By Mike Clowes
Originally published in InvestmentNews, Volume 6, No. 50, December
23, 2002. Crain Communications Inc., 1155 Gratiot Avenue,
Detroit, MI 48207-2997. (313) 446-0450.
The holiday season
is a great time for books: giving them, receiving them or catching
up on those you’ve accumulated during the year and may now have
time to read.
wasn’t a banner year for books on financial planning, four that I
read this year stand out and may be worth reading or considering
The second book
I recommend is “Wall Street Secrets for Tax-Efficient Investing,”
by Robert N. Gordon and Jan M. Rosen (Bloomberg Press, 2002).
professionals talk about tax-efficient investing, but seems to me
that very few actually practice it in earnest. Perhaps that’s
because investing in a truly tax-efficient manner is
time-consuming and complex.
Chock Full of Wisdom
Mr. Gordon lays
out the rules and techniques of tax-efficient investing clearly
and concisely in the book. For example, I found the discussion on
the use of equity swaps, a potentially difficult subject, easy to
understand. He covers all the bases – from how and when to
harvest losses, to easing the tax bite on fixed- income
investments, to avoiding tax traps for closely held businesses….
reviewed in this article:
for Life: How to Build a Successful Financial Practice” by Karen
“The Managed Account Handbook" by Stephen D. Gresham.
“Capital Ideas: The Improbable Origins of Modern Wall Street” by
Peter L. Bernstein.
“Against the Gods: The Remarkable Story of Risk” by Peter L.
For the full
review, go to www.investmentnews.com (payment required).
|This article and
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information purposes only. They are not intended to be
an offer to engage in any securities transactions or to
provide specific financial, legal or tax advice. Articles may
have been rendered partly inaccurate by events that have
occurred since publication. Investors should consult
their advisers before acting on any topics discussed herein.