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 listeners - 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:
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.
©2016 Spencer Jakab (P)2016 Gildan Media LLC
"As Pogo used to say, 'We have met the enemy and he is us.' In this delightfully written book, full of wonderful anecdotes, Spencer Jakab shows us how to win the investment game by avoiding the stupid choices that even 'smart' investors make." (Burton G. Malkiel, author of A Random Walk Down Wall Street)
A great investment book about why you can't seem to win: yes, it's you; yes, investing is non-intuitive and non-rational; yes, it's you against the best and the brightest and most well equipped; etc. But conversely, it's also about the zen of investing: reduce the friction of fees, taxes, reduce too much action and trades, keep it simple, less is more, etc. Worldly & wise advice.
Meanwhile, all presented in an entertaining and memorable manner. The Narrator does a great job conveying the intonations and humor of the text - truly a fun listen!
Valuable Information Interesting
Most of the information in this book is for the advanced beginning investor with a few added twists that would add to the knowledge of any investor.
Interesting listen. I am always interested in learning more about how the financial world works.
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