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Payback Time: Making Big Money Is the Best Revenge! |  | Author: Phil Town
Publisher: Crown Business
Category: Book
List Price: $26.99
Buy New: $15.99
as of 9/7/2010 10:38 CDT details
You Save: $11.00 (41%)
New (38) Used (21) from $12.96
Seller: pbshopus
Rating:  40 reviews
Sales Rank: 20488
Media: Hardcover
Pages: 288
Number Of Items: 1
Shipping Weight (lbs): 1.2
Dimensions (in): 9.3 x 6.1 x 1.1
ISBN: 0307461866
Dewey Decimal Number: 332.6
EAN: 9780307461865
ASIN: 0307461866
Publication Date: March 2, 2010
Availability: Usually ships in 1-2 business days
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Product Description
My first book, Rule #1, was a guide to stock trading for people who believe they lack the knowledge to trade. It was deeply satisfying to see Rule #1 reach #1 on the New York Times bestseller list and sell hundreds of thousands of copies. I've since come to realize, though, that many people aren't ready to go from mutual funds directly into trading without understanding investing-for the long term.
I'm baffled by why so many people trust fund managers to grow their money given that the vast majority have proven that they can't beat the market. Indeed, only 4% have shown themselves capable of beating the S&P 500 index over the long term, which means that 96% of fund investors see a smaller return on their nest egg than a chimpanzee who simply buys stocks in the 500 biggest companies in America and watches what happens.
The risk-free approach I'm advocating here is called "stockpiling" and it's what we've learned from billionaires about how to get rich in bad markets. It's a set of rules for investing (not trading but investing) in the right businesses at the right time - rules that will ensure you make the big money. Most important, by following these rules, you'll be able to sleep at night, knowing the long-term value of your portfolio goes up in a down market.
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| Customer Reviews:
Showing reviews 1-5 of 40
 Little new information March 15, 2010
Roman Michael (KC, MO)
67 out of 73 found this review helpful
I've read Rule # 1 back when it first came out and I thought it was excellent. I'm about halfway done with Payback Time and so far 90% of the information is simply rehashed information from his first book. The one thing that appears to have changed is that MSN now apparently gives 10 year data for free, which was not available when Rule # 1 came out (back then you had to pay a third-party company to obtain 10-year data about a stock and MSN and Yahoo only offered 5-year data if I remember correctly). So if you haven't read either book and are wondering which one to pick up I would say go for the second one (Payback Time). If you've read Rule # 1, reading the second book certainly won't hurt for repetition sake, just don't expect any major new information. The concept of stockpiling is nothing revolutionary. Simply buy more shares when the price goes down. Wow. The one thing I did not like about Payback Time is how Phil is constantly directing the reader back to his website for every little piece of extra information. And he doesn't tell you what link on his site to click on for each piece of information so you end up randomly clicking on his site until you find what you're looking for (not to mention the fact that you have to register in order to use the site in the first place and it keeps on logging you out every few minutes for some reason).
Having said that, I still have to give credit to Phil for his clear writing style. He has a special ability to take complex information and making it understandable to the average person. I also like the fact that he gives his email address in the book and encourages readers to contact him with any questions. I like that type of service. I will update this review as soon as I'm done reading the book.
3/16/10: As a side note, I also have noticed, like others, that many of the raving reviews for this book sound fake (some almost sound like an infomercial) and are from users who have only reviewed a single item (i.e. this book).
4/1/10: In chapter 5, "Eight Baby Steps to Wealth", Phil walks you through a tool on MSN's website called "Deluxe (stock) Screener" (also known as "Supercharge your search"). It's supposed to be a free stock screener that lets you find companies that match Phil's criteria for great companies (saves you a ton of time). Unfortunately, this tool no longer exists (MSN retired it back in November of '09!). However, Phil recently posted an entry on his blog saying that you can find the exact same information on google's website. If you go to "Google Finance" look for Stock Screener. It's supposed to be just as good as MSN's Deluxe Screener. I will be playing around with this tool and will post an update soon.
5/26: Remember how I said that Phil gives out his email address in his book and encourages readers to ask him questions? Well, I sent him a question (regarding the use of Google Finance - see my post from 4/1) in late March all I got was an automated reply saying that someone would get back to me and no one ever did. So much for that. So if you have any questions, I would call the number listed on Phil's website. They will answer your questions.
 Valuable Introduction to Buying Low and Selling High as an Individual Investor April 11, 2010
Professor Donald Mitchell (Thanks for Providing My Reviews over 97,000 Helpful Votes Globally)
11 out of 11 found this review helpful
"Both low and high,
Rich and poor together." -- Psalm 49:2 (NKJV)
If you read and liked Rule #1 and are using that method, you probably will be disappointed in Payback Time. If Rule #1 seemed appealing, but was beyond what you could apply on your own, you'll probably find Payback Time easier to use.
I once attended a major investing seminar conducted by one of the most famous motivational speakers in the world. He spent two hours on an exercise where we were supposed to learn to buy low and sell high. Most people were delighted with that lesson, even though we only learned the principle . . . not how to implement it. I was shocked to see how little it takes to please those who don't know much about stock investing. But I assume you are well beyond that level.
If you are fan of Rule #1 (as I am), let me cut to the chase: Payback Time primarily gives you a buy-low-and-hold version of Rule #1 along with an update concerning online resources available and a more complete Web site to help you perform the details. Of the two books, Rule #1 is for those who want to be very active investors. Payback Time is for those who want to do less work and pay less attention to the market day-to-day.
Lest you take that point lightly, let me mention that I once had a book contract to write a similar book. I returned the contract after a few months of struggling to explain in simple language with not too many words how to do some similar evaluations. I found it to be harder than it was worth doing. As a result, I admire Phil Town for sticking with his writing to produce a book that is clear, simple, and not too hard to implement.
Do I take exception to anything he had to say? Sure I do. Anyone would. But the advice is pretty sound.
I thought the best part of the book was in defining the sell discipline, something few investment books take seriously. I think he sets a pretty high target, one that may cause you to miss some well-timed selling opportunities.
The main problem with the method is that to have lots of opportunities you require stock market collapses occurring reasonably often. During a period such as the 1990s (especially on the NASDAQ), you might find it difficult to apply the method to stocks you understand well that are dramatically under priced. In today's environment, I suspect bargains by this method are few, for instance.
My main quibble with the book is that Mr. Town spends about 20 percent of the content explaining that mutual fund returns aren't very good, the expenses piled onto mutual funds cause your returns to be much lower, and sharing his view that you cannot count on Social Security. All of this material was worth about two or three pages, not fifty.
Do your homework!
Great add up to Rule #1 April 25, 2010
R. Teran (New York, NY USA)
4 out of 4 found this review helpful
I have my own results to prove what I learned from Phil's Book Rule One and Payback Time. I started a 100K portfolio in february 2009 when all the technical indicators on the S&P 500 where indicating me to get in. I picked 8 stocks that I screened according to his methods that meet the Big 5 numbers criteria , had meaning, moat and good management. Its been a little more than a year , i sold a few times and bought back. Currently my portfolio is up 161.5% in a little more than one year. I started using packback time as a screening tool now and picked a few Rule one stocks with Payback times of less than 7 years 1 month ago, since then I am up 11% compared to the Dow 3.26% . I am a believer in Phil's teaching. If you follow every step methodically and get your emotions out of you decision making I am sure you'll more than beat the market. I am doing it and expect to keep doing it. I knew very little about investing before reading Phil Town's . To me this are the best practical books about investing in stocks for the long term. Anyone that doesn't get the result I am getting is not following all the steps thoroughly.
Great job Phil.
I hope to to talk to you soon on your blog.
Website doesn't deliver on promises in the book June 18, 2010
P. R. Stabile (Schaumburg, IL USA)
2 out of 2 found this review helpful
I just finished this book. Unlike some reviewers here, I did note significant differences between Rule #1 and Payback Time --- Payback Time is more geared towards fundamentals and knowing the business you own; Rule #1 leaned ever so slightly in the direction of technical analysis.
With the discussion of Floors and Ceilings, though, we're still in the realm of doing some charting.
The problems I see are that Mr. Town is: a) hyping his website, but not realizing it does not deliver what he claims it will (e.g., where on the website is this "Investor Profile Questionnaire"? I certainly cannot find it ... ) ; b) a schill for his seminars and ancillary products --- Ok, I get it dude, you offer workshops, but do you really have to spend pages and pages selling me on the idea of going to them?
And besides, if you (Phil Town) are as rich as you claim to be, why set up these investment seminars in the first place? Just to "help" people? C'mon.
But really, the part that bugged me most was the description in the book of the wonderful associated website, and in reality the website just does not deliver on those promises.
On the plus side, the website does describe using Google Finance screens instead of the recently scaled back MSN screen. That alone merited an extra star ... otherwise I would only have rated this book "Fair" with two stars rather than three.
Pay Back Time Delivers July 19, 2010
nuskinsue
1 out of 1 found this review helpful
Phil Town delivers investing information in an interesting and easy to follow way. I truly enjoy reading his books. He's a great public speaker, too, and his books are written as though he were talking to you. His snippit stories mixed into the informative chapters break up the lessons, making it even more enjoyable. For the average person who knows little about how to invest wisely, this book, along with his other "Rule #1" book, is the way to become knowledgable. Read, then, go out and practice with a margin of safety.
Showing reviews 1-5 of 40
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