• Payback Time

  • By: Phil Town
  • Narrated by: Phil Town
  • Length: 5 hrs and 7 mins
  • Abridged Audiobook
  • Release date: 03-02-10
  • Language: English
  • Publisher: Random House Audio
  • 4.5 out of 5 stars 4.6 (43 ratings)

Regular price: $23.93

Membership details Membership details
  • A 30-day trial plus your first audiobook, free.
  • 1 credit/month after trial – good for any book, any price.
  • Easy exchanges – swap any book you don’t love.
  • Keep your audiobooks, even if you cancel.
  • After your trial, Audible is just $14.95/month.
Select or Add a new payment method

Buy Now with 1 Credit

By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice. Taxes where applicable.

Buy Now for $23.93

Pay using card ending in
By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice. Taxes where applicable.

Add to Library for $0.00

By confirming your purchase, you agree to Audible's Conditions of Use and Amazon's Privacy Notice. Taxes where applicable.

Publisher's Summary

Eight Steps to Outsmarting the System That Failed You and Getting Your Investments Back on Track
Phil Town's first book, the number-one New York Times best seller 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 its 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.
©2010 Phil Town (P)2010 Random House
Show More Show Less

No Reviews are Available

Customer Reviews

Most Helpful
5 out of 5 stars
By Paula Yourell on 07-10-16

Great read

Very inspiring book and author. Easy to follow. Hope to put the advice into practice now

Read More Hide me
See all Reviews

Customer Reviews

Most Helpful
5 out of 5 stars
By Amazon Customer on 01-22-18

Great Book

I liked the fact that Phil has made this easy enough to understand if you put the time and work in.
I would recommend this book to anyone looking into long term investing and wants to be the best possible investor they can be.
A lot of the facts are American exclusive towards the end of the book however.

Read More Hide me
See all Reviews
© Copyright 1997 - 2018 Audible, Inc