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For those unfamiliar with the author, Dan's Canadian Couch Potato blog & podcast is one of the best investing resources in Canada, covering all the nuances of index-investing. But he's generated so much great content over the years, it's hard for someone new to investing or indexing to know where to get started. "Reboot Your Portfolio" solves this problem nicely by explaining the most important concepts in a clearly progressing order.
To be clear, this isn't a "get rich quick" book. The investing approach advocated is index-investing, which has historically been shown to give strong & steady returns to grow your money and outperform the majority of investors over the long-term with manageable risk. Dan lays out a compelling case why over the long-term indexing is likely to outperform active management, regardless of if done by yourself or a professional, with much lower fees & less work involved. And best of all: the basic strategy makes sense whether you have hundreds or millions to invest.
While the technical steps to invest in an index fund are relatively straightforward nowadays, the "steps" presented here are really about laying a strong foundation: understanding concepts such why indexing works, what your risk tolerance is, what diversification you need and what you don't, which type of products to select, when to add new money, when to worry about fees and when to focus on simplicity, dealing with FOMO, and how to stick to your plan. This background is invaluable to making a proper financial plan and sticking to it.
Dan's background in journalism really shines through, with complicated concepts being explained in simple terms with plenty of evidence. It's also a really enjoyable read that never feels dry or boring, despite the subject-matter. Even as someone already familiar with most of the content, I enjoyed the read and it acted as a great refresher. And while focused on Canadian investors, I suspect even those in other countries would benefit from 95% of the book's content.
The book does focus on simplicity and thus emits (or only touches on briefly) some of the more advanced indexing/investing topics around areas like tax efficiency. Dan's likely right that in most cases worrying about these topics is likely to lead to more lost in mistakes and trading costs than any savings (especially for portfolios not at least mid-six-figures large), not to mention the extra effort, so avoiding these topics was probably the right call. But for those with larger portfolios & discipline and who are willing to do some more work to squeeze out some more savings, Dan and his colleagues have plenty of resources online to dig into these advanced topics; point being, even if you don't fully follow Dan's "keep it simple" advice, this book will still serve as a great foundation to make sense of those more advanced concepts.
Overall, regardless of your age, net worth, investable assets, previous investing experience, and anything else, I'd highly recommend giving this book a read.
This is a great book and Dan is the index investing guru. His articles in Money Sense magazine around 2010 put me on the right track for investing. His base message has never changed but his delivery has evolved (as well as what products are available). I don't plan to change anything but the book is a pleasure to read and I'd be confident in recommending it to anyone who asks about long term investing.
The fact that Andrew Hallam gave this book 5 stars should be enough for anyone to be confident that this book book is a must read for any Canadian interested in responsible personal finance.
Highly recommend if you're getting into index investing. It's a good read as I finished it over the course of two flights and it didn't even seem that long. The author does a good job of clearly explaining the benefits of index investing and how to employ the correct strategies. Also liked how he gives a clear understanding of exactly what you're doing with index investing so that you're able to face the inevitable criticisms from advisors/friends etc. This book is a great investment if you're getting into index investing.
If you are thinking about becoming a DIY investor in Canada, this is the book for you. It covers everything you need to know - including the reasons you should stop trying to beat the market and switch to an ETF based portfolio. You will learn about asset allocation, fund selection, balancing and even the details of how to place trades, which is extremely helpful for a first time DIY investor.
Dan has condensed years of his blog posts and podcasts into a clear, consise summary of everything you need to know to get started as a DIY investor. Highly recommended.
This book by Bortolotti is an easy read. Like his first book, he explains the efficacy of index investing by referring to research and historical market tendencies. I liked his point-counter-point approach at the end of this book, which encourages index investors to stay on track (something I desperately needed). I value the books he writes because they provide a rational and simple means of investing. I also find his "Canadian Couch Potato" website very useful.
Whether you are just starting out or already have a substantial portfolio, you owe it to yourself and your family to consider index investing, and this book shows you why and how to do it.
It doesn’t matter if you invest with a financial advisor, if you want to do it all yourself, or something in between, Bortolotti describes how to cost effectively build the portfolio that suits you the best, and he does so in a clear and concise writing style.
As I near retirement I am tired of chasing equities and it is time for me to relax and make the move to becoming a passive investor. Time to focus more on my golf game than attempting to balance an all equity portfolio. Great read from the beginner to a long time investor.
I got my book yesterday and I loved it. It’s worth the wait. I love Dan's humor and the way he described the obstacles index investors will face. Felt much more prepared after reading this book. I truly appreciate that Dan acknowledge the fear strategy used in industry and his words bring a peace-of-mind at least for me! Thanks Dan for writing this book. I am looking forward to your future writing!