Friday, May 28, 2010

Jim Parker's New Book

Jim Parker, VP at Dimensional, has just published his new book, Outside the Flags 3: Discovering the Value of Good Advice.

In this book, the third collection of articles from his web column Outside the Flags, Jim Parker uses these topical issues to highlight the value of good advice:
  • Crises come and crises go, but lunches are still not free, return rarely comes without risk and patience remains an under-rated virtue.
  • If you are worried about bad news, chances are it is already in the price. Investing is about what comes next. We don’t know that so we diversify.
  • You don’t need luck to be a good investor. More useful are patience, discipline, a focus on costs, a willingness to diversify and a decision to take only those risks that come with a long-term reward.
  • The media builds neat narratives from messy reality. While often interesting, these are not something to base an investment strategy on.
  • Investors grappling with market turmoil often question the value of financial advice. Better to ponder the cost of bad advice.
 Please contact me directly if you would like a copy of Jim's new book.