It’s been quite a while since our last book review and giveaway, but lets get it going again with a great personal finance book written by the popular Globe and Mail columnist, Rob Carrick.  The title is a bit long, but descriptive to the overall theme of the book.  The book is titled “Rob Carrick’s Guide to What’s Good Bad and Downright Awful in Canadian Investments Today.”

About the Author:

According to the book:

Rob Carrick is one of Canada’s most widely read and best-respected financial experts, with two decades of experience as a business and economics reporter and commentator.  Carrick worked on both Bay Street and Parliament Hill before becoming the personal finance columnist for The Globe and Mail ten years ago.

About the Book

As you can probably conclude from the book title, this book focuses on the Canadian investment industry and does a great job explaining how the industry works in a brutally honest fashion.  Although this book is meant for the beginner to intermediate investor, there is something for everyone in this book.

Did you know that when you buy mutual funds from a discount broker that they keep the trailer fee even though they didn’t offer any advice (except Questrade)?  Or the traits of an advisor that you should look out for?  Or even mutual funds that actually provide value?  Those are just a few tid bits of information that I gathered from the book.

The topic areas covered in the book include:

  1. Getting off to a good start – how to get started as an investor, some common mistakes.
  2. Mutual Funds – how fund fees work, and lists of good and bad mutual funds.
  3. Navigating the Stock Market – how to build a simple portfolio without mutual funds, dividend investing, discount brokers, ETFs.
  4. Bonds, GICs and other conservative stuff – fixed income rip offs, ETF alternatives, principal protected notes, high yield bonds.
  5. Do-it-yourself investing – reasons to use a discount broker along with a listing of the top 3, investments that go great with a discount broker account and online resources for investors.
  6. Investment advisors – traits of good and bad adivsors, interview questions, and steps to take if an advisor has wronged you.
  7. Information, please – recommended websites/newsletters/calculators for investing.

Final Thoughts

Overall, I enjoyed this book and would consider it a must read for personal finance enthusiasts, especially those just starting out on their journey.

Want a Free Copy?

The book publisher was generous in offering Million Dollar Journey readers the chance to win a free copy of the book.  The details are below:

  1. Follow our new Facebook page by clicking “Like” on the top of this page. (+1 entry)
  2. Leave a comment in this post. (+1 entry)
  • Only one comment entry per person (valid email addresses only please – privacy policy).
  • Only those with a North American mailing address may enter (publisher rules, sorry).
  • Contest will end Fri 5pm EST Sept 10, 2010 and the winner, drawn randomly from all entries, contacted shortly after!

160 Comments

  1. Lavneet on September 10, 2010 at 2:11 pm

    Sounds like a good book for most beginners



  2. Heather on September 10, 2010 at 2:30 pm

    Glad you are now on FB!



  3. Ruth on September 10, 2010 at 3:40 pm

    Enjoy Rob Carrick in the Globe and Mail. Would love to win this book



  4. Will on September 10, 2010 at 5:29 pm

    Looks like a good book, thanks for the review.



  5. Luc on September 12, 2010 at 4:00 pm

    Interesting book, would like to read it.



  6. Ryan on September 12, 2010 at 10:18 pm

    mmm, free books



  7. helen dakin on October 9, 2010 at 10:10 am

    rob carrick. one of my my favourite writers!



  8. Michael on October 18, 2010 at 9:42 am

    Pick me, pick me!



  9. Mark on October 18, 2010 at 10:25 am

    sounds like a valuable book



  10. FrugalTrader on October 18, 2010 at 11:20 am

    NOTICE:

    I put the wrong link in the RSS post. If you want to enter the RESP book giveaway, please leave your comment by clicking the following link:

    https://milliondollarjourney.com/the-resp-book-review-and-giveaway.htm

    Thanks!