史蒂芬•西尔斯的《不屈不挠的投资者》（The Indomitable Investor）可以祝你一臂之力。身为《巴伦周刊》（Barron's）编辑的西尔斯在书中努力阐明投资者应如何避开华尔街数不胜数的陷阱，无论牛市还是熊市，都能赚到钱。开篇，西尔斯就揭示了一个惊人的事实，如果投资者能明白这个道理，就会比现在富有10倍。“糟糕的投资者考虑怎么赚钱，”西尔斯写道。“出色的投资者考虑怎么不亏钱。”
Let's say you've never read a book on investing. You avoided Peter Lynch's advice on how to get one up on Wall Street, dodged all the Internet get-rich-quick schemes, brushed off your in-laws' efforts to get you to read Suze Orman, and finally steered clear of the various "crisis investing" titles that have appeared in the past few years.
If you've held off all these years, why buy an investing book today? For starters, stock markets obliterated billions of dollars of your money. Then they skyrocketed while many people -- probably including you -- sat on the sidelines. But there's also the inconvenient fact that most Americans are now on the hook for managing their own retirement assets in some form or another -- either in a 401(k) or IRA. You may have even already admitted it to yourself: It's time for you become a better investor.
Steven Sears' The Indomitable Investor offers an enticing premise. The author, a Barron's editor, promises to explain how investors can avoid Wall Street's countless pitfalls and build wealth in good times and bad. Sears begins with an awesome truth that would make every investor 10 times richer if they only knew it. "Bad investors think of ways to make money," Sears writes. "Good investors think of ways to not lose money."
Think of it in practice. Warren Buffett, the most successful investor of the last 100 years, didn't get rich executing trades each day from behind a Bloomberg terminal in Omaha. Instead, he became one of the world's richest men by buying low-priced stocks that gave him a margin of error if things went wrong. Buffett didn't blow up during disappointing years, either, which means his wealth compounded year after year after year. Buffett often jokes about the importance of compounding. His first rule of investing? Don't lose money. The second rule? Don't forget rule No. 1.
Unfortunately, Sears squanders this brilliant starting point. After the first chapter, The Indomitable Investor grows a tangle of conflicting advice and dubious tips that emphasize typical Wall Street ideas for stock trading, which are exactly what civilian investors should avoid. He offers advice from former Bear Stearns Chairman Ace Greenberg, who always sells losing stocks -- no excuses.
Should you always get rid of fallen stocks? Of course not. Stocks of good companies dip for all sorts of reasons on their way to long-term gains. Plus, Main Street investors can't afford the trading costs of churning through stocks like Wall Street traders.