Never Buy Another Stock Again: The Investing Portfolio that Will Preserve Your Wealth and Your Sanity

Introduction

I come from a family of careful investors. There’s a theory that people who have not experienced the kind of hardships that Americans faced throughout the Great Depression are more cavalier with their money, but that didn’t extend to my family. At the end of every month, I take my spare change, put it into paper coin rolls, and deposit them at the bank, a habit learned from my grandfather. He was one of the all-time great penny-pinchers, who did suffer through the Depression.

But many in recent years forgot about the past—and they repeated it in horrific fashion. Investors with little or no experience in markets were lured into investing in stocks after more than two decades of terrific gains in the equity market, and they got ...