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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 its worse than that. The net effect of hitching your wagon to mutual funds is that over a lifetime theyll 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. Its 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.
Customer ReviewsMost Helpful
By Pat on 04-26-11
You will need the book!
This book has a lot of good content regarding calculations and formulas. You would want the book to help out.
One big problem with this audio book is the narrator. So dry. Sounds like you're in a boring lecture. Makes you not want to listen to this book. Phil Town, of course, does a better job narrating his own material.
2 of 3 people found this review helpful