Originally posted by Arjunkumar Shastry: I won't call it best but its a good book.It may not be very valid in Indian context.
I read it a few years ago and I concur with your assessment. The book is a good one and I would recommend it to anyone who wants to understand one aspect of personal cash flow management. It is pretty good for beginning investors in US.
It's a good book, but don't use that book for practical investing advice. That book describes an investment "philosophy". So, if you are reading the book to figure out where to invest that 20grand that you have saved, you don't need that book.
I think it can be applied to Indian context too. There are some chapters on how to not get into bad debt, and IMO most Indians don't need that chapter. However, most of the chapters talk about staying in a stable job vs taking risks to get ahead in life. I think those chapters are useful.
I would give it a "Two thumbs up". Its one of those books where the author tries to shake the belief that the path to financial success in life is that one has to go to college, take up a job in big firm, buy your own house etc.. He tries to point out that how important it is to getting used to the idea of investing your money in life, to gain much greater financial rewards. He does a damn good job in putting forward his thought provoking ideas. Not a book for "How should you invest", but more towards "why should you invest"?
The book is more like if you are a procedural programmer, it sells you and makes you appreciate the idea of object oriented programming or design patterns. But implementing it is a quite different ball game :-)