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Did you know that nearly every financial scam, including Bernard Madoff's $65 billion Ponzi scheme, could have easily been avoided? Ken Fisher does, and now, in How to Smell a Rat, he arms you with five simple signs that can alert you to possible scams and help insulate you against financial fraud.
How to Smell a Rat is an informative look at recent and historic examples of fraudsters, how they operated, and how their scams could have been avoided. Page by page, this reliable resource highlights various features of potential fraud and provides you with an insider's view of how to spot financial disasters before you become a part of them.
Most investment scams can be easily detected and more easily avoided. While Bernard Madoff may be a criminal, the greater crime is that investors continue to be swindled for no reason. Pick up How to Smell a Rat, and learn how to protect yourself as best you can from financial fraud.
Acknowledgments vii
Introduction 1
Chapter 1 Good Fences Make Good Neighbors 11
Chapter 2 Too Good to Be True Usually Is 39
Chapter 3 Don't Be Blinded by Flashy Tactics 63
Chapter 4 Exclusivity, Marble, and Other Things That Don't Matter 87
Chapter 5 Due Diligence Is Your job, No One Else's 111
Chapter 6 A Financial Fraud-Free Future 137
Appendix A Asset Allocation-Risk & Reward 153
Appendix B Same But Different-Accounting Fraud 157
Appendix C Minds That Made the Market 161
Notes 195
Index 203
About the Authors 209
Anonymous
Posted August 28, 2009
Great book. Very useful, easy to read, actually funny in parts.
4 out of 4 people found this review helpful.
Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.RogerC1968
Posted September 1, 2009
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Picked this up at an airport and it kept me engrossed through my flight. With all the news about Madoff, it's easy to worry about who is and who might be the next Ponzi guy. But this book makes it very easy to do the right kind of due diligence. I also appreciated the historic examples and anecdotes. Who knew Joe Kennedy was such a chicken thief? Apparently FDR!
3 out of 3 people found this review helpful.
Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.MWalters
Posted September 2, 2009
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This book was excellent, to the point, and will be invaluable to me. I am taking it with me next Thursday when I am having a meeting with a possible money manager. I'm opening it a page 36 and asking those questions and checking his answers. Thanks to this book I will not be scammed.
2 out of 2 people found this review helpful.
Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.The unlamented year of 2008 was a terrible time for investors. The news that money wizard Bernie Madoff stole some $65 billion from his investment clients with a giant pyramid scheme added insult to injury. Though already in his 70s, Madoff received a 150-year prison sentence for his thievery. Many felt the punishment was too light. The world is full of crooks and charlatans like Madoff. Fortunately for investors, they often give themselves away if you know how to spot them. In this savvy manual, business journalist Ken Fisher (writing with investment expert Lara Hoffmans) details five warning signs that can reveal crooks posing as financial advisers. getAbstract recommends this book to investors who are suspicious and to those who ought to be.
1 out of 1 people found this review helpful.
Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.PFS65
Posted September 8, 2009
Picked this up just because the title seemed intriguing. Glad I did. I've retained some very valuable lessons on avoiding those situtaions that have the potential to end up like another Madoff. Besides the useful tips it was a snappy read, enjoyable and even funny. Glad I read it, and I recommend it highly.
1 out of 1 people found this review helpful.
Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.Stemline
Posted November 15, 2009
If this book were required reading in high school or college, loads of scamsters would be out of business. It is easy to follow and tells you exactly what you need to know to avoid most frauds.
Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.Anonymous
Posted October 26, 2009
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A good read for those who want to know how to avoid being wrong.
Was this review helpful? Yes NoThank you for your feedback. Report this reviewThank you, this review has been flagged.Anonymous
Posted June 10, 2010
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Anonymous
Posted April 8, 2011
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Anonymous
Posted December 26, 2009
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Overview
Did you know that nearly every financial scam, including Bernard Madoff's $65 billion Ponzi scheme, could have easily been avoided? Ken Fisher does, and now, in How to Smell a Rat, he arms you with five simple signs that can alert you to possible scams and help insulate you against financial fraud.
How to Smell a Rat is an informative look at recent and historic examples of fraudsters, how they operated, and how their scams could have been avoided. Page by page, this reliable ...