Payback Time: Making Big Money Is the Best Revenge!

Payback Time: Making Big Money Is the Best Revenge!

<b>Don€t get mad, get even€¦</b><br> <b> </b><br> Phil Town€s first book, the #1 New York Times bestseller <i>Rule #1, </i>was a guide to stock trading for people who believe they lack the knowledge to trade.  But because many people aren€t ready to go from mutual funds directly into <i>trading </i>without understanding <i>investing€"</i>for the long term €“ he created <i>Payback Time.</i><br>  <br> Too often, people see long-term investing as €œmutual fund contributing€ €“ otherwise known as €œlong-term hoping.€  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.<br>  <br> But it€s <i>worse </i>than that.  The net effect of hitching your wagon to mutual funds is that over a lifetime they€ll fritter away as much 60% of your nest egg in fees.  Once you understand how funds engineer this, you€ll rush  to invest on your own.<br>  <br> <i>Payback Time€s </i>risk-free approach is called €œstockpiling€ and it€s how billionaires get rich in bad markets.  It€s a set of rules for investing (not trading but <i>investing</i>) in the right businesses at the right time -- rules that will ensure you make the <i>big </i>money.