Tony Robbins 'Hunger-Relief Organization Feeding America' By Peter Mallouk

Originally published: Simon and Schuster, February 2017

Author: Tony Robbins, Peter Mallouk

ISBN: 9781471164934

Pages: 256

If you’re looking for a one-two-punch of a book that covers behavioral economics/investor psychology and the fundamentals of investing, this is the book for you. This is Tony Robbins’s latest book, co-written with Peter Mallouk of Creative Planning. Robbins have planned to donate all proceeds of this book to hunger-relief organization Feeding America.

The book is under 200 pages and is perfect for those who don’t find it easy to get through a work of non-fiction, not to mention a book on investing. In it, Robbins highlights important passages for ease of skimming. He also makes good use of quotes and cartoons

It has the same investing themes that were in Money: Avoid financial predators, use low-cost indexed investments, minimize your taxes, and good asset allocation is important, plus a dash of Tony discussing human behavior and psychology. But in this book, he adds to that mix his thoughts on dealing with stock market corrections and bear markets and why you should not fear them.

The book is organized in three sections:

1. The first section deals with Addressing Uncertainty and what Erodes Returns: The author used history and advice from top investor to help us understand that even in turbulent times, our reality is not much different than other times in history. His advice is to not pay attention to the market unless you’re making decisions, such as rebalancing your portfolio on a yearly basis also if one is there in the market for the long-term, the short-term ups and downs are inconsequential.

Another thing to watch for is fees. Fees are usually hidden and often egregious. One needs to be informed of what the fees are (front loaded, back end, recurring, fixed, variable), as levied by the advisor, his/her firm and the fund companies in question. The total cost can be staggering, cutting an average investor’s returns in half!

How to select investments and how to diversify in a way that insulates us from market volatility and risk: The second sections of the book deals with selecting investment options. According to him an important aspect of finding the right investments is where we’re getting our advice from. As vast majority of financial advisors are brokers, it implies one is asking sales people for advice. Hence one need to select the investment options very carefully. The best way is to select the investment options that is in line with the objectives and personal financial goals

3. How to overcome our tendencies to become our own worst enemy when it comes to building and protecting our wealth: The third sessions talk about the way to reduce irrational thinking and reduce risks. The author stress upon having wingman/women to keep a check upon the actions and to ensure that one is not doing anything off the plan.

In a chapter called “The Core Four,” Tony dives into key principles that can help guide you with any investment decision you make. This section is sort of a congealed and congruent summary of the expert interviews from Money. It’s all explained in an easy-to-understand format. However, some of it does lack actionable