10 of 13 people found the following review helpful
An Insiders View,
This review is from: Rigged Money: Beating Wall Street at Its Own Game (Hardcover)
(I am in the financial services industry)
Let me start by saying. I give Lee Munson, a great amount of credit for establishing the right thesis for this book. Namely, that it is risk that must be managed and not merely asset mix. This is a correct point, and I think Lee is on the right track with that one specific point, but that is where it ends. This book does little to provide the average investor with the tools necessary to construct a portfolio. If you are really looking for a book that decodes wall street and talks about the real problems and a way forward, try out Stewardship: Lessons Learned from the Lost Culture of Wall Street or Winning the Loser's Game, Fifth Edition: Timeless Strategies for Successful InvestingLee lacks a great deal of credibility here as he claims to want to write a book for the individual investor yet he only serves high net worth clients. If he really cared about the average investor then he would serve them at his firm. This is just another cheap trick by a wall street pro to convince the average joe he is on their side, by writing an emotionally charged book to the unsuspecting investor. This is why so many investors dont trust wall street. Its time for real change where advisors have the best interest of clients at heart and work FOR them. Its time for advisors to be servants first, and financial professionals second. This book is a half hearted attempt to deal with the problems in the industry and it falls very very short.