker ALD). Mr. Einhorn details his research into ALD that culminated in a speech he gave at a charity event. Since the speech ALD has been attacking not just Einhorn, but everyone and anyone who has said anything bad concerning their company.
   
   Mr. Einhorn details the lack of inquisitiveness on the part of the financial reporters and stock analysts who gave, and most who continue to give, ALD passing grades without a serious look into the financials. He also tells of the lack of responsiveness from the federal government to stop BLX (Business Loan Express, a company owned by ALD) from bilking the taxpayers out of hundreds of millions of dollars in bad (fraudulent) loans. And for all of his effort Mr. Einhorn was repaid with personal attacks. Since I started reading this I have looked into this a bit and I have not been able to find a single credible source to discredit what Mr. Einhorn has said about ALD. Despite what some may believe blogs and online forums are not credible sources, they are just opinions thrown out for the masses to read.
   
   I found this to be an excellent book. However, I would not suggest buying it for the explicit purpose of getting some investing insights into the market. That is not the intention of this book.



4. Great book.
   Einhorn does an excellent job of laying out his bear case on ALD which, after having read the book, completely stuns me to know that this company is still a going concern. It's unfortunate to see just how biased our regulatory infrastructure is and the institutional bullishness that permeates every aspect of our capital markets is a sad development.
   Fooling some of the people all of the time is a good book and a fascinating read. I was amazed at some of the things Mr. Einhorn had to endure just because he dare speak his mind and back up his assertions with cold hard facts. This book affirmed many things that I've known about our capital markets, and many of those things are not pretty.



5. I picked this book up as a light summer scandal read and it turned out to be anything but. This is a tremendous book. As someone with limited knowledge of the world of investing, I was a bit behind the curve in muddling my way through what is a very complicated story told using the language of the world of finance, but the author took the time to explain the concepts he used throughout and I learned an incredible amount from this case study. I imagine it will be one used in many academic Business/Finance classes. The best part of the book is that it paints a very vivid picture of life on the "inside" of the world of finance to a broad audience that typically is limited only to an outside perspective. However, the story is quite unsettling as it presents a scenario where the system (SEC, the media, Department of Justice, etc...) fails to protect investors and taxpayers and instead looks the other way while politically well-connected corporate bigwigs work the system and amass millions in part by defrauding said investors and taxpayers. I came away from the story depressed and appalled but ultimately with a better understanding of some of the reasons the country is likely facing the mess we are today. Are you a taxpayer? Do you have a bank account, an IRA a 401K or plan to fund part or all of your retirement through some sort of investment? If so, you will benefit from reading this book. Bottom line, it's not an easy or pleasant read, but it's a must read. Think of it as a good investment. :)

5 comments about The Smartest Investment Book You'll Ever Read: The Simple, Stress-Free Way to Reach Your Investment Goals.

1. I don't think I've ever read a simpler book on investing. I think I finished it in two hours or less, and though it obviously lacks a lot of detail, I can't say there's anything really important that was left out.
   
   Solin spends a lot of time describing investment traps to avoid, such as active management and other, high-cost strategies. Then he spends a very few pages describing a very simple way to construct a diversified, low-cost portfolio of mutual funds. He suggests specific allocations in just a handful of specific funds in specific fund families for specific types of investors. Literally, all you have to do is pick which kind of investor you are and then just follow the allocations Solin suggests. Rebalance once or twice a year, and you're set. Even my sister could do it in 30 minutes or less per year.
   
   It may be hard for people to believe that such a simple strategy could work, but decades of research show that a simple, low-cost, diversified portfolio outperforms the vast majority of actively managed funds, and with relatively little risk.
   
   The advice to "Keep it simple, stupid!" was never so appropriate.
   
   I highly recommend this book.



2. I absolutely enjoyed listening to it. It was a little bit boring in the beginning but at the end Don Solin gives you advise what to do. I will take his advise once I have some money saved up and invest it to see if it works! I sure it does!



3. The Smartest Investment Book You'll Ever Read (Unabridged)This book is for certain investors who do not want to
   be daily envolved in investing.It is easily understood and can have
   real meaning for that group of people



4. Most financial books are more complicated than Japanese arithmetic. This is actually understandable and the advice is rock-solid. If you have only one book on investing this should be it.



5. Sometimes the simple approach turns out to be the tactic offering the most beneficial results, and as Solin describes in this book, that is certainly the case with long term investing. Unfortunately, Solin's book, also simple in its approach, does not have the luxury of this principle.
   
   This book does not present any profound strategies or anything that will offer you advice regarding short terms gains. Solin spends the full length of this book explaining in detail why hyperactive brokering does not work and why indexing is the proper advice for long-term growth and returns. Although the advice in this book could be easily condensed, this is not to say Solin is long winded; he merely spends a lot of time on the details of why managed funds are generally inferior.
   
   The advice is sound and well described; however, the material in the book merely regurgitates a common and well known theme in investing; the vast majority of managed funds statistically do far worse than indexed funds over the long term. I would imagine the book would be worthwhile to anyone brand new to investing, but considering the title, this book is far too thin to come remotely close to being the smartest investment book available.

5 comments about Jim Cramer's Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer).

1. I brought this book for my Husband and myself because we are interested in doing stocks online. We really like it because it's easy to read and to understand.



2. In Stay Mad For Life Cramer teaches you all the basics you need to plan for the future and how to be prepared for retirement. However, this book will not help you learn how to trade stocks. For more information specifically on this topic refer to his other books.



3. This is a great book for new investors. It covers a lot of information and it's very useful!!! Save yourselves now from financial failure in the future.



4. This book is a rehash of what was discussed in his older material so far (Jim Cramer's Real Money: Sane Investing in an Insane World and Jim Cramer's Mad Money: Watch TV, Get Rich)
   I was given the physical copy of this book and am having it read to me via the software set ups described in Don't Like to Read, Then Don't, Listen!: How to Turn Any Type of Text Into Audio Files That Can Be Read to You!. This is an easy way to turn a physical book into an audio book.



5. Stay Mad For Life is a great financial education experience. This book covers many issues that are never discussed with most people. I wasn't familiar with the different types of disability insurance, and I didn't know the best way to take advantage of retirement plans. However, the first part of the book did seem repetitive about some points, and I did find the last four chapters much more interesting. But, since nothing in the first half of the book is mentioned to students in high school or college, I think it is important information as well.
   
   I enjoyed the way Cramer presented his twenty stocks of the future. I thought it was fun and clever, almost like he was on the Price is Right and was presenting a showcase. Additionally, since I don't do very much homework, I was glad that he presented mutual funds and other investment ideas that he recommends for people who don't have time to pick individual stocks. That is what I like about his novels, he tells how to do something, rather than what he has already done. I found this novel very helpful, if less interesting than his previous novels.