To understand the economy you have to understand one simple, but unspoken, truth: Wall Street needs money from Main Street, not the other way around. Keeping this secret from the public has been an essential part of the development of the American economy for over four hundred years, but now that you know it—and with advice from Wall Street insider-turned-realist Lee Munson—you have the power to protect yourself and your money.
Rigged Money: Beating Wall Street at Its Own Game explains in detail how the financial industry has systematically worked to convince the public that investing across different asset classes is the only way to protect wealth. At one point this was probably sage advice, but today it's an outdated rule more likely to bring disaster than success. Since asset classes—from small caps and international stocks to gold and bonds—now overlap when it comes to risk and volatility parameters, the diversification effect is gone, and with it, any reason for spreading your money around. It's this change in the financial landscape, and the rules of the game, that Wall Street doesn't want you to know about, and that this book discusses.
Revealing the truth about the system while arming you with the simple, smart, and clear advice that you need to go head-to-head with the financial giants, Rigged Money provides advice to investors on what Wall Street is doing behind your back and how you can use the same techniques and knowledge to level the playing field.
Praise for Rigged Money
"If you've ever had the feeling that the stock market was a mug's game, this book's for you. During these tough times we need more straight talk and less marketing hype about how to invest responsibly. Lee Munson is a rare insider who's willing to tell it like it is, and he tells it very well!"—Andrew W. Lo, Chief Investment Strategist, AlphaSimplex Group
"Lee is a sharp guy who doesn't hold back on his opinions. This book is not just a repeat of what you've seen before."—Jeffrey Kosnett, Senior Editor, Kiplinger's Personal Finance and Kiplinger.com
"It has been said that no man can serve two masters. Lee Munson understands perfectly that asset management is about serving one master—clients! Read this book and Lee will tell you why this simple truth is self-evident."—Rodney N. Sullivan, CFA, Editor, Financial Analysts Journal
"When I read Lee Munson's book, Rigged Money, I was reminded of an old Beetle Bailey cartoon by Mort Walker. A recurrent character named Zero was asked to confirm whether a Jeep's turn signals were working. He dutifully reported 'Working. Not Working. Working. Not Working.' That's a good way to describe Lee Munson's observations about the potions and prescriptions that Wall Street tries to peddle to us mere humans. If you really want to understand how we got to this peculiar investment environment, you need to read Lee's book. There are ideas and strategies that work sometimes, and fail horribly at other times. Lee takes us through the history of how these ideas get recycled and reused in an effort to take the customers' money to support Wall Street's aims. And he also gives us insights about how to avoid falling into the same traps which capture 'the crowd.' Rigged Money is a great way for readers to see the investing picture as it really is, and not as the slick commercials want you to believe it is. You should consider this book a 'buy and hold forever' asset."—Tom McClellan, Editor, The McClellan Market ReportSee all Editorial Reviews
I recently had the pleasure of meeting Lee Munson during a hiking trip in the Colorado Mountains. Knowing little to nothing about Lee and his profession, I was intrigued when he... Read morePublished 11 months ago by David
I had the pleasure working with Lee Munson. Even in his rookie years, he was always the contrarian, refusing to pitch what everyone else was, showing signs that he was going to be... Read morePublished 12 months ago by steven waldman
In a field of literature dominated by spun out narratives and impenetrable ivory-tower babble, Munson's work is an oasis. Read morePublished on November 5, 2012 by MoneyReader
If you had read this book and did not rate it 5 stars; than you certainly will loose your money in the stock market. Read morePublished on June 9, 2012 by L. Lieu
Lee Munson is the author of this book, If you take the time to read the comments to the negative reviews you will see Mr. Munson personally flame every negative review. Read morePublished on June 4, 2012 by James Phillips
This book is a MUST READ for any investor. Lee Munson has read the classics, practiced their lessons in the real world and presents you with an highly entertaining yet invaluable... Read morePublished on March 3, 2012 by Stephen Aniston
This book is informative in pointing out our system of rigged markets, but comes short on recommendations. It is self-promoting. Read morePublished on February 5, 2012 by Kindle Customer
OK, take all those other investing books and put them in a safe place in case you run out of Ambien one day. Read morePublished on January 29, 2012 by Cityboy Traveller
With a title like "Rigged Money" surely Munson was going to skewer the options industry at all levels. And then roast alive Wall Street. He didn't and he doesn't. Read morePublished on January 22, 2012 by clicclic