The Physician's Guide to Investing: A Practical Approach to Building Wealth by Robert M. Doroghazi and Dan W. French
Humana Press, Totowa, NJ, 2005, $34.95
According to this book's author, most physicians incorrectly assume that their investment capabilities are directly proportional to their wealth of medical knowledge. He cites Sir Isaac Newton’s poor track record of investing, quoting Newton as stating that he can "calculate the motion of heavenly bodies but not the madness of people."
Given that physicians are known as notoriously poor investors it's somewhat ironic that the primary author of this book is a physician. But Dr. Doroghazi, a cardiovascular specialist, has constructed an investing guide that is easy to understand and is written in a very direct and concise manner.
The Physician's Guide to Investing contains practical information for real-world application. Topics covered include return on an investment, property and mortgages, retirement savings, children's education, and investment strategies (stocks, bonds, art).
The primary strength of this text is its end-of-the-chapter summary sections, presented in separate, highlighted boxes using easy-to-digest bullet points. These bulleted statements synthesize the straightforward advice presented in the book and offer motivational tidbits, such as "you may seek the advice of others but, in the end, you must make your own investment decisions" and "keep a budget, it will save you money."
Consulting editor Dan French, the author of several finance textbooks, has positively influenced the content of the guide. The result is a concise, uncomplicated text that provides principles for a long-term investment strategy. The book clearly lays out the plan and philosophy behind sound investing. The rest is up to you.
By Dr. Douglas P. BeallAuntMinnie.com contributing writer
December 16, 2005
Dr. Beall is the chief of radiology services for clinical radiology at Oklahoma Sports Science and Orthopedics in Oklahoma City. He is also an associate professor of orthopedic surgery at the University of Oklahoma.
The opinions expressed in this review are those of the author, and do not necessarily reflect the views of AuntMinnie.com.
Copyright © 2005 AuntMinnie.com
