Legendary money manager Ken Fisher outlines the most common—and costly—mistakes investors make.
Small cap stocks are best for all time. Bunk!
A trade deficit is bad for markets. Bunk!
Stocks can't rise on high unemployment. Bunk!
Many investors think they are safest following widely accepted Wall Street wisdom—but much of Wall Street wisdom isn't so wise. In fact, it can be costly bunk.
In Debunkery: Learn It, Do It, and Profit From It—Seeing Through Wall Street's Money-Killing Myths, Ken Fisher—named one of the 30 most influential individuals of the last three decades by Investment Advisor magazine—details why so many investors fail to get the long-term results they desire. The short answer is many investors fail to question if what they believe is true—and are therefore blinded by tradition, biases, ideology, or any number of cognitive errors.
Your goal as an investor shouldn't be to be error-free—that's impossible. Rather, to be more successful, you should aim to lower your error rate. Debunkery gets you started by debunking 50 common myths—but that's just the beginning. It also gives you the tools you need to continue to do your own debunkery for the rest of your investing career.
Table of contents
- FISHER INVESTMENTS PRESS
- Title Page
- Copyright Page
PART 1 - BASIC BUNK TO MAKE YOU BROKE
- BUNK 1 - BONDS ARE SAFER THAN STOCKS
- BUNK 2 - WELL-RESTED INVESTORS ARE BETTER INVESTORS
- BUNK 3 - RETIREES MUST BE CONSERVATIVE
- BUNK 4 - AGE EQUALS ASSET ALLOCATION
- BUNK 5 - YOU SHOULD EXPECT AVERAGE RETURNS
- BUNK 6 - “CAPITAL PRESERVATION AND GROWTH” IS POSSIBLE!
- BUNK 7 - TRUST YOUR GUT
- BUNK 8 - ONE BIG BEAR AND YOU’RE DONE
- BUNK 9 - MAKE SURE IT’S A BULL BEFORE DIVING IN
- BUNK 10 - GROWTH IS BEST FOR ALL TIME. NO, VALUE. NO, SMALL CAPS
- BUNK 11 - A GOOD CON ARTIST IS HARD TO SPOT
PART 2 - WALL STREET “WISDOM”
- BUNK 12 - STOP-LOSSES STOP LOSSES!
- BUNK 13 - COVERED CALLS . . . GOTCHA COVERED
- BUNK 14 - DOLLAR COST AVERAGING—LOWER RISK, BETTER RETURNS
- BUNK 15 - VARIABLE ANNUITIES ARE ALL UPSIDE, NO DOWNSIDE
- BUNK 16 - EQUITY-INDEXED ANNUITIES—BETTER THAN NORMAL ANNUITIES
- BUNK 17 - PASSIVE INVESTING IS EASY
- BUNK 18 - DO BETTER WITH MUTUAL FUNDS BY SENDING YOUR SPOUSE ON A SHOPPING SPREE
- BUNK 19 - BETA MEASURES RISK
- BUNK 20 - EQUITY RISK PREMIUMS—FORECASTING FUTURE RETURNS WITH EASE
- BUNK 21 - WHEN THE VIX IS HIGH, IT’S TIME TO BUY
- BUNK 22 - BE CONFIDENT ON CONSUMER CONFIDENCE
- BUNK 23 - ALL HAIL THE MIGHTY DOW!
PART 3 - “EVERYONE KNOWS”
- BUNK 24 - SO GOES JANUARY
- BUNK 25 - SELL IN MAY
- BUNK 26 - LOW P/ES MEAN LOW RISK
- BUNK 27 - A STRONG DOLLAR IS SUPER
- BUNK 28 - DON’T FIGHT THE FED
- BUNK 29 - INTEREST PAYS DIVIDENDS
- BUNK 30 - BUY A 5% CD FOR 5% CASH FLOW—EASY!
- BUNK 31 - BABY BOOMERS RETIRE, WORLD ENDS, ETC.
- BUNK 32 - CONCENTRATE TO BUILD WEALTH
PART 4 - HISTORY LESSONS
- BUNK 33 - PRAY FOR BUDGET SURPLUSES
- BUNK 34 - HIGH UNEMPLOYMENT IS A KILLER
- BUNK 35 - WITH GOLD, YOU’RE GOLDEN
- BUNK 36 - STOCKS LOVE LOWER TAXES
- BUNK 37 - OIL AND STOCKS SEESAW
- BUNK 38 - SWINE FLU, SARS, EBOLA, AND OTHER VIRAL DISASTERS MAKE MARKETS SICK
- BUNK 39 - CONSUMERS ARE KING
- BUNK 40 - PRESIDENTIAL TERM CYCLES ARE STOCK MARKET VOODOO
- BUNK 41 - MY POLITICAL PARTY IS BEST FOR STOCKS
- BUNK 42 - STOCK RETURNS ARE TOO HIGH AND MUST FALL
PART 5 - IT’S A GREAT BIG WORLD!
- BUNK 43 - FOREIGN STOCKS JUST FEEL SO . . . FOREIGN
- BUNK 44 - WHO NEEDS FOREIGN?
- BUNK 45 - BIG DEBT IS NATIONAL DEATH
- BUNK 46 - AMERICA CAN’T HANDLE ITS DEBT
- BUNK 47 - INDEBTED TO CHINA
- BUNK 48 - TRADE DEFICITS MAKE DEFICIENT MARKETS
- BUNK 49 - GDP MAKES STOCKS GROW
- BUNK 50 - TERRORISM TERRORIZES STOCKS
- ABOUT THE AUTHORS
- Title: Debunkery: Learn It, Do It, and Profit From It—Seeing Through Wall Street's Money-Killing Myths
- Release date: October 2010
- Publisher(s): Wiley
- ISBN: 9780470285350
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