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Rigged Money: Beating Wall Street at Its Own Game Hardcover – December 6, 2011
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From the Inside Flap
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 At one point this was probably sage advice, but today it's an outdated rule more likely to bring disaster than success.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.
From the Back Cover
"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 Report
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Top Customer Reviews
The author adds to the growing body of knowledge deprogramming minds from market mythology. Endgame told us to expect volatility and recessions no matter what authorities do Endgame: The End of the Debt Supercycle and How It Changes Everything. Throw Them All Out showed us how a fish rots from the head down Throw Them All Out. Rigged Money instructs us how to take off risk during volatility - in violent opposition to Wall Street and other authorities including the SEC.
Rigged Money specifies techniques used by the financial industry to get us to buy, to participate in the great game. We're enticed by siren songs. We wake up thinking we need to buy and hold a little of everything to achieve freedom and diversity. We reason in support of these beliefs using mantras repeatedly presented by authorities in high volume. Shouldn't we hold the fruits of our labor in stocks? Each of us is suggestible at times and in varying degrees.
Munson is disruptive. He's deliberately stepping to a different beat to mess up the cadence of the whole Wall Street formation. The book spared me pitfalls from believing lies of the pie chart. The pie chart as presented to investors grossly misrepresents statistics. Wall Street wants investors to be donors. They dearly want us to buy higher risk.Read more ›
Through and through every word in this book has been a revelation and has given me valuable insight that I now use to critically analyze my investment positioning. If I had a million dollars to be managed, I would hand them over to Lee Munson in a nanosecond. Lee Munson is one of the most entertaining yet competent voices on CNBC and I always look forward to seeing him on the Kudlow Report.
Most Recent Customer 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 23 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 on August 18, 2014 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 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 Traveler
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