Payback Time: Making Big Money Is the Best Revenge! [Audiobook]

Author: rukensai on 8-03-2018, 13:54
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Payback Time: Making Big Money Is the Best Revenge! [Audiobook]
English | March 2, 2010 | ASIN: B003AOVPIE, ISBN: 0739385100 | kbps | 5 hrs 7 mins | 139 MB
Narrator: Phil Town

Donβt get mad, get evenβ

Phil Townβs first book, the #1 New York Times bestseller Rule #1, was a guide to stock trading for people who believe they lack the knowledge to trade. But because many people arenβt ready to go from mutual funds directly into trading without understanding investingβ”for the long term β“ he created Payback Time.

Too often, people see long-term investing as β6;mutual fund contributingβ7; β“ otherwise known as β6;long-term hoping.β7; But the sad truth is that mutual fund investors are, to a stunning degree, pinning their hopes on an institution that is hopeless. It turns out that only 4% of fund managers consistently beat the S&P 500 index over the long term, which means that 96% of fund investors see a smaller return on their nest egg than a chimpanzee who simply buys stocks in the 500 biggest companies in America and watches what happens.

But itβs worse than that. The net effect of hitching your wagon to mutual funds is that over a lifetime theyβll fritter away as much 60% of your nest egg in fees. Once you understand how funds engineer this, youβll rush to invest on your own.

Payback Timeβs risk-free approach is called β6;stockpilingβ7; and itβs how billionaires get rich in bad markets. Itβs a set of rules for investing (not trading but investing) in the right businesses at the right time – rules that will ensure you make the big money.

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