What your investment advisor should be doing.
585658
There are many things to like about this book.  The emphasis is on providing investment advisors with the information on asset allocation they need to connect successfully with clients.  The only real flaw I see in the book is the watering down of material so that clients can understand it.  I understand the necessity of doing this but it does leave open the door for dishonesty of the car salesman variety.  Every investor even comtemplating using an investment advisor or even a broker should read this book from cover to cover.  If he/she hears anything from the selected advisor that deviates much at all from what is here he/she should run not walk out the door.  Perhaps the most important contribution of the book is the emphasis on the interaction of portfolio components to produce higher returns than undiversified or underdiversified portfolios.  Gibson uses the Commodities Index  as one of the portfolio components along with the EAFE, S&P 500, and REITs to show this.  This index component is available in practical form as the Oppenheimer Real Assets fund.  If you have net investment assets that allow private money management this is not a problem as the money management firm can buy more than 1 million dollars worth  and distribute it among the clients.  If you do not qualify for a typical money management firm the mutual fund charges a 5.75% load thereby making rebalancing something of a problem.  Perhaps infrequent rebalancing would work.  Therein lies the problem with the book.  Even though Gibson is as honest as the day is long, the information presented is designed to handle the clients expectations and fears.  All kinds of techniques and information are presented most of it assuming very little brains from the people who made all that money ( all of whom we would normally be assured are brilliant not just at making money but in all aspects of their lives ).  A,B,C,D are all presented but when portfolio design time comes E is recommended and not just due to tailoring to the individuals needs or risk tolerance.  Gibson tells the reader that it is necessary to manage the clients expectations and to make the portfolio more like that of the clients friends or more in keeping with clients prior expectations and thereby more acceptable.  This may be true.  But Berstein does the same thing in The Intelligent Asset Allocator.  His reasoning is a little different:many of the models primarily rely on data mining or make certain assumptions and he believes in the use of index funds almost exclusively. So Bersteins portfolios also rely a great deal on judgement.  Both believe that tracking error from the S&P 500 may be an issue.  When all is said and done this is very much an art form.  It is also very much a sales technique albeit an important one.  Nevertheless, both this book and The Intelligent Asset Allocator are required reading for any serious investor.  Gibson's book also has the best discussion of client risk assessment I have seen.
3232692
I am in the throws of debating whether to put my hard earned money in the hands of an advisor (which 90% of my friends have done) or to invest myself.  After reading Common Sense Investing, there is no debate.  The role of an advisor, save perhaps for the very wealthy, is not only overrated, but downright detrimental.  Do it yourself and read this book!
4715104
If you are gambling in the stock, options, forex or futures market, you need to read this book. Practical common sense and good advise...

Not sure if the method that he suggest, buying 25% of your portfolio in stocks, 25% in gold,  25% in Treasury Bonds, and 25% in Cash, is better than just bonds, and or an income property, but beside his "fail safe" portfolio, there are valuable ideas to keep your money for gambling and "hedge funds"
3032762
Sure, be the trusted advisor, someone who never gets anything wrong. LOL The philosophy is good, but quite hard in practice. The other key take away is that you always work for your client's best interest. That's how you build trust. I'd say more important than that is you SHOW how your actions benefit them even at your own expense. Otherwise, they won't even realize how good they have it
1199615
There are more most important things to investing than most people realize.

You need to me a long time investor to appreciate the wisdom offered in this book.
2026841
Faber is an amazing analyst with a very unique perspective about investments. I should spend more time following his funds.

Best,
Craig
1583055
After reading this book, you will question if your 401k is doing what you had plan for it to do!
4359882
Unfortunately for me, I do not have to ask myself the "What now?" question about my wealth because I haven't amassed it yet.  Many of you have created great wealth for yourselves and Michael Lipper and Douglas Sease have written a book specifically for you, to help you preserve the wealth that you have worked so hard to create and how to make it even bigger!  Do you even know how much wealth you have? This book will help you to measure your wealth, learn about investing and what works for you, learn how to spend your wealth and when not to spend it. Mike Lipper is an analyst who has helped develop the Lipper Indices for mutual funds, so you are hearing this from an expert that can really help you. If you have been successful and have accumulated wealth that you just don't know how to handle, take the advice of a credible, and proven expert to make your money work for you and not against you. Many people are scared of investing, advisors and money, this book will help you shelve your fears.
If you are like me and don't have any wealth as of yet, I would recommend you read this book so that when your wealth hits you, you know what to do with it in a smart and knowledgeable way.
779828
The book is okay. The advice given is mostly general knowledge for people who are already in retirement investment. Some of the information is repeated several times.
1352043
I have recently been reading a lot of investment strategies and have been investing myself quite a bit.  Keeping that in mind I think the Gardners did a decent enough job of explaining the market and what to look for in a company for your portfolio.  Their techniques, the Foolish Eight, are useful and seem promosing.

I must say, though, that a lot of what they developed, or created, was simply a mish and mash of O'Neil and Lynch with a heavy backdrop of Fisher and Buffett.  This isn't to say it is bad, o contrar, it is quite useful.  But I would recommend reading Lynch, Buffett and Fisher before hand, with maybe some Graham, before you venture into this book.  This is the case because you want to have a good understanding of the market and the value investing of Buffett and Graham, as well as the growth investing of Fisher and Lynch.

With that in mind, their book does a very good job in bringing everything together and showing the reader the potential outcomes of various investment strategies.  One must always, and they even say this themselves, protect what is yours, and in this case it means don't dump all your money on a potential growth stock.  Take a small amount, say 10 to 15 percent, and the rest in value, large blue-chip companies.

When all is said and done, I would recommend this book.  It is fun and interesting and puts a lot into perspective.  The Gardners say so themselves, take their approach as well as others and find one that works well for you, perhaps mixing and matching.  But, to finish, no matter how you invest, always, and I mean always, carefully look at the financials before you dive in.

I would recommend.
3648594
"Mutual Funds Today...Who's Watching Your Money" is a must read for fund investors and anyone looking to build an investment portfolio.  The book breaks down the complexity of mutual funds in an easy-to-read manner that should help even the most knowledgeable investor.  The book further provides practical time-tested financial advice with a convincing discussion of the potential dangers of annuities.  I also liked the section on fund pioneers Leon Levy, John Templeton, and John C. Bogle, and can certainly see how their investment principles are as true today as they were in the past.

The second part of the book is a timely assessment of the current state of the fund industry, and offers reasonable suggestions that should be addressed by industry leaders and trade organizations.  It is important to note that the author has over 40 years industry experience, and his book taps into this experience as to what has worked well and what needs to change.  In particular, Mr. Calabria discusses potential abuses in 12b-1 distribution fees, thoughts on fund governance, including plans for improving oversight by fund directors, and the "ancient" practice of loading up shareholders with paper in the delivery of annual reports.  The bottom line is that each of the book's recommendations is beneficial to fund shareholders, and could very well initiate common sense reform.
298072
This is a must read for any investor looking to increase or create its wealth and keep it throughout the years.
620334
To the point and it answers the question posed in the title. What more do you need? For the average investor like myself, who does not need a complex economics lesson, this book gives a clear roadmap to follow. Put the advice into action. I particularly like the argument of being in active retirement. That is continuing to earn some money doing what you love while having a secure financial cushion.
1508321
During the financial crisis of '08, securities of all types plummeted pretty much all at the same time. A mix of stocks and bonds failed to protect against losses. Many investors learned the hard way that it was time to re-write the rules of building and sustaining a portfolio. The new strategy calls for a more dynamic investment advisor and Beck's approach as outlined in this book is worth considering.
1424671
The title What Your Financial Advisor Isn't Telling You was a bit misleading for me, as I half expected the book to denounce the various financial planners, investment advisors, and tax experts.  Instead, the book is about areas that are out of the scope of your financial advisors and that you need to make sure are being managed.

Before reading any personal finance book, I research the author to assess if their perspectives and biases.  Liz Davidson is the founder of Financial Finesses, which provides financial advice to individuals only through their employers.  This is a real positive, as Ms. Davidson isn't trying to sell anything to me, the most she can hope for is that I may recommend her company to my employer.  Therefore, I am inclined to read her book with a positive perspective.

What Your Financial Advisor Isn't Telling You is structured in 10 chapters plus a checklist.  The chapter topics range from taking full advantage of your employer benefits, paying off debt, understanding how financial advisors make money, investing, taxes, managing your entire financial portfolio, and selecting an advisor.  The final chapter, Follow the Money Trail, discusses the financial industry and has some ideas for improving the financial literacy for individual investors, starting in school.  I though Ms. Davidson makes some great points in this chapter, as American education has a key role to play in helping people avoid debt and learn to manage their retirement and health care funds.

The appendix has a Financial Independence Day check list, and even though I am already doing many of these things, everyone will benefit from running through the list and checking your own situation.

What Your Financial Advisor Isn't Telling You is easy to read, and the information is quite accessible.  The book is a good resource for young people to begin to learn about money, and for people who are savvy about personal finance and just enjoy reading about the topic.  Personally, I hope this book becomes a huge best seller, resulting in many more people having gained some expertise about their money.
1139475
This book is a must read for boomers such as myself who are in a position to utilize the services of a professional financial adviser. Rodger Friedman is one of America's foremost authorities on the relationships between clients and their financial advisers. I say this because he provides a play book of what to do and what not to do in creating an optimum relationship with the person or team in charge of financial guidance for your family. I have taken his advice to heart and improved the dynamics my family enjoys with our adviser. You will make a lot of reading choices this year that will impact the financial health of your family, make sure that Forging Bonds of Steel is at the top of your reading list.
D. Roberson
4313382
This is an investment strategy that is so simple, its almost hard to accept that it is all you need to do.  Wayne is the world's greatest expert on how investment managers work so I have to believe he is right.