Review: Investing for the First Time (Canadian Dollars & Sense)

After I realized that most of what I was reading was based on investing in the United States, I wanted to gain some Canadian perspective.  This was the only book I found at Chapters that was obviously Canadian, so I picked it up for just over $10.  Let’s break it down.

Pros

• Good basics.  Although I am already familiar with them, the very basics are laid out here quite well. 
• Obviously, it’s Canadian! All the theory and examples given are relevant to Canadian investors.  I actually learned some relevant stuff about RSPs and TFSAs, which was nice.

Cons

• Very short.  The whole book is barely 100 pages, so there isn’t much detail on any one subject, and they cover nothing more than the very basics
• No advice.  Although there is theory in these pages, you won’t find any real advice or strategy like presented in the Boglehead’s Guide to Investing
• Felt similar to reading a textbook.  A minor detail, but I didn’t feel like there was a human voice behind the words.  It wasn’t boring or overly technical, but no personality in the least.

Conclusion

I started this book because I had learned a lot from American resources, but wasn’t sure what would apply to Canadian investing as well.  In that regard, the book was useful.  I am now more familiar with the opportunities that us Canadians have, and I feel like I will have an easier time applying advice I read in American books.  However, in the end the book was far too basic.  It is very clear that the content was, as the title suggests, for the first time investor, so maybe I am being too harsh.  But even for an introduction book it does nothing to point someone in the right direction based on the goals they want to achieve.  It’s theory, and that’s all.

Rating: If you are a first time Canadian investor and want to know some basics before trying to figure out a strategy, the quick read might be worth your time, but I’m sure you could do better.