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For most people, intelligent, informed, confident do-it-yourself is beyond their practical grasp. It’s not that the readers lack the intelligence; rather, they lack the time (both hours in the week, and years of experience required to gain confidence and a firm hand) required. This book aims to give readers the background necessary to do-it-themselves if they want to put in the effort. We also realize that for many, it will make more sense to use a professional advisor. Readers who choose not to do-it-themselves will be much more informed clients than most advisors’ typical clients. And that’s a good thing, because research shows that advisors can add more value for more informed clients.
The book offers some surprising insights, such the idea that investing in 100% equities may well be the least risky option for young investors, that financial planners have been found in many studies to add significant value without “beating the market” and without exposing the client to excessive market risk, that a home is not a great investment, why Nobel Prize winner Harry Markowitz did not use his own Nobel formula in his personal investing, and the truth about many supposed yields on futures contracts.
