About the Author

John Train founded Train, Smith Investment Counsel and is chairman of Montrose Advisors, both of New York. His bestselling books on investing include The Craft of Investing, The Money Masters, The New Money Masters, and The Midas Touch. He has written several hundred columns for The Wall Street Journal, Forbes, The New York Times, Harvard Magazine, The Financial Times, and other publications. He is a part-time director of two independent government agencies reporting directly to Congress and of several emerging market mutual funds. He lives in New York, spends summers in Maine, and travels frequently to Europe, Asia, and South America.