Jackass Investing Don't do it Profit from it eBook Michael Dever
Download As PDF : Jackass Investing Don't do it Profit from it eBook Michael Dever 
Jackass Investing is as provocative as its title. Mike Dever systematically rips apart the conventional investment wisdom - myth by myth - then replaces it with a "return driver" based methodology that results in a "Free Lunch" portfolio - one that produces both greater returns and lower risk. More than ten years in the making, and supported by the twin pillars of extensive research and more than 30 years of trading experience, this book finally lays to rest the traditional investment paradigm.
Perhaps most importantly, the book is also highly practical. As a bonus, the author has created a companion web site that includes specific actions you can take to turn your "Poor-folio" into a truly diversified portfolio - one that can make you money in even the harshest environments. This is certainly the one book that will transform your way of thinking about money and how you invest it.
Jackass Investing Don't do it Profit from it eBook Michael Dever
This book actually comes in two parts. There is the book, which contains 20 well-written chapters, each of which is dedicated to debunking one widely-held myth (in the eyes of the author, at least) about investing. Then there is the actions section which you need to go to the author's website to get.I read the book from cover to cover over a few short sittings - it was hard to put down. The chapters are written in a provocative and compelling style. I often found myself staring over the top of the book thinking hard about my own investment situation and how the chapter I was currently reading cast a lot of things in a new light.
As the book went on, however, I grew increasingly dissatisfied because there was almost no actionable advice in the chapters themselves. "OK. So what I am doing is wrong. How do I fix it? Am I going to have to read another 10 books in order to act on this new insight?"
I needn't have worried. I went to the website with some trepidation, worried that in fact the book would turn out to be a teaser for some investment product promoted by the author, or that I would have to be constantly coming back to the website as I put a plan into action. Not so. The action section of the book is available as a PDF. What's more, it contains very specific instructions about how you can harness the return drivers mentioned in the book, and in many cases it gives a range of options depending on whether you have $50,000 or $5,000,000 to invest, or whether you like to trade actively or not. Certainly the author makes no secret of the fact that his company can help you with one particular aspect of the overall plan, but he also does not pretend he is the only one. He even names specific alternatives. One almost feels his mention of his own company is a disclaimer rather than an advertisement.
I strongly recommend this book, whether you are looking for plain entertainment, insights and ideas you can apply to your own investing, or a paint-by-the-numbers recipe on how to develop a highly diversified investment portfolio.
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Jackass Investing Don't do it Profit from it eBook Michael Dever Reviews
An excellent rational and critical review of what has become much of the accepted wisdom in "investing". I think the author represents a "thin slice" of the investing world by drawing the distinction between gambling and investing. Managing money is much more sophisticated than what is represented in retail finance. I highly recommend this work to anyone seriously interested in their financial and investing future.
His dissection of numerous myths was spot on and matched my own analysis. My own back testing had frequently shown that some of the generally accepted "wisdom" just did not seem to work in real life, but I was unable to explain why nearly as well as this book did. I found his case for balancing your portfolio across different economic drivers quite compelling. However, I wish he would have taken a step back in the last chapter to summarize this drivers. I get it that P/E ratio drives short term stock prices for instance, but the other drivers are not explained nearly as well and it is hard to walk away with a true grasp of the alternatives.
The online site is quite helpful and you can put together a plan by example, but as an Engineer by trade, I really want to understand better what makes these things tick.
This is a great book for every investor to read. It's quick, too the point, and challenges the many myths that hold back investors from success. You get what you want from the market and most of these myths could be debunked but simple consciousness. Investors simply don't want to think about what and why they are investing and this book really does a great job of challenging the thought process. A great investment in your time and this book will pay for itself in spades.
I just finished reading Jackass Investing for the second time just to make sure I didnt miss anything. The book discusses the 20 Myths we have been fed by Wall Street and the so called mainstream media experts.
Most of us have at one time or another felt that there is something wrong with all the supposed truths we have been taught in terms of investments but couldn't put our finger on it. Mr Dever's book not just puts words to these feelings but also gives the proofs of why these supposed truths are really just myths and actually dangerous myths for our pocketbooks. In addition he makes us feel that we can trust this mistrust we have in what Wall Street is feeding us and that we are not alone.
He makes it clear that diversification is the only long term approach to investing success but real diversification based on non-correlated assets and strategies as opposed to the usual suspects asset classes we have been taught which it turns out as we all discovered in 2008 were not diversified at all when that was most needed.
I really appreciated his explanation of why Bonds past performance may totally not be indicative of future performance and that in general past performance should not be taken as an indicator of future performance. He points out that if we can't justify why a strategy or asset should perform the same in the future that we should not be fooled by fantastic past performance results....
In the last chapter he gives a number of portfolios to choose from that are diversified both in assets and strategies. The reader has a choice of conservative, moderately aggressive and aggressive portfolios that have better returns than the S&P with half the worst drawdown of the S&P and after all drawdown (how much a portfolio drops from its latest high) is really the biggest concern in investing. Very high drawdowns cause people to trade in and out due to panic and do the wrong thing based on emotions. If the drawdown can be kept to a reasonable amount rationality can trump emotion which is neccessary for long term investment success.
The ability to use the last chapter's choices to create a real diversified portfolio without needing to hire an investment advisor means that this book will pay for itself in spades.....
This book actually comes in two parts. There is the book, which contains 20 well-written chapters, each of which is dedicated to debunking one widely-held myth (in the eyes of the author, at least) about investing. Then there is the actions section which you need to go to the author's website to get.
I read the book from cover to cover over a few short sittings - it was hard to put down. The chapters are written in a provocative and compelling style. I often found myself staring over the top of the book thinking hard about my own investment situation and how the chapter I was currently reading cast a lot of things in a new light.
As the book went on, however, I grew increasingly dissatisfied because there was almost no actionable advice in the chapters themselves. "OK. So what I am doing is wrong. How do I fix it? Am I going to have to read another 10 books in order to act on this new insight?"
I needn't have worried. I went to the website with some trepidation, worried that in fact the book would turn out to be a teaser for some investment product promoted by the author, or that I would have to be constantly coming back to the website as I put a plan into action. Not so. The action section of the book is available as a PDF. What's more, it contains very specific instructions about how you can harness the return drivers mentioned in the book, and in many cases it gives a range of options depending on whether you have $50,000 or $5,000,000 to invest, or whether you like to trade actively or not. Certainly the author makes no secret of the fact that his company can help you with one particular aspect of the overall plan, but he also does not pretend he is the only one. He even names specific alternatives. One almost feels his mention of his own company is a disclaimer rather than an advertisement.
I strongly recommend this book, whether you are looking for plain entertainment, insights and ideas you can apply to your own investing, or a paint-by-the-numbers recipe on how to develop a highly diversified investment portfolio.
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