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It would be easy to read the title of this book and think - "I already know that" but the Nick has but together a great package of stories, data, charts and financial history that is easy to understand, fun to read and helps drive this point home. There are a few chapters specific to US accounts and taxes but readers from outside the US would still gain a lot from this book.
With the recent performance of real estate I'm sure some readers will disagree with the rent vs. buy chapter but housing is a huge financial decision and Nick provides important points to consider. Also the section on The Existential Argument Against Stock Picking was excellent and deserves a second read through.
This is a great book and one that I'll be recommending.
I have been reading the author's blog posts every week since 2021 and the quality of the financial world assessments and practical cases for regular people is outstanding. This book is a jewel, do not miss it.
Like a few other books i have read on this topic, Nick’s book also covers similar personal finance concepts which are more to do with behavior of investors and how they can deal with different situations. There are several data points that are shown, which if i recall, were also discussed at some point, in his weekly blogs, so not a big eye opener for those already subscribed to those. Nonetheless a good refresh at one place.
Overall, a decent book - but left a bit wanting as i am a regular reader of his blog.
The expectations from this book were sky high. And, does it deliver. The key lessons on optimism and pessimism and long term aside - the two things that states with me: 1. Expectations change even slower than reality. Everyone sees the world they have seen it before. 2. Everyone plays the game of investment differently. You need to define your game.
This is a fantastic book. It's not a book about investments and how to save your money . It is a book about your mind, and mine and how it thinks about money, savings, expenditure and investments. And, it is brilliant. Pick it up now.
I liked how Nick brings different insights and additional data to well-known financial truths. He must be praised for the obvious hard work in writing this book and backing every statement with data. I read it in two days, enjoyed and recommend. Not a 5-star for me because, by having read books like “Random Walk Down Wall Street”, “The Little Book of Common Sense Investing”, and others, I already “just keep buying”.
The book is worth more than the money you pay if your are a young person who is just entering into the world of employment. It will be of good use in planning your retirement. It has a lot of helpful advice for novices entering into investments and saving. It is a book of basics.
Just read the book today. One of the worst book I've ever read. The Chapter "buy or rent" reveals a mediocre middle class thinking from the author with dumb and unwise arguments. As the rest of the book is " more of the same". Catchphrases and basic knowledge that you find anywhere.