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Payback Time: Making Big Money Is the Best Revenge! |  | Author: Phil Town
Publisher: Crown Business
Category: Book
List Price: $26.99
Buy New: $13.64
as of 7/28/2010 08:39 MDT details
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New (42) Used (18) from $12.94
Seller: BIG-RED-STAR
Rating:  38 reviews
Sales Rank: 13624
Media: Hardcover
Pages: 288
Number Of Items: 1
Shipping Weight (lbs): 1.2
Dimensions (in): 9.3 x 6.1 x 1.1
ISBN: 0307461866
Dewey Decimal Number: 332.6
EAN: 9780307461865
ASIN: 0307461866
Publication Date: March 2, 2010
Availability: Usually ships in 1-2 business days
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Product Description
Don’t get mad, get even…
Phil Town’s first book, the #1 New York Times bestseller Rule #1, was a guide to stock trading for people who believe they lack the knowledge to trade. But because many people aren’t ready to go from mutual funds directly into trading without understanding investing—for the long term – he created Payback Time.
Too often, people see long-term investing as “mutual fund contributing” – otherwise known as “long-term hoping.” But the sad truth is that mutual fund investors are, to a stunning degree, pinning their hopes on an institution that is hopeless. It turns out that only 4% of fund managers consistently beat the S&P 500 index over the long term, which means that 96% of fund investors see a smaller return on their nest egg than a chimpanzee who simply buys stocks in the 500 biggest companies in America and watches what happens.
But it’s worse than that. The net effect of hitching your wagon to mutual funds is that over a lifetime they’ll fritter away as much 60% of your nest egg in fees. Once you understand how funds engineer this, you’ll rush to invest on your own.
Payback Time’s risk-free approach is called “stockpiling” and it’s how billionaires get rich in bad markets. It’s a set of rules for investing (not trading but investing) in the right businesses at the right time -- rules that will ensure you make the big money.
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| Customer Reviews:
Showing reviews 1-5 of 38
 Valuable Introduction to Buying Low and Selling High as an Individual Investor April 11, 2010
Professor Donald Mitchell (Thanks for Providing My Reviews over 96,000 Helpful Votes Globally)
10 out of 10 found this review helpful
"Both low and high,
Rich and poor together." -- Psalm 49:2 (NKJV)
If you read and liked Rule #1 and are using that method, you probably will be disappointed in Payback Time. If Rule #1 seemed appealing, but was beyond what you could apply on your own, you'll probably find Payback Time easier to use.
I once attended a major investing seminar conducted by one of the most famous motivational speakers in the world. He spent two hours on an exercise where we were supposed to learn to buy low and sell high. Most people were delighted with that lesson, even though we only learned the principle . . . not how to implement it. I was shocked to see how little it takes to please those who don't know much about stock investing. But I assume you are well beyond that level.
If you are fan of Rule #1 (as I am), let me cut to the chase: Payback Time primarily gives you a buy-low-and-hold version of Rule #1 along with an update concerning online resources available and a more complete Web site to help you perform the details. Of the two books, Rule #1 is for those who want to be very active investors. Payback Time is for those who want to do less work and pay less attention to the market day-to-day.
Lest you take that point lightly, let me mention that I once had a book contract to write a similar book. I returned the contract after a few months of struggling to explain in simple language with not too many words how to do some similar evaluations. I found it to be harder than it was worth doing. As a result, I admire Phil Town for sticking with his writing to produce a book that is clear, simple, and not too hard to implement.
Do I take exception to anything he had to say? Sure I do. Anyone would. But the advice is pretty sound.
I thought the best part of the book was in defining the sell discipline, something few investment books take seriously. I think he sets a pretty high target, one that may cause you to miss some well-timed selling opportunities.
The main problem with the method is that to have lots of opportunities you require stock market collapses occurring reasonably often. During a period such as the 1990s (especially on the NASDAQ), you might find it difficult to apply the method to stocks you understand well that are dramatically under priced. In today's environment, I suspect bargains by this method are few, for instance.
My main quibble with the book is that Mr. Town spends about 20 percent of the content explaining that mutual fund returns aren't very good, the expenses piled onto mutual funds cause your returns to be much lower, and sharing his view that you cannot count on Social Security. All of this material was worth about two or three pages, not fifty.
Do your homework!
Great add up to Rule #1 April 25, 2010
R. Teran (New York, NY USA)
3 out of 3 found this review helpful
I have my own results to prove what I learned from Phil's Book Rule One and Payback Time. I started a 100K portfolio in february 2009 when all the technical indicators on the S&P 500 where indicating me to get in. I picked 8 stocks that I screened according to his methods that meet the Big 5 numbers criteria , had meaning, moat and good management. Its been a little more than a year , i sold a few times and bought back. Currently my portfolio is up 161.5% in a little more than one year. I started using packback time as a screening tool now and picked a few Rule one stocks with Payback times of less than 7 years 1 month ago, since then I am up 11% compared to the Dow 3.26% . I am a believer in Phil's teaching. If you follow every step methodically and get your emotions out of you decision making I am sure you'll more than beat the market. I am doing it and expect to keep doing it. I knew very little about investing before reading Phil Town's . To me this are the best practical books about investing in stocks for the long term. Anyone that doesn't get the result I am getting is not following all the steps thoroughly.
Great job Phil.
I hope to to talk to you soon on your blog.
Excellent explanation of a powerful strategy May 25, 2010
James Gerlacki (Bethlehem, PA USA)
1 out of 1 found this review helpful
There is not a lot of new information here than what was presented in Mr. Town's previous book, "Rule #1" It's the same basic underlying technique to find and evaluate great companies, but the Pacback Time method focuses more on finding and holding them(and buying more when the time is right), where Rule #1 was more focused on actively trading them. The buy and hold approach appeals much more to me personally as a long-term investor.
That said, this is an excellent book and and a very powerful strategy. It is very well explained in layman's terms, and you don't need any finance or economics training to see the potential here.
I recommend this book over Rule #1, if for no other reason than it's more updated and better reflects the current state of the economy. It also has updated information on the free resources on the web to find financial data, and doesn't advocate buying any third-party (and very expensive) financial software.
Pay Back Time Delivers July 19, 2010
nuskinsue
1 out of 1 found this review helpful
Phil Town delivers investing information in an interesting and easy to follow way. I truly enjoy reading his books. He's a great public speaker, too, and his books are written as though he were talking to you. His snippit stories mixed into the informative chapters break up the lessons, making it even more enjoyable. For the average person who knows little about how to invest wisely, this book, along with his other "Rule #1" book, is the way to become knowledgable. Read, then, go out and practice with a margin of safety.
Payback Time March 30, 2010
H. Craig Watson (Oswego, IL)
Phil Town has done it once again with his new book, "Payback Time." After reading his previous book, "Rule #1," I felt like I could become a shrewd investor because of Phil's easy explanations. In "Payback Time" Phil gets into even more detail about buying stocks and steers the novice into the proper investment direction. I recommend this book highly to anyone who wants to buy into "wonderful" companies with no risk.
Showing reviews 1-5 of 38
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