Gone Fishin’ Investment Strategy
Colleague Alex Green has written a marvelous new book - called The Gone Fishin' Portfolio. We mentioned it yesterday. Today, we offer a little more detail.
Investment strategies that are complicated almost never work. Either they are inherently parasitic (like hedge funds) or self-destructively dangerous (like betting on currency moves) or you forget what you are doing and blow them up yourself. The best strategies are extremely simple - as Warren Buffett has proven.
Alex Green, director of investment at the Oxford Club, proposes a very simple approach. You just develop the discipline of putting money in simple, low-cost investment vehicles - such as ETFs and no-load funds. All you have to do is to rebalance your portfolio only once a year, and stick with it. It's not the kind of investment strategy that makes the investment industry rich. It's not the kind that gives you hot tips you can share with your neighbors. But it is the kind of strategy that turns you into the millionaire of your neighborhood.
http://www.amazon.com/exec/obidos/ASIN/0470112670/ref=nosim/agora182-20
Bill Bonner
for The Daily Reckoning Australia
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About the Author
Best-selling investment author Bill Bonner is the founder and president of Agora Publishing, one of the world's most successful consumer newsletter companies. Owner of both Fleet Street Publications and MoneyWeek magazine in the UK, he is also author of the free daily e-mail The Daily Reckoning.
Comment by Mireille on 10 September 2008:
Too simple. No way to cheat. Can't make money. Is there anyone who will offer this?
Comment by mugabe on 11 September 2008:
THis strategy would not have worked well this year
Comment by Dezza on 13 September 2008:
who cares if it wouldn't work well this year? i haven't read this book but i'm betting it advocates long term investing, low fee investing. time and compound interest are your biggest allies.