Saturday, February 26, 2011

Everything You Know About Investing Is Wrong

One of the authors of The Investment AnswerGordon Murray, died of brain cancer two days before the book's release. But writing it lengthened his life, he said—before dying, he wanted to sum up what he'd learned from a life in finance, to help the rest of us. I'm happy to say he succeeded.

The book succinctly summarizes the basic principles of wise investing, and it takes about an hour to read. It's advice can be summarized in three words: Don't speculate; invest.

For a psuedo-post-bohemian like myself, who's made a point of pretending to be indifferent to money—who has, for long stretches, in fact been indifferent to money—and who, as a consequence, has failed to save a red cent, I can't think of a better beginning-investor's primer.

The rest of you, who keep the world spinning, won't regret reading it, either.

(An excellent profile of Mr. Murray, which introduced me to the book, can be found here.)

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