Cashing in on Wall Street’s Ten Greatest Myths
$16.20
Cashing In on Wall Street’s Ten Greatest Myths examines the most well-known of these, telling investors which are nonsense while uncovering core concepts that have always provided the safest path to building wealth. Wall Street veteran Richard Lackey begins each chapter by detailing a particular myth, explains its flaws, and then reveals how investors can use the kernels of truth in the myth to make profitable investment choices.
Author’s Introduction:
In Cashing in on Wall Street’s Ten Greatest Myths, we examine the myths and misconceptions that have been exploited by Wall Street to the ruin of millions. Each myth can be studied and appreciated independently to reveal its onerous nature and its inherently negative impact on long-term investor profitability, but there is greater value to be found when the subject matter is considered in aggregate. Either way, the picture clearly depicts a Wall Street that has been herding investors like bulls in Pamplona.
Our goal as long-term investors is essentially to improve both the proficiency and consistency of our returns. The first step is to understand the oxymoronic design of Wall Street. The theories espoused are predicated on a belief that investors cannot really do better than the general market over time, while simultaneously brokers spend hundreds of millions of dollars to convince you that their funds are most likely to outperform the market, while year after year the majority fail miserably.
Wringing their hands, they twist and tweak their models, all the time failing to recognize that it is the rationale behind their models that holds them back. Meanwhile, there has been a quiet but very prosperous group of investors who are raking in amazing profits in markets going up, down, and sideways. In Cashing in on Wall Street’s Ten Greatest Myths we tear apart the myths and uncover the core concepts that have consistently proved to safely build wealth.
Contents:
- Risk Is Diametrically Opposed to Reward
- Benchmarking Is the Best Measure
- Buy and Hold Always Works
- The Markets Will Always Go Up
- Mutual Funds Are Safe
- All Funds Are Created Equal
- IPOs Are Easy Money
- Options Are for Risk Takers
- Diversification Eliminates Risk
- Markets Are Efficient
Cashing in on Wall Street's 10 Greatest Myths By Richard L. Lackey pdf
| Author(s) | |
|---|---|
| Pages | 239 |
| Format | |
| Publication Year | 2005 |
5 reviews for Cashing in on Wall Street’s Ten Greatest Myths
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Bella Rubio (verified owner) –
I personally loved Lackey’s book. You can tell by reading it that he has “debunked” the myths we’ve all heard about for years. I give this book to my prospects and clients…….They are impressed that I am associated with a leader and NOT a follower! Keep writing!
Christopher Vasquez (verified owner) –
I sat down and read this book cover to cover. Having authored three books on similar subjects, I was delighted to see what a splendid job was done on explaining what are often difficult to understand topics. Richard did a great job right up front separating investor ideals from those of gamblers. A number of key insights that I discussed in my last book, “The Global Trader”, as well as in “CNBC 24/7 Trading” are explained with great lucidity here. Same thing goes for the debunking of much of the “asset allocation” crap and “efficient market” stuff. The writing is very clean and readable. I am going to recommend this book to everyone I know in the industry. Long may you wave!
Titan Silva (verified owner) –
The author has some views on investing I find intriguing. The idea that you should be able to make money no matter what the stock or bond markets are doing I find refreshing and great news for all investors. I imagine baby boomers and the average Amaerican sitting there holding their stock portfolio as the markets go through a 10% drop… a 20% drop… a 30% drop. How does one feel about their retirement safety when this happens? Not very well. This book shows how to build a portfolio of “alternative” investments and points readers down the path to making consistent money in other marketplaces and empowers readers to get away from the ‘promise’ of returns from the mindless buying and holding of stocks and bonds. It brings me comfort to know there are others thinking along this line. There are so many places to make money outside of stocks that are much less risky and the author points them out.
Reece Murphy (verified owner) –
Don’t waste your time with this. The Cat in the Hat is better written then this book.
Lucia Campbell (verified owner) –
great product