Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
My first book report: Just One (more) Thing
Old 11-17-2005, 09:51 AM   #1
Thinks s/he gets paid by the post
greg's Avatar
 
Join Date: Jun 2005
Posts: 1,071
My first book report: Just One (more) Thing

I just finished Just One Thing by John Maulden. He picks eleven people who have run or made money and asks each to give their one best idea. It offers a wide variety of perspectives on how to manage and make your money for the long haul, without the drudge of buying individual books by each and plodding through 300 pages to find 10 good ones. Below I’ve tried to encapsulate a few of what I think are their best thoughts:

Andy Kessler: I read one of his previous books; he’s a stock picker at heart. He talks about how to find trends and then stocks in the stock market. One thumb up.

Dennis Gartman: A trader. You’re here to make money not fall in love with your own ideas. He presents 13 rules for jumping into stocks—and jumping out. It’s always good to have basic reminders on proper timing behavior.

Mark & Jonathan Finn: These guys beat on past performance as predictor of future performance. Anyone sell their bonds recently and buy oil stocks? Read this.

A.Gary Shilling: He talks about bonds and interest rates and makes the case for a general lowering of treasury rates for the foreseeable future--and the money to made off them. That old, seemingly secure investment can make you big bucks. Two thumbs up.

Ed Easterling: I have one of his recent books and refer to it often. In seventeen pages he lays out a detailed understanding of risk. It’s like getting hit with a 2x4—and dang well worth it--in these dark times of high PEs and low interest rates. He criticizes and refines modern portfolio theory (MPT) and capital asset pricing model (CAPM) without sending you scurrying. Technical, but worth the read. Two big thumbs up.

John Montier: A brief look at market and personal psychology. Are you a Spock or McCoy? He explains how you use your heart and mind in decision making processes. He messed with my mind--but in a good way. A good look at the decision making process.

Bill Bonner: Tales from the dark side. He beats on every one. But it’s not necessarily bad. Eight pages of it though: What’s wrong with Keynes and the economy and economists . . . bla, bla and more good bla (at least to me).

Rob Arrnot: Make two percent more by buying equal-weighted indexes funds instead of cap-weighted indexes. Worth a look for die hard indexers—I guess.

George Gilder (Mr. Silicon): He shows off his own stuff. Read at your own risk.

Michael Masterson: Aimed at the youngsters who are just starting out in their work careers. Main point: Become an invaluable employee. Another read at your own risk for the over forty crowd.

Richard Russell: My hero, he’s now 81 years old and has seen it all including the Great Depression—and without suffering from Alzheimers. Rule #1: Compounding works; Rule #2: Don’t lose money; Rule #3: Wealthy people don’t need the markets (e.g. they are value investors and can easily wait for good investments to come to them; this is why they are wealthy); Rule #4: Look for values—“The only time to stray outside the basic compounding system is when a given market offers outstanding value.” The whole economic world—as retired people need it—is contained in his rules. The caveat: By trading in and out of the market, you are trying to beat time and compounding; be wary of the siren song of hope. Two thumbs and two big toes up.

John Mauldin: He thinks we are in the (late?) middle of a bull portion of a secular bear market. He believes in cautious optimism, showing the consequences to our portfolios of investing into a high PE environment or waiting for lower PEs. Lots of good ideas and technical data to reinforce his opinions. To my mind, he would help a stranger on the side of the road—and help far more than a broker or financial planner.



The one thing I really liked about this book, even if you don’t like any of the specific articles, is that it gets you thinking again: It prevents portfolio drift that can happen over time or encourages you to make needed refinements to your portfolio. It stimulates your thinking and refines your own actions to improve it—all for less than the cost of two trades or one if you use Vanguard. This book now becomes a valuable reference tool for me. Oh, and I liked it too if I haven’t mentioned that already.

--Greg
__________________

__________________
Compounding: Never forget! Never not remember!
greg is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Re: My first book report: Just One (more) Thing
Old 11-17-2005, 09:58 AM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 42,149
Re: My first book report: Just One (more) Thing

Quote:
Originally Posted by Apocalypse . . .um . . .SOON
... Oh, and I liked it too if I haven’t mentioned that already.

--Greg
Especially this part, I'll bet...

Quote:
Originally Posted by Apocalypse . . .um . . .SOON
It’s like getting hit with a 2x4—and dang well worth it--in these dark times of high PEs and low interest rates.
__________________

__________________
Numbers is hard

When I hit 70, it hit back

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Re: My first book report: Just One (more) Thing
Old 11-17-2005, 10:29 AM   #3
Thinks s/he gets paid by the post
greg's Avatar
 
Join Date: Jun 2005
Posts: 1,071
Re: My first book report: Just One (more) Thing

Quote:
Originally Posted by REWahoo!
Especially this part, I'll bet...
Yep, I'm trying to thing of a way to combine 2x4s, getting hit, and no pants without sounding like a perv. Oh, and snacks too.

--Greg
__________________
Compounding: Never forget! Never not remember!
greg is offline   Reply With Quote
Re: My first book report: Just One (more) Thing
Old 11-17-2005, 07:13 PM   #4
Full time employment: Posting here.
 
Join Date: Oct 2002
Posts: 717
Re: My first book report: Just One (more) Thing

Thanks for the report . . . I think of Maulden as a perma bear, and I don't need any more reinforcement in that direction.* But since the book is really essays written by others, I have been debating with myself (not outloud yet) about buying it or not.* *I think you pushed me over to the buy side.* *
__________________
Random Reinforcement is Highly Addictive.
riskadverse is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Book Report: "Why Do I Love These People?" Nords Other topics 4 06-12-2006 11:40 PM
Book report: Lowenstein's "Origins of the Crash" Nords Other topics 1 03-06-2006 02:12 AM
Book report: Life 2.0:... Nords Other topics 4 03-02-2006 04:42 PM
Book report:  Marc Freedman's "Prime Time" Nords Life after FIRE 16 03-23-2005 12:52 PM
Good book - The Millionaire Next Door Telly Other topics 18 08-20-2003 04:37 PM

 

 
All times are GMT -6. The time now is 11:44 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.