Read Rule #1 The Simple Strategy for Successful Investing in Only 15 Minutes a Week! Phil Town 0352712458960 Books
Read Rule #1 The Simple Strategy for Successful Investing in Only 15 Minutes a Week! Phil Town 0352712458960 Books
Download As PDF : Rule #1 The Simple Strategy for Successful Investing in Only 15 Minutes a Week! Phil Town 0352712458960 Books
In this book, self-made millionaire Phil Towns will show you how he turned $1,000 into $1 million in only five years, and then proceeded to make many millions more.
Before I became “Phil Town, teacher of investing principles to more than 500,000 people a year,” I was a lot like you someone who viewed individual stock investing as way too hard to do successfully. As a guy who barely made a living as a river guide, I considered the whole process pretty impenetrable, and I was convinced that to do it right you had to make it a full-time job. Me, I was more interested in having full-time fun.
So I was tempted to do what you’re probably doing right now letting some mutual fund manager worry about growing your nest egg. Let me tell you why that decision could one day make you absolutely miserable.
The fact is, because of natural market cycles, the mutual fund industry is likely to soon be facing twenty years of flat returns. That means that if you’ve got your nest egg tucked away in funds—especially the type found in most 401ks—your egg won’t get much bigger than it is now. Translation Get ready for a retirement filled with lots of cold cuts, plenty of quality TV-watching time, and a place to live that’s too small to accommodate your visiting kids.
I came to investing as a person who wasn’t great at math, possessed zero extra cash, and wanted a life—not an extra three hours of work to do every day. Fortunately, I was introduced to The Rule.
Rule #1, as famed investor Warren Buffett will tell you, is don’t lose money. Through an intriguing process that I’ll clarify in this book, not losing money results in making more money than you ever imagined. What it comes down to is buying shares of companies only when the numbers—and the intangibles—are on your side. If that sounds too good to be true, it’s because the mind-set I’ll be introducing you to leads not to bets but to certainties. Believe me, if there were anything genius-level about this, I’d still be a river guide collecting unemployment much of the year.
Part of the secret is thinking of yourself as a business owner rather than a stock investor. Part is taking advantage of today’s new Internet tools, which drastically reduce the “homework factor.” (We’re talking a few minutes, tops.) Part is knowing the only five numbers that really count in valuing a potential investment. And part—maybe the most important part—is using the risk-free Rule #1 approach to consistently pay a mere 50 cents to buy a dollar’s worth of a business.
What I won’t waste your time with is fluff a lot of vague parables reminding you of what you already know and leaving you exactly where you started. This is the real deal, folks a start-to-finish, one-baby-step-at-a-time approach that will allow you to retire ten years sooner than you planned, with more creature comforts than you ever imagined.
Read Rule #1 The Simple Strategy for Successful Investing in Only 15 Minutes a Week! Phil Town 0352712458960 Books
"Excellent book with a few flaws. His valuation method is fairly good, but the reader needs to know that stocks are not randomly discounted by Wall Street for no reason. He asks the reader to research the potential companies you want to buy, but when you do there is always dirty laundry which has caused the stock to drop. Naturally it is up to the reader to decide if the bad news which caused a price drop is significant enough to cause a long term issue, or if the price should rebound. The second flaw is his model for getting in and out of stocks based on a few technical indicators. He instructs the reader when to get out based on these findings, but doesn't use the criteria at all when deciding if he should buy a stock to begin with which could result in mixed signals. The book was also published in 2006 and many of the websites he mentions as tools for research (including his own) simply no longer exist or have changed to the point of being obsolete. The third issue is his opinion that diversity isn't important, that being invested in just a few stocks is better. If you followed his advice, your portfolio took a huge hit recently when one of his star examples lost 37% at the next open due to an after hours earnings call. Again, some very sound ideas, but know you should adjust some of the ideas to better protect yourself and get out at more opportune times."
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Rule #1 The Simple Strategy for Successful Investing in Only 15 Minutes a Week! Phil Town 0352712458960 Books Reviews :
Rule #1 The Simple Strategy for Successful Investing in Only 15 Minutes a Week! Phil Town 0352712458960 Books Reviews
- Bear in mind this is a beginner's book designed for an audience who probably knows what an Index fund is but that's about it. I read a long review of the book last night and what struck me is that the author gave very little deference to the four main pillars of this book, Meaning Moat Management and Margin of Safety, basically saying they were good, and then concentrating the criticisms on the smaller stuff. The reader has to realize that a subtitle of "In just 5 hours per week!" won't sell a book. You'd be a fool to think that 15 minutes per week is sufficient time to evaluate stocks and manage your portfolio. Though if I didn't already listen to his podcast I would have stopped reading the book after the first 20 pages because it's full of the usual "Get rich quick! No time at all! You'll never lose money! Guaranteed! It's easy!" lines that a poor salesman would use. Likewise, it's pretty obvious the $1000 turned into a million was only the starting cash and much more money was dumped into it later. A similar example is used later in the book of a couple making lots of money on just one company, but it involved them selling at absolute peaks and buying at absolute valleys.
Still, overall the book is a great lesson in how to evaluate a company and what to watch for. You also end up with stock valuations which aren't far off from what many other instructors get you. I recommend the book quite a bit to anyone wanting to learn how to do it themselves and potentially make a little more money than an Index fund could get you. Granted, I would read many other books as well, because I sure wouldn't leave my retirement into the hands of one single book, no matter who the author is. - Excellent book with a few flaws. His valuation method is fairly good, but the reader needs to know that stocks are not randomly discounted by Wall Street for no reason. He asks the reader to research the potential companies you want to buy, but when you do there is always dirty laundry which has caused the stock to drop. Naturally it is up to the reader to decide if the bad news which caused a price drop is significant enough to cause a long term issue, or if the price should rebound. The second flaw is his model for getting in and out of stocks based on a few technical indicators. He instructs the reader when to get out based on these findings, but doesn't use the criteria at all when deciding if he should buy a stock to begin with which could result in mixed signals. The book was also published in 2006 and many of the websites he mentions as tools for research (including his own) simply no longer exist or have changed to the point of being obsolete. The third issue is his opinion that diversity isn't important, that being invested in just a few stocks is better. If you followed his advice, your portfolio took a huge hit recently when one of his star examples lost 37% at the next open due to an after hours earnings call. Again, some very sound ideas, but know you should adjust some of the ideas to better protect yourself and get out at more opportune times.
- This book is a fantastic introduction into value investing and making sure you don’t follow the stock market hype train (I’m looking at you Bitcoin).
While Phil Town lays out this book in a really easy to read and digest manner, utilizing his method to invest in stocks can be difficult for these reasons
- You will need to spend 5-10 hours for due diligence on any company you evaluate. You will probably need to evaluate 10-20 stocks before you should invest in one assuming you’re buying a stock as if it’s a company you want to own. Don’t forget that you also need to carry out due diligence on the industry that the stocks belong in. At a minimum, you’ll spend several hours understanding what makes the industry tick and the various parties in the industry(incumbents, suppliers, new entrants, customers). If you really want to set yourself apart, you could do a SWOT (strength, weakness, opportunities, threats) analysis on the company of choice.
- Information can be hard to come by (which Town notes in his book). In terms of historical data, most websites only go 3-5 years back. Additionally, it can be hard to find future equity growth rates unless you use a paid website like Factset or Zacks.
If I had more time on my hands, I would love to dig deeper and utilize Town’s strategy, but, alas I don’t. I’m going to stick with index funds since you’ll get your guaranteed 5-7% per year over the long haul with only market risk to account for. I’ll likely never get 15% returns year over year, but I’m perfectly happy focusing my limited time elsewhere. - I attended his free seminar 5 years ago. I finally got down to reading his book. He has good advice for stock investors and how to do it if you do your homework. It takes more than 15 minutes in the beginning, more like 1 hour per stock to do all the calculations and he recommends 5 stocks to pick. That is 5 hours. Then you have to follow it diligently every business day. Not as easy as he says in the book. If it is, then he would keep it secret. True, the calculations are simple, but they are a lot for each stock. It can be done, but it takes a lot of practice, like anything else.
- Wonderful book for new investors! Phil is so great at simplifying the process and strategies. I personally love numbers so I find the calculations to be very easy. But he also provides a website with multiple calculators that do all the work for you. I attended his transformational workshop a couple weeks ago and I was kicking myself for not having read this book first. I’m taking the workshop again in a couple months to solidify all that I’m learning now. If you want to learn how to be an educated value investor, read this book!
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