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1、BOOKREVIEWRule#1TheSimpleStrategyforSuccessfulInvestinginOnly15MinutesaWeek!ByPhilTownPublishedbyRandomHouse,Inc.,2006Pages:320CompiledbyYSLai,MalaysiaContentI.AboutTheAuthorII.MainIdeasoftheBookIII.Feedback(Positive)IV.Feedback(Negative)PartIAboutTheAut
2、horOriginallyarebellious,whitewaterriverguide,TownbecameasuccessfulinvestorandpublicspeakerafterbeingmentoredbyafinanciallyastuteclientwhohehadrescuedfromaparticularlydangerousrundowntheColoradoRiver.Withinfiveyearsheturnedhisfirst$1,000ofborrowedmoneyin
3、to$1,000,000.PartIIMainIdeasoftheBookWhatisTheRule?“Thereareonlytworulesofinvesting:Rule#1:Don’tlosemoney[...]andRule#2:Don’tforgetRule#1.”Townwrites:“MostAmericansaretrappedinmutualfundsthat,atbest,ridethewavesofthemarket.”Hebelievesthathismethodcanhelp
4、investorsbreakfreefromthesecyclesThe4M’sTown’sfirstpriorityinRule#1istohelpnewinvestorsfindexcellentcompanies—companiesthatwebelieveinandthathaveaproventrackrecordofproducingstronggrowthandinvestmentreturns.Heteachesa©AYSLaiCollection,17January2012Page1o
5、f9BOOKREVIEWRule#1TheSimpleStrategyforSuccessfulInvestinginOnly15MinutesaWeek!ByPhilTownPublishedbyRandomHouse,Inc.,2006Pages:320CompiledbyYSLai,Malaysiaresearchmethodhecallsthe“4M’s”whichuses4teststodeterminewhetheracompanyisingoodfinancialconditionandw
6、illproducestronglong-termgrowth.Meaning:Findingacompanythataninvestorunderstandsandbelievesinisessential.Doestheinvestorunderstandthebusiness?Ifnot,howcouldhereasonablyassumeheisnotbeingdupedbymanagement?AsPeterLynchadmonishes,“Buywhatyouknow.”Onemusthav
7、eabasicunderstandingofacompany’sindustryandbusinessbeforeheshouldbuyit.Moat:Companieswithstrongcompetitiveadvantagesachievethemostpredictablereturns.Ifcompetitionissofiercethatacompanyisstrugglingtokeepahead,thenaninvestorcouldnotreasonablytrustlong-term
8、growthestimates.Town’smethodteacheshowtorecognizewhatWarrenBuffettcallsacompany’s“moat”andusefinancialstatisticssuchasReturnonCapital,EarningsgrowthandRevenueGrowthtobuildevidenceofastrongcompetitiveadvantage.MarginofSafet
