I'm starting to think about restructuring my portfolio from primarily growth-oriented to more of a preservation/income stance. I'm not planning any immediate changes -- still got some time until retirement. But I've got to start learning now if I ever expect to make intelligent decisions.Has anybody read the book "The Only Guide to a Winning Bond Strategy You'll Ever Need" by Larry Swedroe and Joseph Hempen? I seriously doubt its the only guide I'll ever need, but it got a recommendation from the personal finance writer on my local paper today. And there are a few positive reviews on Amazon. It sounds like it might be a place to start.Any recommendations (for or against) from the members of this board?Thanks!-- Bob
I just bought it for the same purpose. I am finding it highly readable, clearly written, and it even has a sense of humor. Excellent book.
Bob,Why don't you start with our FAQs (they don't cost anything).Here's a link to part 1http://boards.fool.com/Message.asp?mid=24863947Part 2 is about a week back in the posts, and part 3 was yesterday. Part 4, on funds, should be done soon (possibly today).If you are serious about a "preservation/income stance," you don't need a "winning" bond strategy. If you want to learn how to trade or do bond picking in the low investment grade corporate or junk end, there is a lot to learn. But for preservation, trying to stay above inflation (I'm aiming for 2-3% above inflation, with little risk to principal), you basically need to know what the options are, which are covered in the FAQs, and enough about them to decide which to use at any given time, at least making "best guess."
Lokicious, your points are valid. I don't like the title of the book, either. But the contents have been extremely helpful to me in understanding the bond market. And I like having the information in a book, for when I don't feel like sitting at my computer and staring at a screeen. Maybe you, too, can write a book: )
The book is clear and concise. An excellent resouce for understanding all types of bonds. Swedroe is straightforward and takes the "keep it simple approach". I highly recommend the book.MKT
Thanks for the opinions.I am (and have been) following Loki's advice of reading the FAQs and reviewing old messages on the board. I haven't been to a book store yet, but I'll check it out when I'm there.Thanks again.-- Bob
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