A Wealth of Common Sense
By: Ben Carlson
Life Skills: 4 out of 5
Entertaining: 2 out of 5
Being social animals, humans are adept at relying on experts to provide advice in areas of importance like law, medicine, and tax accounting. This pattern extends to the world of financial advice and investing, but can also get investors into trouble.
In his book, Chartered Financial Analyst Ben Carlson draws from his years of professional investing experience to deliver straightforward advice to any investor, big or small. The fundamental truth that making investment decisions and philosophies focused on the long term (decades) instead of short term (week to week), will save people from themselves.
Most investing mistakes are either emotional overreactions or overconfident beliefs, fueled by the cognitive biases that plague our decision-making. Implementing Carlson’s practical advice will benefit readers young and old.
Who should read this; Anyone who wants to start investing or is considering working with a financial advisor.
Major lesson learned; Complexity in financial products and plans serves more to confuse (read: dupe) investors than elicit greater returns.
Interesting tidbit; Carlson’s book is named after his blog.
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