- Paperback: 85 pages
- Publisher: Dan Goldie Financial Services (Aug 15 2010)
- Language: English
- ISBN-10: 0982894708
- ISBN-13: 978-0982894705
- Product Dimensions: 22.6 x 14.8 x 1 cm
- Shipping Weight: 204 g
- Average Customer Review: 4.2 out of 5 stars See all reviews (4 customer reviews)
- Amazon Bestsellers Rank: #96,795 in Books (See Top 100 in Books)
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Product Details |
Product Description
Product Description
The good news is that people today expect to live longer, healthier lives. The bad news is that many of us will not have enough money to retire comfortably. The solution to this problem is wise investment of the wealth we accumulate during our working lives, but the unfortunate truth is that when it comes to investment, many of us don't know where to start. Daniel Goldie and Gordon Murray aim to change the way we think about investing and influence the way we select financial advisors, invest our money and assess the results. In THE INVESTMENT ANSWER they provide readers with the necessary background to make the five key decisions that have a significant impact on the overall investment experience so that they will never again be afraid of financial markets or uncertain about what to do with their money.
--This text refers to the
Hardcover
edition.
About the Author
Daniel C. Goldie is president of Dan Goldie Financial Services, LLC, a registered investment advisory firm. A former professional tennis player and Wimbledon quarterfinalist, he has been recognized by Barron's as one of the top 100 independent financial advisors in the United States. He graduated from Stanford University and has an MBA degree from the Haas School of Business, University of California at Berkeley.
Gordon S. Murray spent more than twenty-five years working on Wall Street, primarily at Goldman Sachs, Lehman Brothers, and Credit Suisse First Boston in a variety of institutional sales and management roles. After his Wall Street career, Murray worked as a consultant with Dimensional Fund Advisors. He is a graduate of the University of North Carolina at Chapel Hill, and earned an MBA from Columbia University.
--This text refers to the Hardcover edition.
Gordon S. Murray spent more than twenty-five years working on Wall Street, primarily at Goldman Sachs, Lehman Brothers, and Credit Suisse First Boston in a variety of institutional sales and management roles. After his Wall Street career, Murray worked as a consultant with Dimensional Fund Advisors. He is a graduate of the University of North Carolina at Chapel Hill, and earned an MBA from Columbia University.
--This text refers to the Hardcover edition.
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Most helpful customer reviews
8 of 8 people found the following review helpful
5.0 out of 5 stars
For the beginner investor,
This review is from: The Investment Answer: Learn to Manage Your Money & Protect Your Financial Future (Paperback)
This book is 69 pages in total so don't look for any in depth discussions on any topic. It is a general guide for those starting out in the investment world. It is light reading and gives very basic explanations in each chapter.The first chapter deals with using brokers and what type of broker might be best for you. Chapter two lightly touches on asset allocation, explaining the relationship between risk and return. Chapter three is a short chapter, only five pages, on diversification. Explains about having a mix of assets in your portfolio. Again very basic explanation. Chapter four talks about the difference between "active investing" verses "passive investing". Chapter five is about rebalancing your portfolio. Chapter six tries to explain how to gauge the performance of your portfolio but fails to do so. Chapter seven touches on hedge funds, private equity and commodities. Chapter eight is a pep talk about how everyone can succeed at investing. If you already have basic knowledge of investing in the market then look for another book. If you are starting out then this book will give you a good foundation.
1 of 1 people found the following review helpful
5.0 out of 5 stars
Great overview for investors,
This review is from: The Investment Answer: Learn to Manage Your Money & Protect Your Financial Future (Hardcover)
This book is a very straight forward read. This will be a rather lengthy book review but I truly believe most frustrated investors could learn from this 70 page book.Being in the retail financial industry I live this book every day. I truly believe these 5 main questions (or decisions) the authors touch on are the most important decisions people need to make. Once these decisions are set most people should focus their time and attention on what is truly in their control ' HOW MUCH MONEY AM I MAKING AND HOW MUCH MONEY AM I SPENDING!!! Here is a summary of the 5 questions and a little take on each. 1) Do it yourself or get help? It always amazes me to think that the average Joe can do better in their spare time then most financial professionals. 2) What should your asset allocation be? Percentage of Stocks, Bonds and Cash. These are your major broad choices and as stated in the book come with varying degrees of risks and rewards 3) What asset classes should be includes within the asset allocation decision in question 2? Setting a detailed diversified target portfolio takes work and a special set of skills. I have personally worked with PhD's and many industry professionals much smarter than myself to understand this delicate decision. This is really difficult to come up with on your own and almost impossible to adhere over time. 4) Passive or active management? This is the investment product decision. Active management is the only way to beat the passive index benchmarks but takes so much work to remain on top of your manager selections that it is seldom worth the time. You better make sure somebody is breaking down each investment product to the sum of its parts and ensuring they continue to match those decisions from question 2 and 3. Many industry professionals don't even try to do this so pretty much impossible for the do it yourselfer. 5) Rebalancing back to your decisions in questions 2 and 3? This is the place where most investors and industry professionals fall short. All is lost if you do not rebalance ' what was the point of the previous 4 decisions if you do not rebalance. This book is a great place for most investors to start and lots of retail investment professionals should check their egos as they too could learn something from such a quick and easy read. You will not find the holy grail of investing in this book but it may just change how you look at investing. This book was recommended to me by a great client and I am in turn recommending this book to you.
1 of 1 people found the following review helpful
2.0 out of 5 stars
The Investment Answer: Learn to Manage Your Money & Protect Your Financial Future,
This review is from: The Investment Answer: Learn to Manage Your Money & Protect Your Financial Future (Paperback)
Very compact book that does not contain many hidden truths -considering the author worked in financial investment community for most of his life - short on "Answers".
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