Friday, 6 June 2014
Millionaire Teacher (Andrew Hallam)
According to the in-book profile, Hallam is a school teacher at an American international school who managed to built a million-dollar portfolio, doing so while on a teacher's salary. He also has his webpage which he updates from time to time. This book covers basic investment knowledge such as the concept of compound interest, purchasing habits and the dangers of letting someone manage one's portfolio (versus active management of one's own portfolio), among other topics. Bonus points to those who notice the pun in his title.
Although the book is divided into nine parts for each of the nine rules, I feel that they are more things to note, habits, or knowledge, rather than clear hard-and-fast rules. The book makes for pretty light reading even though facts and figures are thrown in and the local context will allow Singaporean readers to relate well. The book reads as if Hallam is personally talking to you which is quite reassuring; kudos to the author/ his editor. This is a really great book for beginners but I feel that his book is a little biased towards ETF's and indexing strategies (which have their own pros and cons, and such topics are not bad for a beginner to read). It could be the author giving good advice via his tried-and-tested methods. However, readers looking to a discussion of fundamentals in stock-picking will be disappointed.
Found in NLB: Yes