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The Lies About Money: Why You Need to Own the Portfolio of the Future | 
| Author: Ric Edelman
Publisher: Free Press
Category: Book
List Price: $16.00
Buy New: $9.44
You Save: $6.56 (41%)
New (25) Used (8) from $9.34
Avg. Customer Rating:  34 reviews
Sales Rank: 8757
Media: Paperback
Edition: Reprint
Number Of Items: 1
Pages: 336
Shipping Weight (lbs): 1.3
Dimensions (in): 8.9 x 7.3 x 0.9
ISBN: 1416543120
Dewey Decimal Number: 650
EAN: 9781416543121
ASIN: 1416543120
Publication Date: October 14, 2008
Availability: Usually ships in 1-2 business days
Shipping: International shipping available
Condition: Brand new item. Over 4 million customers served. Order now. Selling online since 1995. Order with confidence. Code: B20090105231050T
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Product Description
RIC EDELMAN has helped more people achieve financial success than any other practicing financial advisor. In 2007, Wealth Manager magazine listed his firm as the largest in terms of number of clients. Barron's four times named him among America's top 100 financial advisors in the country, and in 2004, Ric was inducted into the Financial Advisor Hall of Fame. His books have a million copies in print, including several foreign languages, and have topped the New York Times bestseller list. His national radio show, PBS television specials, syndicated newspaper column, and award-winning Web sites make him a house-hold name. Consumers love Ric's unconventional yet common-sense approach to investing and personal finance. He revealed how everyday Americans achieve financial security in the #1 New York Times bestseller Ordinary People, Extraordinary Wealth. His first bestselling book, the personal financial classic The Truth About Money, was named Book of the Year. Now, Ric reveals the deceptive and manipulative business practices occurring in your retail mutual funds -- practices that are causing you to suffer higher fees, greater risks, and lower returns than you realize. In The Lies About Money, Ric's provocative new work, he offers you a detailed yet easy-to-follow plan that lets you take back control of your investments -- and your financial future. Ric's unparalleled ability to explain complex financial concepts in a fun and entertaining way resonates with readers. In this book -- his first in more than five years -- he shares his most valuable lessons gained through two decades of working directly with individuals and families. He reveals the lies that have infiltrated your retail mutual funds and retirement accounts, and teaches you how to invest your money in your employer retirement plan, how to save for college, and for those who are retired, how to generate more income without sacrificing security. He shows you that proper money management has nothing to do with "hot tips" and everything to do with scientific analysis, bolstered by solid academic research and historical data. Ric explains exactly how the mutual fund scandal has caused him to change the way he manages his own money and the money entrusted to his firm by thousands of clients nationwide. Along the way, Ric shows you the secrets to investment success -- a long-term focus, the importance of diversification, and the crucial need for (and methods of) portfolio rebalancing. And the book doesn't stop there -- it will actually help you build an investment portfolio, one designed specifically around your needs. The book features a 24-page color insert containing 43 portfolio models, each based on the Edelman Managed Asset Program, one of the largest and fastest-growing money management programs in the country. Ric's fun, interactive Guide to Portfolio Selection will lead you on a fascinating journey through the book's pages, taking you to the portfolio that's right for you! With insight and strategies that will change people's lives, The Lies About Money offers the truth that everyone is looking for.
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| Customer Reviews: Read 29 more reviews...
 Huge ado about nothing December 18, 2008
1 out of 1 found this review helpful
Well, since all the interviews and huge sales of this book, I've now heard all the new ads.
I think that Ric is pretty phony and just trying to get new customers.
This entire book can be summed up to say that no one involved in the entire mutual fund industry should make any money, except for Ric.
The amount of fees involved in a mutual fund with minimal or no "load" vs the "exchange traded funds" is almost nothing. I care far more about paying a fund manager who works his butt off and will make me some money. Why doesn't a fund manager deserve to make an income?
Ric presents himself as being brilliant and thinking outside the box to come up with this book and the rant against everyone else. Bull.
 The Light at the End of the Tunnel Isn't a Train November 23, 2008
I am writing this review because, the review I wrote preceding this one (The Little Book of Bull Moves in Bear Markets - Peter Schiff) was overwhelmingly bleak in context.
Mr. Edelman offers hope to us all. Start big or small, but start. Invest for the long-run. Don't jump in and out of the market (timing doesn't work). And [Spoiler Alert!] the big secret to pile up good returns over time is to: 1) minimize portfolio costs, i.e. management fees, and 2) utilize ETFs rather than mutual funds.
A fun segment of the book includes the mutual fund scandal timeline where you get a thumbnail sketch of those shenanigans.
 Good, simple explanation of things to watch out for September 25, 2008
1 out of 1 found this review helpful
Though maybe a tad longer than it could have been, Ric Edelman does a good job of discussing the perils of mutual funds and what to look out for when investing. He makes occasional arguments for hiring financial advisers, but always states that he is not trying to make a case for hiring him. His sections are short, simple, easy to read and provide a relatively straightforward explanation of the topics. There's a whole theory section on assessing risk that was probably unnecessary, but he warns readers that they are free to skip it. There's an enormous section that is simply a day-by-day timeline of mutual fund scandals that is incredibly tedious and makes its point three pages in (so the other 20 or so are just a waste of paper). Pick it up and read it on a plane, you'll finish quickly and have learned a thing or two.
 A great way to save money--don't buy it. September 7, 2008
2 out of 2 found this review helpful
This book is largely self-serving. The author shows how hard it is for ordinary people to invest wisely, so that they need investment advisors like him.
His advice to have a wide diversity of investments is contrary to Warren Buffet's technique: own a small amount of investments and study them carefully.
I found this book extremely useful July 28, 2008
2 out of 3 found this review helpful
This book led me to a major change in my retirement investment strategy.
I had already rolled my various 401(k) plans into IRAs. I had a mix of index mutual funds and individual stocks. But reading this book crystallized for me what the problems were with that.
Although it is true he makes a big pitch for institutional mutual funds, which you can only get from a company like his, he does say you can "do it yourself" with ETFs.
For me it was not a big deal to go to his website for a more tailored asset allocation -- which was free by the way. Then I did some research to map those asset classes to specific ETFs.
The biggest benefit is that I no longer have to agonize about if I am in the right stock or if I should get out of a stock and what should I replace it with. With the market down so much lately, I am able to keep on track and not sell based on fear. All I have to do is apply a constant ratio approach to re-balancing and that's it.
I have done this for the last 3 1/2 months and I am barely down (< 1%) compared to the S&P 500 down 10%. So far so good. Using his approach, you can see the rotation in and out of different asset classes and not worry -- you are in all of them!
As for the sales pitch, I could imagine someone not having the time and inclination to do their own investments and they would benefit from his company's services.
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