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End User License Agreement
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End User License Agreement
by Simon A. Lack
Wall Street Potholes
Title Page
Copyright
Dedication
Preface
Acknowledgments
Chapter 1: Non-traded REITs: A Security That Shouldn't Exist
Poor Advice
Why Not Get a Listing?
Disingenuous Advice
Whose Side Is Your Financial Advisor On?
Where Are the Regulators?
Overall Returns Are Poor
The Importance of Benchmarking
Puts and Calls
Financial Advisors Need to Do Better
Chapter 2: Why Investors Pay Too Much for Yield
The Mysteries of Closed-End Funds
Investors Can Overpay to Simplify Their Taxes
The HFT Tax
When Managers Run a Company for Themselves
The Ham Sandwich Test
If the Prospectus Says You'll Be Ripped Off, It Must Be Legal
Timing Is Everything
Chapter 3: Why Structured Notes Are Rarely the Best Choice
Caveat Emptor!
Structured Note Basics
Why Buy Structured Notes?
The Heart of the Matter: The Arguments Against
Chapter 4: Update to The Hedge Fund Mirage
Hedge Funds Remain a Great Business
Industry Reaction to the Dismal Truth
Why Hedge Funds Are Still Growing
Some Accounting Rules Are Dumb
Politics Drives Asset Flows
Too Much Capital
For Once, the Retail Investor Wasn't Duped
Chapter 5: Why Is Wall Street So Inefficient?
Why Is Finance So Expensive?
Trading Doesn't Build a Secure Retirement
Invest Time before Money
Sex and Investing
Complexity Sells
The Hidden Costs of Municipal Bonds
Some Bankers Just Don't Think
Chapter 6: The Un-Portfolio and Better Portfolio Management Techniques
Background
Un-Portfolios and Diversification
Fees and the Black-Box Models
Other Examples of Un-Portfolios
Exchange-Traded Funds
Mutual Funds and Fees
Load Funds
Fiduciary Duty
Portfolio Management Basics
Summary and Conclusion
Bonus Section
Chapter 7: Annuities
Introduction
What Is an Annuity?
What Are the Different Types of Annuities?
Variable Annuities
Associated Risks
Other Risks Are Lack of Flexibility
Variable Annuity Riders
Illiquidity, or the Lack of Being Able to Get to Your Money
Evaluation of Returns: Investment Options inside of Variable Annuities
Fee and Charges
Options If You Already Own an Annuity
When Should You Consider Using an Annuity?
Recent Developments with Annuities
Savings Bonds: Little-Known Good Deal
Chapter 8: Is the Most Important Professional in Your Life Even a Professional?
My Start as a Broker
Pressure to Generate Business
Why You Don't Invest with Borrowed Money
Has the Industry Made Any Progress?
Is Financial Advisory a Profession?
Why You Want a Fiduciary
More Things to Consider When You Choose Your Advisor
A Better Way to Measure Results
Chapter 9: Putting Investors First
The Future of Finance
Understand Who Your Advisor Works For
Really Understand the Fees
Try Asking These Questions
What Else Can Be Done?
The Role of CFA Institute
Bigger Isn't Always Better
About the Contributors
About the Author
Bibliography
Index
End User License Agreement
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WILEY END USER LICENSE AGREEMENT
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