by Daniel C. Goldie, CFA, CFP®, and Gordon S. Murray
Reviewed by Jon Ford, CFP®
Jon Ford, CFP®, of CF Financial Planning Solutions, Inc. in Mesa, Arizona, writes a regular Financial Fundamentals column for the Cedar Falls Times in Iowa.
Just in time for the holidays, Goldie and Murray's, The Investment Answer is a gift that will put investment control into the hands of readers. The two authors come from very different sides of the financial services industry, but somehow came to the same conclusion about what it takes to have The Investment Answer. Read the book to see how this blend of Wall Street experience and independent advisory service meld into a paperback you'll want everyone to read.
The book has eight chapters, each with the intent of helping us make personal judgments related to five decisions each investor must consider: (1) the do-it-yourself decision, (2) the asset allocation decision, (3) the diversification decision, (4) the active versus passive decision, and (5) the rebalancing decision.
This is not a book primarily for our members: it is a book for everyone else we know. It is clear and amazingly complete for its 85 pages. Even with its apparent brevity, the book is a systematic collection of clarity. You'll want your children, students, friends and others for whom you care to have this book. Give it as a gift for the holidays, and know that this deceptively easy-to-read book offers a comprehensive and concise view on how to make important investment decisions about the future.
Don't be fooled. The Investment Answer does not imply that investors can and should do it themselves. Instead, it presents what readers stand to gain or lose as they make the choice. Of course, FPA members like me hope that nonmember readers decide to hire me, because The Investment Answer describes investment activities that I do especially well.
Could two people from such disparate backgrounds have given us a more valuable book? I don't think so. Buy the book yourself on Amazon or from the publisher, read it savoring the simplicity and wisdom, and give it to people you know who want The Investment Answer. If they decide to hire you to help, you'll know you've got a client and an ally who actually knows you're worth your fee. Have a great holiday season.
Dan Goldie Financial Services, LLC (2010)