Payback Time! by Phil TownDon’t get mad, get even…
Phil Town’s first book, the #1 New York Times bestseller Rule #1, was a guide to stock trading for people who believe they lack the knowledge to trade. But because many people aren’t 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 it’s worse than that. The net effect of hitching your wagon to mutual funds is that over a lifetime they’ll 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. It’s 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.
From the Hardcover edition.
Payback Time Intro
Read in: 4 minutes Favorite quote from the author:. More than that, it sure is a convincing argument to listen to his advice, which he gladly shares with those, who choose to listen. Here are 3 lessons from Rule 1 to help you start investing without overthinking:. If you want to save this summary for later, download the free PDF and read it whenever you want. Download PDF. But he sure acts as if he did. Your investment into a business is a vote for that business to continue its practice as it operates today.
Mar 02, Minutes Buy. Mar 02, ISBN Mar 02, Minutes. He is the classic Everyman, albeit one whose education and resources were more limited than most…. More about Phil Town.
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Lesson 1: Always imagine you’re buying the whole company, not just some shares.
Millions of people have done everything recommended by professional financial advisors only to see their retirement funds dwindle or even disappear entirely in the global financial crisis. Does anyone really still believe that methods such as 'buy and hold' investing will protect them from risk? In Payback Time , Phil Town - author of New York Times bestseller Rule 1 - demonstrates the investment tactics that will enable you to ensure a safe and profitable financial future for yourself. Calling on time-proven strategies used by the world's best investors, he shows how you can reverse your nest egg's downward direction by purchasing the stock of solid companies at windfall prices - prices that can only head in one direction: up! The time has never been better for making money in the stock market - if you know how. Phil Town. Following several years with the Special Forces during the Vietnam war, Phil Town returned to the United States and supported himself working seven months a year as a river guide in the Grand Canyon.