Want to build long-term, sustainable wealth? Then stay out of the stock market!
That’s radically different advice from what the "experts" have served up for decades… but look at the miserable results those pundits have delivered! Investors who’ve chosen equity-based buy-and-hold approaches have seen their assets decline dramatically: not just for a year, but often for decades. Fortunately, there are better ways to invest — and Never Buy Another Stock Again reveals them.
Renowned Reuters financial journalist David Gaffen first explains why stocks are an even worse short- and long-term investment than you realize. Next, he shows how to create a balanced portfolio that reflects a "big-picture," holistic approach, intelligently incorporating cash, real estate, retirement funds, savings, and other holdings. Gaffen’s strategies rely primarily on investments outside the stock market, while identifying strictly limited roles for mutual funds and ETFs. Readers will learn how to: dramatically reduce investing costs that can kill your returns; invest in an environment where double-digit returns can never be expected; overcome huge flaws in conventional diversification strategies; and offset risks associated with existing equity ownership.
Chapter 1: Starting Over 5
Chapter 2: Advice to Ignore 33
Chapter 3: Love Your Emotions, Don’t Trade Them 57
Chapter 4: Investment Strategies That Turn Into Portfolio Nightmares 73
Chapter 5: You Have More Options Than Just Sucking It Up and Accepting Losses 97
Chapter 6: When Diversification Does Not Diversify 117
Chapter 7: Buying a Portfolio—And Selling It 141
Chapter 8: ETFs: A Stock By Any Other Name 163
Chapter 9: Crude and Rude: Commodities, Bonds, and Everything Else You Should (and Shouldn’t) Buy 177
Chapter 10: Putting It All Together 189
Chapter 11: The Outlook for the Future 211