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The Only Investment Guide You'll Ever Need

3.93  ·  Rating details ·  2,969 ratings  ·  203 reviews
The Only Investment Guide You'll Ever Need. . . actually lives up to its name.”—Los Angeles Times

“So full of tips and angles that only a booby or a billionaire could not benefit.”—New York Times


For nearly forty years, The Only Investment Guide You'll Ever Need has been a favorite finance guide, earning the allegiance of more than a million readers across America. This
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Paperback, 320 pages
Published April 26th 2016 by Mariner Books (first published 1978)
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Average rating 3.93  · 
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 ·  2,969 ratings  ·  203 reviews


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Jihae
Jan 19, 2008 rated it liked it  ·  review of another edition
i learned few key things from this book:

1. wedding rings depreciate in value and you are better off getting a matching IRA.

2. you should always buy in bulk.

3. never trade commodities.

4. investment professionals don't know much more than you and those who do, you don't have access to them.

5. in general,i learned to buy things that appreciate (mutual fund, savings accounts, homes) than things that depreciate (clothes, cars), not that i can buy anything at all at this point.

this was very helpful
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Christian
Apr 23, 2012 rated it did not like it  ·  review of another edition
Shelves: investing
I really didn't like this book as an introduction to investing, primarily because it does not talk at all about asset allocation and does not really suggest a complete strategy. The previous two books I was reading, The Investment Answer: Learn to Manage Your Money & Protect Your Financial Future and That Thing Rich People Do were much better in my opinion, and also much shorter (around 100 pages).

But other problems with this book were:
- It barely talks about diversification
- Too much
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LATOYA JOVENA
Nov 27, 2016 rated it really liked it  ·  review of another edition
In order for you to learn anything from an investment book you have to be able to pay attention. This simply isn't possible while skimming over a bunch of formulas, figures, and boring advice. At least for me it's not.

This book is funny. It teaches you not just how to play but if you should be playing at all. Andrew isn't trying to push a specific strategy instead he's trying to give you the tools to choose one for yourself.

Bracton
Feb 21, 2013 rated it really liked it  ·  review of another edition
Crossposted from: http://linguisticturn.wordpress.com/2...
Here is a test. Suppose you had $100 in a savings account that paid an interest rate of 2% a year. If you leave the money in the account, how much would you have accumulated after five years: more than $102, exactly $102, or less than $102?

This test might seem a little simple for readers of The Economist. But a survey found that only half of Americans aged over 50 gave the correct answer. If so many people are mathematically challenged,
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Jason
Jan 29, 2011 rated it liked it  ·  review of another edition
This is a good book if you want to get a brief overview of all of the investment vehicles available to you. It did clarify for me what short-sales are, how options are different, etc. I recommend it for anyone wanting to understand just what is out there for investing.

I will give a break down of his book:

1- Saving money is imperative. Don't be stupid and spend it carelessly. A good 50 pages is devoted to money saving tips. Just want to reiterate that a dollar saved is as good as 2 dollars
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Chad Warner
Dec 16, 2008 rated it it was ok  ·  review of another edition
Recommended to Chad by: Chad Brouwer
Shelves: non-fiction, finance
I was expecting a very basic, shallow primer on investing. I was pleasantly surprised to find many areas of the investing world covered in this book. Although this book has been updated many times since it was originally published, the 1990s copy I read was still pretty dated - the author kept saying things like "if you have a computer" and "if you're on the Internet".

I liked many of the author's points and topics:
A penny saved is two pennies earned, when you count time and taxes.
Dollar-cost
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Kevin
May 13, 2015 rated it it was amazing  ·  review of another edition
Shelves: non-fiction
I took a personal finance class in college that I thought was the best thing ever. It covered a lot of the same material (large purchases (cars, homes), insurance, retirement, estate planning, family budgets, etc.). When describing the class' textbook, the teacher said that all personal finance textbooks are terrible, but the one he'd chosen was the least awful. He should have gone with this one, which came to me as a recommendation from my finance-savvy mother. Tobias is fun and funny and just ...more
Zoe
May 30, 2018 rated it really liked it  ·  review of another edition
8/10 for an investment book. Wish I had gotten my hands on this book sooner. For people who want to be financially sound, not for those who wish to get rich quick.

Most investment books are written so that the writer can brag about his/her “winnings”. Rarely do they discuss their failures or the realities of investing. Any book that claims to “make you rich quick”, is BS.

I expected this book to be BS, but it was the opposite. Tobias demonstrates the risks of investing, through his own personal
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Alex Pal.
It's an ok book, it has the basic about money. Save, spend bellow your means, and invest in cheap fix costs index funds. I am not sure that if you need to read only one book this is it, but definitely, it was a pleasant read and the advice is accurate for the person who does not want to be an investing professional.
Matthieu Huard
Good book, covering a lot of topic and give great advice. However a big piece of it is relevant only if you live in the US.
David
Aug 25, 2018 rated it really liked it
This really is NOT the only investment guide you'll ever need. As other reviewers have mentioned it leaves out a lot of the important basics (diversification, AA etc). However, is the first book I've read that discussed more interesting topics like options, futures, LEAPs, P/E ratios, shorting etc

The first part of the book was about being frugal.

Buying in bulk for things you are going to use anyway is an instant tax free return on your money. Let’s say you spend $1000 to buy all of your items
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Toe
Nov 22, 2008 rated it liked it  ·  review of another edition
Shelves: nonfiction
The string of useless personal finance books continues. Ok, that's a little harsh. Tobias's work isn't useless. It's actually decent in that it covers the necessity of frugality, budgeting, long-term planning, and investing. If you follow his strategies and advice, you will be wealthy when you're ready to retire.

He includes a lot of practical information about where to find the best credit cards, cheapest travel arrangements, easiest ways to invest your money, and countless other pieces of
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Lesley Looper
Feb 05, 2019 rated it really liked it  ·  review of another edition
This was an informative read! I especially liked the sections on investing and retirement saving, since I'm working on learning more, saving more, investing more. (Tobias is a fan of mutual funds, which was interesting and good to know.)

In addition to learning more about money, I learned a little about Hetty Green, the "Witch of Wall Street," and want to read up on her!!
Beth Robson
Aug 16, 2019 rated it really liked it  ·  review of another edition
Good advice to follow! Compound compound compound
Dan Becker
May 02, 2016 rated it it was amazing  ·  review of another edition
This is one book that is continually updated, not to change the wisdom, but rather, to deal with the changing world.

I have read this book every decade since its release back in the 70s. As a young student, I enjoyed its sound advice. As a repeat reader, I enjoyed the application of the wisdom to current situations.

For example, here is the wisdom. Avoid get-rich-quick schemes. Avoid high-risk. Avoid high-cost. Spend less than you earn. Economize where you can. These seem to be self-evident.
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Danielle
2.5 stars Very simplistic and entry-level look at investing. If you need the most basic of basics, this book will be good for you but if you know enough about finance to know such things as the difference between a traditional and Roth IRA you probably won't find much new information here.

I'm pretty much as frugal as they come but some of the 'how to save' suggestions were too much for even me. Examples: You don't need a sandwich bag because that plastic bag that your shirt came back from the
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James Frederick
Jun 15, 2018 rated it it was amazing  ·  review of another edition
It is kind of arrogant to come out with a book with a title like this. After having read it, though, I think that the arrogance may be warranted. I REALLY liked this book. It is definitely one of the best investment guides I have ever read and it is chock full of excellent advice and information. It made me think of financial matters in a whole new way. I liked the author's tone, which was very much down to earth and included healthy doses of humor, from time to time. Let's face it...the subject ...more
Ed
Feb 22, 2007 rated it it was amazing  ·  review of another edition
This book is great as a financial primer. This isn't like the other finance books which tell you how to make a killing in the market or buy investments to make you a millionaire ("first, get a million dollars...").

This book is great book to teach simple sound financial principles that we all should already but most of us don't. It is should really be titled "A practical financial guide so you won't have to eat cat food when you are 65 and will have the money to do what you (reasonably) want to
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Mike
Apr 02, 2018 rated it really liked it  ·  review of another edition
Good overview of investing. I like the author's explanation of the book. The only guide you'll ever need but that doesn't mean there aren't other good ones out there or that it's the only one you would ever want to read. He just gives you all the tools you will need. I agree with him for the most part.

But I would still recommend to continue to read to get other advice.
William Frick
Mar 22, 2018 rated it really liked it  ·  review of another edition
Practical introduction into the world of investing.
Pete Klein
Jul 19, 2019 rated it really liked it
Great book, great resources. Highly recommend if you are any level of investor, beginner to Pro.
Samantha Cira
Sep 14, 2007 rated it really liked it  ·  review of another edition
Shelves: finance
This book is a really nice intro to personal finance.
Vikash Anand
Aug 14, 2019 rated it really liked it  ·  review of another edition
The Only Investment Guide You Will Ever Need by Andrew Tobias is a book that give holistic view of almost everything related to financial planning i.e. saving & investing, equity market, mutual funds, index funds, tax implication, professional investment, retail investment, insurance etc.

The Part One of the book deals with tips & tricks to save intelligently using various avenues available in the market i.e. eat cheaper, buy only things which is really required & wait at least 48
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Dmitri Poletaev
May 13, 2017 rated it did not like it  ·  review of another edition
What an idiotic set of advices!

When I took a sample, I liked it and decided to "invest" 10 bucks and buy the whole book. OMG, how stupid that decision was. The author's frugality is rather of an epic proportions! I was laughing out loud when he suggested how you should stockpile canned food and other junk under your table, if you don't have a basement. And real test came to life when the author started to talk about insurance. Unfortunately for him that is my specialty. And I can tell you,
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Steve
Jan 24, 2019 rated it really liked it
If I had read this book before a lot of other financial books and blogs, it might have earned 5 stars. The reality is this information is not new nor is it different from responsible wealth management. Plus, the title of the book suggests one's expectations to be very high, and I'll likely read more financial books even if I only needed this one. It's irrational to use only one source of information even as the author suggests many different websites for help along the way.

I like that he covers
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Jeff Kowalk
I enjoyed this [somewhat snarky] take on personal finance from Mr. Tobias. He keeps his observations and teaching interesting, yet gives you enough information to be helpful. I don't agree with him on everything (particularly with his views on debt and individual stock speculation), but I do think this is an accessible and comprehensive primer on personal finance.

There are better step-by-step guides if you are completely clueless about personal finance (see Dave Ramsey's Total Money Makeover),
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Bruce
Feb 16, 2019 rated it really liked it
Tobias wittily dispenses a lot of common sense in this tenth edition of his book. His advice: first, be thrifty, e.g. buy in bulk at a discount, use the public library, not the bookstore, and pay off your credit cards. Spend less than your income. After you have a year’s annual income safely in your savings account at the bank, then is the time to consider investing in stocks and bonds.

When you’ve saved enough to invest, remember that in the long-term equity will earn more than debt, so buy
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Beth
2.5! rating will probably change since this is the first book I've read about investing, and I don't know what else is out there.

bleh:

-too long,
-lots of jargon
-confusing
-too many stories (where is the substance?)
- title bold, considering that if you're young or just getting into stocks, the book is too esoterically written to understand
-overall opinion rather than.... well, something other than an overall opinion.

ok, yeah:

-charismatic
-quips
-some ok (if not obvious) tips on managing your money
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Suzanne Tanner
Parts of this were not helpful (his whole savings chapter, and other places where his advice was too specific/circumstantial to be useful, like everyone should invest in timber!). Other parts of this were way over my head. I consider myself a decently smart and well educated person, but financial stuff is just so difficult for me to grasp. However, I'm pretty sure I'll return to this one, as it does provide a fairly wide overview of a lot of different things that seem useful to know about. I ...more
Terry Koressel
Jul 04, 2019 rated it really liked it  ·  review of another edition
Let me start with my overall assessment of The Only Investment Guide You'll Ever Need". Great read! Dead-on advice; intelligent; practical; common sense; and witty as hell. I'll bet there are many reviews which criticized the title. Andrew Tobias, like Jack Bogle and Warren Buffet, recommends the simplest of investment strategies for most people....because they are the most consistently successful. The essence of The Only Investment Guide You'll Ever Need is: "Keep it simple to keep it ...more
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“YOU HAVE some money in a savings bank; you are contributing to your company’s 401( k) at the maximum rate allowed; you have equity in a home, if you want it; you’ve tied up $ 1,000 in bulk purchases of tuna fish and shaving cream; you have lowered your auto and homeowner’s insurance premiums by increasing your deductibles; you have adequate term life insurance; you’ve paid off all your 18% installment loans and insulated your attic—you have done, in short, all the things that scream to be done. Now what?” 0 likes
“A very basic thing to know about your money is that, over the really long run, people who buy equities—stocks—will almost surely make a lot more money (if they’re at all sensible in how they do it) than people who make “safer” investments.” 0 likes
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