Heads I Win, Tails I Win: Why Smart Investors Fail and How to Tilt the Odds in Your Favor

Heads I Win, Tails I Win: Why Smart Investors Fail and How to Tilt the Odds in Your Favor

by Spencer Jakab


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Heads I Win, Tails I Win: Why Smart Investors Fail and How to Tilt the Odds in Your Favor by Spencer Jakab

According to Wall Street Journal investing colum­nist Spencer Jakab, most of us have no idea how much money we’re leaving on the table—or that the average saver doesn’t come anywhere close to earning the “average” returns touted in those glossy brochures. We’re handicapped not only by psychological biases and a fear of missing out, but by an industry with multimillion-dollar marketing budgets and an eye on its own bottom line, not yours.
Unless you’re very handy, you probably don’t know how to fix your own car or give a family member a decent haircut. But most Americans are expected to be part-time fund managers. With a steady, livable pension check becoming a rarity, we’ve been entrusted with our own finances and, for the most part, failed miserably.
Since leaving his job as a top-rated stock ana­lyst to become an investing columnist, Jakab has watched his readers—and his family, friends, and colleagues—make the same mistakes again and again. He set out to evaluate the typical advice people get, from the clearly risky to the seemingly safe, to figure out where it all goes wrong and how they could do much better.
Blending entertaining stories with some sur­prising research, Jakab explains
·How a typical saver could have a retirement nest egg twice as large by being cheap and lazy.
·Why investors who put their savings with a high-performing mutual fund manager end up worse off than if they’d picked one who has struggled.
·The best way to cash in on your hunch that a recession is looming.
·How people who check their brokerage accounts frequently end up falling behind the market.
·Who isn’t nearly as good at investing as the media would have you think.
He also explains why you should never trust a World Cup–predicting octopus, why you shouldn’t invest in companies with an X or a Z in their names, and what to do if a time traveler offers you eco­nomic news from the future.
Whatever your level of expertise, Heads I Win, Tails I Win can help you vastly improve your odds of investment success.

Product Details

ISBN-13: 9780399563201
Publisher: Penguin Publishing Group
Publication date: 07/12/2016
Pages: 288
Sales rank: 636,547
Product dimensions: 6.30(w) x 9.10(h) x 1.20(d)

About the Author

SPENCER JAKAB writes for and edits the “Heard on the Street” col­umn for The Wall Street Journal and previously wrote its daily investing column, “Ahead of the Tape.” He has also written about investing for the Financial Times, Barron’s, and Dow Jones News­wires. Prior to becoming a journalist, he was a top-rated stock analyst covering emerging markets at Credit Suisse. This is his first book.

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Chapter One

Excerpted from "Heads I Win, Tails I Win"
by .
Copyright © 2016 Spencer Jakab.
Excerpted by permission of Penguin Publishing Group.
All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.
Excerpts are provided by Dial-A-Book Inc. solely for the personal use of visitors to this web site.

Table of Contents

Preface 1

Chapter 1 Lake Moneybegone 11

Chapter 2 Timing Isn't Everything 29

Chapter 3 Turning Lemons into Lemonade 45

Chapter 4 Who Wants to be a Billionaire? 65

Chapter 5 Actually, Timing Is Everything 85

Chapter 6 The Celebrity Cephalopod 97

Chapter 7 Seers and Seer Suckers 117

Chapter 8 Where are the Customers' Yachts? 148

Chapter 9 Heads I Win, Tails You Lose 163

Chapter 10 Seven Habits of Highly Ineffective Investors 177

Chapter 11 But Wait, There's More 216

Chapter 12 Far from the Maddening Crowd 231

Chapter 13 The Hungarian Grandma Indicator (Or Why You May Need an Advisor) 244

Chapter 14 Leaving Lake Honeybegone 253

Acknowledgments 259

Notes 263

Index 269

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Heads I Win, Tails I Win: Why Smart Investors Fail and How to Tilt the Odds in Your Favor 5 out of 5 based on 0 ratings. 1 reviews.
BES1 More than 1 year ago
I found this a rather entertaining and engaging book filled with personal anecdotes. The book was a pleasure to read and contained great investment advice. The author recommends investing in low cost index funds and letting them compound for years rather than more expensive strategies or the latest get rich quick scheme. I would recommend this book to anyone and everyone managing their own money and especially to anyone who is paying an investment advisor to manage their money for them.