Buy this book from:
Achieve lasting wealth
with low risk,
steady growth stocks
Lowell Miller
President, Miller/Howard Investments
This book details a simple and straightforward way to earn solid returns on your investments over the long term, with the lowest possible risk. It’s an approach that can get you off the hook of information addiction, free you from the need to constantly keep up with the latest developments and the opinions of a million pundits. In effect, you can invest in stocks without “playing the market.”
This strategy is not a trick, it doesn’t require that you learn a new language or play around with options or futures or anything exotic. You can do it yourself---though many investors may decide to work with a broker or investment manager.
One goal, in addition to seeing your capital grow, is to sleep well at night. Who wants high returns at the cost of a lifetime of worry and anxiety? Perhaps a few compulsive people would make that trade, but most of us would prefer to enjoy this brief sojourn on the blue planet with as little angst as possible. One of the ideas behind this approach is that the “slings and arrows of outrageous fortune” will bounce off your toughened skin, because you’ll understand the foundation of your investment, and you’ll understand that it is a true investment, not some speculative game cooked up by business school grads on Wall Street.
To be sure, your portfolio will go up and down---this can never be avoided if you hope to have reasonably good long-term gains---but the downs won't bother you because you’ll understand exactly why prices have declined, you’ll know when prices are due to rebound, and you’ll have extremely high confidence and a clear vision that prices will rise over the long term. You’ll have this high confidence, as well as a high comfort level---two requirements for long-term success---because the strategy is based on impeccable common sense.
INVESTORS, LISTEN UP
You will not succeed if you trade a lot. You can only win the investment game by actually being an investor. This is true for amateurs, and the record of mutual funds proves it is true for most professionals as well. You will not succeed if you pick ten different stocks for ten different reasons, or ten different stocks because ten different “advisors” or brokers say they are good ones. You will not be successful if you constantly dream of larger profits than the market can reasonably be expected to provide.You’ll only succeed by gluing your eyes firmly to the long-term future, and by making long-term commitments within the structure of a strategy that’s founded on reason and common sense, supported by historical evidence that the strategy has performed well in the past.
You’ll find that the investment technique outlined in this book cuts through the deluge of information constantly being shoveled on investors by the press and by financial firms advertising their wares. It’s both a systematic approach and a way of thinking and feeling which will stand you in good stead for the rest of your life. Hopefully, it will provide a kind of therapy for the kinds of investment foolishness---whether too conservative or too aggressive---that most of us experience. It doesn’t always fit into the neat categories that you read about every day or hear about on television, but it is at the heart of a true understanding of investment. Getting to know this investment strategy is going to teach you nearly everything you need to know about evaluating every other kind of investment---and about evaluating the armies of people who are trying to sell you, whether sincerely or cynically, a dream and a sparkling return.