The Coffeehouse Investor

Bill Schultheis was a Smith Barney stockbroker who had an epiphany: the investing industry was designed to make brokers rich, not clients. He quit, wrote The Coffeehouse Investor, and distilled his philosophy into three principles: save, invest in a diversified portfolio of index funds, and get on with your life. The 'coffeehouse' metaphor represents spending your time on what matters — friends, family, passions — instead of obsessing over your portfolio.

The book is short, warm, and persuasive. Schultheis makes the case that the average investor who puts their money in a simple portfolio of index funds and ignores Wall Street noise will outperform 80% of professional money managers over time. The updated edition incorporates modern data while maintaining the original's charm and simplicity.