There aren't too many books that are able to both introduce ground-breaking concepts, yet also provide specific strategies to use to exploit those concepts. Jackass Investing
is one book that does both. Read this book. --Futures Magazine
I read the entire book on a recent flight. Once I started I couldn't stop. It is very well written. The author clearly shows he knows what he's talking about and expresses his wisdom concisely. Readers will find Dever's investment principles practical and compelling. I highly recommend it to both new and experienced investors. --NIBA Journal
From the Author
The Writing of Jackass Investing
The year was 1999. Everyone "knew" that the sure path to financial independence was to simply buy stocks and hold on for the long run; that a diversified portfolio was one that held a variety of stocks, such as large caps, small caps, and maybe even a few from other countries; that government regulations ensured a safe investing environment; and that commodities and futures trading were a sure path to reduced wealth. I vehemently disagreed and viewed these supposed "truths" to be, in actuality, costly myths. It was in that environment that I resolved to write Jackass Investing
Over the following decade I cataloged dozens of investment myths, and over the years researched the basis for each one. In this book I condense that list to 20 of the most pervasive. My purpose is not just to expose each myth, but to show people how they can profit by exploiting the myths. This required an extensive amount of research, both to show why each myth is just that - a myth - and not a fact, and also to create the investment approach that you, the reader, could use to profit from the behavior of those people who believed in - and invested pursuant to - each myth.
As a result, Jackass Investing
is really two books in one. The first is the print (and electronic) book. It contains 300 pages of research and narrative designed to expose each myth. I've written this book to be entertaining as well as informative, and incorporate numerous comparisons between the myths and popular culture (one of my favorites, and most valuable, is the comparison between George Costanza on Seinfeld and the behavior of most so-called "investors"). The second part is the online "Action Section". It is here that I reveal specific "Trading Strategies" that you can employ to create a "Free Lunch" portfolio. A Free Lunch portfolio produces both greater returns and lower risk than the "conventional" portfolio that is advocated by the vast majority of financial professionals and publications.
My goal, as I state in the Introduction to the book, is "to put to rest the investment paradigm that has been overpreached and accepted without hesitation, despite its obvious flaws, for far too long" and to help my readers "transform their lives and gain what every adult in the modern world dreams of and rarely achieves ... financial security."