Key Takeaway
Market crashes are not disasters — they are payback time for patient investors who have done their homework. Stockpile shares of great companies at bargain prices during downturns, and the math of value investing rewards you enormously.
The Review
Phil Town's sequel to Rule #1 focuses on what to do during market downturns: buy more of your best stocks at even better prices. Town introduces the concept of 'stockpiling' — systematically buying great companies during market corrections using the same Four M framework from Rule #1. The book is built on Buffett's principle that market crashes are gifts for prepared investors. Town provides the specific tools and calculations for identifying when a stock is on sale and how much to buy.
Book Details
Payback Time by Phil Town
Published
2010
Pages
304
Rating
4.5/5
Copies Sold
300,000+
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