Review: Rob Carrick's Guide to what's Good Bad and Downright Awful in Canadian Investments Today

I have a very long to-read list.  It seems like every time I finish a book, I find five others that I know I have to read eventually.  So when I found this book online it was probably the 20th in my list, accompanied by some very big titles that have been unanimously well received.  But I'm just a sucker for Canadian investing.  So much so, that when I was browsing my local Chapters and found that the only copy they carried had a coffee stain on the cover, I drove to the closest one that had it in stock and picked it up.

I'm actually very glad I did.

The book is less of a textbook and more of a reference to investing.  It is laid out in a list formation, which is actually fantastic, and guides you through mutual funds, the stock market, bonds, and pretty much every other topic you've probably seen in this kind of book. The real difference is that in most books, I find that you learn some great strategies but in the end you aren't really sure what specifically to invest in. For example, I have learned about the advantages of having small and medium-cap funds in your portfolio, and yet I have no idea which specific funds are available to me, much less which will nicely round out my investments. 

In Rob Carrick's Guide, the lists are so specific that everything you read about is relevant to your own investments.  Here are some examples:

• "Five big, fat mutual fund industry rip-offs"
• "Five good socially responsible funds"
• "Five essential ETFs
• "Three low-cost ways to buy stocks"
• "Three online resources that do-it-yourself investors should certainly use"
• "Ten traits of a good adviser"

...and so many more.  Now don't get the wrong impression by the word 'list'.  Although that is how the sections are organized,  each one of these lists contains vital information written concisely enough that you are not bogged down by technical jargon, but still come away with advice that you can put to use right away.  The format makes it extremely easy to jump back to a section and quickly pick out the information you are looking for, without having to dive into long-winded paragraphs.  Let's break it down.

Pros

• The lists are fantastic; great advice for whatever topic you are thinking about, whenever you need it.
• The no-nonsense tone.  If something is bad, Rob Carrick will call it bad and tell you why.  If something is great, you will no doubt understand why he feels that way.  It's written in a very accessible way; there is definitely personality in these pages
• Lists, lists, lists!  Again, the index will take you wherever you want to go.
• The breadth of knowledge and experience of Carrick reinforces everything he says.  I haven't invested in any specific sectors, but he has and you can read all about them and why you might consider it.

Cons

• I can literally think of no cons.

Conclusion

Like the title suggests, this book is a guide.  If pure interest is your primary reason for reading the book, you will definitely pick up some great information.  However, I think the real value comes from the fact that no matter what I decide to do with my investment portfolio, I know there is a section about it in this book that will take me right where I want to go.  Want to venture into the stock market? the top brokerages, dividend stocks, and some great advice are all in here.  How about adding some corporate bonds to your portfolio? Here are three easy ways to do so.  Want to try do-it-yourself investing? There are two great lists about discount brokerages and the best resources online to benefit from.  I could go on.  

No matter what type of investment you are interested in, there is something to learn hidden in this guide.  I can already tell that I will be reading over these pages in the future as my portfolio evolves, and the value in that is worth way more than  the cost of any book.