Ebook Battle for Investment Survival, by Gerald M. Loeb
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Battle for Investment Survival, by Gerald M. Loeb
Ebook Battle for Investment Survival, by Gerald M. Loeb
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From the Back Cover
"Loeb tells us to put all our eggs in one basket, and watch the basket." ?John RothchildFinancial Columnist, Time magazine "This book is very special in my life. It is the very first Wall Street book I ever read. After reading 1,200 additional finance books, The Battle for Investment Survival's principles and concepts are still valid for consistent success." ?Victor Sperandeo Author of Trader Vic on Commodities In The Battle for Investment Survival, the turf is Wall Street, the goal is to preserve your capital at all costs, and to win is to "make a killing without being killed." This memorable classic, originally written in 1935, offers a fresh perspective on investing from times past. The Battle for Investment Survival treats investors to a straightforward account of how to profit?and how to avoid profit loss?in what Loeb would describe as the constant tug-of-war between rising and falling markets.
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About the Author
GERALD M. LOEB worked on Wall Street as a stockbroker for forty years, beginning in the late 1920s. He was also a financial writer whose articles were published in Barron's, Wall Street Today, and Investor Magazine. A prolific writer throughout his career, Loeb also authored Gerald Loeb's Checklist for Buying Stocks and Your Battle for Stock Market Profits.
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Product details
Hardcover: 336 pages
Publisher: Wiley (June 11, 2007)
Language: English
ISBN-10: 0470110031
ISBN-13: 978-0470110034
Product Dimensions:
5.8 x 1.1 x 8.9 inches
Shipping Weight: 15.5 ounces (View shipping rates and policies)
Average Customer Review:
4.3 out of 5 stars
61 customer reviews
Amazon Best Sellers Rank:
#468,460 in Books (See Top 100 in Books)
This is a must read book. Most people really do not understand how hard it is to keep their money safe. Many of the threats to money are almost invisible, nibbling here and there. But by the magic of compounding, these "tiny" nibbles can cut your money in half over time. e.g., a 2% inflation (what the Fed calls "no inflation") will cut your money in half in 36 years. So if you're 50 and live to be 86, you will live your last year on half the money you have now. Just a tiny 1% increase in the sales tax? Over time, it will impoverish you if your money doesn't grow more than 1%.Loeb travelled the world as part of his investment business. He saw everything-- earthquakes, wars, revolutions, ravening inflations. People fleeing with all they could rescue of their lifetime savings on their backs. This led him to a great insight: There is no way to keep money safe from all the threats to it. The only way to keep your money "safe" is to grow it faster than it is nibbled away. So this book is about how to grow your money.This book was first written a long time ago, but the lessons are still important. These are things most people don't know and most investment books don't cover. In fact, a lot of the standard investment advice-- the kind a "financial advisor" will be swarming you with-- will not grow your money and will not keep it safe from all the tiny, invisible erosions.Please, read this book and think it all thru again. Do you really want to have all your money in a residence and rental property in earthquake and tornado country the way one hard saver I know does? Do you want to have 5 typed pages of load mutual funds to be properly "diversified" the way my sister did when she died? Do you want to keep your money "safe" in bonds now that you're retired the way my doctor is being advised to do? Do you really want to vote for that sales tax increase that's "only" 1% the way my aunt did?
The Battle for Investment Survival is referenced in The Zurich Axioms, an excellent book I read earlier. As such I was curious to read it. This is a second edition of this book that was published in 1957. I don't know when the first edition was written. The author is a 35 years, seasoned, stock broker who lays out his experience and advice in this book. It is broken down to 96 short chapters, followed by (in the second edition) notes and lectures that the author made after writing this book. I liked it for the useful and interesting information, some of it contrary to main stream investment status quo. I felt at times that some of it could be cut a little shorter to convey the same idea. I, personally, had somewhat of a hard time with the language or writing style of the author. It might be the style of writing at the time or just his own style, I don't know which. He is using long run-on sentences that are becoming hard to follow sometimes. Also, the use of terms in ways that are not used in present day, had me stop and re-read and think before I could continue. All on its own it is not a bad thing except for slowing me down. I don't feel that this book taught me anything ground breaking but I'm very pleased for having read it. Some of my favorite quotes:"There is no line of endeavor in the world where real knowledge will pay as rich or as quick a monetary reward as Wall Street.""There are three ways of making money. One is to sell your time. The second is to lend your money. The third is to risk your money."And my favorite of them all:"people who invest money for others have legal and moral responsibilities which often hinder the use of investment practices most likely to succeed."
This is a book that will increase your understanding of the world of money and what you have to do to protect your future. Loeb travelled all over the world and saw *everything*-- war, revolution, economic collapse, earthquakes, inflation, starvation, people losing everything, fleeing for their lives. He also lived a long time and saw many changes in US laws and taxation. His basic point is that money is never safe. Never. You think you can keep it safe in a bank, or under a mattress, or in government bonds, but even when it is not being outright confiscated or stolen, the purchasing power it is supposed to preserve is being constantly chipped away by inflation, taxation, regulation.In his view, the only way to keep money safe is to invest it in a way that will return enough to make up for what is eroded and chipped away. Liquidity matters. Don't have it all in one location-- i.e. don't have a lot in real estate in the same location you have your business in. e.g. California before the real estate bust and economic crash.I happen to believe his investment style is correct: don't invest it all, be very selective about your buys, have only a few A+ ideas, and watch them carefully. When opportunity presents, go after it 100%. Keep losses small.But even if you don't agree with everything Loeb says, this book is full of investment *wisdom*, and it will increase your wisdom enough so you will recognize and avoid the "advisor" who comes at you slinging jargon and investment "facts" hoping to fool you into thinking he knows anything.
I recently downloaded "The Battle for Investment Survival" into Kindle.I had first read this book at an Army post in 1969.I read it and reread it many times to get the major points by G.M Loeb.It opened my eyes to the most common sense, intelligent adviceabout the stock market that has followed me through today.to quote the book:"It is absolutely futile to get results except to buying into anticipatedlarge gains. It is far better to let cash set idle than to invest just tokeep invested or for income. It fact it is really vital ........ one of thewidest differences between the successful professional and theloss taking amateur."I believe this book offers the best investment advice a 72 year oldhas ever read.
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