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Investment Portfolio Success

1. Better budgeting. 2. Buy fewer takeout dinners. 3. Top up RRSP before March 1st. 4. Pay closer attention to investments. If your New Year's resolutions list looks anything like this, keep reading for advice and book titles to get your finances on the right track—for good!

With over twenty year's writing experience, David Cruise and Alison Griffiths have written The Portfolio Doctor, an accessible investment guide filled with realistic advice and tips to improve your portfolio. For the last seven years this pair has written "The Portfolio Doctor," a Toronto Star investment column where they review and offer sound advice on countless investment portfolios, from $10,000 to the multi-million dollar diversified. David and Alison are also experienced investors who aren't afraid to admit they too have had financial blunders, as well as successes. And their advice for recovering from a financial downturn is wise—start a new plan, a new direction, and alter your expectations.

The Portfolio Doctor offers simple advice that even the most experienced investor can take to heart: Know yourself. Listen to your gut feeling. Know what you are investing in. Don't put too many eggs in one basket. The six chapters, as well as an Introduction and Afterword, offer advice in terms that are easily understood, complete with examples, scenarios, and thorough explanations.

Emphasis is placed on understanding your financial situation, stocks, mutual funds, and, more importantly, your investment statement. David and Alison tackle what they call "disclosure phobia": people are more inclined to discuss their sex life than they are their own financial situation. Discussing finances can strain marital relationships, and cause stress among friends and envy among siblings. They stress how important it is to communicate finances—it can be the key to survival when a spouse dies unexpectedly or when a family member is injured—and to understand book value, asset allocations, unit value, and distributions.

Too many investors do not fully understand the monthly statement that arrives, and are simply too intimidated to ask their advisor, broker, or friends for an explanation. The Portfolio Doctors suggests that "disclosure phobia afflicts us all and allows the investment industry to get away with confusing information and self-serving policies. Take charge! Turn to your nearest friend, look deeply into their eyes, and say, 'If you bare yours (investment secrets and problems), I'll bare mine.' And when sharing your experiences, it's good to remember this Portfolio Doctor Rule: Every person and every situation is different. What works for one individual or couple won't necessarily work for another. To read more about The Portfolio Doctor, click here or scroll down for a list of other finance and investment titles.