Synopses & Reviews
As Chairman and CEO of one of the most respected mutual fund companies in the world The Vanguard Group Jack Brennan has made a career out of helping people invest for long-term success. Now, in
Straight Talk on Investing, Brennan draws on two decades of investment experience to explain in a simple, straightforward way how to invest with confidence through both bull and bear markets.
Investing successfully is easier than most people think, says Brennan. Starting with a clear explanation of the financial facts of life, Brennan explains how to know who to trust (and who not to), how to outline a financial game plan, and how to develop goodand often painlesssaving habits.
Brennan presents the tools and techniques you needwithout getting bogged down in complicated financial jargonto construct a sensible mutual fund portfolio and manage it with focus and discipline. Youll learn how to:
- Reduce risk by making good use of balance and diversification
- Know what to look forand what to avoidwhen picking funds
- Profit from the gift of time
- Control your costs
- Stay on track by giving your portfolio an occasional tune-up
Rounding out this straightforward discussion on investing is a comprehensive look at how information overload, market events, investment fads, and psychological factors can derail novice and expert investors alike.
Straight Talk on Investing will help you avoid the pitfalls and stay on course toward your financial objectives whether the market is soaring, slumping, or moving sideways.
Based on Brennans experience in the investment business and the success stories of thousands of real investors over the years, Straight Talk on Investing is about practical advice and meaningful guidance. Setting up a sound investment program and managing it effectively are well within your reach. With Straight Talk on Investing, youll learn from an investment leader the best ways to approach investing so that you can get through any market successfully.
Review
"A plain-speaking primer on how to build a sensible long-term investment portfolio....The emphasis is on long-term goals and balance rather than playing the market....Filled with practical 'do your homework' and 'trust diversification' advice, this book is an easy-to-read first title on investing." Publishers Weekly
Review
"A wonderful book on investing basics for people trying to get a better handle on their money. Right now, I'd say that's everyone." Jane Bryant Quinn, Newsweek columnist and author of Making the Most of Your Money
Synopsis
Marta McCave (Wayne, PA) is a senior financial writer for The Vanguard Group and a former journalist. She was a founding member of the national reporting staff of USA Today and was a contributor to a number of newspapers and magazines before joining Vanguard.
Synopsis
Includes bibliographical references (p. 233-234) and index.
Synopsis
Classic investment guidance for everyone
As Chairman and CEO of one of the most respected mutual fund companies in the world, The Vanguard Group, Jack Brennan has made a career out of helping people invest for long-term success. In Straight Talk on Investing, he cuts to the chase and provides readers with sound advice and solid guidance to investing for today and tomorrow, in a bull market or bear market. Starting with a clear explanation of the financial facts of life, Brennan explains that investing is a lot easier than most people think. He shows readers how to develop a financial plan, construct and manage a sensible investment program, and maintain perspective in a sometimes crazy world. Refreshing in its simplicity and honesty, Straight Talk on Investing is a badly needed tonic to the hangover of the bull market of the 1990s. Filled with meaningful guidance for investors from a leading investment luminary, this invaluable resource will help readers make better investment decisions and restore financial faith in themselves, so they can confidently navigate the markets toward their financial goals.
Jack Brennan (Wayne, PA) is the Chairman and CEO of The Vanguard Group, the world's second-largest mutual fund company, with $600 billion in assets under management and 15 million shareholder accounts. Mr. Brennan is a frequent guest on financial news programs and is regularly quoted in leading business and personal finance publications, including The Wall Street Journal and The New York Times. In 2000 and 2001, SmartMoney ranked him as one of the most influential individuals in investing.
Marta McCave (Wayne, PA) is a senior financial writer for The Vanguard Group and a former journalist. She was a founding member of the national reporting staff of USA Today and was a contributor to a number of newspapers and magazines before joining Vanguard.
Synopsis
"Eternal verities in simple language. By all means, turn off your TV and read this book."
-William F. Sharpe, Professor Emeritus, Stanford University Graduate School of Business
Recipient of the Nobel Prize in Economics, 1990
"This gem of an investment guide packs into 200 pages everything an individual needs to know to make informed savings and investment decisions. The advice is elegantly simple, eminently sensible, and delightfully readable. Straight Talk belongs on every investor's bookshelf."
-Burton Malkiel, author of A Random Walk Down Wall Street
About the Author
Ready for a postholiday smorgasbord? Here's a taste of four recently released financial titles for your investing pleasure.
If you're familiar with The Vanguard Group's mutual funds and heard that Vanguard's "Jack" has a new book out, your first thought was probably of John Bogle, founder of the fund family who's also an author and champion of the individual investor. But since Bogle's retirement, another Jack has taken over the helm and written a book of his own. Jack Brennan teamed up with Marta McCave, a senior financial writer at Vanguard, to write Straight Talk on Investing, an investing primer that reflects the firm's emphasis on simplicity and efficiency.
Straight Talk offers three steps beginning investors should take when starting out, the most important of which is living below one's means. Brennan bolsters this point and others with lively anecdotes and imbues the book with a highly personalized tone. He frequently addresses his readers directly while sharing the wisdom he's attained in his 21-year tenure at Vanguard and the mistakes he's made in his own portfolio. These stories add a warm yet authoritative touch to Brennan's commonsense advice and make Straight Talk as enjoyable as it is educational.
As you might expect, Straight Talk is a fantastic resource if you'd like to learn more about mutual funds. Somewhat predictably, Brennan recommends that investors concentrate their "serious" investment dollars in mutual funds rather than individual stocks. His major reasons center on diversification, which he believes can be too difficult or costly for investors to achieve with individual stocks. He admits that professional fund managers have difficulty beating broad market indexes over time but still thinks professionals hold an advantage over individual investors, who might let their emotions interfere with important investment decisions.
To Brennan's credit, the sections on mutual fund investing don't read like advertising for Vanguard funds. He shares insights into the fund industry and gives investors valuable information to use when studying funds. He stresses the importance of balance and diversification in constructing a portfolio and of understanding the role risk plays in investment choices and results. Asset allocation and four tips for surviving a bear market are other featured topics.
Brennan treats his subject with great seriousness without taking himself too seriously. The glossary isn't called a glossary, but rather "Some Investing Jargon." His recommended reading leans toward books examining the social phenomena surrounding investing than to sober tomes filled with theory. This lighthearted attitude is the spoonful of sugar that makes his investment education completely palatable.
Straight Talk is just what the title suggests: a book filled with basic investment advice and solid strategies for creating a profitable portfolio. Brennan presents a reasonable approach that allows investors to filter out market distractions while investing. (Better Investing, February 2003)
"...Brennan's book...which succeeds as an excellent guide for beginners." (Business Week, February 10, 2003)
Table of Contents
Preface.
Acknowledgments.
PART 1: Master the Basics.
A look at the financial facts of life.
Chapter 1: Successful Investing Is Easier Than You Think.
Chapter 2: You've Gotta Have Trust.
Chapter 3: A Map to Success: Hmmm, Sounds Like a Plan.
Chapter 4: Save More-Without Feeling the Pinch.
Chapter 5: Hope for the Best-But Prepare for Something Less.
PART 2: Construct a Sensible Portfolio.
Investing is like a marathon, so you'll want to suit up appropriately Here's how.
Chapter 6: Balance and Diversification Help You Sleep at Night.
Chapter 7: You Need a Personal Investment Policy Whether You Start with Zillions or Zip.
Chapter 8: Mutual Funds: The Easy Way to Diversify.
Chapter 9: How to Pick a Mutual Fund (And How Not To).
Chapter 10: It's What You Keep That Counts.
Chapter 11: Risk: Give It the Gut Test.
Chapter 12: Keep Things Simple.
PART 3: Manage Your Investments with Focus and Discipline.
Once you assemble a well-constructed portfolio, you don't have to spend every waking moment tending to it-in fact, you'll be better off if you don't.
Chapter 13: Buy and Hold Really Works.
Chapter 14: Making Money Is What Matters.
Chapter 15: Time Is Everything.
Chapter 16: Give Your Portfolio an Occasional Tune-Up.
Chapter 17: Stupid Math Tricks for Smart Investors.
PART 4: Stay on Course.
A look at the things that can cause investors to come unglued.
Chapter 18: "It's a Mad, Mad, Mad, Mad World".
Chapter 19: Why You May Be Your Own Worst Enemy.
Chapter 20: Bear Markets Will Test Your Resolve.
Chapter 21: "Ain't Got No Distractions, Can't Hear Those Buzzers and Bells".
Chapter 22: Regrets? I've Had a Few.
Appendix A: A Guide to Stock and Bond Funds.
Appendix B: Some Industry Jargon.
Recommended Reading: For Background and for Fun.
Index.