Give Some Knowledge As A Present

Newcastle Herald

Thursday November 27, 2008

Noel Whittaker

CHRISTMAS is almost upon us once more, so you are probably frantically trying to shop to a budget, while choosing gifts that may be of some use to the recipients.

Books have long been my favourite, because they're reasonably inexpensive, can be personalised and, if chosen well, can bring lasting benefits. As usual, Ive done the rounds of the bookstores and found some titles that would be welcome in any Christmas stocking.

The big seller at the moment is Alice Schroeder's book The Snowball: Warren Buffett and the Business of Life and you will find copies on display everywhere.

It's a weighty tome at 960 pages, but would make great Christmas reading for anybody who is into finance.

The title of this biography is a metaphor for the steady accumulation of wealth that started when Buffett was six years old selling chewing gum door-to-door.

By the time he was 35 he was a millionaire, but he kept accumulating wealth until he became the world's richest man. It's not a step-by-step guide to wealth, but it is a fascinating story of a remarkable journey. RRP $49.95.

With the property market in the doldrums there should be some great buys around. It's a truism that the secret of making money in real estate is to buy well but, unfortunately, that is a hard skill to learn. It is not about applying a magic formula, tapping into so-called "secrets" of success or paying large amounts of money to listen to get-rich-quick spruikers. It is really a matter of asking the right questions.

This is why Margaret Lomas's latest book The 20 Must Ask Questions for Every Property Investor would be a great gift for anybody interested in buying property.

She lists all the questions you need to ask, while explaining why each one is critical to success. It's an easy read and well-priced at $29.95.

Climate change is the topic of the century, with governments everywhere flagging tax increases and other imposts to help save the planet. There is one major problem with so many conflicting opinions, it's hard to separate fact from the fiction.

That is why Bjorn Lomborg's book Cool It: The Skeptical Environmentalist's Guide to Global Warming is such a treat.

BHP Chairman Don Argus recommended the book to me, and then last month in Edinburgh I had the pleasure of hearing Lomborg speak.

He is arguably the most informed, and most humane advocate for environmental change in the world today, and in 2004 was named one of the 100 most influential people in the world by Time magazine.

He is not a climate-change denier, and does agree that much of global warning is man-made. But he is passionate about getting the facts right and ridicules much of the hysterical rubbish such as dwindling polar bear numbers that is currently making headlines.

His opinions on Kyoto alone are worth the price of this book, which should be in every household. RRP $39.95.

The perfect gift for anybody who owns an investment property is Saving Tax on your Investment Property, written by tax guru Julia Hartman and myself. RRP $29.95.

This book covers the complexity of taxation of rental properties in a simple way and includes dozens of little-known methods for reducing your tax bill.

A unique feature of this book is the 24-page chapter "What to Expect in an ATO Audit", which includes the full ATO audit questionnaire and the reasons the questions are asked. That chapter alone could be worth thousands to any property investor.

Robert Cialdini's book, Influence: The Psychology of Persuasion has been the leading book for sales and marketing people since it was first published in 1984.

Even though it's now 24 years old, its content is timeless and wholly relevant in today's tough economic conditions. He argues that influence is a science and covers six principles of ethical persuasion: reciprocity, scarcity, liking, authority, social proof, and commitment/consistency.

Each principle is backed by rigorous scientific testing and the book is full of easy-to-understand examples that are fun to read, as well as educational. RRP $29.95. It is available at Dymocks online if your bookstore doesn't have it in stock.

Noel Whittaker is a director of Whittaker Macnaught, a division of HBOS Australia. This advice is general in nature and readers should seek their own expert advice before making financial decisions. His email is noelwhit@gmail.com.

© 2008 Newcastle Herald

Back to News Index | Back to Home