The Lazy Investor

by Mr. Cheap

I read and enjoyed “Stop Working” by Derek Foster some time ago, and was excited when I heard he had a new book (“The Lazy Investor”) coming out. After visiting Mike on Friday night, I drank all his beer and took the copy that he’d won (when you let Mr. Cheap come to your house that’s par for the course).

Lazy Investor main points

My take away points from “Stop Working” were

  1. Dividends are a more reliable, consistent way to make money off of stocks rather then trying to time buying and selling.
  2. Blue chip companies with long histories of uninterrupted, increasing dividend payments can replace income.
  3. The tax efficiencies of Canadian dividends make them very attractive while building and living off of your investment income.

STOP WORKING

What the book was about

Although it was quick, fun read, I definitely enjoyed his first book more. This one read like a series of well thought-out blog posts (perhaps a “best of” collection) then a book with a consistent theme.

It covers:

  • How to setup DRIPs.
  • General ideas about investing in stocks.
  • Specific ideas about investing in stocks (including a short list of Canadian companies to consider buying).
  • Investing in American companies.
  • Teaching your kids about investing.
  • Whether you should pay for a child’s university education.

All interesting stuff, but I had expected a bit more of a unifying idea behind the book which wasn’t really there (it was broken into 2 sections, basically: how to invest and how to teach your kids how to invest).This book, like his first, is targeted to the beginner investor, and perhaps *I’m* different rather than this book being weaker than the first (against my best efforts I may have learned a couple things over the last few months). It’s a easy read and it may (bundled with “Stop Working”) be a good text for someone trying to figure out the basics of investing in the stock market (or looking for a straightforward approach to achieving an early retirement). Unfortunately I don’t think you’ll find many radical new ideas in it.

If you want to order this book – click on the Indigo banner below.

STOP WORKING

Questrade Democratic Pricing - 1 cent per share, $4.95 min / $9.95 max

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{ 16 comments… read them below or add one }

1 FourPillars

I just won another book from the Dividend Guy so I guess that means I’ll have to buy some more beer! :)

Mike

2 telly

Can I come over? I’ll bring the book I won from MDJ and some cheap American beer. ;)

3 FourPillars

Sounds good to me Telly – which book did you win?

Mike

4 telly

It was a while back (March?) – “Spend Smarter, Save Bigger”.

5 moneygardener

I have decided not to read ‘Lazy Investor’. The synopsis of this second book sounded too much like so many other series of books (ie Bach), recylcled ideas, and stuff you’ve heard before, reformatted and spit back at you in a thin book.

6 FourPillars

telly – I actually bought that book. I thought it was an excellent personal finance book, what did you think?

I should probably do a review on it.

MG – you’re probably right – might be worth a borrow from the library? Maybe I’ll do a give-away (if Mr. Cheap ever returns it :))

Mike

7 Mr. Cheap

MG – I’d say you’ve hit the nail on the head.

Mike – I’ll bring it back next time I’m over (or if you guys want to go out for brunch or something again sometime).

Telly – Sounds good! Let us know next time you’re in T.O. and we’ll do a “beer and fiance book swap” night (are we party animals or what? ;-) )

8 FourPillars

Mr. C – I’m just kidding – there is no rush to give it back (you just borrowed it after all!).

Did you say “fiance swap”? :)

Mike

9 Mr. Cheap

lol… best. typo. ever!

As a single guy I think I’d be getting the best deal…

10 moneygardener

I’m in!

11 moneygardener

What a minute…I don’t have a fianc to swap….does a pregnant wife work?

12 FourPillars

MG – close enough!

13 Nobleea

from personal finance blog to swingers site in 4 comments.
hehehe

14 FourPillars

Nobleea – you sound interested. :)

Mike

15 telly

lol…best typo indeed!

Mike: I thought the book was rather good. I liked the concept of saving on big ticket items and I liked the “real” stories mixed in. There were a couple things I didn’t totally agree with but overall a good read. I actually sort of posted my own mini-review in MDJ’s comments field after reading the book.

http://www.milliondollarjourney.com/contest-winner-for-a-free-book-spend-smarter-save-bigger.htm#comments

16 FourPillars

That’s a pretty good review Telly.

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