This book took me so freaking long to get through! I do NOT recommend this for anyone who doesn't love reading a whole thesis on finances. I like boring stuff and I found this one tough. I'll save you the hassle and hours of mind-numbing by condensing the take-aways:
- Put your money in, leave it there, you will get the average market return, 6.7% over a decade regardless of what happens
- Don't pay someone to play with your money. If you're not making the average market return after fees and commissions, fire your manager and just leave the money in and you'll get the average market return.
- Diversify to get average market returns. All your eggs in one basket (or sector/subject/category) will not net you average market returns.
- There are no hot deals. There are no guarantees. There are no secrets. If there are, it's called insider trading.
- Mutual funds are designed to be bought and held. Buy-sell-buy of mutual funds completely defeats their purpose.
You're welcome. I just saved you 21 hours.
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