Well, I had just finished writing a long review on The Little Book That Makes You Rich when Blogger decided to mess up and lost the entire post. I'll do a quick recap instead:
This book is a 7 out of 10 for a few reasons:
- It is quick: I finished in an hour and a half and experienced investors can just flip through to parts of the book they'd find interesting.
- It is formulaic: you can see how Louis Navallier invests and what he looks for in investment opportunities.
- However, I am skeptical of his free resource at getrichwithgrowth.com. You can't just rely on the numbers to find a good opportunity and as more people find out about his method it just causes diminishing returns. Take the resource (and results) with a grain of salt.
So what can we learn from a book like this (other than the title makes me gag)? Well, it's important to have a consistent approach to investing. Don't flipflop on your approach, much less the companies you invest in. Conviction is key; with that in mind, absentminded stubborness is dangerous.
A hint: the entire series of "The Little Book of..." books are excellent and I have read them all multiple times (check it out in our Book Reviews). However, the one I still like best is The Little Book of Value Investing.
Interestingly enough, my personal approach is a consistent mix and something I'd just characterize as Opportunistic Investing. But, unfortunately, I can't give away all my secrets...