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Payback Time

Making Big Money Is the Best Revenge!
By: Phil Town
Narrated by: Marc Cashman
Length: 9 hrs and 2 mins
4.5 out of 5 stars (21 ratings)

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Summary

Phil Town's first book, the number-one New York Times best seller Rule #1, was a guide to stock trading for people who believe they lack the knowledge to trade. But because many people arent ready to go from mutual funds directly into trading without understanding investing for the long term, he created Payback Time.

Too often, people see long-term investing as mutual-fund contributing - otherwise known as long-term hoping. But the sad truth is that mutual fund investors are, to a stunning degree, pinning their hopes on an institution that is hopeless. It turns out that only 4% of fund managers consistently beat 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.

But its worse than that. The net effect of hitching your wagon to mutual funds is that over a lifetime theyll fritter away as much 60% of your nest egg in fees. Once you understand how funds engineer this, you'll rush to invest on your own.

Payback Time's risk-free approach is called stockpiling and it's how billionaires get rich in bad markets. Its 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.

©2010 Phil Town (P)2010 Random House

Critic reviews

“An incredible book that will teach you how to achieve financial independence faster than you ever thought possible.” (Brian Tracy, President, Brian Tracy International)

What members say

Average customer ratings

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  • Overall
    4 out of 5 stars
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    4 out of 5 stars

Much to learn....

Much to learn but this book makes the dry subjects of reading annual reports, big five numbers and calculations interesting and digestible.

This is perfect for the commute to work however I've also bought a physical copy to drill down on the maths.

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  • eric brinsfield
  • 18-12-17

this book has helped my investment

this book has helped my investment strategy so far in real investments. I recommend this book to anyone starting their investing journey.

2 of 2 people found this review helpful

  • Overall
    4 out of 5 stars
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  • Pat
  • 26-04-11

You will need the book!

This book has a lot of good content regarding calculations and formulas. You would want the book to help out.

One big problem with this audio book is the narrator. So dry. Sounds like you're in a boring lecture. Makes you not want to listen to this book. Phil Town, of course, does a better job narrating his own material.

4 of 5 people found this review helpful

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  • Jade Van Den Einde
  • 22-08-18

Life changing advice from a professional.

This book builds from the first book and adds a new technique to profit from down markets. Great!

1 of 1 people found this review helpful

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  • Henry H.
  • 18-05-18

Narrator is fine at 2x

Content is great, although a bit dated. The narrator is fine if you run at 1.5x or 2x speed

1 of 1 people found this review helpful

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  • S. Brita
  • 11-09-15

Not very compelling

And I am a fan of Phil. And I didn't find much in this book that was a new except the idea of buying as a stock goes down which isn't that novel of an idea overall I didn't take much from this book some of the ideas towards the end about not using a company
Match in a 401(k) I thought was just crazy

1 of 1 people found this review helpful

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  • lev
  • 17-02-11

must have

if you like rule #1, then you must buy this book
the idea stockpile makes you feel much better when in down market because you can build your portfolio in a much lower price

3 of 4 people found this review helpful

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  • Kelly
  • 19-03-17

Outdated reference information to websites

Outdated web sites... overall great information. Save yourself the time and go to the free website

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  • Jamin Triz
  • 20-10-15

Great book

Lots of info in this step by step guide to a investing strategy that sounds reasonable. Narrater is horrible he sound like the weather warning guy very monotone.

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  • Dan Lorenz
  • 09-08-15

Amazing

I will become a RULER! Phil is a master teacher and I cannot wait for his workshop!

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  • BRIAN
  • 07-08-15

very long advertisement

The we're too many references to his website. things that could have been covered in the book which makes things frustrating because it makes me wonder why I got the book in the first place. the information provided was of very little help. many of the same concepts are explained better in other books and with out the " fluff". As an audio book especially I would not recommend this book. the concepts that sounded like they may be useful were lost to me as there was a lot of numbers and math being drawn from several sources and there was no way I can keep it all in my head at one time. I have not read it but it sounds like his first book has more detail and may be a bit more useful to readers.