RESHAPING YOUR INVESTMENT STRATEGIES FOR THE 1980S
V. Jeanne Kaufman and Henry B. Zimmer.
Volume 11 Number 4.
Finally, two accountants have written an investment book to compete with those written by university professors, financial consultants, and doctors. Perhaps, thei| background accounts for a somewhat different approach than those taken in many other books. The swirling quagmire of tax legislation will quickly render obsolete most investment guides. However, this book is noteworthy because it continually emphasizes that one should remain flexible in one's investments. The best investment varies with the economy and with the times. Hence, most investment guides emphasizing a certain aspect of investing have an inherent weakness. This book tends to take a more general approach to investment technique, and therefore its lessons will be valuable for a longer term. Another improved aspect is the illustration of several typical investment strategies for people in different economic circumstances. Obviously, an employee should have a different investment policy from a career woman, and these might differ from an executive. The important point is that the book maintains a flexible investment posture and takes into account that different people have different investing styles and are willing to accept different degrees of risk and have a capacity to absorb different amounts of losses.
Zimmer and Kaufman cover the usual vehicles for investment including RRSPs, insurance, real estate, stocks and bonds, options, precious metals, and collectibles. They even discuss the usefulness of moving one's money out of Canada into other currencies and into other countries and discuss the general principles regarding tax havens.
The book is very readable and contains very little repetition. The authors make no attempt to make readers feel that they are going to be an expert in stocks or real estate just from reading this one book. What it does do is to make readers aware of the various aspects of an investment and guide them in the right direction in order to find current information and to be able to talk intelligently to a true professional who is working full time in a certain investment field.
This is a good, general introduction to all areas of investment and should be one of the first books to be read before one attempts to specialize or obtain more detailed knowledge about a specific investment. I would recommend it highly.
Allan Kogon, Georgetown, ON.
1971-1979 | 1980-1985 | 1986-1990 | 1991-1995
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