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About the Author
As president and CEO of NetWorth Services, Nico Willis leverages his 15 years of experience in the financial services industry to oversee the strategic growth and development of the company. Among other things, Mr. Willis applied and received a patent for his proprietary software, NetBasis (after a lengthy 10-year process), an accurate, automated, efficient, cost basis solution with historical pricing and corporate action data going back as far as 1925. NetBasis identifies and automatically adjusts the cost basis for corporate actions, such as stock splits, mergers, spin-offs and dividend reinvestments that may have occurred during an investor�s holding period in seconds.
NetWorth Services offers a suite of cost basis and financial solutions which have been adopted by many leading financial institutions, government agencies, Fortune 500 organizations, universities and endowments, as well as individual investors. NetBasis provided the technology the IRS used to audit capital gains returns for its landmark 2005 Tax Gap Report. The results from that study were also used as a part of subsequent GAO Report. NetWorth Services is the only vendor company to ever partner with the IRS in this capacity.
Prior to founding NetWorth Services, Inc. in 1997, Mr. Willis was an investment broker who served in various executive management positions for several well-known financial institutions including Prudential Securities, UBS Paine Weber, and Piper Jaffray. He managed over $90 million in assets comprised of just individual investors. He began his career in the upper quintile ranking as a first-year broker and continued to accelerate his career each year.
Mr. Willis co-created and co-hosted a radio talk show called �The Wall Street Hour,� which featured financial news, related topics and influential guests.
Mr. Willis and NetWorth Solutions have been recognized as �Best of the Web� by Smart Computing Magazine, �Best Utility Technology� by Operations Magazine and Forbes Magazine called the NetBasis application �definitive.�
Table of Contents
TABLE OF CONTENTS
Part One: Death of the American Investor 1
Chapter 1: Ground Hog Day 3
Provides an introduction to the cyclical nature of the financial crises.
Chapter 2: Back to the Future 7
Examines the various stock market crashes, financial failures and bubbles, showing the similarities and cycles throughout the history of the NYSE.
Chapter 3: The Devil Made Me Do It 27
Provides details of four of the most recent Ponzi schemes, lessons learned, and how these have affected the American Investor.
Chapter 4: The Straw that Broke the Camel�s Back 39
A comprehensive overview of the current economy, stock market and fallout from the recent financial crisis (with the most up-to-date data), and how the American Investor has been affected.
Chapter 5: The Digital Society 63
Examines technology and technological issues that are and will affect the American Investor, such as Artificial Intelligence, Net Neutrality and the move toward a paperless society.
Chapter 6: What is Happening to the
American Investor? 81
Summarizes what has been learned in the previous Chapters and how it applies to the American Investor. Looks at demographics of the American Investor, day trading, globalization, and how the American Investor must understand themselves, the players and the game.
Part Two: The New Global eShareholder 99
Chapter 7: A Tale of Two Homes 101
This parable highlights the role of the American Investor in their own demise.
Chapter 8: What is a Global eShareholder? 105
Describes the transformation of the American Investor into the new global eShareholder. Introduces the four �Es� that are expanded upon in the remaining Chapters: Education, Expectations, Execution, and Empowerment.
Chapter 9: Education 119
Familiarizes the global eShareholder with the game, the playing field and the players.
Chapter 10: Expectation 173
Examines how an investor defines goals, establishes their team, makes the rules, and identifies safeguard and expendable funds.
Chapter 11: Execution 193
Explores how to build or rebuild the investment portfolio and explores asset allocation management. It helps the investor to develop investment strategies and rebalance risk exposure, and explains leverage, cost basis, commodities, tax optimization and more.
Chapter 12: Empowerment 229