, is that I am already following the process he recommends for investing.Chapter 10 talks about the money management technique of Three Pockets. This involves having a savings pocket, an investing pocket, and a trading pocket. There are many books about trading, and many books about investing, but this book covers, and recommends both.
McCarthy, who was the former president of Charles Schwab & Co., does a fantastic job of describing risks and diversification. He includes many real life finance related experiences, which help the reader get a better understanding about various investment topics. The book is especially useful for new investors, as it is very easy to understand and covers all the basics.
Even more advanced investors should enjoy the book, especially those that haven't generated returns as good as the S&P 500 over the last couple years. Understanding the various types of diversification covered in the book is essential.
I highly recommend The Safe Investor: How to Make Your Money Grow in a Volatile Global Economy
for those that want to become a better investor.
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