William Donoghue, The Donoghue Strategies (Bantam, 1989) William Donoghue made his name by making money, and having most of the people to whom he was a financial adviser make money, during the Wall Street crash of 1987. Scarcely a year and a half later, Donoghue codified the how-tos of what he did in The Donoghue Strategies. I'd probably never have come across this book had it not been so highly recommended by handicapping author Dick Mitchell in the last chapter of his book Commonsense Betting. I'm glad he pushed it, because The Donoghue Strategies combines the kinds of common sense that no one really thinks about with beginning approaches to very complex financial planning. I suspected some of the information might be out of date over a decade later, but that seems not to be the case; the products and strategies Donoghue recommends still seem to exist in today's marketplace. (I didn't, however, get around to figuring out how some of the tax laws have changed, so caveat lector, if you're closer to retirement than I; before jumping feet-first into Donoghue's tax-shelter plans, check the tax laws.) The book's main drawback is that it often seems as if Donoghue wrote it to hype his own services. As his products can be found in most major metropolitan newspapers and libraries, and he lists a number of them, it's pretty obvious he isn't necessarily trying to sell you things as to just get you to read them; still, there's an overuse of marketingspeak that can be a bit grating. That said, the stuff under the hood certainly seems sound enough, and it's worth a try. Donoghue's belief seems to be that no one has to retire poor. It's a very nice thought, and one worth checking into. *** ½
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