Doroghazi The Physician's Guide to Investing

A Practical Approach to Building Wealth
2. Auflage 2009
ISBN: 978-1-60761-134-9
Verlag: Humana Press
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 426 Seiten

In comments that were unfortunately prescient, Dr. Doroghazi said in the first edition 'the author feels we are currently experiencing a real estate bubble.' And in anticipation of the credit crisis, he said 'banks are far too lenient in their lending practices...the problem is that bankers are often not lending their own money...considering that a significant percentages of mortgages are sold to Fannie Mae (FNM) and Freddie Mac (FRE), the problem is now actually everyone's.' This new and expanded edition provides commonsense advice that all investors, physicians and non-physicians will find profitable in these difficult times. Learn about the power of thrift, the magnificence of compound interest, the malevolence of debt and the perniciousness of fees. See how to pay off the mortgage by age 45, fund your children's education and retire at a reasonable age rather than continue to work because you must.

Autoren/Hrsg.

Doroghazi, Robert

Inhaltsverzeichnis

1;The Physician’s Guide to Investing;2
1.1;Dedication;5
1.2;Foreword;7
1.3;Introduction;8
1.4;Acknowledgments;10
1.5;Contents;11
2;The Problem: Lack of Financial Instruction;16
2.1;References;21
3;Goals for Your Financial Return;22
3.1;Your Minimum Investment Goal;22
3.2;A Reasonable Investment Goal;25
3.3;An Unreasonable Investment Goal;26
3.4;Reference;27
4;The Magnificence of Compound Interest;28
5;Part 2: Avoid Being Diverted from Your Financial Goals;34
6;Arrogance, Ego, Greed and Envy;35
6.1;References;43
7;The Mark and the Doctor Discount;44
7.1;Accept The Fact;44
7.2;Seek Help From A Pro;46
8;It’s Not Much, I Can Afford to Lose It: The Concept of Risk;50
8.1;References;55
9;Part 3: Principles for Achieving Your Financial Goals;56
10;Define Specific Goals;57
11;Thrift;60
11.1;Thrift is the Most Crucial Process in the Accumulation of Wealth.;60
11.2;This Is Too Expensive, I Cannot Afford This;62
11.3;I Married a Gold Mine. My Spouse is Thrifty.;64
11.4;Turn Out The Lights;68
11.5;Reference;71
12;Invest in What You Know;72
12.1;Reference;80
13;How to Identify Real Opportunities;81
13.1;How Often Do Real Opportunities Arise?;81
13.2;How To Recognize Real Opportunities;83
13.3;Reference;88
14;Make Your Own Investment Decisions;89
14.1;References;95
15;Documents Required for Financial Security;96
15.1;Budget;96
15.2;Record Keeping;98
15.3;Will;99
15.4;Personal Financial Statement;99
15.5;Reference;105
16;The Importance of Relationships: Goodwill, Friendship and Reciprocity;106
17;Uncle George’s Rule, or Why Cash is King: The Concept of Liquidity;110
17.1;References;115
18;Part 4: Attaining Specific Goals;116
19;Paying Daily Bills;117
20;Your Home;120
20.1; Comments from the First Edition;120
20.2;Control Ego;121
20.3;Live Close to Work;125
20.4;Dealing With Real Estate Agents;126
20.5;The Mortgage;127
20.6;The Early Payoff of A Home Mortgage Can Be the Equivalent of An Entire Lifetime of Successful Investing;130
20.7;Other Important Issues;131
20.8;References;135
21;Funding Your Children’s Education;136
21.1;Financial Aid;137
21.2;specific tax-advantaged options to save for your children’s education;140
21.3;Series EE/E Or Series I U.S. Savings Bonds;140
21.4;Uniform Gift To Minors (UGMA)/Uniform Transfer To Minors (UTMA);141
21.5;Coverdell Educational Savings Account;142
21.6;Roth Ira;142
21.7;Student Loan Interest Deduction;143
21.8;Repaying Student Loans;143
21.9;Student Loan Forgiveness;143
21.10;Tax Deduction;144
21.11;Hope Scholarship (Tax Credit) And Lifetime Learning Credit;144
21.12;Section 529 Plans;145
21.13;College Savings Plans;145
21.14;Advantages of State-Sponsored 529 Plans;145
21.15;My Reservations Regarding 529 Plans;146
21.16;Prepaid Tuition Plans;148
21.17;Pay From Your Own Funds;149
21.18;Reference;150
22;Insurance;151
22.1;Disability Insurance;152
22.2;Automobile Insurance;154
22.3;Homeowner’s Insurance;155
22.4;Life Insurance;156
22.5;Long-Term Care Insurance (LTCI);161
22.6;Extended Warranty;163
22.7;Medical Insurance;164
22.8;Umbrella Policy;165
23;Funding Retirement;167
23.1; How Secure Is Social Security?;167
23.2;Anticipated Age of Retirement;169
23.3;Have All Major Obligations Funded;171
23.4;How Much Money Is Required to Retire And Live Comfortably?;172
23.5;Specific Vehicles for Retirement Savings;175
23.6;Tax-Favored Retirement Accounts;178
23.7;Individual Retirement Accounts (IRA), 401 (k), 404(b), 457 PLAN, Defined Benefit Plan, Defined Contribution Plan, Profit Sharing Plan, Money Purchase Plan, and Keough Plan;179
23.8;Roth IRAs;180
23.9;Annuities;181
23.10;Medical Bills;183
23.11;Health Savings Accounts (HSAs);184
23.12;References;185
24;Part 5: Pitfalls in the Quest for Your Financial Goals;186
25;Who Can You Trust? How to Spot a Con Man;187
25.1; Who Can You Trust?;187
25.2;How to Spot A Con Man;191
25.3;Reference;194
26;The Malevolence of Debt;195
26.1;General Guidelines for Borrowing;196
26.2;Borrow Only for Your Education and Your Home the Less Debt, the Better;196
26.3;The Problems With Leverage;200
26.4;The Early Repayment of Debt;202
26.5;Credit Cards;204
26.6;Reference;205
27;The Perniciousness of Fees;206
27.1;Mutual Funds;207
27.2;There is Never a Reason to Buy a Mutual Fund with a Load or Extra Fee of Any Kind;208
27.3;Stockbrokers;211
27.4;Other Fees;213
27.5;References;217
28;Divorce: Beware of Gold-Diggers;219
28.1;Get The Best Lawyer Available;223
29;Tips: Real Opportunities or Useless Information;225
30;Areas Where Caution is Essential or that Should be Completely Avoided;228
31;Yes or No;240
32;Dealing with Bankers;243
32.1;The Four ‘‘Cs’’;248
33;Part 6: Investing in Specific Assets ;251
34;Asset Allocation, Diversification and Beating the Market;252
34.1;The Importance of Diversification: Why You Should Not Try to Beat The Market;253
34.2;The Myth of Diversification;261
34.3;Beating the Market;262
34.4;Reference;265
35;When to Buy;266
35.1;Technical Analysis;270
35.2;References;272
36;When to Sell;273
36.1;You Will Never Go Broke Taking a Profit;275
36.2;References;283
37;Stocks, Bonds and Mutual Funds;284
37.1; Stocks and the Stock Market;284
37.2;Bonds;291
37.3;Rising Interest Rates Are Bad for Bonds Falling Interest Rates Are Good for Bonds;292
37.4;Mutual Funds and Exchange Traded Funds (ETFs);294
37.5;References;299
38;Real Estate Other than Your Home;300
38.1; General Points;300
38.2;Owning A Property Outright;306
38.3;Real Estate Investment Trusts (REITs);313
38.4;References;315
39;The Precious Metals and Commodities;316
39.1;Gold and The Precious Metals;316
39.2;Commodities;321
39.3;References;324
40;Art and Collectibles;325
40.1; Collectibles;325
40.2;Art;332
40.3;Do not Buy Art at a Charity Auction;335
40.4;Reference;336
41;Other Types of Investments;337
41.1; Selling Short;337
41.2;The Concept of Hedging and Hedge Funds;343
41.3;Venture Capital;345
41.4;Derivatives;346
41.5;Futures;346
41.6;Options;348
41.7;Stops;349
41.8;Limit Order;350
41.9;Variants of Common Stock;351
41.10;REFERENCES;353
42;Part 7: More Tips for Realizing Your Financial Goals;354
43;Obtaining Investment Information;355
43.1;Sources Of Information That Are Not Helpful;359
43.2;Suggested Reading;361
44;On-Line Brokers and the Internet;362
44.1;Reference;368
45;Investment Strategies of the Pros;369
45.1;Warren Buffett;369
45.2;David Swensen;375
45.2.1;Non-core Asset Classes to Avoid;378
45.2.2;How the Mutual Fund Industry Fails America’s Investors;379
45.3;Final Recommendation;381
45.4;Peter Lynch;381
45.4.1;Never Invest in any Idea You Can’t Illustrate with a Crayon;382
45.5;Burton Malkiel;386
45.6;References;389
46;Some Miscellaneous Bits of Advice;391
46.1; A Physician is an Executive;391
46.2;Changing Practices;393
46.3;Buying a Boat;394
46.4;Black Swan Events;395
46.5;Vacations;395
46.6;Embezzlement;396
46.7;Marquis de Talleyrand;396
46.8;Investing in for-Profit Facilities;397
46.9;Gambling;398
46.10;Speaking for Pharmaceutical Companies and Reviewing Malpractice Cases;398
46.11;Cut Your Own Grass;399
46.12;References;400
47;The Importance of Charity;401
47.1;References;406
48;Index;407
49;About the Author;415