Review: Invested

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A couple of months ago, Hubby got a free ebook with his subscription to the Wall Street Journal and the book he chose was Invested: how Warren Buffett and Charlie Munger taught me to master my mind, my emotions, and my money (with a little help from my dad) (2018) by Danielle Town and her father, Phil Town. He was really enjoying reading it and shared some of the things he was learning as he read it. I looked it up on my local library’s website and discovered it actually sounded like something I might also enjoy reading, so I requested the paper copy and the audiobook and waited for them to show up in my account. It didn’t take me long to catch up to him because while he was stopping at the end of each chapter to complete the homework exercises, I was thinking about them but moving forward with the book. I had also gotten copies of Phil Town’s books Rule #1 (2006) and Payback Time (2010) and had read through Rule #1 also.

If you are a total newbie to the investing world, like me, you will love Invested. I really appreciated Danielle’s willingness to share her reluctance to take charge of investing her own money. She also shared her extreme dislike of all things numbers. I found I related to her style of writing much more than Hubby did. He found Phil’s style more to his liking, so maybe it is just a guy thing. If you want to learn how to get started investing for absolute scratch, this is the book for you. It explains how to find great companies that share your values and how to determine their value and what price to buy them at so they are “on sale”. This is called value or values investing and is generally considered to be the style of investing that Warren Buffett and Charlie Munger have used since the 1960s to amass their fortunes.

This book is an excellent read and has given me the confidence to tackle investing on my own. I highly recommend reading or listening to it if you are considering taking over managing your own retirement accounts. The book is meant to be read over the course of a year and is broken down into months with homework assigned each month to help you build the confidence to begin investing your own money. Don’t worry about having real money to invest because at first, you will be practicing by using paper money or paper trading until you get confident enough with your ability to use real money.

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