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Gents with No Cents
GENTS WITH NO CENTS explores a rarely examined side of Wall Its childish antics. From accountants that can't count, to financial regulators that don't regulate, GENTS WITH NO CENTS will make you howl with laughter at their incompetence. Written by Ron DeLegge II, veteran radio host of the Index Investing Show, GENTS WITH NO CENTS is narrated in an easy going style with sharp satire throughout and 20 hand drawn illustrations by noted cartoonist, Dave Clegg. DeLegge draws from his personal experiences as a Wall Street salesperson with crazy supervisors and even crazier customers. He offers a refreshing perspective that's opposite of the angry and condescending tone of financial literature that has come to characterize our era. GENTS WITH NO CENTS also pokes fun at taxes and the IRS, along with the media for misreporting the news, inventing questionable facts, and contributing to the public's confusion.
157 pages, Paperback
First published January 1, 2011
5 people are currently reading
111 people want to read
About the author
Ron DeLegge II
2 books22 followersRon DeLegge II is the author of 'Gents with No Cents: A Closer Look at Wall Street, its Customers, Financial Regulators, and the Media. DeLegge is not affiliated with the DeLegge Funeral Home in Schenectady, NY, but he's open to the idea of receiving a small equity stake in the business. Ron is also the weekly voice of the Index Investing Show. He writes for ETFguide.com and Research Magazine.
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Displaying 1 - 13 of 13 reviews
March 30, 2012
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. Allocate to beat inflation, taking into account your risk tolerance.
I ask myself if I would have benefited from DeLegge's book had I read it before the 2000 dotcom crash. Unfortunately the answer is 'No'. The fault is not with the book but with the characteristics of the 'Customer' that Ron himself outlines in his book. I needed to lose substantial money in order to take a hard look at the whole scenario. Then only the ordinary investor is ready to heed these lessons outlined in the book. In the same way, only after losing money consistently through the 'advice' of the advisors of your investment bank, do you realize that you don't need to pay money managers to 'take care' of your money. After the debacle of 2008, it has become gradually apparent to many that the whole system is smoke and mirrors and corrupt. Insider trading seems to be the dharma of Wall Street rather than an exception. So, De Legge's book can be enjoyed for its humor only by people who have been scarred by Wall Street. The ones who still have much of their money and not lost a lot of it in the stock market, ironically, might see Ron's book as that of a cynic and naysayer and hence dismiss it. That is the paradox of such books.
The book is a breezy and humorous read. Ron says, "Keep your cents and the money will follow". It is good advice to follow.
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. Allocate to beat inflation, taking into account your risk tolerance.
I ask myself if I would have benefited from DeLegge's book had I read it before the 2000 dotcom crash. Unfortunately the answer is 'No'. The fault is not with the book but with the characteristics of the 'Customer' that Ron himself outlines in his book. I needed to lose substantial money in order to take a hard look at the whole scenario. Then only the ordinary investor is ready to heed these lessons outlined in the book. In the same way, only after losing money consistently through the 'advice' of the advisors of your investment bank, do you realize that you don't need to pay money managers to 'take care' of your money. After the debacle of 2008, it has become gradually apparent to many that the whole system is smoke and mirrors and corrupt. Insider trading seems to be the dharma of Wall Street rather than an exception. So, De Legge's book can be enjoyed for its humor only by people who have been scarred by Wall Street. The ones who still have much of their money and not lost a lot of it in the stock market, ironically, might see Ron's book as that of a cynic and naysayer and hence dismiss it. That is the paradox of such books.
The book is a breezy and humorous read. Ron says, "Keep your cents and the money will follow". It is good advice to follow.
February 3, 2012
Whether you trade on Wall Street or are subject to the scary things that go on there, "Gents with no Cents" will sneak you in behind closed doors and challenge everything you ever thought went on in Wall Street and Corporate Board Rooms. Do you know what "Black Swans" are or a "flock of Black Pianos? Or the "hysterical tendencies of people" or "Scramble egg strategies for beginners?" Unlike Wall Street which is about as fumy as a hair shirt and as simple as an onion with worms; this book will have you laughing in spite of the stupidity of corporate geniuses who can't balance their checkbook with a $20 million computer and yet are holding your money or at least controlling your destiny. This book might not make you a billionaire but it might help you not to lose your shirt. This book might help you spot the bugs/parasites of Wall Street or even help you become one if you are so inclined. This is a quick read of excellent writing and full of humor. If you don't get fully educated you will certainly be fully entertained. - Frank L. Hicks Jr. MBA, JD, CPL Author Equine Little MBA.
April 22, 2012
I want to thank the Author for participating in the Goodreads Book Giveaway. I was happy to be a winner and receive a copy of Ron DeLegge II's book.
I enjoyed reading this non-fiction look at Wall Street and investing. actually found myself laughing as I was learning a little about the world of investing.
The poem that started on page 41 and ended on page 42 made me laugh so much. Brought back memories of how I felt a couple years ago when my investments were losing money. At the time I didn't find it funny, but the poem definitely helped me find the humor in it. Thanks for sharing it in your book.
I recommend this book "Gents With No Cents" to anyone who wants to learn how Wall Street and investments work that is written with humor but provides you with information.
Thanks!
I enjoyed reading this non-fiction look at Wall Street and investing. actually found myself laughing as I was learning a little about the world of investing.
The poem that started on page 41 and ended on page 42 made me laugh so much. Brought back memories of how I felt a couple years ago when my investments were losing money. At the time I didn't find it funny, but the poem definitely helped me find the humor in it. Thanks for sharing it in your book.
I recommend this book "Gents With No Cents" to anyone who wants to learn how Wall Street and investments work that is written with humor but provides you with information.
Thanks!
February 13, 2012
I won this book on a goodreads.com giveaway. I really enjoyed the humor in it. Throughout the book there were many lessons to be learned while being entertained by the tone of the book. This author did a wonderful job taking a subject that is not always easy to digest and making it into something fun to read.
October 18, 2017
I have to be honest, when I started this book I expected it to be either an expose' on the financial industry, or a book on investing... And I suppose it is. If you have any squeamishness about investing in wall street, this book is a book of humor seemingly intended to assist in fully putting you off investing. It goes over a lot of the stupid things that go on in the investing world, government and wall street without any solid information on how to correct it or what to do different. The book is amusing, but very negative in its presentation and you're kind of left with the impression that you should stick your money under your mattress... maybe the next book will blast the mattress industry.
July 26, 2013
*Good Reads Review*
I was contacted by Ron himself wondering if I would be interested in reading and reviewing his book, Gents with No Cents because I reviewed his last book, Wall Street Coloring Book. I could not turn down the opportunity of reading a new book. To be honest, I have never been interested in the stock market or how it works, but I took a leap into an unknown world. Starting on the first page, I devoured it quickly. The author made it easy for those that are not familiar of the complicated process of Wall Street to read and follow without getting lost in so many painful and numbing facts. With a little bit of humor, story comparisons and of course, his own words throughout the book, it was a pain free reading experience about the ups and downs of the market. Who knew there are so many jobs and processes in order for the stock market to function properly. If I was going to read a book about the stock market this would be the one I would prefer. Thank you for choosing me to review your book!
I was contacted by Ron himself wondering if I would be interested in reading and reviewing his book, Gents with No Cents because I reviewed his last book, Wall Street Coloring Book. I could not turn down the opportunity of reading a new book. To be honest, I have never been interested in the stock market or how it works, but I took a leap into an unknown world. Starting on the first page, I devoured it quickly. The author made it easy for those that are not familiar of the complicated process of Wall Street to read and follow without getting lost in so many painful and numbing facts. With a little bit of humor, story comparisons and of course, his own words throughout the book, it was a pain free reading experience about the ups and downs of the market. Who knew there are so many jobs and processes in order for the stock market to function properly. If I was going to read a book about the stock market this would be the one I would prefer. Thank you for choosing me to review your book!
June 8, 2012
full disclosure: review copy received via goodreads.
These sharp words of humor and wisdom capture the world of the financial gurus that run the Wall Street markets. In his keen observations, Ron DeLegge has been able to create insights into the the game plans of the players on Wall Street, financial institutions, and government. The timing of Gents with No Cents is perfect in light of the state of the current economy and bailouts. While it's sad to find the scathing behavior of the likes of Madoff, Ponzi, etc. true to life, Ron is able to remind all of us of the greed and dangers that exist and advises to prepare ourselves to walk wisely into the den. He tweeks his provocative approach with a good laugh or at least a smirk. Congrats, Ron, perhaps the Gents will come to their senses, in which case, I look forward to your insight.
These sharp words of humor and wisdom capture the world of the financial gurus that run the Wall Street markets. In his keen observations, Ron DeLegge has been able to create insights into the the game plans of the players on Wall Street, financial institutions, and government. The timing of Gents with No Cents is perfect in light of the state of the current economy and bailouts. While it's sad to find the scathing behavior of the likes of Madoff, Ponzi, etc. true to life, Ron is able to remind all of us of the greed and dangers that exist and advises to prepare ourselves to walk wisely into the den. He tweeks his provocative approach with a good laugh or at least a smirk. Congrats, Ron, perhaps the Gents will come to their senses, in which case, I look forward to your insight.
November 15, 2012
This book was mind blowing and frightful at the same time. Could you imagine going into surgery and your surgeon never having performed surgery and learned from watching YouTube videos? DeLugge takes us through what and who is running the money in this country and how it ultimately impacts us.
From Wall street personnel not knowing basic algebra to crazy clients, he uses his first hand knowledge as a prior Wall street salesman to mock and cajole Wall Street the best way he knows how; with humor. You won't be able to put this book down once you pick it up and you will be even more eager to share it with your friends with family.
This is a First Reads book.
May 24, 2013
This book was quite funny, offering numerous opportunities for a chuckle! He touches on (slams!) almost everything in the financial world...the reader might often be tempted to remark "Oh yeah, isn't that the truth!" Yeah, I liked it. (I'm not sure my financial advisor would though!)
I would like to add that I won this book in a Goodreads First Reads giveaway...& that it was great investment! Thank you!
I would like to add that I won this book in a Goodreads First Reads giveaway...& that it was great investment! Thank you!
September 16, 2012
Gents with No Cents is a humorous take on the ongoing disassociation between stock brokers and the general public. Great quick read showcasing all the chaotic craziness of everyday happenings on wall street. Supposedly if it doesn't make sense, you don't make cents. If it makes sense, you won't make cents, you'll make dollars.
With all that said, I wish Ron Delegge great success* in the future with his next books and overall destruction of the above said word.
With all that said, I wish Ron Delegge great success* in the future with his next books and overall destruction of the above said word.
September 11, 2012
Cutting comedic commentary about the corporate world and Wall Street. Most executives may not read this book because it's too much like looking into the mirror. If you want to be an investor include this one in your library before you try to decipher the corporate bafflegab.
February 7, 2012
A humorous and insightful look at wall street. I have never understood how it all works, and this was an easy to read, but smartly written guide. Recommended!
February 16, 2023
Excellent book!!!
Displaying 1 - 13 of 13 reviews