Master the Art of Business
A world-class business education in a single volume. Learn the universal principles behind every successful business, then use these ideas to make more money, get more done, and have more fun in your life and work.
From The Personal MBA's List of the 99 Best Business Books...
Review: 'Fail-Safe Investing' by Harry Browne
Warren Buffett famously has two rules of investing. Rule #1: Don't Lose Money. Rule #2: Never Forget Rule #1. Fail-Safe Investing follows Buffett's lead by teaching you how to protect your net worth against whatever the market throws your way without sacrificing your portfolio's performance.
One of the central tenants of Fail-Safe Investing is that people have absolutely no reliable means of predicting the future. Since investment requires purchasing an asset whose price and/or value will appreciate over time, that limitation is a huge issue, making most market activity little more than speculation.
Browne suggests structuring your financial portfolio in a way that will ensure it generates solid annual returns while maintaining value in even the most extreme and uncertain economic conditions - inflation, deflation, and recession.
While the structure of this portfolio is deeply counterintuitive, this strategy has generated ~10% compound annual growth since the 1970s, with a maximum drop in the worth of the portfolio of 6% in any given year. That's impressive.
While the investment strategy Fail-Safe Investing suggests appears to be extremely conservative (25% of the portfolio is in gold, with another 25% in cash equivalents), the advice in this book will help you generate solid annual returns without much effort, as well as weather almost any financial storm with your portfolio (and sense of financial security) intact. That type of knowledge is priceless.
For a preview of the information contained in this book, check out Browne's 16 Golden Rules of Investing.
Buy 'Fail-Safe Investing' by Harry Browne
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Master the Art of Business
A world-class business education in a single volume. Learn the universal principles behind every successful business, then use these ideas to make more money, get more done, and have more fun in your life and work.
About Josh Kaufman
Josh Kaufman is an acclaimed business, learning, and skill acquisition expert. He is the author of two international bestsellers: The Personal MBA and The First 20 Hours. Josh's research and writing have helped millions of people worldwide learn the fundamentals of modern business.
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