Expert Lew Coit, investment scientist and counselor, and Changing Times' writer-editor Hazard have collaborated on a book for the unsophisticated investor, obviously written before the May market decline recommending the purchase of good common stocks of the growth genus as a hedge against inflation. It gives a good deal of generalized advice from studying the financial pages of the newspaper to planning a diversified portfolio. The authors, who have a firm faith in American industry, select a wide number of common stocks in various fields, and also include investment companies (mutuals, open ends), real estate, insurance, savings accounts, etc. The more experienced investor may not entirely share their belief that if you buy carefully, you can put your stocks away and just watch them grow. And perhaps the timing here for the new investor taking his first fling may be a little off- along with the market.