Author: Andrew Tobias
As I have written before, I don't understand high finance at all. It's not the numbers. I adore math. It's simply that I've never had any money to invest so I've never needed to learn much. However, through the work of Michael Lewis, I have come to enjoy reading about the financial world. After all, I'm not exactly likely to become a professional baseball player, dragon treasure burglar or galactic hitchhiker either. I can still enjoy the books about such characters. So, when my mother gave me this Andrew Tobias treatise in an effort to clear out her own bookshelves, I figured why not?
Fortunately, much like Lewis, Tobias is an engaging and humorous writer. Even better, for someone like me, he has plenty of sensible advice for saving money in the first place. The title is tongue-in-cheek. Tobias offers no magic formula for getting rich and readily admits to his own spectacular failures. Instead, he offers simple, practical advice - mostly, how not to get hosed. He asserts there are way too many authoritative-seeming books on the market while most people just need to remember a few basic principles and follow their own common sense. Or be Warren Buffett. If you can manage to simply be Warren Buffett, you're all set.
There's advice for those of means, too. I didn't understand most of it but I am assuming it's equally sage. As a cover-to-cover read, it wasn't half bad. I laughed out loud several times and made it through quickly. I'll keep the book around for reference.
I think it's safe to say that this isn't something I'm going to make time for, though it does sound much better than Lovecraft.
ReplyDeleteYeah, I can't see you going for this one either.
DeleteYour reading habits are somewhat puzzling. Admirable, but puzzling.
They're puzzling even to me.
DeleteI suppose some of it can be explained as curiosity research.
Okay.
DeleteI used to sit on a rather large foundation board and got into reading lots of investment theory--I enjoyed the work David Swensen, the CFO at Yale. I also found Larry Light's book, "Taming the Beast" a good overview of the various strategies used by investors. In my "Sage" blog, I review them both. I may have to check this book out.
ReplyDeletewww.thepulpitandthepen.com
I don't know either. I'll keep them in mind.
DeleteMy husband follows the stock market and watches Kramer every night. He monitors our investments carefully.
ReplyDeleteGood for you!
I can understand how people get caught up in it. It's really not so different from following sports.
DeleteManaging money has always been my Achilles heel and most of these book are dry. Sounds like a fun book.
ReplyDeleteI expected dry and was pleasantly surprised.
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