The Physician's Guide to Investing: A Practical Approach to Building Wealth

In comments that were unfortunately prescient, Dr. Doroghazi said in the first edition "the author feels we are currently experiencing a real estate bubble." And in anticipation of the credit crisis, he said "banks are far too lenient in their lending practices...the problem is that bankers are often not lending their own money...considering that a significant percentages of mortgages are sold to Fannie Mae (FNM) and Freddie Mac (FRE), the problem is now actually everyone's."       This new and expanded edition provides commonsense advice that all investors, physicians and non-physicians will find profitable in these difficult times. Learn about the power of thrift, the magnificence of compound interest, the malevolence of debt and the perniciousness of fees. See how to pay off the mortgage by age 45, fund your children's education and retire at a reasonable age rather than continue to work because you must.       This book is unique, providing advice you will find nowhere else, such as how to deal with bankers and real estate agents on your terms rather than theirs, how to save one-quarter or more on restaurant bills, the importance of charity, and why lack of financial instruction is the greatest deficiency of medical education in the United States.           Dr. Doroghazi was a successful physician and is a successful investor. He paid his own way through college and medical school, graduating with Honors from the University of Chicago, Pritzker School of Medicine, and was elected to Alpha Omega Alpha. He completed his training in Internal Medicine at the Massachusetts General Hospital and Cardiology at Barnes Hospital. After retiring at age 54, he writes The Physician Investor Newsletter and is active in many charitable and civic organizations.

In The Physician's Guide to Investing: A Practical Approach to Building Wealth, a successful physician/investor and a professor of finance join forces to present an easy-to-read, commonsense guide to investing tailored to the needs of medical students and physicians of all ages and disciplines. Giving simple, practical advice on how health professionals can manage and invest their money, the book covers all general aspects of investing and financial planning, with the ultimate long-term goal of attaining financial security. Physicians will quickly discover what is a reasonable rate of return on an investment, when the return on an investment should immediately cause alarm, and how to recognize when a real opportunity does arise. They will also find profitable suggestions about paying off their mortgage early, the power of thrift, when to buy and when to sell an asset, and whether to invest in stocks, bonds, real estate, collectibles, or art. In addition, the author offers sound advice on setting financial goals, drawing up appropriate documents, saving for retirement and a child's education, purchasing insurance, and minimizing fees. Dr. Doroghazi's advice is based on many years of personal financial management and investing, which have allowed him to pay his own way through college and medical school, own his own home and a vacation condominium free of debt, fund his children's education, and have accumulated sufficient assets to retire at an early age.

This new, expanded edition provides investment advice that physicians and non-physicians alike will find profitable in these difficult times. Learn about the power of thrift and the magnificence of compound interest, as well paying off your mortgage by 45.

Dedication Reviews of First Edition, including Buffett Consulting Editor's Preface to First Edition Introduction Acknowledgements Part I. On Track with Your Financial Goals Chapter One: The Importance of Financial Instruction* (*denotes new chapter) Chapter Two: Goals for Your Financial Return Chapter Three: The Magnificence of Compound Interest Part II: Avoid Being Diverted From Your Financial Goals Chapter Four: Arrogance, Ego and Greed. Chapter Five: The Mark and The Doctor Discount Chapter Six: It's Not Much, I Can Afford to Lose It: The Concept of Risk Part III. Principles for Achieving Your Financial Goals Chapter Seven: Define Specific Goals Chapter Eight: Thrift Chapter Nine: Invest in What You Know Chapter Ten: How to Identify Real Opportunities Chapter Eleven: Make Your Own Investment Decisions Chapter Twelve: Documents Required for Financial Security Chapter Thirteen: The Importance of Relationships: Goodwill, Friendship and Reciprocity Chapter Fourteen: Why Cash is King* Part IV. Attaining Specific Goals Chapter Fifteen: Paying Daily Bills Chapter Sixteen: Your Home Chapter Seventeen: Funding Your Children's Education. Chapter Eighteen: Insurance Chapter Nineteen: Funding Retirement Part V. Pitfalls in the Quest for Your Financial Goals Chapter Twenty: Who Can You Trust? Chapter Twenty One: The Malevolence of Debt Chapter Twenty Two: The Perniciousness of Fees Chapter Twenty Three: Divorce* Chapter Twenty Four: Tips: Real Opportunities or Useless Information. Chapter Twenty Five: Areas Where Caution is Essential or That Should be Completely Avoided Chapter Twenty Six: Yes or No Chapter Twenty Seven: Dealing With Bankers Part VI: Investing in Specific Assets Chapter Twenty Eight: Asset Allocation and Diversification Chapter Twenty Nine: When to Buy Chapter Thirty: When to Sell Chapter Thirty One: Stocks, Bonds and Mutual Funds Chapter Thirty Two: Real Estate Other Than Your Home Chapter Thirty Three: Precious Metals and Commodities* Chapter Thirty Four: Art and Other Collectibles* Chapter Thirty Five: Other Types of Investments Part VII: More Tips for Realizing Your Financial Goals Chapter Thirty Six: Obtaining Investment Information Chapter Thirty Seven: On-line Brokers and Using the Internet* Chapter Thirty Eight: Investment Strategies of the Pros Chapter Thirty Nine: Tidbits of Advice Chapter Forty: The Importance of Charity*