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Payback Time: Making Big Money Is the Best Revenge!
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Product Details
Language : English (Unknown) , English (Original Language) , English (Published)
Number Of Items : 1
NumberOfPages : 288
Media : Hardcover
Package Dimensions (in) : 1.1 x 6.1 x 9.3
Author : Phil Town
Catagory : Book
Sales Rank : 18977
EAN : 9780307461865
ASIN : 0307461866
Release Date : March 2, 2010
Language : English (Unknown) , English (Original Language) , English (Published)
Number Of Items : 1
NumberOfPages : 288
Media : Hardcover
Package Dimensions (in) : 1.1 x 6.1 x 9.3
Author : Phil Town
Catagory : Book
Sales Rank : 18977
EAN : 9780307461865
ASIN : 0307461866
Release Date : March 2, 2010
Technical Details
ISBN13: 9780307461865 Condition: New Notes: BUY WITH CONFIDENCE, Over one million books sold! 98% Positive feedback. Compare our books, prices and service to the competition. 100% Satisfaction Guaranteed
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Product Description
Don’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.
Don’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.
Customer Reviews
(38 customer reviews)
Pay Back Time Delivers, 2010-07-19
Phil Town delivers investing information in an interesting and easy to follow way. I truly enjoy reading his books. He's a great public speaker, too, and his books are written as though he were talking to you. His snippit stories mixed into the informative chapters break up the lessons, making it even more enjoyable. For the average person who knows little about how to invest wisely, this book, along with his other "Rule #1" book, is the way to become knowledgable. Read, then, go out and practice with a margin of safety.
Any investment-oriented collection needs this approach, 2010-06-18
PAYBACK TIME: MAKING BIG MONEY IS THE BEST REVENGE offers a key to understanding long-term investing's downside, and refutes the common notion that this is the safest, best way to invest. Instead Phil Town advocates the idea of 'stockpiling' - how to get rich in bad markets - and offers a strategy designed to earn the reader millions. Any investment-oriented collection needs this approach.
Website doesn't deliver on promises in the book, 2010-06-18
I just finished this book. Unlike some reviewers here, I did note significant differences between Rule #1 and Payback Time --- Payback Time is more geared towards fundamentals and knowing the business you own; Rule #1 leaned ever so slightly in the direction of technical analysis.
With the discussion of Floors and Ceilings, though, we're still in the realm of doing some charting.
The problems I see are that Mr. Town is: a) hyping his website, but not realizing it does not deliver what he claims it will (e.g., where on the website is this "Investor Profile Questionnaire"? I certainly cannot find it ... ) ; b) a schill for his seminars and ancillary products --- Ok, I get it dude, you offer workshops, but do you really have to spend pages and pages selling me on the idea of going to them?
And besides, if you (Phil Town) are as rich as you claim to be, why set up these investment seminars in the first place? Just to "help" people? C'mon.
But really, the part that bugged me most was the description in the book of the wonderful associated website, and in reality the website just does not deliver on those promises.
On the plus side, the website does describe using Google Finance screens instead of the recently scaled back MSN screen. That alone merited an extra star ... otherwise I would only have rated this book "Fair" with two stars rather than three.
Great Book, 2010-06-10
Although some of book is a bit technical, this is a great read for someone looking to take control of their investing. Read it through at quick pace the first time to get an overview of his strategy and then take the time to practice using his methods and re-read as needed. This is not "get rich quick", it is "get rich smart".
Starts out great, 2010-06-01
This book starts out great but it is difficult to follow in this world market. I am still afraid to invest when the world is in such turmoil.
View All Customer
(38 customer reviews) Pay Back Time Delivers, 2010-07-19 Phil Town delivers investing information in an interesting and easy to follow way. I truly enjoy reading his books. He's a great public speaker, too, and his books are written as though he were talking to you. His snippit stories mixed into the informative chapters break up the lessons, making it even more enjoyable. For the average person who knows little about how to invest wisely, this book, along with his other "Rule #1" book, is the way to become knowledgable. Read, then, go out and practice with a margin of safety.
Any investment-oriented collection needs this approach, 2010-06-18 PAYBACK TIME: MAKING BIG MONEY IS THE BEST REVENGE offers a key to understanding long-term investing's downside, and refutes the common notion that this is the safest, best way to invest. Instead Phil Town advocates the idea of 'stockpiling' - how to get rich in bad markets - and offers a strategy designed to earn the reader millions. Any investment-oriented collection needs this approach.
Website doesn't deliver on promises in the book, 2010-06-18 I just finished this book. Unlike some reviewers here, I did note significant differences between Rule #1 and Payback Time --- Payback Time is more geared towards fundamentals and knowing the business you own; Rule #1 leaned ever so slightly in the direction of technical analysis.
With the discussion of Floors and Ceilings, though, we're still in the realm of doing some charting.
The problems I see are that Mr. Town is: a) hyping his website, but not realizing it does not deliver what he claims it will (e.g., where on the website is this "Investor Profile Questionnaire"? I certainly cannot find it ... ) ; b) a schill for his seminars and ancillary products --- Ok, I get it dude, you offer workshops, but do you really have to spend pages and pages selling me on the idea of going to them?
And besides, if you (Phil Town) are as rich as you claim to be, why set up these investment seminars in the first place? Just to "help" people? C'mon.
But really, the part that bugged me most was the description in the book of the wonderful associated website, and in reality the website just does not deliver on those promises.
On the plus side, the website does describe using Google Finance screens instead of the recently scaled back MSN screen. That alone merited an extra star ... otherwise I would only have rated this book "Fair" with two stars rather than three.
Great Book, 2010-06-10 Although some of book is a bit technical, this is a great read for someone looking to take control of their investing. Read it through at quick pace the first time to get an overview of his strategy and then take the time to practice using his methods and re-read as needed. This is not "get rich quick", it is "get rich smart".
Starts out great, 2010-06-01 This book starts out great but it is difficult to follow in this world market. I am still afraid to invest when the world is in such turmoil.
View All Customer