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Jackass Investing 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.
As you might have guessed, this is not your typical investment book. "Controversial" and "ground-breaking" are two words that have been used to describe it. Jackass Investing presents an entirely new, and eminently logical, process for investing - all of it supported by numerous relevant facts and studies. But Jackass Investing is not a dense financial tome. It is extremely readable and includes entertaining and relevant references to popular culture - such as Criss Angel's magic, George Costanza on Seinfeld, the rock band Rush and heavyweight boxing contender "Fast" Eddie Chambers - to help describe investment concepts in a truly approachable way.
Perhaps most importantly, the book is also highly practical, as this website includes specific actions you can take to turn your "Poor-folio" into a truly diversified portfolio 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.
About the Title
I’ve been criticized for titling my book Jackass Investing. One hugely successful hedge fund manager said it “trivialized” the significance of the pioneering thoughts inside. Another best-selling author called it my “biggest mistake” in an otherwise exceptional book. And believe me, I did struggle with the title. At the time I conceived of the book, its working title was “Exposing the Myths” (and in fact the book was also published under the alternate, but since discontinued title, Exploiting the Myths).
But as the book neared completion I became increasingly frustrated with how conventional investment “wisdom” so clearly led people to take unnecessary risks with their money – yet people continued to both preach and follow that advice.
When you look up “jackass” in the dictionary you’ll see two definitions. One describes a male donkey, which has a reputation for its stubbornness. The second refers to a “foolish person or blockhead.” This brought the title into focus. There was no better term to define the foolish stubbornness that leads people to continue to gamble their money by following conventional investment wisdom than “Jackass Investing.”
Mike Dever
What you'll learn:
From George Costanza on Seinfeld:
Why doing "The Opposite" works. Learn a proprietary strategy that outperformed the market by more than 50% over the past three years. (pg. 44)
From a top money-manager:
Stocks that trade less, perform best. Gain access to a specific strategy that has beaten the stock market by more than 7% per year since 1972. (pg. 197)
What will surprise you:
From Criss Angel:
"The magic of portfolio diversification." How two losing strategies can combine to produce a positive return. (pg. 235)
From the rock band Rush:
How every decision is a trade. “If you choose not to decide, you still have made a choice". Learn why virtually all of the world’s greatest investors have applied this approach and why this frees you up to make money (don't sweat the moves you miss!). (pg. 36)
What you'll discover:
The one investment that has outperformed stocks, with substantially less risk, for more than 25 years. (No, it's not bonds.) And, most importantly, because of its broad diversification, this outperformance is likely to continue. (pg. 153)
Why you are gambling with your money if you:
- Hold 60% stocks and 40% bonds (pg. 94)
- Buy and Hold (pg. 30)
- Stay invested in order to avoid missing the best days (pg. 65)
- Try to buy low and sell high (pg. 75)
Learn how to:
- Identify “Return Drivers”
- Avoid a “Poor-folio”
- Sidestep “Angry Environments”
Finally:
Create a “Free Lunch”, a portfolio that can produce greater returns with less risk than a conventional portfolio. (Read “Myth #20: There is No Free Lunch”)
(This book has also been released under the title -
Exploiting the Myths: Profiting from Wall Street's misguided beliefs.)
& Jackass Investing:
