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Having spent 35 years in the investment business in both Toronto and London, Larry Bates knows a thing or two about how the banks operate and how to be a savvy investor. This is what inspired him to write his book Beat the Bank, which is all about how to beat the bank at their own game…namely getting rich off you, not helping you get rich!
In his book, Larry provides insight into how the investment industry in Canada works, and how best to achieve higher returns through the use of better investment products. In other words, it’s time to stop investing in high-fee actively-managed mutual funds from the bank in favour of index funds or index ETFs using a robo-advisor or self-directed investing using a discount brokerage.
Seeing as this podcast is in its 10th season and I’ve interviewed hundreds of authors and money experts on this show, I’ve gotta say that if you’re Canadian and you’re looking for a good intro to investing book, this is it! This is my new go-to recommendation (in addition to my other favourites like Millionaire Teacher by Andrew Hallam, Wealthing Like Rabbits by Robert Brown, and The Value of Simple by John Robertson). If you want to start your investing journey and want a non-dry book on investing in Canada, you need to grab this book. You will not be disappointed!
Also, don’t forget, I’m giving away a copy of his book! To enter to win you just have to visit jessicamoorhouse.com/contests.
Resources
- Beat the Bank by Larry Bates
- Find your T-Rex Score
- Larry’s top investment picks for 2020
- Beat the Bank webinar
- Larry’s top resource recommendations
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