Heads I Win Tails I Win

Author: Spencer Jakab
Publisher: Penguin
ISBN: 0399563202
Format: PDF
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"Let's start with the bad news first- Most investors' results bear very little resemblance to the long-run returns touted in the glossy marketing materials from financial services firms. What's more, most of them have no idea just how massive that difference actually is. But, there's reason for hope-Investing is a winner's game with excellent long-term odds once you stop shooting yourself in the foot. Since leaving his job as a top-rated stock analyst to become an investing columnist, Spencer Jakab has watched his readers-and his family, friends, and colleagues-make the same mistakes again and again. He looks at all the typical advice, from the clearly risky to the seemingly safe, to show you how various strategies are undermining even the savviest investor's returns. The paths that lead to a seven figure nest egg are surprisingly few, but he reveals reliable strategies that can multiply a typical retirement saver's nest egg fourfold or more. Jakab combines wise storytelling with a knack for doing the math on complicated ideas to explain why you shouldn't buy Apple, care about tomorrow's big IPO, or even try to act on the belief that a recession is around the corner. He also explains why you should never trust a World Cup predicting octopus and why you shouldn't invest in companies with an X or Z in their names - information more useful than it sounds, and every bit as fun. Whatever your level of expertise, Jakab's Heads I Win, Tails I Winwill be entertaining, enlightening, and almost certainly profitable."

Heads I Win Tails I Win

Author: Spencer Jakab
Publisher: Penguin
ISBN: 0399563210
Format: PDF, Mobi
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INVESTING IS ONE OF THE FEW AREAS IN LIFE WHERE EVEN VERY SMART PEOPLE LET HOPE TRIUMPH OVER EXPERIENCE According to Wall Street Journal investing colum­nist Spencer Jakab, most of us have no idea how much money we’re leaving on the table—or that the average saver doesn’t come anywhere close to earning the “average” returns touted in those glossy brochures. We’re handicapped not only by psychological biases and a fear of missing out, but by an industry with multimillion-dollar marketing budgets and an eye on its own bottom line, not yours. Unless you’re very handy, you probably don’t know how to fix your own car or give a family member a decent haircut. But most Americans are expected to be part-time fund managers. With a steady, livable pension check becoming a rarity, we’ve been entrusted with our own finances and, for the most part, failed miserably. Since leaving his job as a top-rated stock ana­lyst to become an investing columnist, Jakab has watched his readers—and his family, friends, and colleagues—make the same mistakes again and again. He set out to evaluate the typical advice people get, from the clearly risky to the seemingly safe, to figure out where it all goes wrong and how they could do much better. Blending entertaining stories with some sur­prising research, Jakab explains ·How a typical saver could have a retirement nest egg twice as large by being cheap and lazy. ·Why investors who put their savings with a high-performing mutual fund manager end up worse off than if they’d picked one who has struggled. ·The best way to cash in on your hunch that a recession is looming. ·How people who check their brokerage accounts frequently end up falling behind the market. ·Who isn’t nearly as good at investing as the media would have you think. He also explains why you should never trust a World Cup–predicting octopus, why you shouldn’t invest in companies with an X or a Z in their names, and what to do if a time traveler offers you eco­nomic news from the future. Whatever your level of expertise, Heads I Win, Tails I Win can help you vastly improve your odds of investment success. From the Hardcover edition.

Even Buffett Isn t Perfect

Author: Vahan Janjigian
Publisher: Penguin
ISBN: 1440631476
Format: PDF, ePub, Docs
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A contrarian look at how Warren Buffett thinks about investing and related issues Warren Buffett is the most successful and revered investor of all time. His ability to consistently find undervalued companies has made him one of the world’s richest men. Despite many previous books about him, it’s rare to find an objective assessment—one that praises him when appropriate, but also recognizes that even Buffett makes mistakes. For instance, is he right to call for higher taxes and an end to earnings guidance? Should Buffett fans copy his avoidance of technology stocks? In this penetrating look at how Buffett thinks, Vahan Janjigian shows readers how to learn from the master’s best moves while avoiding strategies that don’t apply to small investors. And he explains Buffett’s favorite valuation methodology, the discounted cash flow model, and how it can significantly reduce the odds of overpaying for a stock.

Big Money Thinks Small

Author: Joel Tillinghast
Publisher: Columbia University Press
ISBN: 0231544693
Format: PDF, Docs
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Investors are tempted daily by misleading or incomplete information. They may make a lucky bet, realize a sizable profit, and find themselves full of confidence. Their next high-stakes gamble might backfire, not only hitting them in the balance sheet but also taking a mental and emotional toll. Even veteran investors can be caught off guard: a news item may suddenly cause havoc for an industry they’ve invested in; crowd mentality among fellow investors may skew the market; a CEO may turn out to be unprepared to effectively guide a company. How can one stay focused in such a volatile profession? If you can’t trust your past successes to plan and predict, how can you avoid risky situations in the future? In Big Money Thinks Small, veteran fund manager Joel Tillinghast shows investors how to avoid making these mistakes. He offers a set of simple but crucial steps to successful investing, including: · Know yourself, how you arrive at decisions, and how you might be susceptible to self-deception. · Make decisions based on your own expertise, and do not invest in what you don’t understand. · Select only trustworthy and capable colleagues and collaborators. · Learn how to identify and avoid investments with inherent flaws. · Always search for bargains, and never forget that the first responsibility of an investor is to identify mispriced stocks. Patience and methodical planning will pay far greater dividends than flashy investments. Tillinghast teaches readers how to learn from their mistakes—and his own, giving investors the tools to ask the right questions in any situation and to think objectively and generatively about portfolio management.

Your Money and Your Life

Author: Robert Aliber
Publisher: Stanford University Press
ISBN: 9780804776417
Format: PDF, ePub
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Your financial health is more than a mere collection of debits and credits on a balance sheet. In fact, the numbers on a financial statement represent a series of decisions that, if made strategically, can ensure that each of us maintains our desired standard of living at every age and stage of life. Many people think that key financial choices are too complicated to make on their own. However, with the right information and guidance, we can all secure our own financial future. Your Money and Your Life is more than your average guide to financial planning and retirement. Acclaimed author and speaker Robert Z. Aliber helps readers to make efficient and effective financial decisions at key moments throughout their lives, such as where to go to college; if and when to buy a home; how much insurance, if any, to buy; how to manage savings and retirement; when the time is right to approach a professional advisor; and how to proceed with estate planning. With an eye toward the issues that are most pressing in today's economy, Aliber clearly explains the sophisticated concepts that underpin everyday money management—with the goal of making this guide the go-to reference in your financial planning library, regardless of your age or wealth. Readers of this book will come away with the sense that Aliber is their own financial planner, offering strategies that will help to guide them toward security in the present and the future. Your Money and Your Life is filled with examples to which readers will be able to relate, as well as checklists of "actionables" to help make their plans realities.

Lobbying and Policy Change

Author: Frank R. Baumgartner
Publisher: University of Chicago Press
ISBN: 0226039463
Format: PDF, Kindle
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During the 2008 election season, politicians from both sides of the aisle promised to rid government of lobbyists’ undue influence. For the authors of Lobbying and Policy Change, the most extensive study ever done on the topic, these promises ring hollow—not because politicians fail to keep them but because lobbies are far less influential than political rhetoric suggests. Based on a comprehensive examination of ninety-eight issues, this volume demonstrates that sixty percent of recent lobbying campaigns failed to change policy despite millions of dollars spent trying. Why? The authors find that resources explain less than five percent of the difference between successful and unsuccessful efforts. Moreover, they show, these attempts must overcome an entrenched Washington system with a tremendous bias in favor of the status quo. Though elected officials and existing policies carry more weight, lobbies have an impact too, and when advocates for a given issue finally succeed, policy tends to change significantly. The authors argue, however, that the lobbying community so strongly reflects elite interests that it will not fundamentally alter the balance of power unless its makeup shifts dramatically in favor of average Americans’ concerns.

Juggling with Knives

Author: Jim Jubak
Publisher: PublicAffairs
ISBN: 161039481X
Format: PDF, Mobi
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In his new book, investment expert Jim Jubak explores the “new normal” of market volatility. With remarkable insights into the zeitgeist of financial markets and the economy, Jubak combines the big macro trends with the more mundane aspects of life to depict why volatility is here to stay, why things are not going to get any calmer soon, and how you can make investing decisions to profit off this new reality. He presents a unified picture that extends far beyond a narrow view of financial markets, exploring the consequences of using global central banks—the Federal Reserve, the Bank of Japan, the People's Bank of China, and the European Central Bank—as cash machines; the debt model of growth now used worldwide; and the demographics of aging and the coming war between the young and the old. He also looks at social trends including the anxiety of affluence, particularly the mismatch between the guaranteed cost of education and the uncertainty of future earnings; the real estate “barbell” and the consequences viewing a home as a financial asset and not simply a place to live; and energy, climate, water and food insecurity. Jubak's mission is to teach investors how to stay sane when people think the sky is falling. In showing what is causing all of this volatility, he provides practical solutions for how you can smartly respond, build a portfolio, and profit.

How to Think about Money

Author: Jonathan Clements
Publisher: Createspace Independent Publishing Platform
ISBN: 9781523770816
Format: PDF, ePub
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There are those who think the goal of investing is to beat the market and amass as much wealth as possible, that street smarts and hard work ensure investment success, and that the road to happiness is paved with more of everything. And then there are those who get it.Want a more prosperous, less stressful financial life? Jonathan Clements, longtime personal finance columnist for The Wall Street Journal, is here to help. His goal: to provide readers with a coherent way to think about their finances, so they worry less about money, make smarter financial choices and squeeze more happiness out of the dollars that they have. How to Think About Money is built around five key ideas: Money can buy happiness, but we need to spend with great care. Most of us will enjoy an extraordinarily long life--and that has profound financial implications. We are hardwired for financial failure, so sensible money management takes great mental strength. We need to bring order to our financial life--by focusing on our paycheck, or lack thereof. If we want to add to our wealth, we should strive to minimize the subtractions."Now why didn't I think of that? That's what you'll ask yourself after you read Jonathan Clements's fine new book. Its beauty lies in the commonsense and wisdom that is summed up in just five simple steps that will help you to earn your financial independence. Easy to understand, essential to follow."--John C. Bogle, founder, The Vanguard Group"Jonathan Clements brings his intelligence, insight and commonsense to How to Think About Money, which is packed with wisdom and great guidance. Read it and reap the rewards in the years and decades ahead."--Eric Tyson, author of Personal Finance for Dummies and Investing for Dummies "How to Think About Money is financial feng shui --a blueprint for harmonizing all the aspects of personal finance into a balanced way of approaching and managing money. I found myself measuring my own attitudes and beliefs against the yardsticks in Jonathan Clements's book, and was pleased to find that we're on the same page. Anyone who feels overwhelmed by the challenges of today's world can benefit from Clements's advice on how to make smart financial choices, as well as how to develop, in his words, a 'coherent way to think about their financial life'."--Janet Bodnar, editor, Kiplinger's Personal Finance magazine"Concise, important and true. Jonathan Clements provides you a path not just to better finances, but to a better life."--Terry Burnham, finance professor, Chapman University, and author of Mean Markets and Lizard Brains"Jonathan Clements writes so well and thinks so clearly that even financial planning, saving, and wise decisions are almost fun to think through with him as our guide."--Charles Ellis, author of Winning the Loser's Game"In How to Think About Money, Jonathan Clements, one of the premier financial writers of our times, provides readers with a roadmap for a successful financial life. It's an easy read that can result in changing the way readers look at investing and life. Read it and reap."--Mel Lindauer, Forbes.com columnist and co-author of The Bogleheads' Guide to Investing and The Bogleheads' Guide to Retirement Planning"Jonathan Clements is one of the greatest financial consumer advocates of our time, not only because of his emphasis on a practical and commonsense approach to personal finance, but because his message is delivered in a welcoming, easy-to-understand manner. That approach moves his readers to take the most important step toward winning in the personal-finance world--taking ownership of one's financial life and following that with action."--Peter Mallouk, president of Creative Planning and author of The 5 Mistakes Every Investor Makes and How to Avoid Them

Loaded

Author: Sarah Newcomb
Publisher: John Wiley & Sons
ISBN: 1119258324
Format: PDF
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Praise for LOADED "LOADED is that rare resource which somehow captures both theoretical and practical wisdom about money, personality, and life. Your views – and actions – with money will be much improved after reading the wonderful advice in LOADED." —James Grubman, PhD, author of Strangers in Paradise: How Families Adapt to Wealth Across Generations and co-author of Cross Cultures: How Global Families Negotiate Change Across Generations YOUR MOST VALUABLE ASSET...IS YOU. LOADED WILL TEACH YOU HOW TO MAKE THE MOST OF IT. Based on decades of research and years of hands-on experience with people from all walks of life, LOADED is a must-read for anyone who finds themselves caught between the desire to thrive financially and the complex emotions and conflicting priorities that money so often brings to our lives. Inside, you will learn to: Check your stories. Pinpoint and change beliefs that hold you back. Choose your strategies. Learn how to align your money with your needs. Cultivate your value. Put your unique resources to use and earn more. Deeply researched, yet written in an approachable, conversational tone, LOADED offers insight into how your personal experiences have shaped your financial attitudes, and how you can build a healthier relationship with money.

Empire of the Fund

Author: William A. Birdthistle
Publisher: Oxford University Press
ISBN: 0199398569
Format: PDF, ePub, Mobi
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Empire of the Fund is an exposé and examination of the way we save now. With the rise of the 401(k) and demise of the pension, the United States has embarked upon the richest and riskiest experiment in our financial history. Over the next twenty years, nearly eighty million baby boomers will retire at a pace of ten thousand per day. The hypothesis of our experiment is that millions of ordinary, untrained, busy citizens can successfully manage trillions of dollars in a financial system dominated by wealthy, skilled, and powerful financial institutions, many of which have a record of treating individual investors shabbily. The key tools in our 401(k) plans and individual retirement accounts are mutual funds, which have ballooned to hold more than $16 trillion. But these funds pose dangers to our savings in three ways: through structural vulnerabilities that give money managers the incentive to focus on marketing over investing; through the very human challenges of managing our savings decades into the future; and through the peril of financial professionals behaving badly, to our economic harm. Though Americans often hear of the importance of low fees in fund investing, few are aware of the astonishing panoply of ways that some financial advisers have illegally diverted money out of mutual funds: from abetting hedge funds to trade after the legal deadline, to inflating the assets on which they are paid a percentage, to paying kickbacks for brokers to sell their funds. This book will forewarn and forearm Americans by illustrating the structural flaws, perverse incentives, and litany of scandals that have bedeviled mutual funds. And by setting forth a pair of policy solutions to improve Americans' financial literacy and bargaining power, it will also attempt to safeguard our individual financial destinies and our nation's fiscal strength.