Rigged Money - Beating Wall Street At Its Own Game

Informationen zum Autor LEE MUNSON worked as a speculative tradervduring the dot-com boom and bust until he had an epiphany and began to question everything about his approach to investments. Realizing that Wall Street is a game that isn't always played to give investors a fair chance at winning, Munson went on to form an asset management firm, Portfolio LLC, in New Mexico that is ranked as one of the fastest growing firms in the country. A frequent guest on CNBC's The Kudlow Report , he is a contributor for TheStreet.com and is quoted in numerous financial publications such as the Wall Street Journal, SmartMoney, and the Kiplinger Report . Klappentext Today's financial landscape and what Wall Street doesn't want you to knowRigged Money is based on one simple truth: Wall Street needs money from Main Street, not the other way around. The financial industry has convinced the general public that investing across different asset classes is the only way to protect wealth, but this is an outdated rule that no longer applies.Since asset classes--small caps, large caps, international investments, gold, and bonds--now overlap when it comes to risk and volatility parameters, the diversification effect is gone. That's exactly what Wall Street doesn't want you to know--that the rules of the game have changed.* Risk Isn't Constant: Pie charts lie when it comes to accurately describing the risk of stocks and bonds* Dividends Are No Silver Bullet: They are designed to entice investors rather than to increase a company's value or your net worth* Buy and Hold is Dead: The financial world (and all the companies and securities in it) moves too quickly and is changing too often for this theory to hold true today* Gold Is Not an Investment: Gold is today's currency of fear, and this fear is driven by escalating government debtAn unflinching look at this new financial world, Lee Munson's Rigged Money arms today's investors with the simple, smart, and clear advice needed to level the playing field. Zusammenfassung Today's financial landscape and what Wall Street doesn't want you to know Rigged Money is based on one simple truth: Wall Street needs money from Main Street, not the other way around. Inhaltsverzeichnis Preface xi Acknowledgments xvii Part I Old School . . . of Thought Chapter 1 Buy and Hope: The Scam? 3 Blame the Dutch! 5 All the Wrong Moves? 7 Time Is Not on Your Side 14 My Dinner with Burton 19 Chapter 2 Lie of the Pie 23 Today's Outrage: Pie Town 23 The Original Pie Crust 26 Breaking Eggs, Then the Entire Kitchen 29 So, What Is Next? Risk Budgeting! 34 Part II Wall Street: The Set Up Chapter 3 Mayday 43 How the SEC Let the Dogs In 43 Mayday, We Have Soft Dollars! 45 Soft Dollars 47 Death of the Stockbrokers 49 Short History of Advice 51 Avoiding Fleas 55 Chapter 4 Research by the Pound 57 Research by the Pound 64 The Report Trail 67 Chapter 5 401(k): Gun to Your Head 71 How We Became Traders 72 The Mutual Fund Supermarket Is Born 76 No Stockbroker Is an Island 80 Chapter 6 Liquid Casino 87 Liquidity Is God 87 Why Dark Is In 94 When the Lights Go Out 97 Part III Surviving the Rigged Game Chapter 7 How Wall Street Sees You 101 Is That Really What You Want? 101 Taking a Strong Opinion Too Far? 104 Cramer Is Driving Me Crazy 106 How a So- Called Pro Fools Himself 108 Other Distorted Images 109 Chapter 8 ETFs: Fact or Fiction? 113 Selling the Sizzle 116 Getting Down to Earth 118 The Audit Part I: Sectors 119 The Audit Part II: Grain Wars 122 The Audit Part III: Junk Is Ga...

List of contents

Preface xi
 
Acknowledgments xvii
 
PART I Old School . . . of Thought
 
Chapter 1 Buy and Hope: The Scam? 3
 
Blame the Dutch! 5
 
All the Wrong Moves? 7
 
Time Is Not on Your Side 14
 
My Dinner with Burton 19
 
Chapter 2 Lie of the Pie 23
 
Today's Outrage: Pie Town 23
 
The Original Pie Crust 26
 
Breaking Eggs, Then the Entire Kitchen 29
 
So, What Is Next? Risk Budgeting! 34
 
PART II Wall Street: The Set Up
 
Chapter 3 Mayday 43
 
How the SEC Let the Dogs In 43
 
Mayday, We Have Soft Dollars! 45
 
Soft Dollars 47
 
Death of the Stockbrokers 49
 
Short History of Advice 51
 
Avoiding Fleas 55
 
Chapter 4 Research by the Pound 57
 
Research by the Pound 64
 
The Report Trail 67
 
Chapter 5 401(k): Gun to Your Head 71
 
How We Became Traders 72
 
The Mutual Fund Supermarket Is Born 76
 
No Stockbroker Is an Island 80
 
Chapter 6 Liquid Casino 87
 
Liquidity Is God 87
 
Why Dark Is In 94
 
When the Lights Go Out 97
 
PART III Surviving the Rigged Game
 
Chapter 7 How Wall Street Sees You 101
 
Is That Really What You Want? 101
 
Taking a Strong Opinion Too Far? 104
 
Cramer Is Driving Me Crazy 106
 
How a So- Called Pro Fools Himself 108
 
Other Distorted Images 109
 
Chapter 8 ETFs: Fact or Fiction? 113
 
Selling the Sizzle 116
 
Getting Down to Earth 118
 
The Audit Part I: Sectors 119
 
The Audit Part II: Grain Wars 122
 
The Audit Part III: Junk Is Garbage 125
 
The Final Audit: We Have a Winner! 127
 
The Virus Goes Airborne 130
 
Chapter 9 Gold Is Money 133
 
Historical Use of Gold 137
 
Gold Is Standardized 142
 
Control versus Live Free or Die 144
 
Brave New Non- Pegged World 146
 
Chapter 10 Options: Really? 149
 
Do You Want Them? 149
 
Practical Strategies 151
 
Chapter 11 Dividends: A Conundrum! 157
 
The Pitch 158
 
The Early Days 160
 
Growth Breaks Out 164
 
What's Next? 167
 
Chapter 12 The New Scam 169
 
How Did We Get Here? 170
 
History Repeats Itself 173
 
Further Down the Rabbit Hole 179
 
Credit Unions 185
 
Corporate Credit Unions 188
 
Afterword 191
 
Notes 193
 
About the Author 197
 
Index 199

Product details

• Authors: L Munson, L. Munson, Lee Munson, Munson Lee
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Hardback
• Released: 30.12.2011
• EAN: 9781118099681
• ISBN: 978-1-118-09968-1
• No. of pages: 224
• Subjects: Social sciences, law, business > Business > Business administration; Finanzmarkt, Finance & Investments, Finanz- u. Anlagewesen, Spezialthemen Finanz- u. Anlagewesen, Finance & Investments Special Topics