The Big Investment Lie
by Michael Edesess (9781576754078)

The Big Investment Lie
 
Michael Edesess
Release Date: 14 December 2006
Format: Paperback / softback
Pages: 336
Category: Finance
Publisher: BERRETT-KOEHLER
ISBN: 9781576754078
ISBN-10: 1576754073




In July 1971, Michael Edesess, having received a Ph.D. in mathematics, started his first job, performing theoretical work on the stock market at a major brokerage firm. Within months he realized something was askew. Professional investors couldn't even predict stock prices better than the nearest taxicab driver. Yet the entire business was based on the falsehood that they could. The Big Investment Lie is that an investor will gain by hiring professional advisors and managers to beat the market. Widespread acceptance of this lie allows an entire industry to prosper lavishly. Over a long career Edesess observed, often aghast, often as a deeply-placed insider, while the pitch for the Lie became more elaborate, and outlandish fees for a worthless service actually increased. In The Big Investment Lie, Edesess shows how to break free from this pervasive falsehood. By following his Ten New Commandments for Smart Investing, investors will maximize their long-run wealth and achieve their best possible financial future.

AUD $39.99

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