Very light and simple book. Not a lot of practical advice, but reasonably sound basic principles (with very little explanation thereof). As another reviewer says, probably a good starting point. ( )

88 pages including index. Basic investment book worth buying after borrowing it from your local library. Covers what you need to know before investing your money in stocks, bonds, or hedge funds. Gives the reader a clear idea of the risksan benefits of the various investment techniques currently in use today. This book is written for the lay person but it does not dummy down the matterial. This one book worth reading and buying.

Although the title of this slim book seems to promise yet another system for "beating the market", it's really an antidote for the kind of hype that litters the personal finance section of most bookstores (not to mention a cable channel or two). The authors argue that investors should aim simply to build a diversified portfolio that delivers the broad market rate of return consistent with their desired degrees of risk and liquidity. While this is hardly revolutionary advice, the book's strength is that it explains fundamental concepts in a way that's accessible to the lay reader, and at a length that can be read and digested in an afternoon.

If any aspect of Goldie's and Murray's advice is controversial, it's their stress on the importance of working with an independent, fee-only financial adviser. While, as they acknowledge at least in passing, this may not be the best approach for every investor, they do make a case that ought to be compelling to their book's intended audience. (Even for the experienced investor, they argue, a good adviser can help avoid common psychological traps.) At the very least, their explanation of the conflicts of interest that may impact brokers' advice, and the dangers of using an adviser who doesn't use a third-party custodian, may help investors avoid being taken advantage of by the unscrupulous.

I'd recommend The Investment Answer as the starting point for anyone trying to make sense of the bewildering array of investment advice available today. ( )