Firstly, who is Phil Town. He is a self-made investor and widely renowned public speaker on investing based in the USA. He wrote one of the most successful investing books out there, called Rule #1 The Simple Strategy for Successful Investing in only 15 minuted a week.
Amazon link to buy: https://amzn.to/3GWGGC9
So who is Phil Town ?
He was a US army veteran who left service in 1972 and did numerous manual Labour jobs before life changed dramatically in 1980. During an outward bound course he was running he met some successful investors who taught him that if you teach a man to fish for himself he will be able to feed himself for life. It was at this point that curiosity got the better of him and he borrowed £ $ 1,000 and five years later was a millionaire.
What is the main premise of the book ?
It is the basis of investing that simply states that you should buy great businesses at a low value and hold onto them for many years. If you wait long enough the market will find will eventually realise their current price and you will be rewarded many times over your original investment.
He states that “the simple strategy for successful investing in only 15 minutes per week”
This book is for everyone, regardless of age, wealth or IQ. If you take the right steps and follow an action plan. You too can be a successful investor and achieve wealth beyond your expectations. His premise is to guide you to attain 15% annual return year on year.
The book was first published in 2006 and has been a best seller ever since.
It sets out the five key figures that really count when picking stocks.
How to use the internet to simplify your research.
How to exploit the advantages of being an individual investor.
Amazon link to buy the book: https://amzn.to/3GWGGC9
So what is the book all about:
Book contents: (307 pages)
Introduction: Make money no matter what.
Chapters:
- The myths of investing
- Rule #1 and the fours Ms
- Buy a business not a stock
- Identify a moat
- The big 5 numbers
- Calculate the big 5
- Bet on the jockey
- Demand a margin of safety
- Calculate the sticker price
- Know the right time to sell
- Grab the stick
- The Three Tools
- Take baby steps
- Eliminate the barriers.
- Prepare for your first rule#1 purchase
- Q&A
Glossary
Acknnowledgments
Index:
So what do I like about this book ?
The style of writing is relatively easy to follow, as it is designed for people starting out with very little investment knowledge. But it a book that can be read very so often to reaffirm upon investment knowledge as your journey moves forward.
The chapters are easy to digest especially if you are a novice investor in a short and concise format. There are lots of helpful tools, graphs and simple illustrations and links throughout he book to assist you in your investment decisions.
The downside though is the tools throughout the book are solely US focused. But the ideas highlighted can be applied the principles of investing and making superior returns, no matter what country you are purchasing those stocks within.
Remember !
If you like this book summary, check out my other blogs posts on investing books at https://moneyminted.co.uk that I recommend reading. Along with other posts on pensions, investing and savings, so you can improve your investing knowledge, so you too can reach your financial goals and aims.
It’s not a get rich quick journey, but you will get there in the end if you create an action plan and think long term.
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