The Rules For Growing Rich
"David Lereah has succeeded in the truly formidable task of translating the important but frequently misunderstood fundamentals affecting the economy, including monetary policy, into a practical guide for investors concerned with both the new and old economies. It should prove to be an invaluable ready reference for any investor intent on making money in today's complex new information economy." - Dewey Daane, former governor of the Federal Reserve Board of Governors.
A truly appropriate summation for Dr. Lereah's 168 grow-rich rules covering almost any variety of economic conditions that the investor may face:
· 63 rules for investing in stocks
But there's more to it than just learning the rules!
Dr. David Lereah is president and chief executive officer of Lender Technologies Corporation, a wholly owned subsidiary of Mortgage Bankers Association, and prior to that was MBA's chief economist. His economics background comes through in the wealth of information sources on performance of the economy, and more importantly, how the investor can best use this information in every phase of the business cycle.
The Rules for Growing Rich contains three segments.
Part 1, The Road to Growing Rich, tells the new millenium investor about different types of investments and instructs him/her how to go about assessing his/her own investment program. It describes what information and economic indicators to look for; where to find them, and when they are released. Web sites are identified to help the investor gather and monitor in a simple and nontime-consuming manner useful information that is readily available on the Internet. This section concludes with a chapter giving 10 principles for successfully investing during both good times and bad.
Part 2 is The Tools for Growing Rich. This is where the good stuff is found along with all those rules that are helpfully backed up with the author's rationale for each one of them. The Stock Market Primer, well illustrated with tables, is an education in finance and investing on its own that the author uses as a lead in to the Top Ten Grow-Rich Rules for Stocks.
Part 3 covers the new information economy and it is a slim two chapters because the rules are yet to be written; however, what this part lacks in volume it more that makes up for in substance. The author sees today's technological changes as truly revolutionary with long-term implications for investments as well as for the economy itself. He gives investors seven practical, step-by-step recommendations to follow when investing in this new information economy. Just as in earlier chapters, each of these seven steps contains checklists, data to collect, and even his suggested PC spreadsheet layout for monitoring essential indicators.
Dr. Lereah concludes: "Although there are no guarantees and certainly no set formulas for successful investing, by following closely the above approach to investing, and by using the investment rules presented in this book, you will place yourself firmly on the road to growing rich."
A useful handbook indeed for the investor prepared to systematically work at growing rich.