the investment answers (special kindle edition with interactive table of contents and built in audiobook features)

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Combining timeless secrets on making an keeping money with confessions of a mutual fund industry veteren, this essential bestselling and award winning, newly reissued book dispels many of the myths that Wall Street has been trying to promote to the unsuspecting public over the past twenty years.

Most investment management professionals, according to this book, just don't get it” ... and continues to ignore—indeed, to deny—the obvious and profound conflicts that are manifest in this industry. Washington is complicit as well. Indeed, although many of these ideas have been presented verbatim to Congress, lawmakers continue to look out less for the average consumer and more for the financial services industry.

: “ . . . mutual fund expenses, plus all those fees paid to hedge fund and pension fund managers, to trust companies and to insurance companies, plus their trading costs and investment banking fees . . . totaled about $528 billion in 2007.
These enormous costs seriously undermine the odds in favor of success for citizens who are accumulating savings for retirement. Alas, the investor feeds at the bottom of the costly food chain of investing, paid only after all the agency costs of investing are deducted from the markets’ returns . . .
Once a profession in which business was subservient, the field of money management has largely become a business in which the profession is subservient. Harvard Business School Professor Rakesh Khurana is right when he defines the standard of conduct for a true professional with these words: ‘I will create value for society, rather than extract it.’ And yet money management, by definition, extracts value from the returns earned by our business enterprises.”

This book also contains the 18 Golden Rules of Money containing timeless classic advice on achieving and preserving wealth, especially in these uncertain economic times.

Special Kindle Edition with Interactive Table of Contents and Built in Audiobook Features.......
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