In November, I did a post that listed 7 investment books asgift ideas. I would like to add another book, which arrived in the mail just last week.I didnt ask forit but Im glad it came because I’m finding it a real treat.
The book is Its Not Rocket Science: Plain-English Advice for Managing Your Investmentsand its a 137-page collection of Globe and Mailcolumns and Steadyhand.com blog posts written by Tom Bradley. He is president and co-founder of Steadyhand Investment Funds, a family of actively managed mutual fundswith low MERsbecause they don’t pay trailer fees to financial advisors. And theportfolio managers dont play the closet-indexing game.
Believers in passive index investing might be inclined to bypass this book knowing the author is in the active investing camp. Im only part way through the book but what Im finding isa lot of good senseonthe broader themes such as diversification, discipline, risk, allocation, time horizons. The writing isto the point and informed by over 25 years of experience in the investment world and plenty of reading.
Indeed,this is the kind of book to have on hand to maintain the right frame of mind. For investing is not a matter of technique, as Bradley says, but of temperament. Financial markets are full of ups and down that cause people to panic and lose their perspective. One way to stay anchored is to have a catechism on hand for regular review, and, I daresay, this book could fit into this category.
Copies can be obtained from the Steadyhand website, at no charge. It could make a nice little stocking stuffer, or complement to another gift.