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A coherent argument was never made. I was really looking forward the reading the argument for having most or all of my investment assets in bonds. After reading this book I was disappointed. Since the authors claim to be experts in their field (financial advice), I have to assume that they have no basis for their argument. This book was more of a marketing piece than a helpful guide to building a bond portfolio.
As a recent investor I was interested in learning about bonds. As a beginner reading this book allowed me to understand about the variety of bonds available, why to invest in a particular bond and how to best purchase them.
Whatever you want to know about Bonds and then some is in this book. If you are going to invest in the Bond market whether through funds or indiviudal Bonds you need to read this book.
Richelson manages money for the rich, but gives us a strategy of getting into bonds. See investinginbonds.com- a great nonprofit site listing the current market in bonds. I thought bonds would be a way to diminsh risk in my portfolio. There are serious pitfalls out there. Richelsons did a tremendous job of demystifying an important part of portfolio that is deliberately ignored by brokers. I think richelson is very conservative. The book lists great sites for investing in bonds and making sure that you are buying at a competative prices.
He does give strategies during high inflation or deflationary situations. The book makes a case for an all bond portfolio. (I like using Vangard brokerage- you can see the various bond issues that are being offered) The main weakness of the book is how to divide your portfolio into corporate bonds, munis, TIPS, CD's etc. He leads you to the safe bonds. The average stock broker knows nothing about bonds and will likely give us bad advice. This book has alot experience behind it. this is a must read.
Today's markets reinforce their position, but the book is worthwhile at any time, under any market conditions. If you expect to earn most of your retirement funds from your work rather than from investing in the stock market, Bonds--The Unbeaten Path to Secure Investment Growth, is for you. Hildy and Stan Richelson have told clients for years that they will earn more from a portfolio of bonds rated A or higher than from equities. It is totally readable, with clear explanations of how bond markets operate, concise descriptions of different bonds and the relative merits of each bond for your objectives. Read it cover-to-cover, then keep it handy as a reference on every bond you are likely to encounter--or for those moments when you just can't remember how TIPS adjust for inflation.
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