When I heard that Phil Town’s new book Payback Time would be released this week during our focus on abundance, I immediately asked Paul if he would interview him for the blog from “the Learning Strategies perspective.” He jumped at it, and he recorded the conversation yesterday.

You can listen to the full interview right here. 

Payback Time: Making Big Money is the Best Revenge shows how to buy and hold a stock. Phil says the most critical part of buying and holding is making sure you are buying a good business ON SALE. “You’ve got to know what the business is worth and buy it for a lot, lot less if you want your long term investing results to be spectacular – like 25% a year kind of spectacular. To get returns like that, you have to buy right.”

Is the book right for you? Read the first two chapters right here online, free of charge, and then decide to get the book. I love Phil’s attitude of abundance by giving out the first two chapters: 1) How the Wealthy Use Down to Go Up and 2) Mutual Fund Investing Makes No Sense.

Phil’s book is available at most any bookstore. You can also order Payback Time online at Amazon, Barnes & Noble, and Borders. It’s definitely worth a look.

Here’s the super-good news: First, $14 for the book is a more-than-fair price. But, he also wants to give you more if you order your book right away:

• * You can listen to a 4-week teleseminar series based on the book that Phil will lead. I will be listening to this program along with you.
• * You are also invited to attend a seminar that he is doing around the country at no charge. I don’t have the dates or locations, so I can’t commit to attending the seminar.

There are three steps to get the 4-week teleseminar and the live seminar:

1. Buy his book from one of the online book retailers. You can use the links above.
2. Go to his website and register. Simply follow this link.
3. Forward the email receipt you receive from the online book retailer to support@PayBackTime.com. Then be patient. When they have the teleseminar and seminar information ready, you will hear back from them.

Here is Phil’s bio:

Today Phil Town is a self-made multi-millionaire and one of America’s most sought-after speakers on investing. But Phil isn’t your typical Wall Street investment guy. In fact, his journey to this rather enviable position is anything but typical.

Outdoorsy and adventurous, Phil completed college then served three and a half years in the U.S. Army as a Green Beret. Returning from the Vietnam War, Phil worked as a river rafting guide in the Grand Canyon for several years. Basically living out of a sleeping bag, Phil subsisted at the poverty level, combining his seasonal income from guiding with unemployment wages.

Then one day in 1980, Phil’s life changed forever. Guiding trustees from the educational program “Outward Bound” down the nastiest rapid on the Colorado River, Phil made split-second decisions that saved them from a whitewater disaster. A grateful and financially astute client returned the favor by taking him under his wing and teaching him investment strategies based on Warren Buffett’s famous first rule of investing: Don’t lose money. An apt pupil, Town began to apply those investment principles and eventually became a multi-millionaire.

In 2006, Phil successfully captured his personal financial strategy in his first book, RULE #1, creating an instant New York Times best seller. With his friendly, common sense approach, Phil gave readers a guide to stock trading that nearly any investor, new or veteran, could readily apply.

Now, four years later, Phil Town has written a new book: Payback Time. While RULE #1 was designed with stock trading in mind, Payback Time speaks to the long-term investor – especially mutual fund investors. As Phil explains, the sad truth is that most people who invest in mutual fund are pinning their hopes on a hopelessly underperforming institution. Research indicates that only 4 percent of mutual fund managers consistently beat the S&P 500 index over the long haul. This means that 96 percent of mutual fund investors see less than 8% annual returns on their hard-earned money.

To combat this failed approach, Payback Time delivers the time-tested principles of “stockpiling” – an investment strategy used consistently by some of the world’s best and brightest investors, including Buffett, to turn a down market into an “up” portfolio.

Designed specifically to empower the “little guy,” Payback Time delivers a step-by-step guide to understanding and applying the fundamentals of stockpiling. Phil’s approach helps any level of investor learn how to capitalize on today’s volatile market and potentially create significant personal wealth.

Phil Town addresses more than 500,000 people annually and has shared the stage with such noted public figures as Presidents Bill Clinton and George W. Bush, First Lady Laura Bush, General Colin Powell, master motivator Zig Ziglar, and “America’s Mayor” Rudy Giuliani. Phil is a regular guest on CNBC’s “The Millionaire Inside,” alongside fellow wealth experts like David Bach, Barbara Corcoran and Loral Langemeier, and frequently appears on as an investment expert on both MSNBC and CNBC.

If you’re intrigued by Phil, consider getting both of his book together, Rule #1 and his new Payback Time.

Pete