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I recently read a book entitled "Jackass Investing" by Michael Dever. In it he debunk "investing Myths." What is your opinion of the book?

I was thinking about using the portfolios he gave at the end of the book as a basis for a investing account I want to open.

Aug 14, 2012 by Matthew from Norwalk, CA in  |  Flag
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Active managers are constantly searching for ideas and strategies that "beat the market," which seems to be the premise of Mr. Dever's book. There are any number of outstanding investors who have indeed found an edge, and some of them write books; Mr. Dever may be one of them. But there also are a huge number of false positives (investors or managers who think they have an edge but don't really). They write books too. It takes time and expertise to separate the wheat from the chaff, and nobody gets it right all of the time.

For these reasons I would advise you to keep reading. If you would like some ideas on other titles, I expect that many advisors on this forum have their own favorites and would be happy to share them with you.

Comment   |  Flag   |  Aug 14, 2012 from San Francisco, CA

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Eric Level 17

Matthew. First let me say I am glad you are asking investment advisors their opinion prior to just jumping in head first. Full disclosure on this answer, I have not read the book. I only can pose a question to you that may give you the answer you seek. If I were an investor that had the perfect solution to investing, why would I take time away from investing or raising assets to write a book? Typically you see books written by past industry professionals. My advice is read it with a grain of salt. All money managers that are truly incredible at investing, keep investing. Those that aren't write books for money, because they could not continue to outperform. This is my two cents and good luck.

View all 5 Comments   |  Flag   |  Aug 14, 2012 from Denver, CO

I went to My Marketwatch and opened a virtual account. I have set the account up to follow the strategy written in the aforementioned book. I look forward to seeing the results however they turn out.

Flag |  Aug 21, 2012 near Norwalk, CA

Hmmm, well if you haven't read the book you definitely can not speak towards how good it is. And I do not like seeing you casting negative aspersions at someone who took the time to write a book to inform us average Joe investors solely for the reason of "why would he take time away from investing or raising assets to write a book?". I have found his book to mesh very well with what I have seen about irrational investing over the years that I have been investing. Then to have concrete suggestions that I can practice in my practice account at www.UpDown.com before I trade for real with them is a god send.

Flag |  Nov 30, 2012 near Austin, TX

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