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Big Investment Lie : What Your Financial Advisor Doesn't Want You to Know by Michael Edesess (2007, Hardcover)

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About this product

Product Identifiers

PublisherBerrett-Koehler Publishers, Incorporated

ISBN-101576754073

ISBN-139781576754078

eBay Product ID (ePID)127445113

Product Key Features

Book TitleBig Investment Lie : What Your Financial Advisor Doesn't Want You to Know

Number of Pages312 Pages

LanguageEnglish

TopicPersonal Finance / Investing, Business Ethics, General, Industries / Financial Services, Investments & Securities / General

Publication Year2007

IllustratorYes

GenreBusiness & Economics, Psychology

AuthorMichael Edesess

FormatHardcover

Dimensions

Item Height0.9 in

Item Weight21 Oz

Item Length9.5 in

Item Width6.8 in

Additional Product Features

Intended AudienceTrade

LCCN2006-020543

TitleLeadingThe

Dewey Edition22

Reviews"Edesess speaks as only an insider could. The evidence is that all of the complex, expensive strategies sold by active money managers simply are not worth the cost. This book provides simple, effective guidelines for a successful investment experience for everyone." --David Booth, Chairman, Chief Executive Officer, President, and Chief Investment Officer, Dimensional Fund "With wit and accuracy, and based on years of personal experience, Edesess provides clear and easy advice that will help you add substantial value to your portfolio." --George Case, consultant and analytical software pioneer

Dewey Decimal332.6

Table Of ContentPreface Introduction: Excuse Me, Is This the "Real" World? Part I: How Much You Pay 1. The Beardstown Ladies versus the Professionals 2. The Extraordinarily High Cost of Investment Advice 3. The Outer Limits: Hedge Fund Fees 4. Taxes Down the Drain 5. Why Do We Give Golden Crumbs to Rich People? Part II: How Little You Get 6. Why Investment Professionals Can't Predict Markets 7. The Abject Failure of Professional Advisors and Managers 8. The Market Can Turn on a Dime 9. The Claims of Money Managers: "Smoking Our Brand Prevents Cancer" 10. Idle, Greedy Hands and Too Much Data Do the Devil's Work 11. The Simple Rules of Nobel Prize Winners 12. There's No Such Thing as a Free Lunch 13. Investment Genius or the Thousandth Coin? Part III: How You Are Sold 14. Effective Pitches to Sell the Big Lie 15. How Investors Delude Themselves 16. How Hedge Funds Operate and Are Sold 17. How Consultants and Money Managers Sell to Institutional Investors 18. Derivatives: The Good, the Bad, and the Ugly 19. The Modern Slippery Slope of Business Ethics Conclusion: The Ten New Commandments for Smart Investing Notes Glossary Bibliography Index About the Author

SynopsisThis expos? of regularized falsehood reveals the unfortunate truth behind the financial advisory industry ? that professional investors cannot, and never have been able to, beat market averages. Written by a well-credentialed insider, this book additionally provides detailed insights into where people should really invest their money., Michael Edesess learned early in his career that the investment industry's claims that it could beat market averages were simply not true. Professional investors, it seemed, could not predict stock prices better than the nearest cab driver. "The Big Investment Lie" helps readers cut through the thicket of hype in this perilous area, showing how widespread acceptance of the " lie" allows an entire industry to prosper on the small investor's dime. Edesess shows readers how to break free from this pervasive falsehood and pursue sensible investment policies. Individual chapters cover such subjects as the high cost of investment advice, effective pitches to sell the big lie, the hedge fund bonanza, derivatives, the " good old boys' club" of institutional investors, and much more. The final chapter, " Ten New Commandments for Smart Investing, " gives a simple, sound plan for everyday investors to maximize long-run wealth and achieve a secure financial future -- without the " help" of predatory professionals., An insider's account of how consumers are scammed by the investment advice industry, and how to avoid throwing your money away. The investment advice and management industry is built on fraud: the idea that professional advisors can predictably and consistently help you get a better rate of return on your investments. The industry sells us on this lie using manipulative tactics that are studied, refined, Wall Street-minted, Madison Avenue-packaged--and extraordinarily effective. Here, Michael Edesess exposes the shocking truth that, in fact, behind the success of nearly every prosperous investment professional lies not the ability to procure higher rates of return on investment for his or her clients but the ability to procure astoundingly high fees from those clients and nothing more. Through fascinating and sometimes humorous anecdotes and straightforward explanations of investment theory and scientific evidence, Edesess reveals just how badly investors are being scammed by The Big Investment Lie. He examines how the master salespeople that make up the industry sell their cleverly concocted distortions of truth--to the tune of $200 billion a year--to unsuspecting consumers who swallow them hook, line, and sinker. He then shines a spotlight on the true cost of the industry's useless advice, showing that a prudent independent investor, following a conservative strategy, can reap anywhere from forty percent to over one hundred percent more than an investor who falls for The Big Investment Lie. Detailing the Ten New Commandments for Smart Investing--practical advice for how, where, and when to invest your money to maximize wealth-- The Big Investment Lie provides the guidance you need to secure your financial future without throwing your hard-earned money away on the fraudulent investment advice industry., No professional investing advice is good advice. This hard-hitting book proves it with indisputable facts drawn from scientific research and the author's own thirty-five years of experience in the investment industry. Michael Edesess exposes "The Big Investment Lie"- that an investor will gain by hiring professional advisors to beat the market. He proves that no professional investment advisor or manager has ever consistently and predictably beat market averages, not even Warren Buffett. While The Big Investment Lie allows an entire industry to prosper lavishly, investors invariably lose when they hire professional help. Once you know the truth, you'll want to adopt Edesess's Ten New Commandments for Smart Investing, simple rules you can follow to invest, get a profitable return, and avoid squandering any more of your hard-earned dollars on bogus expertise., Michael Edesess learned early in his career that the investment industry's claims that it could beat market averages were simply not true. Professional investors, it seemed, could not predict stock prices better than the nearest cab driver. ""The Big Investment Lie"" helps readers cut through the thicket of hype in this perilous area, showing how widespread acceptance of the "" lie"" allows an entire industry to prosper on the small investor's dime. Edesess shows readers how to break free from this pervasive falsehood and pursue sensible investment policies. Individual chapters cover such subjects as the high cost of investment advice, effective pitches to sell the big lie, the hedge fund bonanza, derivatives, the "" good old boys' club"" of institutional investors, and much more. The final chapter, "" Ten New Commandments for Smart Investing, "" gives a simple, sound plan for everyday investors to maximize long-run wealth and achieve a secure financial future -- without the "" help"" of predatory professionals., No professional investing advice is good advice. This hard-hitting book proves it with indisputable facts drawn from scientific research and the author's own thirty-five years of experience in the investment industry. Michael Edesess exposes "The Big Investment Lie" that an investor will gain by hiring professional advisors to beat the market. He proves that no professional investment advisor or manager has ever consistently and predictably beat market averages, not even Warren Buffett. While The Big Investment Lie allows an entire industry to prosper lavishly, investors invariably lose when they hire professional help. Once you know the truth, you'll want to adopt Edesess's Ten New Commandments for Smart Investing, simple rules you can follow to invest, get a profitable return, and avoid squandering any more of your hard-earned dollars on bogus expertise.

LC Classification NumberHG4928.5.E33 2007