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The Long and the Short of it: A Guide to Finance and Investment for Normally Intelligent People Who Aren't in the Industry
The Erasmus Press Ltd Search The Erasmus Press Ltd by John Kay Search John Kay
Customer Reviews:
A Best Book on Finance and Investment
Anyone who has to make decisions about money should read this book. Buying it is the best investment decision I've ever made.
There could be a few improvements: the glossary of terms could be better; more subheadings would help; an index would be even more helpful.
The book assumes a certain amount of background knowledge. If you don't have that knowledge (you don't know the ins and outs of a `gilt', for example), then you'll need to look elsewhere - perhaps Investor's Chronicle; or the FT, for which Mr Kay writes each week). The FT also has a free glossary of terms.
Nevertheless, it's an essential read for anyone handling his or her own money. Not only is it an entertaining read, but it could easily save you hundreds or thousands of pounds. John Kay has done a great service for people who need to understand finance and investing.
Take Control of your financial future!
John Kay is an excellent writer - his books and columns are always fascinating and informative.
In this book he lays out a framework for thinking about how to invest for your long term future. It is not 'easy' reading but sure enough the content matter demands that it is treated seriously by the reader.
If you follow his advice I am confident you will be better off by a considerable amount within a decade - however this will take effort on the part of the reader and also a considerable amount of courage to take personal responsibility instead of relying heavily on institutions. This is a book to read several times to remind you of its key arguments. Foremost of these is that financial intermediaries are there to make money from you - if you can minimize use expensive financial tools, minimize fees and commissions you will be much better off due to the effects of compound interest. Essentially 2% difference of return year on year will lead to a big difference in the medium to long term future.
Some key ideas are:
* Do an audit of your financial service providers (current account, mortgage, credit card, savings account) every 2-3 years;
* Do not waste money on unnecessary insurance policies;
* Get rid of debt before saving (excluding mortgages);
* Aim for 8-10% compound growth rate;
* If you want to borrow then use your mortgage;
* Minimize fees and commission charges whenever possible;
* Seek to emulate the investment portfolio of pension fund managers;
* Use negative correlation analysis to create a stable portfolio.
I am 29 and have never previously thought much about savings and pensions - I now have a job where I can start to save so this book has come at the right time for me. If you are aged 25-45 you should read this book and try to act on it. It has been a real eye opener for me and I think in 2019 I will be a lot more comfortable for having read it. Good luck!
Normally Intelligent reading
I saw the author at the Hay-on-Wye book festival. His lucid and thoughtful analysis of the current economic crisis persuaded me to buy the book. As a layman of economics and investing, this is one of the most interesting books I have read on the topic for quite some time. In fact, although I had been dabbling in managing my own investments for a few years, it persuaded to to take ownership of it all. My only criticism is I would have liked much more specific guidance, with multiple examples in building an intelligent investor's portfolio. The subject of a sequel perhaps ?
John Kay does it again
This is a thoroughly enjoyable book. I've long been a fan of John Kay's writing and this is a bit of a departure - he deals much more with the history and institutions of the investment industry than I would have expected from someone who normally focuses on economics. It's very good, though.
When you've finished the book you will have a real sense of how to take control of your own investments and how not to be fleeced by investment professionals. It's more than just a "how to" book, though: Kay wants his readers to understand WHY he is giving them the advice he is. Worth reading twice.
Kay takes apart the financial services industry
This is an excellent book and illustrates vividly how and why savers are disappointed by the industry and its opaque charges. If you are interested in money and investment then you knew much of this and avoid "advisors" unless independent. You do it yourself. After all no-one cares about your money more than you!
On the other hand most people want to just live and can't be bothered with looking after their money. Substantial numbers of the "inteligensia" sneer at money and large parts of the population are indifferent to even learning the rules of the game. This book is not for these people who will never get anywhere.
So if you are interested in your investments read this. Then maybe you need to look at asset allocation next.
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Long and the Short of it: A Guide to Finance and Investment for ...
Januar 2009); Sprache: Englisch; ISBN-10: 0954809327; ISBN-13: 978-0954809324; Größe und/oder Gewicht: 21,2 x 13,4 x 2,2 cm; Amazon.de Verkaufsrang: Nr. 26.879 in Englische Bücher (Die Bestseller Englische Bücher) ...
http://www.amazon.de/Long-Short-Investment-Normally-Intelligent/dp/0954809327
