Negotiating Your Investments: Use Proven Negotiation Methods to Enrich Your Financial Life

Negotiating Your Investments: Use Proven Negotiation Methods to Enrich Your Financial Life

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by Steven G. Blum
     
 

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Get smart about personal finance with the art and science of negotiation

Negotiating Your Investments is an in-depth guide to applying the principles of negotiation to your personal finances. With expert insight into the before, during, and after of a successful negotiation, you'll learn how to prepare for and conduct important financial

Overview

Get smart about personal finance with the art and science of negotiation

Negotiating Your Investments is an in-depth guide to applying the principles of negotiation to your personal finances. With expert insight into the before, during, and after of a successful negotiation, you'll learn how to prepare for and conduct important financial discussions with an eye toward getting the best possible outcome. The book contains practical, actionable guidance toward pursuing what you really want, and tools that can greatly improve your chances of getting it. Clear, concrete advice describes how to influence the other side, avoid being taken advantage of, and direct the conversation to your advantage.

As a rule, investors fail to negotiate over financial matters, to their great detriment. Improving returns, or reducing fees, by a mere 1 percent per year can make a remarkable difference in your bottom line. For example, a million dollar investment that returns 7.5 percent rather than 6.5 percent, over 30 years, will put an extra $2.1 million dollars in your pocket. On the other hand, that much money could easily go straight into someone else's purse. With that much money at stake, good negotiating practices become extremely valuable. Negotiating Your Investments provides the skills and tools you need to hold your own at the negotiating table while offering advice you can put to work immediately. Topics include:

  • The elements of negotiation – identifying goals, interests, commitments, alternatives, and power
  • Preparation, information exchange, bargaining, and closing and commitment – the four phases of negotiation
  • Asymmetric information, conflicts of interest, professionalism, and whom to trust
  • Investment vehicles and the economic science that lies behind wise investing
  • Hard economic truths involving past results, rational market pricing, diversification, interest rates, and the effect of costs on investment returns

While the focus is on personal finance, the book also includes techniques, analysis, and examples drawn from award winning negotiation courses. It explores the basic theoretical models of bargaining in depth. With Negotiating Your Investments, you'll gain the skills and confidence you need to be smarter, and get better outcomes, in both your financial affairs and the many other negotiations you conduct every day.

Product Details

ISBN-13:
9781118583074
Publisher:
Wiley
Publication date:
04/28/2014
Pages:
288
Sales rank:
1,154,227
Product dimensions:
6.10(w) x 9.10(h) x 1.00(d)

Meet the Author

STEVEN G. BLUM is an expert negotiator who works with corporations, individuals, and nonprofits to refine their negotiating techniques. He is a principal in the firm of Steven G. Blum and Associates, LLC, and has conducted seminars in the Executive Education Programs at the University of Pennsylvania and Harvard Law School. He has been teaching in the Department of Legal Studies and Business Ethics at the Wharton School of the University of Pennsylvania for over twenty years.

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Negotiating Your Investments: Use Proven Negotiation Methods to Enrich Your Financial Life 5 out of 5 based on 0 ratings. 3 reviews.
ndoshi More than 1 year ago
This book was phenomenal. Blum is able to bridge the divide between the 'traditional' negotiating skills in one's daily life with the negotiating skills required to effectively navigate your finances, and walks the reader through concrete steps to achieve success in both dimensions. Before reading this book, I didn't understand how the two were related, but Blum's convincing arguments in his chapters make these connections patently obvious. Blum's writing style is conversational, and thus makes his experiences at Harvard, Wharton, and his own law profession accessible to readers of all backgrounds. Furthermore, Blum's book is perfect for the busy reader, with its short chapters, summaries of the main takeaways, and personal anecdotes. This allows readers to engage with the material and extract the most value from his years of wisdom.  
JeevS More than 1 year ago
"Every interaction is a negotiation". Negotiation is a part of everyone's daily life - whether one is managing their financial portfolio, agreeing on new employment terms, or figuring out where to have dinner. Professor Blum masterfully weaves research based findings and real life stories to outline actionable techniques that can help lead to optimal results for you. He calls out many of the challenges investors / individuals face, including asymmetric information, deceptive practices, and conflict of interest. Negotiating Your Investments brings insights and knowledge, once only available to the privileged few of the Wharton School, to everyone. This book will not only make you a better investor, but it will give you a new perspective on how to approach all decisions.
Anonymous More than 1 year ago
Investing may seem like hard science to people who have dealt with it before, let alone those who have not had any prior experience with it. Similarly, "negotiating" may have negative connotations that might push individuals like myself to avoid it as much as possible. Finally, reading a book on both of these subjects may sound stressful or even painful for the reasons mentioned above.  Fortunately, Professor Blum does an amazing job turning both of these subjects into an enjoyable read. By sharing his personal experiences, stories, and combining theories from different academics and experts in both fields, he not only makes negotiating, investing, and 'negotiating investments' easy to grasp, but also teaches skills that are essential in both.  A highly recommended read for anyone wanting to improve their negotiation skills, bearing in mind that, as Professor Blum puts it, "every interaction is a negotiation".