Allan Roth shatters the myth that investing is too complicated for ordinary people in his new book How a Second Grader Beats Wall Street. His common sense, easy to understand guide can save you money on your investment costs and maybe your investments.
Some quotes from the book:
“Design a portfolio composed of a few basic building blocks than can be ‘tweaked’ to fit your personal needs.”
“Reengineer your portfolio to stop needlessly paying taxes.”
“A simpler approach to today’s market can put you on the path to financial independence.”
“Morningstar’s ability to turn large amounts of data into simple, understandable information helps investors make better decisions.”
“Cut through the baloney that Wall Street wants us to believe and return to basic simplicity.”
“It is what we learn after second grade that turns out to be so destructive.”
“Kevin’s magic portfolio: Vanguard Total Stock Market Index Fund; Vanguard Total International Stock Index Fund; Vanguard Total Bond Market Index Fund.”
“By ‘Wall Street,’ I mean everybody who’s after your money, not just the large brokerage houses.”
“Our emotions consistently steer us toward the path that leads only to giving away our hard-earned nest egg.”
“I’m a strong believer in the KISS principle (keep it simple, stupid).”
“There are two types of investors when it comes to predicting next year’s stock market: 1) Those who don’t know. 2) Those who don’t know they don’t know.”
“Over a 20-year period, the stock market has always bested inflation.”