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Usually ships in 1 business days | | | A pioneer in the financial media, Dick Davis has interacted with the investing public for over forty years. With his new book, he continues this trend. The first part of The Dick Davis Dividend contains an easy-to-read, yet profound discussion of the essentials of investing—focusing on the savvy veteran’s often unconventional, core beliefs. While the second part of this engaging guide makes a compelling case for combining both passive investing via index funds and active investing via stocks and mutual funds. | | | |
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| | Product Details | | Author: | Dick Davis | | Hardcover: | 471 pages | | Publisher: | Wiley | | Publication Date: | December 10, 2007 | | ISBN: | 0470099038 | | Package Length: | 8.98 inches | | Package Width: | 6.22 inches | | Package Height: | 1.81 inches | | Package Weight: | 1.54 pounds | | Average Customer Rating: |  based on 13 reviews |
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| | Customer Reviews | Average Customer Review:
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 The best investment book I have read May 07, 2008
I have been investing for about 3 years now. I am 27 years old. I wish this had been my first book on investing. It probably would have been my only one. Dick Davis is VERY realistic. There are no get rich quick schemes. No mathmatical equations, no B.S.. he is very honoest and very informative. I would suggest this book to anyone who owns a stock, is thinking of buyin a stock, or is curious about investing. Wonderful!!!
This One's A Keeper May 03, 2008
Great stuff!
Having read most everything by Bogle, Swensen, Bernstein, Swedroe, et. al., I found "Dividend" refreshing for it's objective take on the financial industry and the media's daily coverage of same. Yes, you've likely heard much of this elsewhere, yet not likely so well organized and presented. And yes, the book is long, but well worth a read - or two. I particularly enjoyed the broad coverage of passive portfolios. Dick Davis encourages exploration and critical questioning, to find what works for you.
Highly recommended.
3 of 3 found the following review helpful:
 A Long Read Apr 27, 2008
If you think this review is long, wait until you see the book - 454 pages.
I don't feel satisfied with the book. The reviews for it were great, it was recommended on a popular investment blog, I expected a lot. As someone who has been investing for several years, I don't think I got what I expected.
Without the preface, acknowledgments, etc, the book is 454 pages long; it's well written and well organized. But the first 50 pages are about Dick Davis, his early childhood, how much he enjoyed his summer camp, etc. I think I learned more about Mr Davis than I need to know.
One useful thing identified in the first part of the book is how Mr Davis operated as a media commentator and later as author of his newsletter, The Dick Davis Digest. Mr Davis writes that he was not comfortable recommending stock, bonds, and investments, so he focused on reporting what OTHERS were recommending, always trying to present a balanced view. I concluded that's the format for the rest of the book - what other people think with some input from Mr Davis, and of course Davis selected the people and work he's cited. I do think he tried to present a balanced view, or at least a view that is not so presumptive as to imply "this is the only way to do it, anything else is wrong!".
My basic frustration with the book is that I concluded that Davis was summarizing (often with other peoples words or work) what he has been led to believe are truths about the stock market, how to invest in it, etc, as opposed to presenting specific information that has worked well for him and why - there's a big difference. If you've been paying attention to mainstream commentary over the years, you've probably heard most of what's in the book. For example, at one point Davis argues that index investing is the way to go because so many experts use index investing; that argument left me cold, I'd like to see some numbers that lay out an irrefutable case. I'm not sure there is an irrefutable case.
Other examples: Mr Davis is comfortable with a portfolio of 80% passive investments (index funds) and 20% active investments (almost anything else). Why 80/20? My sense is that it's a consensuses number based on what investment luminaries he's dealt with have hit upon. No original analyses, it's probably ball-park right, just go with the flow.
Mr Davis presents 28, as I recall, lazy portfolios that were developed by investment luminaries. Enroute we learn that Andrew Tobias is concerned with gay issues and that Jim Lowell lectures on philosophy and religion and is an avid sports fisherman - why do I care? What we don't get is any sense as to how well the portfolios have performed in comparison to each other over a common time frame. Seems to me that without considerable analyses regarding the performance and relative performances of the portfolios we are left simply with a collection of hypothetical portfolios - which to me amounts to trivia.
He discusses mutual funds vice ETFs, and you've probably heard the tradeoffs before.
In fairness, Mr Davis does include several good resource lists for things like classic investment books, newsletters, financial blogs, etc. I've seen similar lists in other publications, but having them all drawn together in one book has value.
If you are a beginning investor perhaps this book has value, you may not have heard or read about some of the topics covered and it may offer some issues for you to think about. If you've been investing for even a few years, you've likely seen or heard nearly all the investment material covered in the book. Either way, it's a long read.
I'm very glad I didn't skip this one! Apr 12, 2008
This book is, without question, one of the best investment books available. Mr. Davis is a phenomenal writer who conveys concepts with ease, taking care to reiterate those concepts that many investors would prefer to overlook. The reader can tell that Mr. Davis truly cares about helping others learn to invest wisely. The book includes a culmination of wisdom learned over a lifetime dedicated to the investment field.
58 YEAR OLD LAWYER LEARNS FROM 80+ EXPERT Mar 26, 2008
Today is Tuesday, March 25, 2008. Last Wednesday, my portfolio dropped $154,229 or 8%. I am a successful investor who started with about $700,000 in February of 2002. Do the math! I'm almost all the way back today.
Several of the "pearls of wisdom" in Dick Davis' book were comforting after that, my largest drawdown ever, and that is despite the fact I like to think I have "nerves of steel." His book should be required reading in any investment class. The same is true for you if you invest for yourself or your family. No matter how sophisticated you think you are, this 80+ year old man, with a lifetime's worth of experience will teach you something important and vital. If you are new, he will teach you lots. One gem could make or save you thousands or even hundreds of thousands of dollars. At 58 when I attend Continuing Legal or Real Estate Education Classes, I know a lot of what is being taught beforehand. I seek gems. Nowhere can that one gem affect your fortune more than in investing, and Dick Davis' book has hundreds. Read the book. Memorize all that you can!
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