By Jonathan Chevreau
Indexing evangelist Andrew Hallam, also author of Millionaire Teacher, recommends “three good investment books you’ve probably never heard of” in a column in the Globe & Mail.
As recounted in his own book, and columns in MoneySense and elsewhere, Hallam used to buy individual stocks until he realized the error of his ways and switched to indexing: and not just “core and explore” but 100% indexing. If you feel like following suit but don’t want to pick your own ETFs at a discount brokerage, check out Sandi Martin’s excellent piece on how to choose a robo-adviser, right here at the Hub.
With all deference to Andrew, personally I’ve heard of two of his three books, plus of course his own and the U.S. book he mentions at the outset, so the comments below are by me, rather than Andrew. For Andrew’s take, click on the original G&M piece highlighted above in red.
Hallam begins by noting that for Americans, one of the bestselling indexing bibles is Burton Malkiel’s A Random Walk Down Wall Street. For the Globe, he highlights three similar Canadian books:
Here are Hallam’s three picks:
1.) Chris Turnbull’s Your Portfolio is Broken. New to me, so I’ll have to check it out.
2.) Keith Matthews’ The Empowered Investor. I’ve reviewed this at least twice and it’s a great overview of passive asset-class investing.
3.) Dan Bortolotti’s MoneySense Guide to the Perfect Portfolio. I edited the proofs of more than one edition of this book, so know it well. All the MoneySense guides are reasonably price at under $10 retail, less for e-books. Dan, who is also an investment adviser at PWL Capital, provides a thorough overview of the underpinnings of indexing and the basics of how to open a discount brokerage and start trading, plus a solid overview of ETFs (Exchange-Traded Funds).