Customer Reviews

Rocking Wall Street: Four Powerful Strategies That will Shake Up the Way You Invest, Build Your Wealth And Give You Your Life Back

5 star:		(14)
4 star:		(2)
3 star:		(5)
2 star:		(1)
1 star:		(7)

 

 

When I read Rocking Wall Street it had me laughing out loud, because finally someone spoke the truth about the massive risks of following the advice of brokers and media experts. The fact is you simply can't buy and hold your way through the decades unless market valuations are at historically low levels - the last time that happened was the mid-1970's. Before that, the 1930's and 40's. Not even Warren Buffet buys and holds and just walks away. . . .You can learn how to make money safely, and keep the profits, and have a great time reading about how. Gary Marks is a true crusader for the average investor. And a great story teller. No one should be playing casino games with their retirement money. It's easy to see who will win the next time a bear market rolls around. Finally a book that tells it like it is and gives us solid solutions. . .

I've never written a review before, but I read the Gary Marks book, and I just have to say that the review below that only gave it three stars just isn't getting it right. This book is not simply about hedge funds or how great they are. In fact, the author spends a part of the book telling us why only a small percentage of the hedge funds out there are any good. Most of the book isn't about hedge funds at all. It's about exposing the traps that stock brokers and financial advisors and the financial shows on TV set for us all -- by "us" I mean investors that aren't rich but would like to be some day. This author gives the rich as well as the "yet to be rich" very clear and logical advice about how to invest at every stage of wealth accumulation. But some of the book is also about how to deal with the money we do have, how we can come to enjoy it fully. There is a way this book connected me to a deeper place than any financial book I have ever read before, while also teaching me about investing in a very real and detailed way that will help me be a safer and better investor. I want to thank the author for writing a book that is truly radical and courageous, and doesn't pander to stock brokers, or mutual fund firms, or the media, or people looking for some magical scheme to get rich overnight. Because the three star reviewer below should know, if he really did read the book, that's the quickest way to lose all your money. AND, I also went to Gary Marks' music web site and found --- really great songs! [...]. Once you read his lyrics you'll know he's not just some hedge fund CEO with rich friends. His songs and his book have a lot in common -- a lot of wisdom and a lot of heart. I'm very glad I read this book.

I'm not a high net worth investor but unlike one of the other reviewers I did find this book incredibly helpful even though I am by no means a super rich, or "qualified" investor. The book is not all about hedge funds by any stretch of the imagination. Most of the book is about teaching us how NOT to get ripped off inside the investment casino, how to avoid getting addicted to media hype about a stock, or about buying Uranium, or whatever. More importantly, it's about how to find a sense of integrity and peace of mind in the investment game, and about money, and about material wealth. Marks asks us, "What would actually make you feel rich?" The answer he suggests is most definitely not about investing in hedge funds. Most stock brokers will hate this book, I could easily imagine that. A lot of people will think this book is putting down traditional investing, because, it is. In that way it will be very controversial. Investors wedded to their mutual funds will only understand this book after the next bear market. The risks they are taking are very likely far higher than they have been led to believe. As far as that same reviewer saying this book is hype for hedge funds, I don't get it. Mr. Marks spends a long time warning readers about the dark side of hedge funds, as well as the markets. Then he gives us pragmatic solutions to invest without gambling on a day to day or month to month basis. There are answers for non-qualified (not rich) investors too. But the answers are not gimmicky. They are real and sober. They are not about "get rich quick." They are about finding a way out of the stress and mental anguish investing inevitably leaves you with, unless you know what you are doing and coming from a truly realistic place. Did that reviewer actually read the entire book? Or just look at one of the ten chapters? I wish I had read a book like this before the last bear market. But I'm at least glad I read it before the next one.

I am a successful, grateful, High Net Worth Investor with an MBA in Finance, etc. After reviewing an advance copy of this book I am blown away! I have learned over time how to make great returns on my money and keep it safe during these crazy times. Gary Marks is right on.

Everyone would greatly gain from reading Rocking Wall Street and by following it's guidelines. Be the first on your block to keep your money and make it grow... and show them how smart you are by suggesting a book that is sure to be on 2007's New York Times Best Seller list. Can you tell I like the principles in this book? Was I too subtle? :)

Gary Marks wonderful new book really opened my eyes to the possibility of creating personal wealth while maintaining a sense of perspective in my life. The idea that I own my money and that it doesn't own me is an essential understanding if one is to create a life of true abundance. I urge everyone who wants real, as opposed to artifical, prosperity to read this book.

I see Rocking Wall Street is doing its job -- freaking out stock brokers and money managers by exposing their true intentions -- look at the review below! It's really funny! Other brokers may be chiming in with reviews as well since their reviews have so much of a defensive edge to them.

Rocking Wall Street is not going to be well received by traditional investing professionals. They know virtually nothing about preserving principal in bear markets. All they do to "protect you" is throw you in government bonds which make you MAYBE 2-3 % after tax. That's not a solution since in bull markets you miss so much of the growth. This book offers alternatives.

The brokers like the guy below also miss another big point in the book (see many of the longer reviews where it's clear they actually READ the book before they reviewed it)! --- The concept is called The End Game. This idea has changed my investing goals. It's basically saying there is a point where you don't have to pay fees to anyone anymore, or sit there scratching your head over the idiocy on CNBC trying to do-it-yourself, because you don't need to invest anymore. . . .what a wild concept! Would a broker or ANYONE ever tell you that?

Assessing performance net after fees, and assessing the volatility along the way, is always crucial before you choose to invest with anyone. -- this book makes that very clear. This book is not suggesting you invest with any specific person or fund or firm. It's laying out two clear overall investment strategies and the reasons for them. Maybe they're too simple for those who need complexity and razzmatazz to impress them. All I can tell you is that I understood the concepts clearly, and I am going to follow through. Especially since the stock market feels pretty topped out to me right now and I don't see how any of us are going to make 1990's annualized gains using brokers or day trading or any of that craziness, for a long time to come.

We've all been lucky to make some money in the market in the last few years. It's been trending UP. That's the cycle it's been in. But that's NOT a reason to think the investments we're in are not dangerous and can't lose us huge amounts of money in a short time. The book is very sobering about how much investors tend to lose in a bear market cycle. The book states: Protection of capital is key. Peace of mind is key. Those two concepts are presented, and dealt with, loud and clear. And I for one don't plan to gamble with my money.

Beyond wealth and the day-to-day trappings and complexities it brings, lie certain fundamental and basic concepts - this book reveals "quality-of-life" over "quantity-in-life" concepts that go beyond the art of making money. Gary has hit a nerve in the world of life and the attitude toward one's money. A great read, and all from a great musician too.

First, let me confess that I am not an investor. But I do hold a highly-esteemed position as wife-of-an-investor and have seen miracles with this book. My husband read it cover to cover and then promptly ordered half a dozen copies to send to friends. Yeah, he REALLY liked it. The changes I have seen in my husband since his reading this book are nothing short of amazing. Finding balance in our home life has been a challenge. Until now. This book has in some way communicated some essential truth that was missing from other investment books. The extreme stress and drudgery of his investing life have been replaced with a newfound joy and energy and perspective that includes enjoying life (imagine that!). Thank you for this book. It truly illuminates what making money is all about.

It seems that everyone has a strategy for how to beat the stock market and make your fortune. This book looks at things slightly differently... Rocking Wall Street: Four Powerful Strategies That will Shake Up the Way You Invest, Build Your Wealth And Give You Your Life Back by Gary Marks. If you are the right audience for the book, there are some concepts here that will change the way you think about your nest egg.

Contents:
Part 1 - The Emotional Controls: The Beginning, and the End Game; Investing for Your Life versus Spending Your Life Investing; The Power of Hedging - Always Hedge Your Bets
Part 2 - Knowing the Difference between Market Stats and Market Hype: Just the Facts, Ma'am; Addressing Investors' Questions from Part One; The Right Stuff (and the Wrong Stuff)
Part 3 - Hedging Wall Street - Hedged Portfolio Construction: Successful Investments - Where Are They?; Hedge Fund Mindset
Part 4 - Planning for the Future and Seeking the End Game: The Financial Planning Maze; The Game Beyond the End Game
Appendix - Specific Due Diligence Notes and Fund of Funds Questionnaire; About the Author; Index

The gist of Rocking Wall Street (or at least what I took away from it) was that chasing after the hottest stocks and largest gains is a losing battle. You either lose big time or you spend all of your time managing your investments rather than enjoying life. Marks advocates the use of hedging to lock in a consistent range of returns for your investments, regardless of market direction or action. Your 10 - 12% return may miss out on the 25% market gain, but your 7 - 9% return when the market tanks more than makes up for it. And you don't spend your time on an emotional roller coaster, either. There is a little information on hedging for the common investor, but the main target audience seems to be the "qualified investor", a legal term for a person with $1.5 million in investable assets. Through the use of "funds of hedge funds", that type of investor can leverage the success of many different hedge funds without putting all their money at risk with a certain type of investing. The fund of funds manager can move money around and has the staff and experience to do the extensive due diligence on the funds to make sure the financial end is doing what it states. And being that you're investing hundreds of thousands of dollars with this manager, you should have an extensive list of questions as well as an ongoing relationship with them. His feeling is that once you get to a high financial net worth, you've reached the "end game." You don't have to make 20% a year to maintain your lifestyle (or at least you shouldn't have to). Preservation of capital is paramount, and making 8 - 12% regardless of market swings is your goal.

Now it's for sure that I am not the target audience for this book. :) But he makes some great points for all investors. Living your life around your investments on a daily basis is a poor excuse for a life. It's even worse when you've reached a point where you have all the money you'll ever need. The concept of an "end game" is one that more people need to understand and use to get more out of their life.

I was expecting a discussion of diversification such as option strategies, long-short poistions and other hedging techniques backed up by well explained math. This book is none of that. In fact I can save you all the price of the book with this summary: big losses are bad, the market has big down periods, hedging is good but you give up some upside to reduce your down exposure, Warren Buffet is not just a buy and hold investor, he moves in and out but you are probably not as good as he is, therefore invest in a fund of hedge funds and you will get a more consistent return without the large downside. BRILLANT!!! Oh by the way, in case you decide to take his advice and invest in a fund of funds, the author happens to run one. His other points include: day trading is a fools game, if you are rich you should enjoy life and not waste time on investing your own money etc. There is absolutely nothing new in this book. There is however a good due diligence out line for investing in hedge funds in the appendix.

If you are a serious investor that is looking for real insight into diversification theory and ways to do it, THIS IS NOT YOUR BOOK