Tiny Bubbles
Title: “Payback Time: Making Big Money Is the Best Revenge!”
Author: Phil Town
Rank: 6
Blurb: “Payback Time’s risk-free approach is called ‘stockpiling’ and it’s how billionaires get rich in bad markets. It’s 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.”
Suggested Tags from Similar Products: “investing”, “finance”, and “garbage”.
Customers Also Bought: “Jim Cramer’s Stay Mad for Life: Get Rich, Stay Rich (Make Your Kids Even Richer),” by Jim Cramer and Cliff Mason (published December 4, 2007)
Footnote: We’ve been informally tracking the Amazon Top 100 for almost a year and a half, and we don’t recall seeing a get-rich-quick book recently. So we’ll take this as an informal leading indicator that Americans are almost ready to play the casino again.
Payback Time [Amazon]
Buy or Die [Stinque@Amazon kickback link]
The book’s advice is completely idiotic – it asserts the (true) fact that if you know the “value” of a company is higher than it’s present stock price, then you can buy it cheap and make $$$.
True, but irrelevant – the whole purpose of SEC regulation, financial statements, etc. is to *prevent* this kind of information asymmetry. The economists even have a name for the idea – the Efficient-market hypothesis.
So in essence, this is a book for people whose financial intelligence is on par with the teabaggers historical intelligence – people who believe that the crash in 2008 was due to short-sellers rather than the complete clusterfuck of CDOs and shady jumbo mortgages.
Further, I wonder how the people who bought his first book (in 2007!) that claimed that he could show you how to turn $1000 into a million in 5 years. :)
@al2o3cr: Oh no!!!! I took out a mortgage on the house to follow his advice. As before posted I figure the solution to my current state is to become rich and this seemed like a sure bet.
I guess it’s back to option B: Smash!!!! How to Grow Rich Investing in the Musical Theatre. I’ve already got Andrew Lloyd Webber lined up to write the forward. What could go wrong?
@Benedick: I’d invest with Bialystock and Bloom. You can get a big percentage of their next musical for almost nothing.
I’d rate that advice about equal with anything in books by those world famous billionaire philanthropists Phil Town and Jim Cramer.
They will reinflate the bubble, and the cycle will begin again.
Huh. Another book tagged as garbage: The Fixer-Upper Man: Turn Mr. Maybe into Mr. Right in 5 Easy Steps by Cooper Lawrence. I wonder how that happened…
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