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 portfolioand 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 adviserbefore the next meltdown.
Nobody else on Wall Street ever dared to create anything like it. Wealth Mismanagement will empower investors to protect themselves.
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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.
Read by Traber Burns, Rachel Fulginiti, Keith Szarabajka, Mark Ashby, Tanya Eby, Kate Rudd, Joe Barrett, Thom Rivera, Hillary Huber, Erin Spencer, Elizabeth Wiley, Caroline Shaffer, Emily Sutton-Smith, Johnny Heller, Emily Woo Zeller, and R. C. Bray
Table of Contents
DEDICATIONFOREWARDINTRODUCING THE CHIP SCOREGOLDEN RETRIEVERSCHAPTER 01CATCH HIM IF YOU CANA GIRL LIKE THATHERE'S THE DEALTWO DECADES OF INSIGHTSCHAPTER 02WHO THE HELL IS THIS GUYCHAPTER 03BROKEN PORTFOLIOSANTICIPATION IS PREPARATIONRISK #1: INFLATION RISKRISK #2: CAPITAL RISKRISK #3:CORRELATION RISKRISK #4 LIQUIDITY RISKRISK #5 HORIZON RISKRISK #6: CURRENCY RISKRISK #7 CREDIT RISKRISK #8: LONGEVITY RISKCHAPTER 03CHAPTER 04QUANTIFYING RISKTOO GOOD TO BE TRUECHAPTER 05WHERE THE HELL HAVE YOU BEENA LARCENOUS VILLAINGAME OF EXPECTATIONSCHAPTER 06A DORMANT DRAGONTHE FIX IS INTAKING A DOUBLE HIT CHAPTER 07AN ELUSIVE ASSETWHAT REALLY COUNTSCOINCIDENCE OF CORRELATIONCHAPTER 08HARD MONEY LOANSFACTORINGDIAMONDSGOLD AND SILVERPRIVATE EQUITY AND VENTURE CAPITALEMERGING MARKETS DEBTREAL ESTATE INVESTMENT TRUSTSPREFERRED STOCKSMANAGED FUTURESCOMMODITIESARBITRAGEMASTER LIMITED PARTNERSHIPBUSINESS DEVELOPMENT COMPLONG SHORT EQUITYEVENT DRIVENMONEY MARKET FUNDSMONEY MARKET FUNDSCHAPTER 09GOVERNMENT BONDSOTHER KINDS OF BONDSBOND RISKS REVISITEDCHAPTER 10REAL RATE OF RETURNMANAGEMENT FEES AND TAXESCHAPTER 11CHAPTER 12FIRST SAMPLE PORTFOLIO