The Big Investment Lie
What Your Financial Advisor Doesn't Want You to Know
by:
Michael Edesess
in:
Investing
Summary:
The book exposes the fallacies and misleading advice often propagated by the financial services industry, arguing that many investment strategies sold to consumers do not outperform simple index funds. It provides insights into how financial advisors and firms profit from complex products and frequent trading, while advocating for a more straightforward, lower-cost approach to investing.
Key points:
1. Expertise Myth: Edesess claims financial advisors' ability to predict markets and pick winners is mostly a myth, as active funds rarely beat the market long-term.
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