Discusses how to understand investment terms and techniques, develop an investment strategy, pick winning stocks, bonds, and mutual funds, make money on real estate, and build wealth with a small business. Softcover.
I didn't agree with Tyson on everything. He is more conservative than I am. I am only in my early 30s, so I believe I am young enough to take some financial risks. Also, he believes that it is a bad idea to pick your own stocks. Yet he also says that if you buy good companies and hold for several years you will always come out ahead as long as you have a diversified portfolio. I see no reason to pay a financial planner (who may put his/her own interests ahead of mine) to do this for me.
One thing I really like about the book is that he doesn't just focus on financial instruments. He also discusses investing in both real estate and small businesses. I will be buying a franchise within the next year and I found this information very helpful. Of course, I will need to do further reading on this topic.
This is an excellent book that I had a hard time putting down. If you want to learn more about investing I suggest that you start with this book. It will provide a solid foundation, and help you move onto more complicated financial books and magazines.
I feel this book is especially relevant in an environment such as today, where many have equated investing with gambling. This statement may be true, if you don't understand the rules. However, this book provides a valuable service in explaining that investing, like anything else in life, will reward you to the extent that you are willing to take responsibility and understand how it works. For those willing to do so, I can not think of a better place to start than this book.
His entire section on investing in yourself by opening a business will ring true during this recession. His guidance and opinion on this "alternative" is the most valuable section of this book.
He glosses over futures, which is considered both as an investment and a business. But the information he does speak about will help you profit from the recent moves in oil, gold, and the potential move in interest rates. ... I can't help but advocate this books tone that securities aren't quite "secure".
Overall the "Dummies" series has done it again and am proud to own several of their books.