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How To Really Ruin Your Financial Life and Portfolio Hardcover – October 2, 2012
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From the Inside Flap
The secret to making money is sticking to the basics, but while they might be your best bet for success, they're not exactly thrilling. For years, Ben Stein has extolled the virtues of keeping things simple, but many peoplemaybe you among themare too easily distracted by the lure of frills and fads promising quick and easy riches to pay attention. Now, in How to Really Ruin Your Financial Life and Portfolio, Stein takes a tongue-in-cheek new approach, offering advice on how to succeed spectacularly . . . at losing money!
The ultimate how-NOT-to guide, this book highlights the 49 ways in which investors manage to torpedo their portfolios by ignoring the simple facts of finance, to help you reconsider the way you're treating your money before it's too late.
From believing you can outthink the market to assuming that current trends will last forever, and from ignoring your tax returns to shunning financial advisors, this is the advice you absolutely don't need. In his own inimitable style, Stein dispenses the invaluable information that any intelligent investor should avoid at all cost, to help you identify the problems with your own portfolio-building efforts so that you can take countermeasures to get your money working for you.
A laugh-out-loud approach to personal finance, Economist and comic Ben Stein brings you the tips you need to know . . . if you want to go broke. Explaining the rules for failure so that you can run, screaming, in the opposite direction, How to Really Ruin Your Financial Life and Portfolio explains the missteps that can destroy any portfolio to help you keep yours safe.
From the Back Cover
Praise for How to Really Ruin Your Financial Life and Portfolio
"A wise man once said, 'All I want to know is where I'm going to die so I'll never go there.' Ben Stein has applied this instruction to the investment world with his special brand of humor and insights. Pay attention!"
WARREN E. BUFFETT
Chairman and CEO, Berkshire Hathaway Inc.
"I've always thought before you can learn how to become rich, you first have to stop doing the things that keep you poor. Leave it to my friend Ben Stein to smack us all across the face and, just like Cher in Moonstruck, get us to 'snap out of it.' It's an amazing wake-up call from an amazing guy, who gets it, and gets us, and now, is trying to help us. Financial advisors charge thousands of dollars for this kind of insight. Talk about how to ruin your financial life! Ben's much, much cheaper, and much, much better."
Anchor and Sr. Vice President, Fox News Channel, Fox Business Network
"These are perilous times. Many face ruin and catastrophe. You must read this book to protect your portfolio and to make money."
author of A Gift to My Children
Top Customer Reviews
This slim, informative, and sarcastic volume has brief chapters outlining paths to self-destruction. A few examples: Use your gut instinct/and or clairvoyance to pick stocks; get into hedge funds, currency trading, and commodities in a big way; buy on margin and sell short; and follow the celebrity financial gurus' advice slavishly. What could go wrong? In addition to his monetary advice, Stein includes useful recommendations for destroying your career, sometimes before it even gets started.
Stein's father, Herbert, was "a famous economist," his mother was a savvy investor who left behind a solid portfolio, and he has friends (including Warren Buffett) who are knowledgeable and wealthy. So why has Stein made so many stupid mistakes over the years? It must be that he is human; when the siren song of speculation called to him, he was powerless to resist. Investing, like gambling, can be addictive, and we all know how successful most gamblers and addicts are over time.
"How to Really Ruin Your Financial Life" is a light and fast-paced primer about the basic principles we need to follow to keep us from making ill-advised and poorly timed decisions.Read more ›
This one takes on your portfolio along with the common sense and easy to understand advice.
I Highly recommend this one for your kids. Ahhh heck I'll tell the truth, Not only your ked but Yourself and any Friend that sees it on your coffee table. Because as Ben says, "You don't know Anything!" Believe me it's not an insult or put down. He's right. Something for everyone in this one.
Stein's advice is solid and time-tested. It's a good, basic intro for a those new to investing (as long as you have enough of a foundation to understand where he's being sarcastic--which is about 60% of the book) and a good refresher for those with experience. I also found it to be useful as a reality check-- a source of solid, time-tested investing wisdom.
on Amazon purchases! Just kidding, Amazon, glad you're here-we all know that Books
and Music take precedence over Food and Clothing.
I wanted to give Ben five stars for this book, but really, most of the advice he's giving here
is just common sense-most importantly, not trying to be your own financial advisor by
'picking' individual stocks, etc. A good read, worth a few laughs maybe, but not great.
My one criticism : for real beginners in financial planning and investment advice like me: it would be good to know when you are being facetious and when you are being serious. a change in font for say /expect sly humor,.... /another kind of font for clues to real straight investment principles.
If you have ever herd Ben Stein talk, you know what I mean.
But this book just fails to deliver his wit and wisdom. Too bad.
Ben Stein had a good idea but the publishers failed to deliver.
Ben, get another publisher!
Most Recent Customer Reviews
I liked he idea of the book about teaching us what not to do in I eating and using humor at the same time. Read morePublished 3 months ago by Brian
It presents reverse advice: how to ruin your financial life. If you avoid what is says to do, your finances will be better off.Published 12 months ago by D. Guilbeau
Would you be more likely to read this review if I said not to? Maybe. Humans do like to be contrary, and reading this won’t take much of your time. Read morePublished 20 months ago by R. Cepuch
The information is good, but sometimes it is difficult to tell if he is serious of just being facetious.Published 21 months ago by cwd