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Gents with No Cents by [DeLegge II, Ron ]
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Gents with No Cents Kindle Edition

4.2 out of 5 stars 45 customer reviews

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Length: 157 pages Word Wise: Enabled Enhanced Typesetting: Enabled
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Editorial Reviews

Review

'Gents with No Cents' is a fun-filled romp through the back alleys, sub-basements and greasy trading pits of Wall Street and its equivalents everywhere. ----Daryl Montgomery, Author of Inflation Investing: A Guide for the 2010s

DeLegge tells us who gains and who loses in his humorous expose of the financial industry. ----Rick Ferri, Author, Columnist, and pioneer in low-cost index investing

Investment humor not an oxymoron. -- --Squared Away Blog at Boston College

"An enjoyable read and...educational to boot." --Kirkus Book Review

"DeLegge puts the financial crises in context as he explains the thought processes of Wall street. 'Gents with no Cents' is a fine pick that shouldn't be overlooked by any general interest and economics collection." --Midwest Book Review

About the Author

Ron DeLegge II is the weekly radio voice of the Index Investing Radio Show (IndexShow.com) and a former financial advisor. Ron has over 15 years of experience in the investment industry and he also covers the exchange-traded funds marketplace for ETFguide.com and Research Magazine.

Product Details

  • File Size: 1353 KB
  • Print Length: 157 pages
  • Publication Date: December 18, 2011
  • Sold by: Amazon Digital Services LLC
  • Language: English
  • ASIN: B006NR29EO
  • Text-to-Speech: Enabled
  • X-Ray:
  • Word Wise: Enabled
  • Lending: Enabled
  • Enhanced Typesetting: Enabled
  • Amazon Best Sellers Rank: #1,140,209 Paid in Kindle Store (See Top 100 Paid in Kindle Store)
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Customer Reviews

Top Customer Reviews

By Grady Harp HALL OF FAMETOP 100 REVIEWERVINE VOICE on April 9, 2012
Format: Paperback
There is nothing at all humorous about the miserable state of affairs of the financial chaos in which we find ourselves. But just when the idea of considering a leap off a tall building begins to seem an alternative exit along comes Ron DeLegge II with his book GENTS WITH NO CENTS: A CLOSER LOOK AT WALL STREET, ITS CUSTOMERS, FINANCIAL REGULATORS, AND THE MEDIA comes along as one of the funniest exposés of the madness that pervades the financial kingdom of Wall Street and the belly laughs that abound in this book put everything into perspective!

DeLegge writes enormously well. He divides his words of comfort into nine chapter: In the Beginning..('I felt it was a citizen's duty not to just describe Wall Street as it really is, but to uncover its root mentality, which hovers between lunacy and adolescence. Along the way, I encountered a whole mess of other people with the same psychotic mindset who effortlessly act out the part.');The Office Scene ('A business is a genuine adult playground, with running, throwing, kicking, flirting, fighting, and crying...');Customers - That Venturesome Bunch; News, Views and Zoos ('Fewer than ten seconds of tire kicking unveils an incredible find: The term 'media' contains the word 'me' just before 'dia'. In Spanish 'dia' means 'day'. Therefore the word 'media' literally translates as 'me first today'. Put another way, the media offers us a good case stud in the narcissistic nature of Homo sapiens....'); Investment Funds - Trial and Error Investing; Advanced Strategies for Beginners; Earth, Wind and Taxes ('Is getting flushed down the toilet a taxable event?'); Cops and Robbers ('While it hasn't received much publicity, the SEC doesn't just function as Wall Street's sheriff; it also doubles as a famous playwright.'); Somewhere over the Rainbow.
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Format: Paperback
I had not known anything about Ron DeLegge prior to reading this book. I chanced to read it as I was offered a free copy by the publishers. Once I finished the book, I found out that he was a former financial advisor and also a current radio host on investing. This book is a punishing expose of the financial industry as a whole, especially Wall Street, and written in much lighter vein.

The book exposes the dark side of American finance, especially the investment side of it that is actively promoted by the government, the IRS, the SEC, the media and also the financial regulators. In short, it says that they are all hand-in-glove with each other, stringing the naive investing citizen along, resulting in the investor being separated from her hard-earned wealth. The book shows how greed runs amok, ignoring common sense and stark reality that stares you in the face.
I have been one of those naive investors for 15 years and have been conned and robbed by the investment banks of much of my money through their financial 'advisors'. It is only after losing most of my money in the downturns that I started studying more deeply about investment and came to understand many of the malpractices of Wall street, which DeLegge humorously points out. However, just this understanding alone does not help me keep my money away from the vultures. In real life, the purpose is to find ways as to how to keep your money from being 'siphoned off' by Wall street. Eventually, I learnt the lessons of index investing even though the book does not cover that aspect. In my experience, I feel that all the mumbo-jumbo of investing can be reduced to focus on just three points: 1. Reduce the risk in your portfolio to what you can tolerate. 2. Invest and trade such that you reduce taxes. 3.
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Format: Paperback
Hysterically funny -- the author should be a stand-up comic. The book is a tongue-in-cheek look at all aspects of the investment business, including Wall Street, the financial media, investors and traders, regulators and the tax authorities. Considering the outrageous things that have happened in the last several years, it is difficult to parody them because they are already so absurd, but DeLegge gets in a lot of good one-line zingers. While Delegge does an admirable job of skewering Wall Street, he doesn't cover the other great financial absurdity of our time -- the economy (perhaps that's because this would be more in the genre of fantasy than slapstick). When you've had enough of all the bad news about the latest financial crisis de jour, consider reading this book. At least you'll know the laughs are honest.
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Format: Paperback Verified Purchase
Fairly entertaining, but I cannot give it five stars because it is basically a rip-off of an older book called "Where are the Customer's Yachts." Very many of the analogies and stories are almost identical. Here are a few examples of what could almost be called plagiarism:

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Customer's Yachts pxxvi "I had planned to have my book appear under the good title The Adventures of Huckleberry Finn"

Gents loc1 "The original title I selected for this book was Gulliver's Travels"
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Customers Yachts p144 "At this point we shall take up the subject of Price and Value ... and analyze the United States Steel Corporation. .. I can state without fear of successful contradiction that Steel closed yesterday quoted at 57 5/8. This price was arrived at because at about 3pm yesterday someone was willing to pay 57 5/8 for at least 100 shares"

Gents loc215: "Let's begin our journey into price and value by analyzing Apple ... I can state without any hesitancy that Apple shares closed yesterday at $374.93, price determined because at 4pm yesterday someone was willing to pay $374.86 for at least 100 shares"

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Other examples includes the coin-flipping game, almost identically described in Gents as it was in Customer's Yachts, and the description of the brokers "throwing clients money up to the ceiling" to determine how much the clients would get to keep.

If it wasn't so obviously based upon another book, I would have given it four or five stars.
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