Investing without Wall Street: The Five Essentials of Financial Freedom
Format: PDF / Kindle (mobi) / ePub
Praise for Sheldon Jacobs
"Sheldon Jacobs is a level-headed gentleman who is a cross between Albert Einstein, the Dalai Lama, and Vanguard founder Jack Bogle and who had a solid record editing and publishing The No-Load Fund Investor financial newsletter for over a quarter-century."
"King of no-loads."
—Investor's Business Daily
"Dean of the no-load fund watchers."
"Among financial experts who are able to think with a small investor's perspective, no one is more level-headed than Sheldon Jacobs."
In July of 1993, Sheldon Jacobs was one of five nationally recognized mutual fund advisors chosen by The New York Times for a mutual fund portfolio competition. The portfolio that he selected produced the highest return of all contestants for almost seven years, and the Times quarterly publication of this contest helped him become one of the best-known mutual fund advisorsin America.
Investing without Wall Street shows investors how to achieve the greatest wealth with the least effort. It details the five essentials that even a kid could master and shows that they are all you need to be a successful investor. With this knowledge, the average investor can invest on his or her own and make $252,000 more than a person investing the same way who shares his or her profits with professionals. This book will teach you how.
read extensively to be an accomplished investor. I think the best source is a newspaper. There are three outstanding newspapers that I believe are must-reads for involved investors: The Wall Street Journal and Barron’s both published by News Corp., and the Sunday edition of The New York Times. All three are now available by carrier delivery in most major U.S. cities. The New York Times usually has special rates for weekend only home delivery. Also The Times’ columnists and selected business and
he selfpublishes to the same end. In other cases the expert has a “platform,” a radio or TV show or column that gives him wide exposure and a pre-sold audience. I would offer this guidance. Look for a book written by an author who has worked with, talked to, and advised individual investors, or done a lot of investing on his or her own. I qualify on several counts. I used to have managed account clients. I practice what I preach, doing all my own investing. And I learn a lot from the Q and A’s
older men sitting there, hour after hour, watching the tape. On rare occasions, one would get up and talk to a broker. I could never figure out whether any of them were real customers or just retired people killing time. I Fail to “Improve” the NBC Nightly News c05.indd 67 10/02/12 1:08 PM 68 The Five Essentials A number of firms including Fidelity and TD Waterhouse still have street-level brokerage offices, but the ones I’ve seen don’t have chairs for customers to watch a tape. This
through, you were in good shape. And, if they didn’t? Well, it didn’t really matter. The most famous contest I was ever in ran in The New York Times from 1993 to 2000. Besides me there were four other contestants: Eric Kobren, then editor of Fidelity Insight newsletter; John Rekenthaler from Morningstar; Harold Evensky, a Coral Gables, Florida, investment c06.indd 94 10/02/12 1:09 PM Developing Media Expertise 95 manager, and Jack Brill, a San Diego investment manager who created a
lowered your rewards, but that’s the tradeoff.) Specifically, market timing seems to: • Offer reassurance and comfort. • Give hope that the timer will get you out at the top or in at the bottom, which could make economic sense if you have even one or two successes. • Give the illusion of control. Don’t underestimate the importance of that illusion. Statistics show that airplane travel is safer than auto travel, but many people act as if the reverse were true. That’s because driving a car gives an