GIVEAWAY: A Copy of “The Indomitable Investor” by Steven Sears

September 19, 2012

I’m trying to get more consistent with AFM giveaways. This is the second giveaway on the new every-other-week schedule.

I posted this giveaway earlier this year, then had problems with my website and never followed up on it. So, let’s give it another go around.

If you’d like to take part in this giveway, just leave a comment below detailing what you feel was the dumbest investment mistake you ever made. Since this giveaway will probably foster some discussion, I will only have one rule this time:

You must be a resident of North America (I won’t ship internationally).

I’ll randomly-select a winner Friday morning. Good luck!

24 responses to GIVEAWAY: A Copy of “The Indomitable Investor” by Steven Sears

  1. Bought into a small business in 2008. Have been trying to escape ever since.

  2. At my first job after college, I didn’t contribute to my retirement plan because I thought I didn’t “understand enough to invest.”. I wish I had known that starting to contribute early was really important and that I should just jump in – I plan to pass this knowledge on now to all younger folks in my life. I’m excited about the giveaway – thanks for having it!

  3. Bought a house with my parents in early ’05 thinking it would quadruple in price by the time I hit 30. That obviously did not happen…

  4. Reminded me of Monty Python’s Black Knight . . . “I’m invincible!” Sounds like a good text and I could use a good book for camping this Fall.

  5. Probably the dumbest investment mistake I made that will come back to bite me is not buying long term care insurance when I was younger and it was cheaper. Only time will tell…

  6. Two words: Day. Trading.

  7. Getting out of my 13%+ certificates of deposit in high school to go into an IDS mutual fund my parents’ insurance agent was hawking. DUMB, DUMB, DUMB!!

  8. Would love to give this a read.

    Dumbest investing mistake way buying into front-loaded mutual funds (5.75%!) suggested by a financial advisor — now I realize the front load was paying their bills, and not helping me at all!

  9. When I started my first full time job in 1980 interest rates were very high, thus I did not invest in stocks for many years, missing a lot of gains over the years.

  10. I have two:
    1. Starting out with a commission based advisor who sold loaded mutual funds.

    2. Thinking I needed to pay a fee only financial advisor before I made a switch to Vanguard after financial forums told me I didn’t need to. After all was said and done, I could have done it alone.

  11. I didn’t roll over the $3000 in my IRA from my first job–somehow a trip to Mazatlan seemed like the better plan. Ah, to be 23 and DUMB again!

  12. I purchased a $10,000 General Motors Bond which became basically worthless when GM filed bankruptcy.

  13. Where do I start? (live and learn… you’d think I’d be the smartest man alive by now)
    -Bought Variable Universal Life Policy while in college before I had any IRA/401K and still 10k in debt (no assets)
    -5k investment in 2002 (small business – got smaller, e.g. zero)
    -20K in real-estate in 2006 (need I say more?)
    -Bought a mini-van with 70k mi without taking it to a mechanic to look it over (cost 2.3k to get it working again)
    -Bought a foreclosure and sunk 25% more into it to get it fixed up – worth only a 7% increase.

  14. Really, I cannot think of any. Seriously.

    I fully contribute to 401(k) plans, invest in index funds, don’t trade individual stocks. Heck, I even sold a boatload of silver coins when the Hunt brothers tried to corner the market.

    Sorry, man, I got nothing.

  15. Not automating my investments until I was in my thirties. I’ve made many of the mistakes mentioned above as well, variable universal life, paying “my broker” commisions, and rolling over my tax free tsp money to travel, but automating and budgeting for it has made the most progress for me!

  16. getting caught up in the tech bubble in late 90’s and investing in companies such as Vdot or something like that. Wasted several grand. Another mistake is holding onto losing stocks too long. Learn to let ’em go.

  17. I need to give this book a read. Sounds good. Big mistake,we worked with a broker that really didn’t care about us,only lining their own pockets.We lost a lot of $ in our investments due to that. This brokerage house did not honor our requests.

  18. I think that my worst investment mistake was investing in Savings Bonds for my daughters’ college funding (pre 529). I should have looked harder for a mutual fund or something that would have yielded more. But the govt was pushing Savings Bonds really hard back then for Federal employees, and it was an automatic withdrawal from my check. Low yields and lots of tracking individual bonds. Oh well.

  19. There have been a couple.

    I invested in CML Group back when I first started to buy stocks. They made the NordicTrack exercise machine(s) among a couple other enterprises (garden tools and something else). It taught me that some things are cheap (and can get cheaper) with good reason. I think NordicTrack name is still out there having been purchased at the bankruptcy price back in the 90s.

  20. Bought my condo back just before the bubble burst. Still living there, but the last ones were selling for 25% less than I paid. Currently two are on the market for less than I paid, but that is the developer trying to get out from the lawsuits.

  21. @#19 Sam & all US savings bond holders: I don’t know if you still have bonds, but go to and download their saving bond wizard. Here’s a direct link, it’s under “tools”

    I have to say the I-bonds we bought in 2000 have been a good investment. Timing is everything…My goal is to cash them all in when #3 in on his last year of college 9 years from now (if our income is lower at that point.) Otherwise we’ll hold them as long as we can to not get whacked on finally paying tax on the interest…

  22. In 1999 I invested in a generic cereal (breakfast food) company in the Alsace region of France–it was coming out of receivership [first clue]. They were selling ‘store brand’ generics to the large chain super markets in Europe [second clue]. The business did not have a differentiating attribute; it did not have purchasing leverage; it had to lot up a fixed rate contract before it could lock in costs; packaging for each customer was different; shipping had local issues and ‘cereal’ was not as popular as a breakfast food as in the US. All-in-all a way to lose money quickly!

  23. It wasn’t me but it was the trust that I now handle…investing too heavily in real estate. Haven’t made a thing for years. Everything is just being written off.

    lkish77123 at gmail dot com