(Reviewed by JD Jung)
“A good investment program is usually a boring one that allows an investor to sleep well at night…”
Personal investor, James Pattersenn Jr. explains his steps to lucrative, “worry free” investing that beats market performance over the long-term in his comprehensive guide, You Can Invest Like A Stock Market Pro: How to Use Simple and Powerful Strategies of the World’s Greatest Investors to Build Wealth.
Through his own success and that of other well-known investors, he provides strategies that enable you to create an investment portfolio that you only have to check 12-20 times a year! Yes, it takes research, patience and discipline.
But how can an investment be worry-free? Note that “worry-free” does not mean “risk-free.” Pattersenn teaches investors how to identify companies that meet specific criteria and insists that one should invest long term, holding stocks no less than ten years. Investing in the short-term is too risky and of course stay away from margin accounts. Also don’t try to time the market.
So one can see that this is not for those with a “get rich quick” mentality. However, he does promote in investing non-traditionally such as buying during a recession when everyone is selling.
What I particularly appreciate is that he offers a multitude of websites and investment tools to assist in the process. He also suggests setting up a “practice portfolio”.
I also found it helpful that he gives his own investment history: purchases, sales and position changes and explains why he did what he did.
He uses concise terminology and explanations for the beginning investor. He also shows you how to establish a disciplined way to fund an investment program and how to find extra money to fund it.
I recommend this book to those who are interested in investing in the stock market over the long-term, but not for those who want to make an immediate “killing”. That said, I will personally refer to it often as well as the wealth of resources mentioned in it.
