The Wall Street Self-defense Manual: A Consumer's Guide to Intelligent Investing

by Henry Blodget

A former Wall Street analyst explains how to invest more intelligently and discusses such topics as investment advisors, mutual funds, hedge funds, stock research, and the financial media.

Genres: Nonfiction, Finance

258 pages, Paperback

First published January 1, 2007

Reviews

[Zhenwei Chan · Rating 5 out of 5]

henry blodget... ha! that notorious internet swindler! i swear i found his name familiar, but i was initially too taken in by the book's beautiful cover and small size to realise. But this book really serve as his atonement.

nowadays, investment books are either tome-filled with jargons, or too superficial (jim crammer's books). This book is a fine balance. it has a clear revolving theme: buy index funds, cos most mutual funds and stock-pickings incur too much cost to offset their returns. As to how tt's possible, pick up a copy and read. It's only 256 pages and size of your palm. Concise, yet precise actionable information - tt's what i like. ACTIONABLE.

[Lance Willett · Rating 3 out of 5]

Easy read, I grasped the main concepts easily because of the repetitive style and re-wording of the basic ideas over and over. Picked up a few more financial concepts I didn't know previously, like REITs and TIPS.

In summary, the big secret is: diversify your assets, reduce your costs, and get out of the way. Long-term investing takes decades, not years. The only part of your return you can control is your costs.

My favorite quote: "Brain-damaged people will out-trade you."

Note of caution: written in 2007, pre-2008 crash so your mileage may vary on the advice for specific funds, companies, and financial trends.

[John · Rating 5 out of 5]

If you only read one book on how to manage your investments, start with this one. Excellent explanation of how to dig down and lay out the true costs of mutual funds, brokers and financial advisors's fees. How to get rich slowly? Buy index funds with the lowest expense ratios (see ETFs these days), sit on them for 20-30 years, that's it.

[Katsiaryna Foronda · Rating 4 out of 5]

I have just started to read this book, so I'll get any comments at the end of my reading :)