The Gone Fishin' Portfolio: Get Wise, Get Wealthy...and Get on With Your Life (Agora Series)

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I just finished reading this book and thought it was pretty good overall. However, as an experienced investor, I know that there are no magic bullets in investing. The book shows performance of the portfolio over the past seven or so years. In those years, the S&P 500 (domestic stocks) performed rather poorly while gold, other commodities, real estate and foreign investments did exceedingly well. This portfolio stays invested at all times in all of these asset classes.

I took the liberty of backtesting the same portfolio for the ten years preceeding the 2000's, and the S&P 500 way outperformed this portfolio. This did not surprise me given the fact that we were in a full blown bull market. Those other asset classes underperformed, some badly.

I think that the Gone Fishin Portfolio will perform relatively well in more uncertain markets. However, I am not convinced that will happen when the domestic markets rally strongly.

My point here is that the oversimplification will lure rookie investors into a false sense of security.

I am sorry, but even if you are using a broadly diversified portfolio of mutual funds or ETF's, you must pay attention and understand the weakness of such a simplified approach. You will have to spend more time on your portfolio than 20 minutes a year.

Like so many business books, this book could be condensed into a single page. Here are some of the key bullet points:
* Save more money. i.e. stop drinking starbucks coffee everyday.
* Expect to be able to withdraw 4% of your assets annually after you retire i.e. you need $1 million to generate $40,000 a year in pre-tax income. Some people would say withdrawing 3% would be more conservative.
* Perform asset allocation across 10 Vanguard (index) funds (low cost)as follows: 15% VTSMX; 15% NAESX; 10% VEIEX; 10% VEURX; 10% VPACX; 10% VWEHX; 10% VFSTX; 10% VIPSX; 5% VGSIX; 5% VGPMX.
* This represents a 70% stock, 30% bond portfolio with heavy international slant
* Re-balance every 12-18 months
* Don't use brokers/investment advisors with their 1%+ annual fee
* Don't try to time the market

Good advice. Now how is the portfolio doing? From January 2, 2008 to August 9, 2009, it is down 23.25%. How is that doing relative to a 70% stock 30% bond portfolio (in the case of 70% VTSMX and 30% VIPSX), that would have returned -23.67%. You'd have to compare risk in the portfolio, but I suspect that you'd find that the "Going Fishin'" portfolio will deliver you a basic risk adjusted market return. Nothing fancy. We're not talking endowment fund returns.

[...] [...] [...] What readers should really care about is, if I took the [...] advice, how would I have done. And the answer is - same as any portfolio with similar risk and reasonable diversification. That's not a negative, it just does not live up to any hype.

I pre-ordered my copy and I'm so glad I did. As a long time reader of Alex Green's newsletters, I knew it would be a good read and I wasn't disappointed.

Finally, a Wall Street veteran lets us in on the truth of how most investment banks really operate: Stockbrokers are better salespeople than investment advisors.

Brokers trade for commissions, insurance agents sell some of the highest-cost products in the industry, and even planners will convert a substantial portion of *your* assets into *their* assets. I've worked in financial services for years and it's pretty scary to think a 23-year old kid without much more than a Series 7 license can make investment decisions for clients!

This book draws on ideas from the philosophies of the top investors of all time - Peter Lynch, John Templeton, and Warren Buffet. They might have different investments styles, but in the end, none of them were market timers or forecasters. Alex Green repeatedly stresses the mistake of trying to time the market. And he's right.

Buy this book and take charge of your own financial future, while avoiding all the mistakes so many first-time online "day-traders" make.

Kudos to Mr. Green for exposing Wall Street in the book. I've had a feeling for years that the system is rigged against Ordinary Joe investor, but now I have proof from a Wall Street veteran. The strategy in the book -- which has beaten the market for years -- is simple, yet precise. But the best part is that Mr. Green tells you, very specifically, what to invest in! Tell me the last time you've read an investment books that does that.

Mr. Green has boiled profitable long-term investing down to a 20-minute annual exercise. And his recommended portfolio beats the market in good AND bad times. (The proof is all there.) The portfolio will not only diversify you into stocks and bonds, it will diversify you among all the major asset classes - gold, U.S. stocks, Treasuries, foreign stocks, etc. - which, as he explains, is where the magic is. He'll show you how much (in percentage terms) of your nest egg to put in each asset... as well as the specific investment to buy to get exposure to each one. (You'll also cut your investment costs by a wide margin, which really adds up.)

I've read Graham's Intelligent Investor and Security Analysis - both classics, and incredible guides on managing risk. But The Gone Fishin' Portfolio, which also, incredibly, minimizes your risk and increases your total return, tells you specifically what to buy - something you just can't get out of the classics. (Green's investments will still work 40 years from now - a true "set and forget" portfolio.) I've ordered a copy for my God daughter AND my parents... and I'm recommending it to all of my friends who still think they can beat the market willy nilly. A must read, for sure.

This book simplifies investing in a way that makes it possible for those who don't want to have to read the WSJ and Barron's regularly to still do well. In fact, based on the information shared in this book, watching the WSJ and Barron's may unnecessarily complicate your investment decisions.

The author has a lot of reference material that supports his approach. This book gives me hope that the "lazy" investor (Me) can still prosper.

If you have a portfolio or want to have one, read this book.

Aside from the book being readable and enjoyable, it finally does what no other investment books do... tell you what to do!

Instead of complex formulas and vague recommendations, this book shows you exactly what to invest in and in what amounts. It's a portfolio that will work for 99% of investors. Of course it also explains why this portfolio works and proves how the portfolio beat the market in good times and bad.

When just a few percentage points of extra return can completely alter your retirement, it's important to manager your portfolio properly without sending half of it to your financial adviser. And this book shows exactly how. One of the best and most direct investment books available.

Just finished reading this book. It's tremendous. If you have a 401K, retirement account of any kind, or just like to trade stocks, you'll definitely love it. The writer Alexander Green first tells you how the big Wall Street banks are screwing the little guy left and right and then shows you the perfect antidote - the details of his proprietary portfolio. It's pretty fascinating stuff - he shows you right where to put your money, and shows you how to do it in 20 minutes a year. The track record goes back eight years and it has doubled the markets every year pretty much from the data given. Even if you don't use the exact portfolio these ideas seem like they can make you and save you a lot of money. You'll never have to pay another mutual fund fee, for example!

I'm pretty much a "beginner" when it comes to investing, and before I read Alexander Green's book and I was considering getting someone to manage my money and make investments for me. But I decided to read this book first, and I'm definitely glad I did! Now I'll never let anyone but me touch my money. This book gave me the confidence to do my own investing...and his way I only have to spend 20 minutes a year doing it!

The strategy is based on one that won the Nobel Prize for economics. It's a great read for investors of any age, those just starting out to those ready for retirement. It's an easy, straightforward read, definitely not boring, and the best part is, it's refreshingly honest. Not like so many of those other "get rich quick" type books out there. Alexander Green really cares about the readers. And instead of just going on and on about vague ideas, he actually tells you what to do and how to do it (I've tried it and it works). I've read quite a few investing books and know its rare to get such simple, step by step instructions that actually pay off like The Gone Fishin' Portfolio does.

I thought Alex's new book was a fantastic read, especially for a financial based book. The idea behind the Gone Fishin' Portfolio is an excellent case of really being able to invest your money but in a very safe and manageable way --- where you can plan and not worry for years to come. I am not a very experienced investor but after reading this book I gained the confidence to be able to start doing more with my portfolio. I think this book would serve anyone, at any level of investing, very well. If you haven't picked this up to read yet, you definitely should!

Why?

Recently I sold my business, or as the financial community would have it, I experienced a "liquidity event".

The proceeds of the deal now need to be cleverly invested. But what I really want to do is master the art of fly fishing. This seems a lot more enticing than delving into the intricacies of correlation, beta, derivatives, hedge funds, ETFs, active management etc etc etc.

Otherwise stated, going after that lunker rainbow seems a lot more engaging than the quest for the evanescent and elusive alpha.

Enter author Alexander Green and The Gone Fishin' Portfolio. His premise (promise?): a proven method to manage your own money in twenty minutes per year and outperform the great majority of highly compensated managers.

Sound preposterous? Maybe, but after reading The Gone Fishin' Portfolio I'm considering giving it a whirl.

The first part of the book (Get Wise) presents straightforward principles about money and investing. Some examples -

* "Unlike the performance of the stock market, saving is something that is under your control".

* "In most walks of life you get what you pay for. This is emphatically not the case with investment advisors".

* "Experience tells us that it's humility - not superior knowledge - that paves the way to successful investing".

In Part 2 (Get Wealthy) Green talks about long term equity investment and the pitfalls of attempting to time the market. He then debunks active management, making the case that after fees and expenses the great majority of managers fail to match the performance of the overall market. This sets the stage for a discussion of index funds as a low cost, tax efficient approach to equity investing.

Next the author details the Gone Fishing Portfolio itself - an asset allocation of index funds covering domestic and international stocks, various categories of bonds, as well as real estate and gold mining shares as alternative investments.

What about the twenty minutes per year? That's the time it takes to rebalance the portfolio, making sure that the percentages devoted to each asset class remain consistent over time. This simple process makes great sense. It forces the discipline to buy low and sell high. That's because the assets that will be sold in the course of rebalancing are those that have appreciated in value while those that are bought (to bring their value up to that required percentage of the total) will typically be those that have declined.

Simple but powerful principles.

In Part 3 (Get On With Your Life) the author talks about just that. He reminds us of what's really important, writing, "Time, not money, is your most precious resource. It is perishable, irreplaceable, and, unlike money, cannot be saved. The beauty of the Gone Fishin' Portfolio is that it allows you to redirect your time to high-value activities, whether it's work you enjoy, time spent pursuing your favorite activities, or just relaxing with your friends and family".

OK. That's what I needed to hear. To quote our President, "Bring 'em on" (the trout that is).

As you can see from the data below, this is a robust strategy that anyone could adopt despite the fact that it is experiencing a down year so far in 2008. From the beginning of 1997 until 8/8/2008, Green's Gone Fishin Portfolio (GFP) strategy enjoyed a cumulative compounded return of 221.58 percent versus the dismal return of 49.36 percent for the S&P 500 index. That translates into a 10.53 percent annual rate in a period when the S&P 500 compounded at 3.49 percent.

Unfortunately, most investors, whether experienced pros or the greenest of neophytes, would likely have discarded this strategy during its first period of underperformance. Sadly, this is the case because we all tend to forget that excellent investing returns--even Warren Buffett's--are generated over long periods of time that include lots of gyrations and volatility.

So, I would encourage you to consider this strategy with its above average market returns and far lower volatility. The rationale for the average star rating is because of the amount of filler that is included in the book.

P.S. At the very least we should all follow his advice to save more money!


Gone Fishin with Vanguard

Start Date: 1/1/1997 Index: ^GSPC
End Date: 8/8/2008 Signal Generator: LTBH

Years GFP S&P 500
1997 23.69% 31.01%
1998 2.94% 26.67%
1999 27.02% 19.53%
2000 -2.42% -10.14%
2001 6.90% -13.04%
2002 -2.97% -23.37%
2003 31.40% 26.38%
2004 11.98% 8.99%
2005 12.63% 3.00%
2006 17.02% 13.62%
2007 14.59% 3.53%
2008 -11.61% -24.65%



Month GFP S&P 500
January 0.81% 0.24%
Februar 1.17% -1.09%
March 1.29% 0.86%
April 0.76% 1.98%
May 0.76% 0.78%
June 0.81% -0.09%
July -0.54% -0.75%
August 0.15% -1.50%
Septemb 1.70% -0.85%
October 0.35% 2.78%
Novembe 1.67% 2.08%
Decembe 2.32% 1.52%

I'm a CPA, and I think this book is excellent investment coverage for inexperienced investors. It's also good for experienced investors who are honest with themselves about the net returns and excess stress their trading is generating. (To get some of the juice but less of the stress, active traders may want to set up a "play money" account for short-term trading, but use this plan for most of their money.)

This book gave complete and accurate coverage of the whole investment spectrum. It was also well written and well organized. Alex Green covers saving your initial capital, asset allocation, saving on mutual fund fees and taxes, and then discusses investor psychology. This plan is easy to implement even for inexperienced investors. Green gives specific mutual fund and Exchange Traded Fund recommendations. His recommended asset allocation is different than the usual domestic stocks/bonds/cash, and he offers compelling reasons for considering different asset classes.

Although I hadn't read about the Gone Fishin' Portfolio before, I had already implemented many of its' principles through trial and error. As a result, during the past week of front-page headlines about stock markets tanking, I wasn't stressed, and my portfolio held up well.

I recommend the book, and I'll buy more copies for gifts.

A SHAMELESS SELF-PROMOTION FOR THE AUTHOR AND AGORA'S OXFORD CLUB

While this may be "considered" a "snooze and you can't lose" way of investing, it is NOT a be all, end all investment strategy which the author would have you believe...allow me to give you some facts and feedback:

First off, The Gone Fishin' Portfolio thru April 24, 09 has a dismal one year to date track record (and probably the reason the author doesn't publish "current" figures on his website-more on that later). According to the number presented by Vanguard themselves, it had a one-year return of a NEGATIVE 33.20%. This info came from the Vanguard site itself and follows each investment percentage in the funds suggested by the author.

Okay you ask, how did it do for the last five year period?...again according to Vanguard, the overall return based on the percentages allocated to each fund stated on Pg 91 in the book, comes to .74%.

The largest one-year loss was a whopping 58.59%, and the smallest was 2.90%. EVERY fund in the portfolio bar none, had a losing year, and seven of them lost over 37% each. No small number for sure.

Okay you say, last year was a bad one for all stocks...okay, then let's look at the five year track record: The largest loss was 8.78% and the smallest was .10cents with the highest return being 5.55%. Again, these numbers are on the Vanguard web site and the percentages were applied according to the Portfolio allocation suggested by the author.

The author did not mention that some of the funds sold by Vanguard require a minimum of 10k to invest plus as he says, you will pay a fee to invest in some of the funds as well as a fee to get out and then there are those funds which are closed to new investments.

So if you want to construct this portfolio, you would need a minimum of some $37,000 vs. the $30,000 he mentions on Pg 94 . But in all fairness, the author also suggests there is an alternative to using Vanguard Funds such as "The ETF Alternative" suggested on Pg 137. This is possibly a less expensive route to take (you pay a one time fee to buy and another to sell which thru a discount broker, could be less then paying an annual on going fund management fee), and certainly more efficient (you can buy and sell anytime during the day vs. the end of the day with mutual funds).

So getting back to my comment about the author's website posted on Pg 12 in the book (which is more hype about Agora's newsletters and financial products that the author is involved with). It claims "It will allow you to track your progress and even reminds you of the simple steps you need to take once a year to keep your portfolio on track). Well not being able to find the how to track your progress part on his site, I wrote a number of times to the author who never responded to my inquiry. Perhaps he was embarrassed by the dismal performance of the portfolio over the past five years and certainly would be devastated if he was confronted with its one year returns...so would you be if you started your investment in this Portfolio when the book came out. Ouch!


Since the book was published in Sept of 08 (according to the info on Amazon), we have to imagine the numbers presented by the author that "the fund has returned 10% annually since its inception on April 27, 1992" would give us approximately a time span of 16yrs. However, the portfolio got decimated over the past five years (nothing in the book speak to this more current time frame), and certainly got trashed over the last year! Now the author gives us a new time frame on his site. Which talks of a five-year track record of 17.3% a year "since its inception". So that begs the question, what is the inception date he speaks of that we are to believe as readers of this book. The one that gives us a great return from some date many years ago, or the last five year track record found on the Vanguard site as mentioned above.

And lastly, if one was to look for something very simple and cost effective while keeping one's money on this shore, I would look at msn money's site and scroll down to their "top rated stocks" and check out the StockScouter Top Ten Portfolio. You will note an annual return of 22.38% where the portfolio was tracked from Aug 1 of 02 through Mar, 31, 2009 which certainly is a much more current view of the term "inception".

Bottom line, this is a book for the rank beginner who has never invested in the stock market; has a fear of getting his/her toes wet in investing; and needs to "go fishin" for something easy. But wait, isn't this the kind of person who should never invest in the market to begin with?...and if they did follow this method, just think of what would have happened to their portfolio since this book was published. A 33.20% loss!

Good luck, go fishin, but don't snooze if you do...and don't buy the hype that investing can be as easy as casting your line (money) amongst these fishes (funds) and get wealthy.

Very good and detailed insights to information Wall St. probably wants to keep private. Well organized book that's easy to read. Couldn't help but get the sense it is slightly biased but overall a recommend from me.

I always hate to be the one to ruin the ending of a book or a movie, but in the case of Alexander Green's 2008 book The Gone Fishin' Portfolio I'm going to spare you some time. The book's purpose is to give the beginning investor a clear plan for handling their retirement savings. According to the author the Gone Fishin' Portfolio is "about handling the money you intend to retire on simply, effectively, and cost-efficiently, with the absolute minimum of time and attention." It is not a book geared towards active traders or experienced investors, but rather those investors just starting out or for those who have little interest or time in studying their personal investments.

Green focuses on the six key factors in determining your long term portfolio's value: 1) Your savings rate 2) Length of time investments are held 3) Asset Allocation 4) The assets' annual return 5) Annual expenses, and 6) Tax rate. While he touches on all 6 points in the book, his primary focus is on asset allocation which he claims is the most important investment decision one can make. He proposes a portfolio consisting of low correlated assets using investment vehicles that have low expense ratios (he suggests Vanguard funds). The proposed portfolio is: 15% US Large Caps, 15% US Small Caps, 10% European Stocks, 10% Pacific Rim stocks, 10% Emerging Market Stocks, 10% High Grade Bonds, 10% High Yield Bonds, 10% TIPS, 5% Gold mining stocks, 5% REITs. That's it - buy this portfolio, watch your expense ratio, and rebalance annually.

I can't argue with the basic premise that asset allocation, low expenses, and rebalancing are critical components of a long term portfolio. This book could be useful for a beginning investor who has a 401(k) and has no idea what he or she should be investing in and who needs a very basis plan to follow. However, Green's plan/portfolio can be made in much less space then a book and can be found for free on reputable investing websites. In addition, there is no new information here for anyone who has done so much as a leisurely study of investing. I do have issues with the 'one-size-fits-all' nature of the portfolio. No distinction is made among different age groups or among those who may have a low tolerance for risk. In addition, correlations can change over time and as we saw during 2008, in a crisis all correlations go to 1. Unfortunately for Green his book was published prior to the crisis of 2008 and in a post 2008 world, many investors will not let go of the memory of what can happen when diversification fails to insulate a portfolio.

The author, Alex Green, does a good job under scoring stocks as being a good long term investment but I had to laugh as I read it as my reading coincided with the October market crash -- not the time to be buying in ! I am at about retirement age, so the long term strategy is perhaps not my game anymore - but for younger folks, I think his book is excellent reading as the world hopefully recovers from this banker/ liberal induced depression nightmare. I have faith that stockholders will soon fire the greedy, self-serving corporate CEO's and insist on solidly run companies which generate real profits and pay attractive dividends -- until that begins to happen, the "Gone Fishin' Portfolio" recommended by Mr. Green doesn't seem to make sense yet.

I just finished reading the book. Wow.

I'm a fairly new investor and investment books aren't exactly my "thing". But this book was incredible. The author didn't use fancy language. He explained everything in a way that was easy to understand but still interesting. And it wasn't all just theory and ideas. He gives you step-by-step instructions on what to do.

Highly recommended.

I'd agree with another reviewer who said the book could be condensed into a page. The additional stuff wasn't very entertaining or educational so I found it a rather tedious read. If you want a really good, basic book on building a portfolio read Bogle's "The Little Book that...". Then, if you want help with asset allocation, just go to Asset Builder's website and look at their Couch Potato portfolios.

I also agree with another reviewer who expressed skepticism over the author's one-size-fits-all approach. Maybe there is one size that fits all, but what are the chances it's his portfolio?

Finally, the author does not really explain WHY he has suggested his specific gone fishin' asset allocation. Yes, he explains that REITs and gold stocks often do well when other stocks do poorly but...why does he recommend the percentage allocations he does? With no explanation it seems arbitrary.

Read better books, such as Bogle's, Four Pillars of Investing and Your Money and Your Brain. Those three will probably cover 95% of your needs.

Terrible book ! It was one big ad for Vanguard portfolios (which you found out at the end of the book). A big rip-off! Don't waste your money on this missal. I won't trust anything from Agora again.

As said by another reviewer, that author simply has you split your investments into 10 Vanguard funds. The allocation lost money in 2000, 2001, and 2002. It also took a big hit in 2008. Granted, it lost less in 2000,2001 and 2002 then the S&P but big deal. There are tons of mutual funds that out perform the market.

The reviews portray this as a " Gone Fishing" portfolio. Not the case with a record like this.

This is the first investing text I have ever read. I must say, it was quite helpful to become acquainted with the basics. I was not familiar with a few terms but a quick visit to wikipedia solved that.

It is true that the author has a strong bias toward Vanguard and the portfolio he recommends contains 100% Vanguard index funds. However, Vanguard really does have rock bottom fees (both for individual funds and yearly brokerage fees)and does have a good reputation in the investing world in my limited experience.

This book could really be condensed into half as many pages as some people are suggesting. Probably not an essential text that you will want to hang onto, so plan on reselling it from the start.

This book does not focus on and complex calculations or numbers and the only hard facts it contains are shown in visual figures alongside the text.

Some of the emphases of the book:

1. Short term investing not covered in this book, nor is it generally recommended by the author.

2.Make sure to become acquainted with and pay attention to capital gains taxes and fees, they are a significant cost in the long run.

3.A diversified portfolio with uncorrelated assets increases the chance that you will have more ability to buy low and sell high during multiple economic conditions.

4. Become an agnostic about predicting the market in the long term, because the richest investors don't claim to be able to.

If you are new to investing and can find a cheap copy, this book comes highly recommended by both myself and several relatives that are successful investors.

The author claims that investing is not as complicated and time-consuming as we have been conditioned to think. Because we are the ones who care the most about our money, we need to rely on ourselves instead of a financial "professional" who might not have our best interest in mind. The author shows readers exactly how to invest their money effectively in about 20 minutes per year.

The philosophy behind The Gone Fishin' Portfolio is that common stocks and bonds should be part of everyone's portfolio. Instead of spending time researching individual stocks or bonds, an investor should own these investments through index funds. This strategy not only beats the majority of money managers but also offers investors low fees and costs.

- Mariusz Skonieczny, author of Why Are We So Clueless about the Stock Market? Learn how to invest your money, how to pick stocks, and how to make money in the stock market

Basically it says put all your funds in a bunch of different mutual funds. All Vanguard funds, by the way. Great advertisement for Vanguard.

The only good thing in the book is in the beginning he talks about how the financial industry always tries to convince everyone that investing on your own is "too complicated". By golly, you cannot do it yourself. That's what he did for a career, now he argues that you shouldn't do what he said to do for a whole career. Instead, you should just put everything in a collection of different types of mutual funds. And only Vanguard funds.

And I actually had to pay to get this advertisement. Sheesh.

Summary: Sound strategy but hard to execute.

After 25 years of investing, I agree with the author on most points. Unfortunately, even if I had had this book the first day I started investing, it would have done me little good. This is because the author ignores some key points, which is frustrating as the book is mostly padding, anyway. Point 1: The portfolio assumes you can put your retirement money wherever you want. Not true. Most of us are restricted to our company 401k choices. Point 2: when considering tax implications, the author states to put some Gone Fishin' funds in an IRA, the rest in taxable accounts, then rebalance once a year. The last time I checked, I couldn't shift money out of an IRA pre-retirement without paying a hefty penalty. Third point: key funds were closed at the time the book was written (though some have opened up thanks to the recession). Fourth point: like so many advisors, the author suggests you withdraw no more than 4% out of your account each year in retirement, but offers NO advice on the best way to accomplish this (such as, 4% across board, sell only best performing, etc.). This book left me feeling frustrated. If you are young & have a lot of freedom in investment choices, then I would recommend you buy it. Otherwise, borrow a copy & keep expectations low.

This book did a great job of providing a simple asset allocation model that could be used by almost anyone who wishes to manage their own investments with little expense. The book also successfully incorporated the ultimate life principle of time value into the equation, thereby designing an investment strategy that would require very little time, allowing more time for enjoying life. Furthermore, it did the best job I have seen in comparing index fund vs ETF investing.

There were 2 areas I would like to have seen addressed with the hindsight of the past year, which was not available to Mr. Green when he wrote the book. There were several investments included in the asset allocation model that typically are not included. Such a departure is certainly welcome. Gold and REIT's were included in the asset allocation model as assets that are noncorrelated with the stock market. As we have seen, there are times when real estate and gold are correlated with the stock market, as all 3 have been down over the past year. In most markets, however, these assets should provide some degree of hedging against the stock market.

Second, I don't think that timing can be completely disregarded for any investment. An initial investment using this asset allocation model now vs. a year ago would produce an enormous difference in results that would take many years to iron out. Incorporating some simple historical measurement tools into the equation could improve results without adding a lot more work for the investor. The author stresses that rebalancing provides buying while assets are low, and selling while high, but this often initiates selling near the beginning of long term uptrends.

There is also some helpful information for retirement planning, such as calculation of the amount needed during retirement to fund your current lifestyle. Lifestyle choices are also addressed as part of this equation. Overall, the book is an excellent read for anyone seeking portfolio management through a simple, yet promising asset allocation model using low cost ETF's or index mutual funds.

Hoping for a new approach to investing, I purchased this book. However, it contained the same old advice that I read over 15 years ago! The worse part is that the author advises investors to put all their eggs in one basket. Sorry, but this chicken prefers to put his eggs in different baskets...

I've got a library of investment books and use both fundamental and technical analysis; but "The GONE FISHIN' PORTFOLIO" gives a simple, easy to understand method anyone can use to spend VERY little time and have a solid investment plan that should beat the market over time.

For the average American investor that wonders why they've just lost a huge chunk of their life earnings--this book offers some answers and a solution for building a portfolio that may weather the coming financial disaster. No--I don't think the worst is over yet--and this book may provide some needed help.

Alexander Green is a seasoned professional and he lays it on the line why the average investor would be much further ahead financially if they followed his very explicit plan for long term investments. The investor incurrs minimum fees in this plan and it does not require a lot of time. The overwhelming majority of brokers and financial advisors cannot beat the record of this system. One of the tricks is a prize winning technique of rebalancing the portfolio annually which enhances long term performance. He himself is a financial newsletter writer and he does say there are some stock pickers that can get good performance but it takes more effort by the individual investor to follow their advice.

This system is easy to setup and maintain, no body should have any problem following the instructions.
About 90% or more of the book is used by the author to teach and explain the reader several investment ideas and knowledge, among them:
That we all have what it takes to do it and that nobody will take more care of your money than yourself.
To use this system with the Vanguard mutual funds you should need about
$30,000 and with ETF I am planning to start with $5000.
I recommend this book to anybody who wants to save for retirement.

OK book--best part was the review of recommended funds to buy--did not need an entire book to convey those thoughts

If you ever had a gut feeling that you needed to do more with your hard earned cash and had no faith in financial advisory services then read this book. I am curious to know if this strategy works in the current environment, but if it is true, Alex Green is a rare breed indeed in the financial world. I must admit that I am skeptical enough to reserve judgment.

I found this book easy to read and understand, even for me who is uncomfortable with details surrounding stocks, bonds, and all the jargon associated with investing. Alex Green comes across as a previous Wall Street insider that has "seen it all" and is now ready to tell the average Joe how the system actually works. It is sorta like a magician revealing the details of his tricks. In this case the message is simple - you can handle your own retirement portfolio with minimal effort, and do at least as well as most very well paid financial advisors (who get paid whether you make money or not). In my 60 years on the planet, Alex's words sound very reasonable to me and I am pretty much following his advice exactly. I am headed to Yellowstone National Park to work and fish this summer, and will NOT be fretting about the Stock market one bit. What goes down, will come up eventually.

OK. Why only 4 stars from me?

The GFP (Gone fishing Portfolio) has beaten the SP500 since 2000. The returns from 2000 - 2007 are documented on the authors own website [...]

BUT here is my issue: The author conveniently claims that since 2003 the return of the GFP has been 17.3%. This creates a credibility issue in my mind. When one calculates the return of the GFP from 2000 - 2007 using the authors own figures the return for those years is actually 9.17%. Again kudos as the SP500 return was 2.83% for the same period. But the choice of the higher percentage makes one look twice.

For the years 2000 - 2008 the return of the GFP has been 4.63% (2008 was a return of -31.7% for the portfolio vs the -38.49% for the SP500) whereas the SP500 return has been -1.76% for the 2000-2008 period.

Otherwise a great book. I do recommend it.

If you want to become financially independent in your old age, this book shows you how. The method is very simple and easy to manage for investors of any expereince level. I sent this book to everyone one of my six siblings. Highly recommended.

What "The GONE FISHIN' PORTFOLIO" lacks in hype, it makes up in good advice. Back testing shows it to have worked in good times and bad. No promises or secret systems. Not for high rollers: this book is for those who prefer the odds of "the house". If you follow this approach, you will no longer be sponsoring your broker's affluent lifestyle.

I have yet to receive my shipment since placing my order on Sep 19.

Where is my shipment?

Just read the book. As a retiree, doesn't seem to fit as well, i.e. long term horizon vs retiree short term. Couple of issues did arise: 1) Did Green reinvest dividends and if so how did that impact the 17.1% average return? I assume dividends did get reinvested, but if so, again how does that compare to the S&P benchmark? 2) Bigger problem, if you are investing money in both IRA, 401K, or other qualified plans and the rest in non qualified or after tax money, how do you rebalance? You can't shift money back and forth between IRA and after tax portfolio without maybe incurring penalties or limits on investments, i.e. $2,000 per year in IRA. The same holds true if you try to balance by adding cash, you may be impacted by either 401K or IRA contribution limitations. The author should have clarified that.

Overall, an easy to follow formula for investing, too bad it doesn't have an addendum online for the current market meltdown.

This book presents an interesting general approach for those that wish to manage their own portfolio and who don't want to spend a large amount of time reading and researching financial reports and publications. The two problems I have with it are:

1. It tends to be written for the North American market and some of the references and types of investment recommendations do not have direct equivalents or conditions here in the UK market.

2. Given the current global and general melt down in all investment values, I think even this prescriptive approach would have taken a value pasting. I know it says think long term but as it has a big equity bias, I am not sure now would be a good time to apply it for your portfolio.

This book is an excellent primer for someone who is an investment beginner. The author offers mostly good advise; although some of the assumptions he makes in the portfolio construction seem to be incorrect--i.e. using the Total Stock Market Index fund as a large cap domestic asset allocation and recommending the precious metals mining fund as an integral part of an efficient frontier portfolio.

MY WIFE MARY THOUGHT SHE PAID THIS THROUGH OUR VISA ACCOUNT. HAVE WE DONE SO? IF NOT WE CAN MAKE ARRANGEMENTS TO TAKE CARE OF THIS PRONTO. THANK YOU. MICHAEL D. DOSHAN

If you have a large sum of money and you don't want to be bothered with the anxiety of constant trading but still want to grow your money, then this book is your answer. If you have little money, then Gone Fishin' Portfolio still offers a good philosophy toward and understanding of markets.

This book is easy to fast read through and pick out the answers to your questions. Some books provide weak or nonexistent answers, but Alexander Green comes through. He not only gives a formula for investing, but explains how to manage the investments on a yearly basis including suggestions toward reducing your taxes.

This book is outstanding. It makes a ton of sense, is readable, yet well researched. Most important it takes you through concrete steps instead of leaving you to work things out on your own. I think this book will make me a lot of money, and heartily recommend it!

I've read a lot of Alex's articles for the Oxford Club. This book sums up his investment philosophy pretty well and puts it in perspective with the rest of the finance industry. It's very readable, the advice makes good sense and, historically at least it's worked (His recommendations have worked very well over the past 5 years) and runs counter to much of the so called "investment advice" we're bombarded with in the media, by pushy brokers and Wall St.. I wish this book had been out 20 years ago - I'd have saved quite a bit of money avoiding dead-end penny stock schemes, market timing attempts and getting absorbed in the next "boom". Alex shows how to set up and easily (few hours a year) manage your portfolio in a specific, easy and straightforward manner. He tells you specific funds; way more valuable than the "do a lot of research", "buy low and sell high" that many other books on the subject spout. It's definitely worth the read; especially in these times.

GREAT TACTICS FOR LONG TERM WEALTH BUILDING. I WISH THERE HAD BEEN A BOOK THIS THOROUGH AND COMPLETE 25 YEARS AGO.

AFTER READING THE BOOK, I ALSO BOUGHT ONE FOR MY SON AND ANOTHER ONR MT SON-IN-LAW!

This is a great book for someone looking to managage their own finances. This formula appartently is deployed in larger financial institutions. It also tells you exactly how to invest with no gray areas.

My husband and I got much useful information from this book. As we are in the process of realigning our retirement funds this was timely for us.

getAbstract recommends this excellent, straightforward, hype-free and solidly grounded guide to investing. Research analyst and investment advisor Alexander Green draws on portfolio management methods used by the world's biggest institutional investors. He goes straight to the basics, emphasizing financial discipline, saving and awareness of costs. The portfolio he recommends consists entirely of low-cost Vanguard mutual funds, mostly index funds. He recommends keeping 70% of your portfolio in stocks. That recommendation may seem risky, especially in view of volatile stock market performance. However, he cites historical and financial research to demonstrate that, over time, equities have been the highest returning class of investments, even during such catastrophes as the Great Depression. This kind of straight talk is an excellent prophylactic against both the panic of crashes and the euphoria of bubbles.

I have subscribed to Alexander Green & Steve Sjuggerud's newsletters for some time. The book is not in-depth, but it touches on many key subjects investors should know. Not too certain about the validity of certain recommendations since the market drop of 08, but the points are fantastic. I recommend this book to any new investor.

This is the perfect book for someone with money to invest or has money in a retirement account. Especially for the person who just doesn't know how to break it up amongst the many investment choices offered. As far as the reviews complaining about the makeup of the portfolio, I would say that this book provides a starting point, a ground zero, to begin to put a portfolio together. Once the allocations are in place and you get a feel for things, then one can begin to explore and educate themselves in ways to tinker with their holdings and alter their strategies. or, JUST leave it be and GO FISHING. My only comment on the negative side is too much push for Vanguard. I would've liked more alternatives suggested.

A complete explanation of how the market works. Explains in detail about expenses, i.e. taxes, broker comissions and better ways to manage your money. Excellent well written by an insider with great depth.

Finally, I read this book recently, given to me by one of the members of Castle Rock. This is a great book, it really advocates looking after your own money. I use a professional service, but take a active role in the management of the cash flow. Ministers must educate themselves on these money issues. Every preacher must understand how money works, insurance issues, and retirement programs. This is a wonderful book after you have been doing this for awhile. It is not a starter book, but will help once you understand some of the basics.

A very interesting approach to investing. Makes a lot of sense and shows the "investment industry" for the frauds they are.

One problem: it is aimed at people pre-retirement age. I would like to see this author write a book for retirees.

This book is very well laid out and explained. Even for the investor with little of no experience, Alexander Green gives you some very helpful advice. In a rocky market like today this is a must read. It is by far the easiest way to beat the market.

This book explains in a clear concise manner many of the pitfalls of investing & how to minimize their effect. It is a quick read.

Good book ... simpley written ... chock full of information. I like the down to earth, no BS approach Mr. Green takes with the reader. What I did not like has nothing to do with the book. It has to do with amizon.com and the time it took to get the book. I ordered the book on September 19th and did not receive it until October 22nd ... over a month.
Not good.

I am thankfull for the concise information and for the research that is shared. This is not an idea book. It is an how-to book with all of the conclusions and instructions included. My thanks to Alexander Green.

Very easy to read. It's a simple application. It can be started with very little money. Whatever minimum your broker will allow. The main thing is to start NOW!!! Get it and it could change your grandkids lives.

I was so impressed with this book, I have been recommending to all

my friends and family, it's a must read.

Alexander Green's book works on a number of levels: beginning, intermediate and sophisticated.
His introductory material and explanations are clear and relatively concise. The case for equities is well-made and expands on other sources.
At the intermediate level, he introduces a diversified investment style with real advice on how to implement it. His selection of Vanguard mutual funds is a little restrictive, but he expands that with alternate investments including some ETFs. Again, he provides a clear explanation of his selections and how they contribute to the portfolio.
At the sophisticated level, this book is not just another one-trick pony like many other investment books. It is built on proven concepts both in the marketplace and in academia.
Plus, it's a good read.

Great plan, especially for younger folks just getting started investing. I'm 62 and I think it's not as good for me but I still give it five stars. In fact I'm going to order two more copies, one for each of my kids.

Excellent book setting forth a strategy that Oxford Club has charged for in the past. But now people can get it for less than $20!

Well written book to help make my investment life easier. Gets right to the core and gives real help not just vague suggestions.

Very good investment advice. I implemented most of what was stated and will see over the next few months how the portfolio does. The time is in the middle of the 2008 'recession' caused by sub-prime lending and reckless investments. I wanted to try an approach to investments that was successful over the long-term.

Why pay overpriced and usually incompetent "wealth managers" when this tested and proven method only takes the discipline to work the strategy for 20 minutes per year??

Has your recent experience in the stock market stressed you out and/or scared you off? The investment portfolio offered in this book is sensible and simple to follow. The reasons for it are examined and explained, so it does not require blind faith, and the author receives no monetary gain if one follows his plan. No more trading for me and no more subscribing to hyped financial newsletters. I was fully convinced by the book and have established for myself the so-called "gone fishin'" portfolio.

Plain and simple. Easy reading and should work just fine...after the fallout of the present market crash.

The book is an easy read that makes sense for investors that want to spend little time analazing and more time sleeping nights.
It presents a straight forward investment strategy that is easy to understand and implement.
I only wish I had utilized this strategy last year before the current market turmoil has devestated my investment portfolio!

You get what you pay for here.I have been a reader for 5 years.You can learn many major things on investing in yourself first.

Alexander Green,the well respected investment director of the Oxford Club,gives us small investors a fighting chance to shelter our declining portfolios from the manipulations of dishonest brokers,self-serving "Gurus", and rapacious hedge funds, and enjoy a more peaceful nights sleep doing it!

The Gone Fishin' Portfolio: Get Wise, Get Wealthy...and Get on With Your Life (Agora Series)
The book presents a good overview of asset classes, asset allocation, diversification, and portfolio construction. Unlike many general books, the authors actually construct the "Gone Fishin' Portfolio" showing specific funds and allocations. They present two versions of the portfolio - one using Vanguard Index Funds and the other using ETFs. Either one seems to be a good, low cost way to construct a balanced, well diversified portfolio. Whether you could actually just "Go Fishin'" in today's market environment is an argument better left to the market timers.

If you're interested in portfolio construction, this is an excellent book. It's written so pretty much anyone can understand it. I highly recommend it.

Good solid advice. The stock market has been good to me but, if I had implemented this stategy fifty years ago, I'd be in even better shape with far fewer gray hairs.

The short and sweet of it is that I wish I had seen this a long time ago. My children will be far better off from reading this at their stage of life. Nice to read a common sense, no blarney book.

a GREAT book to read and shows how almost anyone can put a successful long term investment plan together without the advice of a commissioned investment broker. Great reading and advice.

This is a must read for anyone who wants to simplify and control their own investment portfolio. With today's economic uncertainity, we need to have a better understanding of how to maximize, yet preserve, our capital. This book helps us do that! A very quick and easy read as well.

The author does not give just broad market sectors to invest in but give specific sectors and funds to be in and why. Additionally, alternatives are given in case you are unable to select the recommended funds. A great help.

This book provides a solid rationale for the portfolios and gives very specific recommendations. No guessing what he means.

I am a fairly sophisticated investor, and I have read many investment books over the years. Everything written in the book rings true to me. I am not ready to adopt the author's suggestion, since I feel we are in a deflationary scenario under which almost ALL of the diversified portfolio will suffer, but when we are passed this time I intend to implement the portfolio.

I like the approach,which strikes a nice balance between greed and safety.

The aim is to get more than 11% compound interest per year long-term. If you have a recession and lose 6% for three years running, grit your teeth and go fishing. History shows that you'll make a big profit in the fourth year.

This book shows what are your main costs, and how to minimize them - even the tax-man's thefts.

85 Years old, and I discover the primer I should have read 20 years ago.
Now that I've wasted my efforts and my meager funds on a couple dozen advisory services, trying to turn $5,000 into a million like they all promise, I find the logical and effective investment advice I should have had years ago. It's not a "get rich quick" scheme, but it is a sure-fire, wealth building process with positive results, and the sooner you start, the better your life (and your fishing) will become. I recommend the book highly. Glen Ethier

I was extremely pleased with the speedy delivery and ease of ordering. This is my first time ordering from Amazon.com, but won't be my last.

The book is easy to read. The investment strategy is even easier to implement. Its so simple but the results are OUTSTANDING. Use this approach and relax while your investments work for you.

Great book, easy to follow and timely advise on setting up a long term portfolio for positive returns > 15% Excellent author, very knowledgable.

This will become a classic in the restoration of common sense and order into a vital part of our existence, namely the preservation of the fruits of a lifetime of labour.It is a breath of fresh air and reason, after the revelations of the nature of much of the financial establisnment,which could inspire people to follow and to accomodate their own finacial future to a system with a sound, researched underpinning. The direct and logical content could help maximize the potential of what you have,without putting an unfair portion into another`s everwilling pocket.It it a wonderof light reading and peppered with the wisdom of the great ones.

simple solution for a hard problem
once you realise that saving doesnt equal investing then this book is a solution to the vital question - what is investing ?
I love great theory that has been won from hard experience
I also love lazy solutions that are intuitive and easy
hedge funds can be a massive rip off - this shows why and what to actually do about your future wealth
read and prosper