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Posted January 3, 2013
¿ Playing the Winners Game" is a terrific book. It is clear
“ Playing the Winners Game" is a terrific book. It is clearly written and supported with helpful illustrations. The investment concepts are understandable especially to an average person. Mr. Swedroe indicates his mission is to educate average individuals regarding academically based investment principles and their implementation. He feels this subject is so important that the basics of investing should be covered in our schools but it is not. He indicates that the principles are "simple, elegant, and logical." He offers a cautionary note. Implementing the principles requires discipline which is sustained by becoming an informed investor. This book alone can provide you with the information needed to obtain market returns. His other books provide additional confirmation in detail.
Mr Swedroe indicates investing involves ris. He indicates academic studies imply those risks can be managed. He also explains how we can individualize those risks based upon our own unique "ability, need, and willingness to take risk." He believes that the primary reason postpone or avoid risk is based upon an " irrational belief that someone can protect us from bad things like bear markets." He suggests that avoiding media forecasters and actively managed mutual funds while investing the equity portion of a portfolio in index and passively managed funds along with periodic rebalancing offers the most likely opportunity for investing success. His book covers indicate the endorsement for these principles by a large number of finance professors. A section of the book discusses the value added for most investors of using a "fee based only" investment advisor.
What can one achieve by adopting the described academic investment principles? He suggests one is likely to achieve their financial goals with the least amount of risk and acquire as a bonus the free time to pursue personally meaningful activities with loved ones.
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