Wealth Mismanagement: A Wall Street Insider On the Dirty Secrets of Financial Advisers and How to Protect Your Portfolio

by Ed Butowsky, Dennis Kneale (Editor)

Overview

Are your life’s savings safe? A Wall Street insider reveals fatal flaws and hidden risks of wealth management and unveils a new system for protecting your portfolio—and firing your financial adviser.

Millions of us are committing a slow, imperceptible form of financial suicide.

Chances are your IRA or 401(k) carries far more risk than you realize, lacks real diversification that could reduce downside risk, and is falling behind the underreported rate of inflation that eats away at your retirement fund every year.

In the next market crash, you could be left vulnerable and unprotected.

Wall Street financial advisers are supposed to build and preserve your wealth, yet they are untrained in portfolio construction and how to contain risk and bulletproof your investments. They charge high fees and sometimes put their own interests ahead of yours.

Now Ed Butowsky, a Wall Street insider who spent two decades as one of the top producers at the fabled firm of Morgan Stanley & Co., breaks from the pack to reveal the flaws, fibs and failings of financial advisers. To fix this mess, he has created the new CHIP Score to empower you to evaluate the potential for Risk & Reward in your portfolio and grade your adviser—before the next meltdown.

Nobody else on Wall Street ever dared to create anything like it. Wealth Mismanagement will empower investors to protect themselves. Read it & reap.

Product Details

ISBN-13:	9781642932348
Publisher:	Post Hill Press
Publication date:	08/13/2019
Pages:	176
Product dimensions:	5.90(w) x 9.00(h) x 0.80(d)

About the Author

Ed Butowsky is the founder and managing partner of Chapwood Investments in Plano, Texas, advising professional athletes, CEOs, entrepreneurs, and other investors in how to build and preserve their wealth. He spent eighteen years at Morgan Stanley & Co. before founding his own firm. He is a frequent markets guest on Fox News Channel, Fox Business Network, CNBC, and Bloomberg TV, and is known for his blunt and contrarian views.

Dennis Kneale is a writer and media strategist in New York. He started his career at The Wall Street Journal, served as managing editor of Forbes magazine, and was an anchor at CNBC and Fox Business Network. In the Great Meltdown of 2008, he urged viewers to resume buying stocks just one month after the market hit bottom, and in June 2009 he correctly predicted the end of the Great Recession and the recovery that followed.

Table of Contents

Foreword xi

Chapter 1 Wary from the Start 1

Chapter 2 Growing Disillusionment 16

Chapter 3 Risk and Ignorance 24

Chapter 4 Deviant Behavior 37

Chapter 5 Understating COLA 46

Chapter 6 CPI and the Big Lie 61

Chapter 7 Portfolio Construction 74

Chapter 8 Non-Correlated Assets 86

Chapter 9 The Skinny on Bonds 100

Chapter 10 Real Rate of Return 116

Chapter 11 Allocating Your Assets 126

Chapter 12 Deploying the CHIP Score 139

About the Author 153

Editorial Reviews

I have known Ed for over forty years and he has always had an empathy chip that has served his clients well and allowed him to rise as one of the financial services industries stars. This book is the best at helping investors determine if what they have is what they need.

Dennis Greenwald

Ed has written a very down to earth, easy-to-read book that will benefit everyone, regardless of net worth. I encourage all to read this and adopt the CHIP score in all your investment decisions.

Peter Berg

Ed Butowsky’s Wealth Mismanagement provides investors with a practical and meaningful approach to creating an investment portfolio that will meet individual needs in retirement or otherwise. Often using autobiographical anecdotes, Ed provides an easy to understand, unvarnished review of why individual investment portfolios proffered by Wall Street institutions frequently fall shy of meeting an investor’s long-term financial needs, and how to remedy that circumstance.

If you are interested in preserving and enhancing your wealth over time, I recommend you buy and study this book.

John Williams

Ed is a good friend and mentor who has taught me a lot about finances. It’s always good when you can sleep well at night knowing your money is in good hands. This is must-read book and it will help you navigate through the fears we all have about investments.

Torii Hunter

I have been a client of Ed’s for nearly twenty years. He has always put my interest first and this book puts the investor’s interest first. After reading this book, you will understand if you have what you need in your portfolio. A fantastic read and one that will keep all financial advisors on their heels.

Joe Phillips

I have never had bad financial advice from Ed—he is always spot on and ahead of the pack. This book is one not to miss.

Lara Logan

Ed’s not afraid to tell the truth. This book proves it. I have trusted and relied on Ed for years and he has always stood by his word. Pick up this book and see if your current portfolio has the characteristics you were needing.

Kris "Tanto" Paronto

If you have ever wondered how to truly evaluate how good of a job your advisor is actually doing, Ed’s book provides you with the tools necessary to find out. His candid insight reveals the lack of true risk mitigation being provided by many advisors in the industry today. It is a must read for anyone concerned with protecting their assets.

Benjamin Fujihara