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Cover of The Motley Fool Investment Guide by Tom & David Gardner

The Motley Fool Investment Guide

Tom & David Gardner · 1996

The most accessible, irreverent introduction to stock market investing ever published. Teaches you to open a brokerage account, evaluate a company, and build a portfolio in plain English with humor. It democratized investing for a generation by proving that Wall Street's complexity is partly a moat to keep regular people out. The jester's cap turned out to be smarter than the pinstripe suit.

The case against

The joking Fool voice that wins fans over wears thin at length, and by the final chapters even sympathetic readers admit it “gets a bit old.” A real shelf-life problem sits underneath the humor: the book’s headline strategy, the Foolish Four, is a signature idea the company itself “stopped recommending its Dow Dividend Yield strategy in 2000.” One reader tallies the filler directly, saying “the 100 pages were useless,” nearly forty percent of the book, while others estimate a quarter to a third goes to warnings about mutual-fund and brokerage overcharges. A longtime reader of the original edition says the newer material walks back the earlier case for indexing and argues stock-picking can beat the market after all, and ties that drift to the company’s current business, now “blitzing people with advertisements for their subscription services.” The financial-statement chapters hold up better than the strategy chapters around them.

Business & Investing · the Pro canon

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