Solid gray-suited strategy for preserving that capital you might still have through the ups and downs of the four-year business cycles and twenty-year ""secular movements."" A lot of individual investors lost theirmonogrammedshirts during the go-go years, and Train's very cautious short-term investment advice is designed to lure that little guy back into an increasingly institution-dominated market by babysteps. He's down on glamour issues, conglomerates, tax shelters, technical analysis, options, convertibles -- all those starry-eyed schemes from the '60's -- and bullish on bonds (the essential conservative hedge), the ""great little specialty company,"" and the mass-market franchise-type corporations. Recommendations like ""buy prime growth in periods of market weakness"" are obviously stale, and the more serious investor will be impatient with the author's cutesified exemplary tales of fools who did like the grasshopper instead of the ant. As might be expected, Train is an advocate of economic ""homeopathy"" (government non-intervention), doesn't believe in mixing morality with money questions (if that firm in South Africa shows a profit. . .), is an enemy of unionism (avoid investing in companies with strong labor organization). It all hints of nostalgia for the pre-Roosevelt, pre-SEC days when people of taste (not your Disneyland/Holiday Inn/McDonalds types) could get as rich as they ought to be. For old-line Tories.