Panic-Proof Investing by Tom Basso shares Lessons in Profitable Investing from a Market Wizard.
I first read about Tom Basso in Jack Schwagger’s Market Wizards. But since then, I sort of forgot about Tom. However…
He recently popped up on my radar again when listening to the Michael Covel podcast. Michael interviewed Tom, a few times, and I found his insights to be fascinating. In fact, there is a four hour interview with Tom that I listened to while running a half-marathon a few months ago.
So when I learned that Tom had a book, Panic Proof Investing, I wanted to check it out. Now keep reading this book review to learn everything you’ll need t know about this unique investing and trading book. Now let’s get into it.
Panic Proof Investing Book Summary:
Panic-Proof Investing is a great book. It’s just under 150 pages and is very easy to read. Even if you don’t know too much about trading or investing, this would be a great primer to help bring you up to speed.
But that doesn’t mean the book is for amateurs, either. Don’t let Tom’s way of making things sounds quant fool you: Panic Proof Investing offers timeless advice from a Market Wizards. It could be a reference book that you re-read on an annual basis. I think that’s how I’m going to treat it.
The point I’m making is, no matter how experienced an investor or trader you are, the stories and lessons in Panic Proof Investing will be worth your time.
The book is structured wherein each chapter in the book is a different investing lesson. Most of the lessons are illustrated with a personal anecdote. Tom has been in the money management business for a long time, so you get the idea he’s seen most (if not all) of these lessons first-hand.
And whether you’re a trader or investor, or even just delegating your money management to someone else, this book will be of value to you. In fact, Tom makes the point that even if you don’t have an interest in investing you should at least learn how to find someone who will be a good stewart of your capital. And even then, you still have to deal with your own emotions as they relate to money, investing and YOUR net worth. Take responsibility.
There’s all kinds of insight like this throughout the book. But there’s one part of the book that’s especially thoughtful.
My Favourite Part of Panic Proof Investing:
While Panic Proof Investing is a well-written and easy to understand book, it has one additional feature that makes things even easier. At the end of the book, there’s a quick checklist that summarizes all of the lessons in a few pages.
This simple little addition makes the book much more valuable. I enjoy quickly skimming the lessons every now and then. Or I’ll read one a couple times each day to try and internalize it. The advice of Basso is worth listening to and these digestible nuggets are one of my favourite ways to keep the concepts he suggests top of mind.
Now, usually I try to find something to criticize about the book I’m reviewing. But in this case, I really can’t find any faults. I appreciated Tom’s perspective, and will look forward to reading this book again.
The one thing I will say is that you should NOT buy this book if you are looking for a specific trading system invented by Tom Basso. The principles shared here are much more valuable. With that in mind, let’s wrap this up, shall we?
Panic Proof Investing – The Final Word:
Tom Basso’s Panic Proof Investing is a great tread. He shares timeless market wisdom that can be of value to any trader or investor. So for that reason alone, I’d recommend you pick up a copy of Panic-Proof Investing on Amazon for yourself.
Of course, if you still want more information about this book, you’re welcome to watch the video book review below, to help you decide if Panic Proof Investing is the right book for you.