This book is basically a re-do of Phil Town’s Rule #1, to encourage folks to pick up some bargains during 2008 down turn. It came with some extra bonus materials that I picked up as follows:<\/p>\n
1. Use of the payback time (hence the book name) to gauge the soundness of the investment. A payback time of 10 years, based on the earning generated, would be good for a public company. It’s normally smaller for a private company due to lack of liquidity. This is a good concept.<\/p>\n
2. Use of pre-tax money such as IRA, 529 and etc., called “Burkie,” were discussed. Nothing earth shaking here. He recommends paying taxes and direct one’s own “stockpiling” instead of paying the fund manager to do it for you.<\/p>\n
3. Refresh of the stock value assessment technique was welcomed. I particularly like the way he appraised the value of Burlington Northern Railroad and explain why Warren Buffet liked this particular stock. This was good.<\/p>\n
The audiobook was vocalized by the author himself, who came across as casual and sincere – well done.<\/p>\n