Finally A Book That Takes The Main Streeter Seriously!
If the last year and a half has taught those of us in the investment world anything, it is that there is something to be said for the Main Street way of doing things over the professional slicksterism of Wall Street. This brilliant, little (~36,000 words) piece of writing by the former Wall Street Journal columnist, Jonathan Clements, who happens to be one of the most universally trusted names in the financial industry today, effectively taps into this popular, contemporary current. "The Little Book of Main Street Money" is written with the same kind of good intentions and overwhelming sincerity that won Clements so many loyal readers during his days as a financial reporter and columnist. This "Little Book" can be read as a blueprint for establishing sound personal financial practices that will enable you to bring your finances in line with your life goals.
Jonathan Clements' 21 rules to live by and the rationale behind each of them are articulated clearly and concisely-each rule gets its own chapter, approximately 10 pages in length-the goal being to keep investors managing their portfolios in as farsighted and responsible a manner as possible. Many of Clements' tenants are unorthodox, some are downright counterintuitive. Consider Chapter Ten, "Aiming for Average Is the Only Sure Way to Win," or Chapter 12, "Short-Term Results Matter to Long Term Investors," or Chapter 13, "A Long Life is A Big Risk," or Chapter 20 "Even If We Have a Will, We May Not Get Our Way." These are clearly not things a down-on-his-luck investor expects or particularly wants to hear. Of course, that isn't the point. Clements trades in none of the feel-good backpatting that has become easy solace for a whole generation of investors whose savings have been eviscerated by the vagaries of the market and the sheer stupidity of the financial bigwigs on Wall Street. What Clements does offer is tough love and a realistic plan of attack for getting to a point where the constant struggle for financial security and freedom no longer controls your life. A Main Streeter all the way, Clements definitely has the little guy's best interests at heart! Check out more about Jonathan Clements and his "The Little Book of Main Street Money" at http://www.jonathanclements.com/little.html.
Note: It's also good to know that Jonathan Clements is not the only financial expert who cares about what ordinary investors are dealing with in these troubled economic times. Two other books that have come out recently which definitely share a Main Street approach to getting our financial lives back in order are Thomas C. Scott's "Fasten Your Financial Seatbelt" and John E. Girouard's "Ten Truths of Wealth Creation." These two books are sharply worded manifestoes arguing, along with Clements, for a return to the basics and a renewed appreciation for investment simplicity.
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