Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week! by Phil Town
This book reveals how Phil Town, a self-made millionaire, managed to turn an investment of $ 1,000 into $ 1 million in about five years, and how he continues to earn millions more and more.
Philip Bradley Town (born 21 September 1948) is an American investor, motivational speaker, and author of two books on financial investment that were New York Times best-sellers.
Phil Town is a very wealthy man today, but he was not always. In reality, he was living on a salary of $4,000 a year when he was started off by timely guidance on a road to investing in self-education that exposed what the real “rules” are and how they work for him. Thanks. Of course the most important of these is “rule # 1”: “do not lose money.” The other rules are: Don’t Diversify … Think like a landlord, not an investor … Never, never seduce yourself into thinking the market is efficient. Town also firmly believes in “jockey bets” and trusts managers who have proved financially themselves.
Town not only presents fresh methods for determining who the really trustworthy managers are, but he also teaches you how to check whether they genuinely believe in the companies they operate.
Before I became “Phil Town, instructor of investment concepts to more than 500,000 people a year,” I was pretty much as you: someone who saw the individual stock investment as too difficult to do. As a guy who barely made a living as a river guide, I considered the entire process quite impenetrable and I was convinced you had to make it a full-time job to do it right. Me, I was keener to have full-time fun.
And I was tempted to do what you probably are doing right now: to let some mutual fund manager worry about rising your nesting egg. Let me tell you why you might one day be absolutely miserable by this decision.
The truth is, the mutual fund industry is likely to face twenty years of flat returns soon due to normal market cycles. That means if you have your nest egg tucked away in funds — especially the sort contained in most of the 401ks — your egg won’t get much bigger than it is now. Translation: Get ready for a retirement filled with lots of cold cuts, lots of quality TV-watching time, and a place to live which is too small to accommodate your visiting children.
I came to invest as a person who wasn’t great at math, had zero extra cash, and wanted a life — not three extra hours of work to be done every day. Luckily I had been introduced to The Rule.
Rule # 1, as you’ll be told by famed investor Warren Buffett, isn’t losing money. In an interesting method, I’m going to explain in this book, not losing money contributes to more money than you ever thought. All it comes down to is just purchasing company shares when the figures — and intangibles — are on your side. If that sounds too good to be true, it’s because I’ll introduce you to the mindset that doesn’t lead to bets but to certainties. Believe me, if there were something genius-level about this, I would still be a river guide accumulating joblessness for a long time.
Part of the secret is to think of yourself as a business owner, rather than an investor in stocks. The part is taking advantage of today ‘s latest Internet resources, which dramatically decreases the “homework factor” (we ‘re talking about a few minutes, tops.) The part is understanding the only five numbers that really matter in valuing a future investment. And part — perhaps the most important part — is using the risk-free approach of Rule # 1 to consistently pay a mere 50 cents to buy a business worth a dollar.
What I’m not going to waste your time with is fluff: lots of abstract parables that remind you of what you already know and leave you right where you began. This is the real deal, folks: a one-size-fits-all, one-size-fits-all solution that will allow you to retire ten years earlier than you’ve expected, with more comforts than you’ve ever dreamed.
By far, the most divisive claims of the audiobook would be that giant 401(k) style mutual funds can’t help but go back to the mean, and the mean may be very disappointing indeed over the next twenty years. There is a very real chance that in the next few decades, a 401(k) investor might see their holdings not grow at all. Fortunately, Town’s stock-picking strategies are intended to walk the do-it-yourself cycle of investing phobes, equipping them with the resources they need to make quantum leaps into financial stability.
“Rule # 1,” says something new, and in a way that every listener can understand it says it.