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Book review: 'The Safe Investor' by Timothy F McCarthy

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With all the help that is out there for people who are interested in investing most people still feel uncomfortable with the topic or are unsure about how to invest their money wisely. Out of the many books, magazines and television shows available on the topic it is rare to find advice that is easy to understand and follow.

In his book “The Safe Investor: How to Make Your Money Grow in a Volatile Global Economy” Timothy F McCarthy is out to dispel the image that people have about investing. In his own words “…we see members of our industry use language and give arcane explanations that are meant to show off their expertise, to humble their clients into thinking that they, ‘the experts’ are smarter than the average investor.” He comes across as truly caring whether or not the average Joe understands the topic at hand. He uses plain language and personal stories that help explain each of his seven lessons of successful investing and wraps up the chapters with a “lessons learned from” section.

He starts off by sharing the investing losses that his mother experienced after his father died and the lessons he learned: “there is no such thing as a no-risk investment, don’t put all your eggs in one basket and keep your emotions under control <and> be patient.”

The best financial advice he gives investors early on is to make sure their money lasts them if they live longer than anticipated. He stresses the point that once they start investing they should not be afraid to ask as many questions as needed and not to agree with anything they don’t understand.

This informative book is divided into four parts:

  • Part one – stories and lessons that investors around the world have learned to help them be better at their jobs.
  • Part two – applies these lessons to help investors become familiar with investing and how to manage their portfolios or at least understand what their advisor is talking about.
  • Part three – gives investors advice on how to find an advisor including how to evaluate them, what questions to ask and how to interpret the answers they get.
  • Part four – sums up the lessons learned and addresses common worries that investors may have.

“The Safe Investor” by Timothy F McCarthy is recommended for anyone looking to become better informed on the subject. He is the former president of Charles Schwab & Co and Nikko Asset Management and has spent the last 30 years giving investment advice and helping people better understand their portfolios. Even novices will be able to follow what he is saying and will hopefully become more confident about how to make their money work for them.

*A copy of this book was given for an honest review. The opinions expressed in this article are solely the author’s.

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