The Gone Fishin' Portfolio: Get Wise, Get Wealthy...and Get on With Your Life

by Alexander Green, Bill O'Reilly (Foreword)

Learn how to invest, relax, and let your money do the work with this incredible guide
Fully revised, updated, and expanded for the first time since its New York Times Best-Selling debut in 2008, the legendary Alexander Green's essential guide for individual investors spells out stock-market success for everyone from first-timers to seasoned pros.

The Gone Fishin' Get Wise, Get Wealthy...and Get on With Your Life, Second Edition delivers a long-term investment strategy that lets you reap the rewards of financial success with a simple, yet sophisticated, strategy that increases returns, reduces risk, and leaves you with time to enjoy the finer things in life.

You'll learn about the fundamental relationship between risk and reward in the financial markets and get a trading insider's view of how the investment industry actually works. With The Gone Fishin' Portfolio , you'll also
Perfect for individual investors who want to put their money to work for them, The Gone Fishin' Portfolio gives you all the tools you need to manage your own money and maximize your investment returns today.

Genres: Finance, Economics, Nonfiction, Personal Finance, Business, Audiobook

288 pages, Hardcover

First published August 6, 2008

Reviews

[Katie S. · Rating 4 out of 5]

Makes a ton of sense, easy to follow, very interesting! Read the whole thing on the plane from California.

[Jeff · Rating 5 out of 5]

Most books I've read that advertise an easy one-size-fits all portfolio argue that the best method is to just invest in a total stock market index fund (with maybe some bonds) and contain a lot of information about the efficient market hypothesis (EMH). These books should probably have been around 50 pages long but somehow take up 200 or 300 pages.

Mr. Green takes a different approach. He breaks down the Gone Fishin' Portfolio (GFP) and explains why it should be the core of every ones investment strategy (but not the entire strategy). He also does not agree with EMH but writes that it is possible to attain better than average results by investing in specific businesses and also sectors that are on a bull run. However, he does agree that it is not possible to time the market as a whole, which is why the GFP does not even try this but instead is supposed to create the best returns over time through both bull and bear markets.

There is one point in the book that I don't agree with. It's not a big deal but i'll mention it anyway. He writes that asset allocation is the single most important investment decision. I believe that setting aside money in the first place is the most important decision. One can have the best plan in the world but if money is not invested into this plan then nothing else will matter.

I like that throughout the book he recommends many other books (and websites). Now I have a lot more books on my 'to read' list.

Highly recommend this book.

[Christopher Sanford · Rating 4 out of 5]

I thought this book had some great, practical advice about investing that any reader could grasp - down to the individual funds that are recommended. The best thing that a reader can take from this book is that making money is about time, not timing. That is, it’s better to start investing now and stick it out for the long haul, even if the market isn’t ideal at the time.

[Matt Innes · Rating 3 out of 5]

While the advice contained within is perfectly sensible for someone who does not want to devote many hours per week to investment, as a book it is hampered by a lack of content. It boils down to a recommendation of a dozen or so funds and an exhortation to save as much as you can. You could probably fit the meat of the book on a page of A4. However it's written in an engaging style and does a good job of instilling confidence in the reader that they can invest their own money safely.

For UK readers: How to Own the World: A Plain English Guide to Thinking Globally and Investing Wisely uses a remarkably similar approach (albeit with a different portfolio balance), but with the focus on investors in the UK.

[Schnaucl · Rating 3 out of 5]

It starts out with a quote from Ayn Rand and apparently Bill O'Reilly wrote the introduction to the 2010 version. There is some amount of people can't afford to retire because they overspend on things they don't need as opposed to there are structural problems like wage stagnation and crushing student debt and pensions have been replaced by 401(k)s which work better for employers and less well for employees. Not that I have an opinion on these things. But you can mostly ignore that.

Interestingly, the book was published in early 2008, just before the financial crash.

The first third of the book is extremely repetitive. Essentially, no one cares more about your money than you do, few active managers can beat the market, the fees you pay them will add up over time and drain your savings, etc.

The second third is where Green gets into specifics, telling exactly what to be and in what proportions. At the time of writing, it would take about 30k to implement the plan but things have changed since 2008. Most of the funds don't offer investor class shares anymore, only admiral shares, which would make it more expensive to keep the right proportions at the beginning, although costs will be lower over the long term. One of the funds, the one that invests in minerals and was occasionally closed to new investors at the time of publication, doesn't seem to exist at all anymore. There's also a chapter which suggests ETFs instead of mutual funds (ETFs were relatively new when the book was published) which would be less expensive, but again, some of the ones in the book seem to not exist.

There's also a chapter on which fund should be in a tax advantage retirement account and how to rebalance the portfolio (no more often than one year and a day for tax reasons).

The third section is mostly about setting goals.

It was an interesting book and if I had a bunch of spare cash lying around I might give it a shot.

There's also a website, www.gonefishinportfolio.com which has an annual update showing how it's done year to year.

[Laurisa Reyes · Rating 5 out of 5]

The best book on investing I've ever read. Written in clear, precise, easy to understand language, this is a book anyone, novice or expert, will appreciate. I never felt confused or bored. Rather, every chapter hooked my interest and made me want to read more.

As a small time investor (I only work part-time and can only afford to invest about $200 a month) I really appreciated the chapter on the ETF alternative portfolio. I will never afford the Vanguard Mutual Fund portfolio, but over time, I should be able to cobble together the ETF one, slowly but surely.

I'm 52, and I just started investing late last year (I began with individual dividend paying stocks as per Marc Lichtenfeld, Green's cohort at Oxford). Green's book has given me hope that it's not too late for me. My goal is not to have money for myself but to end up with something substantial to leave to my kids one day so THEY can retire comfortably. And I'm teaching my kids, in their teens and 20s now, to save and invest NOW. I'm giving them all this book!

Thank you, Alex Green, for making investing doable and profitable for average middle class Americans like me.

[John · Rating 3 out of 5]

Well written and to the point (especially awesome about a concrete strategy to follow).
Unfortunately it feels a little dated given that it was written right before the Great Recession and we're now in a brave new world of cryptocurrencies and roboadvisors.
The "bogle head" movement and Vanguard are actually mainstream and junk bonds, gold, and emerging markets actually sound like throwbacks to pre 2000.
Since it's not full of fluff it is important that the reader recognize (it is hinted multiple times) this is written for an individual with some chunk of wealth that's attempting to save for retirement over a lifetime (he frequently cites 30 years) - a somewhat niche audience.

Still a good, factual, quick read for someone attempting to orient in savings finance (since the alternative marketing blitz by wallstreet/online is dangerously alternative-fact/wrong).
And the author did sort of try and document how the strategy worked over a decade https://gonefishinportfolio.com/track...), though I'm not sure he can still claim he's beaten the market (S&P / VFINX) in 2018.

[Lila · Rating 3 out of 5]

I haven't read a ton of financial books and don't know much about investing (but I am trying to learn, hence reading this book) so it's kinda hard to judge this book. I will say I felt fairly convinced by the arguments therein (a diversified portfolio of 70% stocks, 30% bonds) and the fact that it wasn't get rich quick. Rather it was accumulate wealth slow. Most of it seemed pretty inline with index investing that I have been reading about online. A do it yourself approach that is easy (only once a year reconfiguring) and avoids large overheads. This focuses on American options so it's more a guideline or idea for me (Canadian) then an actual plan. Also it was written in 2008 so it misses the new world of robo investors. Still as a stepping stone on learning about investments it was a worthwhile read. Also it's a quick read so that's a bonus too.

[Lauren · Rating 4 out of 5]

4 stars

I thought this was a very good overview of how to set up an investment portfolio, without needing to spend too many hours analysing every stock. It's a little different from some of the other investment books I've read over the past couple of years, but I think this is a good blueprint on what to do when you're feeling overwhelmed.

It doesn't go into much detail apart from to say the types of ETFs you should invest and recommending a percentage split of the money you have available. If you can't remember the percentages, or you borrowed the book from somewhere, these can be accessed from the website dedicated to this book. I don't think I will follow this exactly, but it has opened my eyes to a few diversified areas I had previously neglected.

[Bob · Rating 3 out of 5]

I would have rated this book a solid four stars had I read it back in 2008. Reading it now, at age 65, I recognize that much of what would have been new and helpful in it at that time reflects the lessons learned by experience and reading a hundred other resources in the meantime. Some of which I’ve implemented, but I’m confident that my efforts would have profited by applying this strategy during those fifteen years, rather than stumbling and bumbling my way toward something resembling it in the present.

I still would highly recommend it to anyone who is early in their pursuit of knowledge about long term investing. Well organized and presented.

[Aaron Dutton · Rating 4 out of 5]

This book describes an investing strategy that promises to minimize your effort and provide market-tracking returns with less volatility. It does this by investing in a number of uncorrelated asset classes and rebalancing every 366 days.

I would recommend reading this after JL Collins’ book, “The Simple Path to Wealth”. Collins does a better job of laying out the basics of financial independence and also the whys of index investing. This book builds on that foundation by providing a (in my opinion) better choice of asset allocation.

[J. Edward]

The core takeaway (the portfolio and ratios) is valuable. But, the book itself isn't something I'd recommend actually reading. A forward by Bill O'Reilly, quotes of Ayn Rand, lots of lectures about how the rich aren't a problem in American society because capitalism fixes everything feel a bit like my childhood in conservative circles. If you want the value from this book, send me an email and I'll give you the 10 minute version you can take action on.

[Keith · Rating 5 out of 5]

Really good but not strictly what I was expecting

Yes, it has the portfolio and I can see the logic in it but I honestly thought the book was worth the read even if someone wasn't going to use the portfolio because it just had a ton of important lessons about the market in it. I truly would love to actually talk to this author because he clearly has collected an immense amount of wisdom over the course of his investment career and shared a lot.

[Traven Teng Teck Poh Poh · Rating 2 out of 5]

Its great for beginner especially but basically this book is about the index Vanguard.

Personally I dont like as much as other investing books.

but still, one of the reminder for myself is

The 6 factors impacting your savings:
1. Amount you save
2. Length of time it compounds
3. Your asset allocation
4. Annual return on assets
5. Investment expense
6. Amount of taxes

[Mukta Mohapatra · Rating 3 out of 5]

This was recommended to me by someone I trust implicitly. He has used it as his guideline to financial independence.
I found a lot of the information very useful. It is a good look at saving money and investing it in a way that doesn't take a lot of your time, but still results in decent growth.
The author repeats himself a lot, but only for ideas he wants you to retain.

[Stan · Rating 4 out of 5]

This principles described in the book is useful. It even goes as far as recommending the asset allocation and funds to own. This may not be ideal for non-US investors to purchase the recommended funds due to withholding tax which will impact the return over the long term. However, one could look for alternative funds with the same investment strategy to optimise fees and taxes.

[Keijo · Rating 3 out of 5]

Positive:

Narrative sections were good, full of common sense wisdom regarding investing.

Negative:

Solely meant for a US audience, so not everything applies for a non-US person interested in investing.

I listened to the audiobook version, which was great for the narrative sections, but absolutely terrible for the long lists of investment data presented in the later chapters.

[Max · Rating 5 out of 5]

If you have read common sense investing by J Boggle then you do not need this book because the message exactly the except at the end the author seems to embrace the “loser’s game” -individual stock picking. You’re better of sticking with patron saint of indexing-J Boggle’s style.

[Alan Papa · Rating 5 out of 5]

Simple, Easy to use investment methodology

Very simple investment strategy. Be careful, this kid money in 2018. But, for those trying to eliminate the guesswork of investing, this does well most years!

[Matt Speer · Rating 4 out of 5]

Have not read much over the last six weeks. Just finished reading this one. Pretty good. Like many of the more recent investing books, recommends Vanguard index funds and ETFs. Interesting book that was worth the read.

[Tyler Prehl · Rating 5 out of 5]

This is the most easily-applied personal finance/investing book I’ve ever read, and is what I use for myself (in an adapted manner through Schwab). Green can definitely be repetitive in establishing his ethos, but the main points are worth getting to!

[Rory Baker · Rating 3 out of 5]

This is more targeted towards the intermediate/ advanced investor and not something to easily pick up. It has become somewhat outdated since it's writing and I feel the advice within isn't very relevant. Some good points are made but on the whole not great

[Jair Reategui · Rating 4 out of 5]

I tell you in 5 years.

[Ray · Rating 5 out of 5]

Best investment advice ever.

[Ben · Rating 5 out of 5]

Alexander Green is very good at communicating his ideas and his logic is sound.

[Ivan Kuznetsov]

Decent book, though very simplistic. Some of the concepts in the book are a bit dangerous.

[Vauban · Rating 1 out of 5]

Let's learn invensting from a guy who kills dolphins for pleasure. Yuk

[John Mitton · Rating 5 out of 5]

Investing is a difficult topic because of the incredible variety of material one can choose to cover. This is a great book for a beginning investor. Covers a lot of territory and covers it well. The author acts as a bit of a 'homer' towards his own portfolio - it would have been better to simply offer his portfolio and why he thinks it's good. Nobody can predict forward returns, so nobody can tell you the best portfolio (sharpe and sortino & other ratios notwithstanding, they all start with reasonable but unprovable assumptions.) I think it's a good portfolio - you aren't likely to kick yourself 20 years later for being stupid if you adopt it. I do think there are a few 'lazy portfolios' that should also be considered - the Yale Unconventional, and the Aronson Family Portfolio, in particular have very good track records in up and down markets. Also, the author recommends investing in shares of gold producers, and that's not a common option in your average 401K, so you may have some difficulty replicating (if it were me I'd use an intermediate gov't bond fund in it's place - an imperfect replacement, but in terms how it behaves within your portfolio, I think it's that or else a total bond fund, or perhaps LT Gov't.) Still, despite a few minor weaknesses, this book, more than any other I've read, provides a comprehensive grounding in the core issues faced by the new investor.

[L · Rating 4 out of 5]

Another book on indexing investment but this one focuses also on asset allocation.

The 6 factors impacting your savings:
1. Amount you save
2. Length of time it compounds
3. Your asset allocation
4. Annual return on assets
5. Investment expense
6. Amount of taxes

The portfolio encourages (all Vanguard U.S funds)
15% Total Stock Market
15% Small cap
10% Emerging market
10% European indx
10% Pacific Index
10% High yield corporate
10% Short term grade investment bonds
10% Inflation protected securities
5% REIT
5% Precious Metals and Mining Fund

This also goes over how to rebalance the portfolio. This book focuses on philosophies of great investors like Warren Buffet and John Templeton.

"To buy when others are despondently selling and to sell when others are avidly buying requires the greatest fortitude an pays the greatest reward."

In a similar vein to other books, keep your emotions under control and don't use past experiences to predict future ones. It also has a substantial section for Vanguard mutual fund and ETF details. Could possibly be outdated but a good introduction nevertheless.

It's a shame that this was written in 2008. I would have been curious to see how it performed since then.

[Claire Singlehurst · Rating 4 out of 5]

Very interesting read - I picked it up because it was recommended in ‘how to own the world’ by Andrew Craig, which was such an excellent and thought provoking read.

This book takes Andrew’s points further as the author shares a very specific investment strategy you can follow. Using Vanguard funds and making sure the portfolio is diverse to weather bad markets. It’s the first time I’ve seen such a strategy shared so clearly.

A few lessons from Andrew’s book came through (to be fair this book does pre date Andrew’s book, so really I guess Andrew has taken them from this book!)

1. Diversification is key. Across all things, don’t put all your eggs in one basket.

2. Annually review your portfolio and have the guts to move any % growth in one area of your portfolio to your under performing areas. Seems counter intuitive but makes sense to keep your % split across your portfolio.

3. Watch those fees!

4. You don’t need a fund manager or financial advisor. Clue up and manage it yourself.

5. Markets will go down. This is for the long term. Don’t get spooked, if your portfolio is diverse it will be fine.