This book is very simple to read with concise, basic strategies for picking great long-term stocks. What I also like is Pat Dorsey's strategy is extremely similar to the Oracle of Omaha, Warren Buffett.
An immediate strategy that I picked up in the first few pages of the book was the need for long-term investing with a minimum amount of transactions:
One should buy stocks they intend to hold for a minimum of a year or more, since short-term taxes on capital gains is an extra 10% more, and that's not including the additional trading fees associated with selling and re-buying of the stock. Overtime, the additional expenses and transaction fees can significantly dent current and potential gains.
Yes, it is quite boring by doing so, but if you think about it....it makes a whole lot of sense!
I really believe this book is great for creating a solid foundation for beginners or as a refresher for experienced investors as well. Definite must-add to your collection!
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