From the Inside Flap
To understand the economy you have to understand one simple, butunspoken, truth: Wall Street needs money from Main Street, not theother way around. Keeping this secret from the public has been anessential part of the development of the American economy for overfour hundred years, but now that you know it—and with advicefrom Wall Street insider-turned-realist Lee Munson—you havethe power to protect yourself and your money.
Rigged Money: Beating Wall Street at Its Own Gameexplains in detail how the financial industry has systematicallyworked to convince the public that investing across different assetclasses is the only way to protect wealth. At one point this wasprobably sage advice, but today it's an outdated rule more likelyto bring disaster than success. Since asset classes—fromsmall caps and international stocks to gold and bonds—nowoverlap when it comes to risk and volatility parameters, thediversification effect is gone, and with it, any reason forspreading your money around. It's this change in the financiallandscape, and the rules of the game, that Wall Street doesn't wantyou to know about, and that this book discusses.
Revealing the truth about the system while arming you with thesimple, smart, and clear advice that you need to go head-to-headwith the financial giants, Rigged Money provides advice toinvestors on what Wall Street is doing behind your back and how youcan use the same techniques and knowledge to level the playingfield.
From the Back Cover
Praise for Rigged Money
"If you've ever had the feeling that the stock market was amug's game, this book's for you. During these tough times we needmore straight talk and less marketing hype about how to investresponsibly. Lee Munson is a rare insider who's willing to tell itlike it is, and he tells it very well!"—Andrew W. Lo, ChiefInvestment Strategist, AlphaSimplex Group
"Lee is a sharp guy who doesn't hold back on his opinions. Thisbook is not just a repeat of what you've seenbefore."—Jeffrey Kosnett, Senior Editor, Kiplinger's PersonalFinance and Kiplinger.com
"It has been said that no man can serve two masters. Lee Munsonunderstands perfectly that asset management is about serving onemaster—clients! Read this book and Lee will tell you why thissimple truth is self-evident."—Rodney N. Sullivan, CFA,Editor, Financial Analysts Journal
"When I read Lee Munson's book, Rigged Money, I wasreminded of an old Beetle Bailey cartoon by Mort Walker. Arecurrent character named Zero was asked to confirm whether aJeep's turn signals were working. He dutifully reported 'Working.Not Working. Working. Not Working.' That's a good way to describeLee Munson's observations about the potions and prescriptions thatWall Street tries to peddle to us mere humans. If you really wantto understand how we got to this peculiar investment environment,you need to read Lee's book. There are ideas and strategies thatwork sometimes, and fail horribly at other times. Lee takes usthrough the history of how these ideas get recycled and reused inan effort to take the customers' money to support Wall Street'saims. And he also gives us insights about how to avoid falling intothe same traps which capture 'the crowd.' Rigged Money is agreat way for readers to see the investing picture as it really is,and not as the slick commercials want you to believe it is. Youshould consider this book a 'buy and hold forever'asset."—Tom McClellan, Editor, The McClellan MarketReport