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Investor Toolbox: Books
The Informed Investor:
A Hype-Free Guide to Constructing A Sound Financial Portfoli
By Frank Armstrong, III (Amacon, 2002)
This excellent book is highly commended to anyone who is truly serious about investing. The author is a south Florida financial planner and frequent columnist on money matters. With clear and convincing data to support him, Mr. Armstrong debunks many of the myths Wall Street pushes on the investing public. Mr. Armstrong demonstrates the futility of trying to "beat the market", whether through stock picking and market timing or by following mutual funds that have shown high levels of performance in the past. After showing that market gurus, fund managers, (and need we say it) equity analysts, have feet of clay, the author makes a convincing case for trying to meet, rather than beat, the market. Thus, Mr. Armstrong advocates investing in a diversified basket of index funds. Although he recommends utilizing fee-only financial planners (such as himself), he gives sound advice and strategies for building one's own portfolio without outside help. His chapter on investing during retirement is particularly insightful. Whether or not one ultimately agrees with Armstrong's point of view, this is a book which deserves attention.
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