Changes

From TheBookbag
Jump to navigationJump to search
no edit summary
I was prepared to be annoyed with Professor Kay, particularly with his habit of telling us what he's going to be telling us in future chapters on a regular basis and reminding us of the sexual peccadilloes of the famous when this has nothing to do with the subject under discussion. It took a while to strip all this away and realise that what's underneath is actually a very good book.
In fairness , this isn't a book for someone hoping for a quick introduction to how to make money on the Stock Market. You might not need to be erudite to read it, but you will need to apply yourself if you're outside the industry and the content is likely to appeal to people who lean towards popular science. If you've never raised your head above the parapets of ''The Da Vinci Code'' then you're going to struggle. I'm not certain that being a 40% tax payer taxpayer is necessarily obligatory, but if you're only considering investing in a very small way then mastering this book is probably not going to be worth the effort.
Forget too the possibility that you'll pick up some tips about specific shares. As Professor Kay points out this isn't within the scope of the book and the delay between writing and publication would make any tip worthless. What you will get is an explanation of the principles of sound investment delivered in language which all can understand. There's are wit and humour and there's a great deal of sound common sense of the 'now why didn't I think of it like that before?' variety.
The recent financial crises has have confounded even people who thought that they were wise in the ways of the money markets but Professor Kay gives a clear explanation of how we have got into this mess. It's not a book about past disasters but rather about how a wise investor can arm himself with sufficient knowledge to make the system work to his benefit. You are your own best fund manager.
Some of the ideas are complex, but others are quite obvious. If you read nothing else in the book but the explanations of different types of investment then you will be much better off – an amazing number of investments are sold to people who simply don't understand what they are buying. Beyond these basics , you'll understand the efficient market hypothesis ('if the knowledge is public then it's already in the price') and the principle of the fundamental value of a company.
The book delivered a 'eureka!' moment for me in the chapters which deal with risk. I've always considered myself to be risk-averse and it came as something of a shock to realise that this was not the case. There's also a temptation to look at risk from a personal point of view and it was enlightening to consider it from other perspectives.
Most useful to me was advice on how to separate the fact from the fiction of what companies and fund managers say – and essential to remember to ask 'Why would I want to buy what they want to sell?' It pays to remember that the finance industry is sophisticated and complex (occasionally, intentionally so) – and based on greed and self-interest. It's not a place for the unwary.
Initially , the book highlighted a lot of my own failings and misconceptions about the Stock Market and I thought that it would put me off investing completely, but the more I read the more my confidence grew. I'm going to have to completely reassess my attitudes but I feel more in control than I did before I read the book.
I'd like to thank the publishers for sending a copy to The Bookbag.
Those 40% tax payers taxpayers (and others) could well benefit from reading Jane Vass' [[Daily Mail Tax Guide 2008/2009 by Jane Vass|Daily Mail Tax Guide]]. We've also advice on how to [[This Is How You Can Earn Money In Medical Sales|earn money]].
{{amazontext|amazon=0954809327}}

Navigation menu