Payback Time

  • by Phil Town
  • Narrated by Marc Cashman
  • 9 hrs and 2 mins
  • Unabridged Audiobook

Publisher's Summary

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 arent 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 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.


What the Critics Say

“An incredible book that will teach you how to achieve financial independence faster than you ever thought possible.” (Brian Tracy, President, Brian Tracy International)


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Customer Reviews

Most Helpful

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.
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- Pat

must have

if you like rule #1, then you must buy this book
the idea stockpile makes you feel much better when in down market because you can build your portfolio in a much lower price
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- lev

Book Details

  • Release Date: 03-02-2010
  • Publisher: Random House Audio