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This books starts off with the premise of teaching novices the fundamentals of finance to gain financial independence.
Yes, it degenerates into quick-rich schemes mainly by short-term stock trading and real-estate using overly-simplistic techniques that have no credibility of working in real life with taxes, transaction costs and opportunity costs accounted for.
The authors tout their seminars, books and newletters ... something that always disgusts and offends me.
The promise of gaining financial indpendence in as little as 6 months is unfounded and unsubstantiated.
Avoid this book get better ones such as:
- Richest Man in Babylon
- Rich Dad Poor Dad
- The Zurich Axioms
30 of 39 people found this review helpful
There are so many things this book offers. What I liked best was position sizing; basically protect your account from draw down. I also liked their informative chapter on mutual funds; these funds cannot get out of bad trades because of their large influence in the market so they can't be fully trusted with your money. I highly recommend this book but I would also strongly recommend the book High Probability Trading and another good technical analysis book before trading. Paper trade first and follow green light, yellow light, red light rules. Good newsletters like those found at Stanberry and Associates are great values. Buy this book, it is a great start for new investers.
5 of 8 people found this review helpful
The book was ok but nowadays you're looking for something fantastic and this book didn't tick all the boxes for me.
Some good tips but it sounded rather hit and miss - the strategies were ok but not as solid as I though they would be.
I think they work well in a bull market but based on what Robert Kiyosaki was talking about in his book Conspirocy of the Rich - assuming what he says is a true reflection of current and future economy trends - I'm not sure if you're gonna be able to react fast enough to save yourself from potential financial ruin - (based in this information alone).
Mabe a 21st century revision is overdue from these guys.
5 of 6 people found this review helpful