Vern Hayden, CFP, is a frequent guest on CNBC. Unlike most guests he consistently provides useful down-to-earth advice to viewers. He has come to the realization that blind buy-and-hold investing is no longer a valid approach. He now believes "that radical market fluctuations sometimes demand radical action...there are not only times when you shouldn't buy and hold funds, but also times when you'll need to adjust your allocation." It's refreshing to hear the "truth" about buy and hold from an investment professional rather than get the party line from the always-bullish Wall Street crowd.

Hayden's book, his first, hits the nail on the head and clearly delineates a ten-step investing plan, each of which is explained in a separate chapter. His ten principles include:
-Don't Lose Your Principal
-Set Your Own Benchmark
-Buy and Watch Your Portfolio
-Have an Investing Defense and Offense
-Consider Risk And Return
-Keep Learning
-Avoid Sector Funds
-Track Your Performance
-Be a Professional or Get One

He methodically leads the reader through the key steps needed to become a successful investor. Hayden supplements his advice with appropriate exhibits to emphasis his key points.

In conclusion, Hayden has written a comprehensive, step-by-step investing approach that can greatly benefit serious investors - if they not only read his book but also actually do what he says. Over the past 40 years I've read over 500 books on investing, and this one makes my "top 10" list for its practical advice. I urge you to read this book and benefit from the wisdom of a "true" Wall Street" professional.

This is a good book for learning both do it yourself asset allocation and for setting reasonable goals for one's portfolio. Hayden stresses knowing your risk tolerance first rather than looking for returns first. As Will Rogers said: "I'm more concerned with the return of my money than the return on my money."