Investment Advice from the Pros

A few quotes from the book "The Best Investment Advice I Ever Received" compiled by Liz Claman.

"It is startling to know that a $23,000 investment at birth, invested at a 6 percent annual interest rate, would grow to $1,015,334.35 at age sixty-five. Time and compound interest are magic". From the foreword, by Paul O'Neill, former US Treasury Secretary

"Stay away from investments that you don't understand or that seem too good to be true. If an investment opportunity or a business has a strategy, a profit stream, or a financial structure that you can't figure out, or that doesn't seem sustainable, there is a very good chance you'll be disappointed over time". From Art Collins, Chairman and CEO, Medtronic, Inc.

"First, diversify your portfolio and minimize taxes and trading costs. Second, know your investment goals and choose your assets to achieve your goals. Third, invest regularly and avoid timing the market. Fourth, save as much as you can, and your investments will do better. Fifth, do not pick stocks unless you are following stocks regularly. Sixth, resist the temptation to sell stocks short". From John E. Core, Associate Professor of Accounting, Wharton School of Business

One can learn a lot from listening to the experts. Many years ago, I was a regular listener to the Bruce Williams radio show. I learned so many good lessons from that show that I still remember today. I don't even recall if he is still on the radio, but he has put out several books about business, money management and entrepreneurship. I also have learned a lot by reading magazines like Forbes and Kiplinger's. An international business class I had required all of us students to subscribe to the Wall Street Journal. In this day and age where it is hard to find a decent newspaper, the WSJ still is the ultimate source for Wall Street information. I guess I always had somewhat of an interest in business ever since my Dad talked about working as a stockbroker for Merrill Lynch in the 1960s. Back then, the company required all brokers to spend some time training on Wall Street. My interest in working in the television industry always surpassed my interest in business until the last couple of years.