Never Buy Another Stock Again: The Investing Portfolio That Will Preserve Your Wealth and Your Sanity, Portable Documents

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FT Press, Sep 9, 2010 - Business & Economics - 256 pages
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Want to build long-term, sustainable wealth? Then stay out of the stock market!

 

That’s radically different advice from what the "experts" have served up for decades… but look at the miserable results those pundits have delivered! Investors who’ve chosen equity-based buy-and-hold approaches have seen their assets decline dramatically: not just for a year, but often for decades. Fortunately, there are better ways to invest — and Never Buy Another Stock Again reveals them.

Renowned Reuters financial journalist David Gaffen first explains why stocks are an even worse short- and long-term investment than you realize. Next, he shows how to create a balanced portfolio that reflects a "big-picture," holistic approach, intelligently incorporating cash, real estate, retirement funds, savings, and other holdings. Gaffen’s strategies rely primarily on investments outside the stock market, while identifying strictly limited roles for mutual funds and ETFs. Readers will learn how to: dramatically reduce investing costs that can kill your returns; invest in an environment where double-digit returns can never be expected; overcome huge flaws in conventional diversification strategies; and offset risks associated with existing equity ownership.

 

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Contents

Introduction
1
Starting Over
5
Advice To Ignore
33
Love Your Emotions Dont Trade Them
57
Investment Strategies That Turn into Portfolio Nightmares
73
You Have More Options Than Just Sucking It Up and Accepting Losses
97
When Diversification Does Not Diversify
117
Buying a PortfolioAnd Selling It
141
ETFs A Stock By Any Other Name
163
Crude and Rude Commodities Bonds and Everything Else You Should and Shouldnt Buy
177
Putting It All Together
189
The Outlook for the Future
211
Bibliography
229
Index
231
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About the author (2010)

David Gaffen has been covering the ups-and-downs of the financial markets for 15 years. He is currently an editor at Reuters, overseeing a team that reports on the stocks, bonds and foreign exchange markets. He was the founding writer and editor of the Wall Street Journal’s MarketBeat blog, which he wrote for more than three years, and was nominated for an Editor and Publisher Eppy Award. He has made numerous TV and radio appearances, including Fox Business, CNN International, and NPR. He lives in Westchester County, New York, with his wife and two children.

 

While this book was written during his tenure as a Reuters editor, Reuters has not been involved with the content or tone of this book, which are his responsibility alone.

 

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