Book Reviews

Harriman’s New Book of Investing Rules: The Do’s and Don’ts of the World’s Best Investors

518 pages. £19.99, Amazon from £16.88, Kindle £12.99. This is an updated compendium of investing rules from over 60 mainly UK and US professional investors. With so many contributors, many of the “rules” naturally contradict each other – for example, stockpickers’ recommendations of running concentrated and directly-invested portfolios (to avoid “diworsification”) conflicting with the index trackers counselling the use of ETFs and diversification (John Bogle’s advice here: “Buy the haystack”). I particularly liked the contributions from Frank Armstrong, a former US fighter pilot ...