The Only Guide To Alternative Investments Youll Ever Need
The Only Guide to Alternative Investments Youll Ever Need
Bloomberg Press
$29.95, 288 pages
Irony exists in the title and the content of this book. Had an investor diversified his portfolio in early 2008 according to the authors six good alternative investments, that investor would have suffered losses in all six categories, and in some cases, extraordinary losses. Having said this, the premise of the book is a good one, despite 2008 investors should diversify outside the familiar categories of equities Treasury bonds other high-quality, investment-grade debt and bank instruments such as certificates of deposit.
Swedroe and Kizer are financial advisors and financial writers who thoroughly researched and analyzed 20 alternative investment possibilities for this book, the third in Swedroes The Only Guide to series of investment books. Divided into four well-organized parts, the book is a comprehensive guide to learning how to carefully manage and hedge your portfolio. Brimming with candor, clarifying information, and sound advice for investors, the book sheds light on the reality of investing in good, not so good, and potentially dangerous financial products.
Book Review: The Only Guide To Alternative Investments Youll Ever Need
The name of this new book by Larry Swedroe and Jared Kizer is long: The Only Guide to Alternative Investments Youll Ever Need. Its part of The Only Guide to Youll Ever Need trilogy. The other books in the same series have equally long names: The Only Guide to a Winning Investment Strategy Youll Ever Need by Larry Swedroe and The Only Guide to a Winning Bond Strategy Youll Ever Need by Larry Swedroe and Joseph Hempen.
The lead author Larry Swedroe is a principal of Buckingham Asset Management, an investment advisory firm in St. Louis, MO. He frequently posts on the Bogleheads forum, of which Im the #6 registered user.
This book covers alternative investments, which are defined as investments outside of stocks, investment-grade bonds, and bank CDs. It puts 20 investments into four buckets: the good the flawed the bad and the ugly . According to the authors, the good alternative investments are:
- real estate
- fixed annuities
- stable-value funds
Take look at the and see where the rest belong. Im happy to see that I own five of the six good alternative investments and none of the flawed, bad, or ugly ones.
Because it deals with alternative investments, this book is not for beginner investors, who should first focus on the core asset classes of stocks and bonds. It assumes a level of knowledge best obtained from reading The Intelligent Asset Allocator by William Bernstein. For beginner investors, I have several other books on my Recommended Reading List.
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Any investor who is considering or just curious about investment opportunities outside the traditional world of stocks, bonds, and bank certificates of deposit would be well-advised to read this book.
