9,99 €
Mehr erfahren.
- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of Phil Town's book: "Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week".
This complete summary of the ideas from Phil Town's book "Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week" shares the simple rule that Phil Town used to transform his $1,000 loan into a $1 million investment portfolio: don't lose money. In his book, the author explains how good financiers operate and how to determine the true value of a business. By reading his advice you will have a checklist that you can follow when making an investment to ensure long-lasting success and impressive profits.
Added-value of this summary:
• Save time
• Understand the key concepts
• Increase your business knowledge
To learn more, read "Rule #1" and discover the secret to making a profit on every investment.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 40
Veröffentlichungsjahr: 2014
Ähnliche
Book Presentation:Rule #1by Phil Town
Book Abstract
About the Author
Important Note About This Ebook
Summary ofRule #1(Phil Town)
1. Find a “wonderful” business
2. Determine what that business is truly worth
3. Buy it at 50-percent off
4. Repeat until rich
Book Presentation:Rule #1by Phil Town
Book Abstract
MAIN IDEA
Rule #1 of investing, as ascribed to Warren Buffett, is: Don’t lose money. To put that rule in more practical terms:
“Some things don’t change. Rule #1 is one of those things. It’s been the basis of excellent investing for the last hundred years and it will be the basis of excellent investing a hundred years from now. A Rule #1 investor looks at stocks as businesses that have a determinable value, and then waits patiently for market fluctuations to bring her that business at a great price.”
– Phil Town
“It is extraordinary to me that the idea of buying dollar bills for 50 cents takes immediately with people or it doesn’t take at all. It’s like an inoculation. If it doesn’t grab a person right away, I find that you can talk to him for years and show him records and it doesn’t make any difference. They just don’t seem to be able to grasp the concept, simple as it is.”
– Warren Buffett, CEO, Berkshire Hathaway
About the Author
PHIL TOWN is a self-made millionaire and public speaker. He is an active participant in America’s largest touring success seminars titled: “Get Motivated”. Mr. Town served in Vietnam as a Green Beret for the U.S. Army, and on his return to the United States started working as a river guide in California, Utah, and Idaho. He finished college at his fourth try and then went into investing for a living. He is noted for having borrowed $1,000 to start investing and ending up with a $1 million investment portfolio within five years. Mr. Town now speaks to more than 500,000 people each year sharing investment advice.
The Web site for this book is atwww.ruleoneinvestor.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary ofRule #1(Phil Town)
1. Find a “wonderful” business
A wonderful business will be one that has four characteristics:
Meaning – you understand and value what it doesMoat – it has financial strength and predictabilityManagement – a great management team is thereMargin of safety – it is available at a great priceIn essence, what you try and do is identify a business you’d like to own completely because you relate to it rather than just looking for a stock which will make you money.
The markets are full of opportunities to buy stock in all kinds of companies. To make Rule #1 work for you, however, you need to narrow the field a little. You need to run the entire menu of choices through the selection filter of four key questions before you decide whether or not to buy. In selecting some wonderful companies to invest in, keep in mind the 10-10 Rule: “Don’t invest in any business for ten minutes unless you would be more than happy to keep your investment for ten years or longer.”
The four filtering questions are the following.
1. Does this business have meaning to me?
Always remind yourself you’re buying an equity stake in a going concern and not just a stock to speculate on. You want to be proud of what you own and what you put your money into rather than being in it just for the anticipated gain. Therefore, what makes a wonderful company is personal. A great business for someone else will not necessarily be a great business for you to invest in. You want to invest in businesses which are aligned with your own values and your interests.
To decide whether a specific company has meaning to you, consider two follow-up questions:
Would you choose to own the whole business if you had the funds available? In other words, do you admire what the company has achieved and what it will be working to accomplish in the future? Obviously, this will involve some judgement calls. Some people have no problems investing in companies which exploit child labor in third-world countries. Others wouldn’t dream of being a party to that kind of approach to business. The starting point for identifying a genuinely wonderful business is to look for a company you admire first and foremost.Do you understand the company’s business model well enough to own all of it?
