9,99 €
Mehr erfahren.
- Herausgeber: Business Book Summaries
- Kategorie: Fachliteratur
- Sprache: Englisch
The must-read summary of Ken Fisher and Lara Hoffmans' book: "Debunkery: Learn It, Do It, and Profit from It - Seeing Through Wall Street's Money-Killing Myths".
This complete summary of the ideas from Ken Fisher and Lara Hoffmans' book "Debunkery" shows that in order to be a successful investor, you have to avoid the common errors most people make repeatedly. Investors usually demand absolutes but they don’t exist – even the very best investors are only right about 70% of the time. In their book, the authors advise you to debunk all the conventional investment advice you hear on TV and do your own thinking. This summary will teach you how to move ahead and use your intuition, your gut instincts and your common sense in order make better investment decisions.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your investment knowledge
To learn more, read "Debunkery" and discover the key to using commonsense to make the right investment.
Das E-Book können Sie in Legimi-Apps oder einer beliebigen App lesen, die das folgende Format unterstützen:
Seitenzahl: 44
Veröffentlichungsjahr: 2014
Ähnliche
Book Presentation: Debunkery by Ken Fisher with Lara Hoffmans
Book Abstract
About the Author
Important Note About This Ebook
Summary of Debunkery (Ken Fisher with Lara Hoffmans)
Basic bunk which can make you broke
Decoding Wall Street “Wisdom”
Addressing what “everyone knows”
Learning from history
It’s a big world
Book Presentation: Debunkery by Ken Fisher with Lara Hoffmans
Book Abstract
Main idea
To be a successful investor, you have to avoid the common errors most people make repeatedly. Investors usually demand absolutes but they don’t exist – even the very best investors are only right about 70 percent of the time. Your goal as an investor shouldn’t be to be error-free but to be more right than wrong over time. The majority of investors reverse this dynamic and are wrong more often than they are right. To reduce your error rate, debunk all the conventional investment advice you hear on TV and do your own thinking. Wall Street thrives on the basic misperceptions which investors have about the markets and how they work. To move ahead, be prepared to use your intuition, your gut instincts and your common sense - all the things Wall Street tries to use against you - to decipher conventional wisdom and ultimately make better investment decisions.
About the Author
KEN FISHER has written the Portfolio Strategy column in Forbes magazine for more than 25 years. He is the founder, chairman and CEO of Fisher Investments, a money management firm with more than $32 billion under management. Mr. Fisher also features on the Forbes 400 list of richest Americans and the Forbes Global Billionaire list. He has written six previous books including The Only Three Questions That Count, The Ten Roads to Riches and How to Smell a Rat. Mr. Fisher is a graduate of Humboldt State University.
LARA HOFFMANS is a content manager at Fisher Investments. She is contributing editor of MarketMinder.com and coauthor of The Only Three Questions That Count, The Ten Roads to Riches and How to Smell a Rat. She is a graduate of the University of Notre Dame.
The Web site for this book is atwww.debunkery.com.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of Debunkery (Ken Fisher with Lara Hoffmans)
Basic bunk which can make you broke
The human brain generates lots of fundamental misunderstandings when it comes to investing. We can’t help it and we’re not even aware we’re doing it. You have to get into your head the thought human ingenuity is boundless and that ingenuity will ultimately show up in the future earnings of firms which, despite the odd setback, will always rise long term. Investing requires grit, discipline and a skin as thick as an alligator.
1. Bonds are safer than stocks
Bonds feel “safer” because they promise a fixed rate of interest but the problem is bonds can actually lose money in the short term as well, particularly if you have a period of inflation. In 2009, for example, bonds fell 9.5 percent while world stocks were up 30 percent. Admittedly, stocks are more volatile than bonds but over the long haul (80 year time frames), stocks have always beaten inflation and generated some sizable gains as well. Stocks are safer than bonds because they appreciate in value more consistently over the longer term.
2. Well rested investors are better investors
The suggestion here is when people are so worried they can’t sleep at night, they should be in bonds rather than stocks. Over the past thirty years, US stocks have gone up in value by 2,509 percent compared with the 524 percent gain generated by bonds. Put another way, 97 percent of the time, stocks outperform bonds by a margin of 3.7 to 1. Bonds outperform stocks 3 percent of the time and when they do have a margin of 1.1 to 1. If anyone should be losing sleep, it’s those who forgo superior long-term returns in exchange for less perceived volatility - bondholders. There’s no way around it - if you want stock-like returns, you’ve got to be prepared to stomach stock-like short-term volatility.
“And if someone sells you on stock-like returns with materially less than stock-like risk, you may be talking to a con artist. Being 100 percent ripped off will definitely cause you to lose sleep.”
– Ken Fisher
