Chris Minnucci is a self-taught investor, writing to help others navigate the path to financial independence. Formerly he was a mining engineer at a large consulting company. Thanks in part to the many hours he spent learning about investing, Minnucci was able to retire at the ripe old age of 57. He first became interested in investing in 2005. At that time he hired a financial planner to create his retirement plan. Minnucci intended to retain the same planner to manage his nest egg going forward—but changed his mind when told of the planner's fee! He decided instead to try the Do-It-Yourself approach to investing. With some trepidation, he began to read up on the subject. It proved to be not too difficult, so he kept at it until, much to his surprise, he discovered that he liked learning about investing. What started as a chore became his hobby, and then his obsession. Since 2006 he’s used what he’s learned to grow his own nest egg and to achieve his goal of a secure, comfortable early retirement. With retirement has come the freedom to pursue his passion: teaching other amateur investors the ins and outs of successful investing and retirement planning. Minnucci is a member of the American Association of Individual Investors. THE DEATH OF BUY AND HOLD is his first book. He lives in the Philadelphia suburbs, and is currently at work on his next book.
“A superb how-to manual for the motivated self-investor and an authoritative retirement handbook...”
– Kirkus Reviews
A comprehensive debut guide to smart, do-it-yourself investing with an emphasis on saving for retirement.
Minnucci, a former mining engineer who retired early, seems to have cracked the code of retirement investing and become his own best adviser. Thankfully, he shares his considerable knowledge in a book that’s highly readable, remarkably thorough, and filled with fact-based, sensible investment counsel in which the author serves as both educator and cheerleader. He offers a solid historical basis for having faith in stocks, replete with examples and tables, while also recognizing the value of “high-volatility hedges,” such as precious-metal equities, and “low-volatility hedges,” such as bonds. He provides a cogent, well-written overview of multiple investment vehicles, including U.S. and international large-cap stocks, small-cap stocks, value stocks, mutual funds, and exchange-traded funds. But these are just building blocks; the real strength of the book is its detailed, step-by-step approach to structuring a well-diversified portfolio and understanding how to protect and preserve its value over time. Along the way, Minnucci covers such key concepts as diversification (with a stimulating discussion of “the principle of compromise” and “the principle of correlation”), portfolio optimization, dollar cost averaging, tax-loss harvesting, and, perhaps most important, portfolio rebalancing, which he calls “the secret sauce.” He targets his investment discussion specifically to those thinking of retirement, focusing heavily on reducing risk. To that end, he provides a simple formula for calculating a withdrawal rate, discusses how to reduce expenses, and considers the impact of Social Security benefits on retirement income. One of the book’s more intriguing chapters, “How to Do Nothing,” features a “Rational Decision-Making Pledge” designed to help a retired married couple ensure their commitment to a buy-and-hold investment strategy, supplemented by a “six-step process” to avoid the mistake of making emotional investment decisions. Also included is intelligent retirement investment advice for those who are still working.
A superb how-to manual for the motivated self-investor and an authoritative retirement handbook for anyone who wants to know how to put investment theory into real-world practice.
Pub Date: Jan. 27, 2015
Page count: 432pp
Publisher: Capital Strategies Press
Review Posted Online: June 17, 2016
Kirkus Reviews Issue: Aug. 1, 2016
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The Death of Buy and Hold: HOW NOT TO OUTLIVE YOUR MONEY — INVESTING FOR, AND IN, RETIREMENT: Kirkus Star
The Death of Buy and Hold: HOW NOT TO OUTLIVE YOUR MONEY — INVESTING FOR, AND IN, RETIREMENT: Named to <i>Kirkus Reviews'</i> Best Books, 2016Use Volatility to Your Advantage with "Black Belt" Investing, 2015 The Best Way to Invest for Retirement, 2015 Chris Minnucci, Author of The Death of Buy and Hold, 2015
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