How they're fleecing you
Written: Jul 14 '00 (Updated Jul 14 '00)
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Product Rating:
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Pros: Should scare you into keeping your money safe
Cons: Technical sections somewhat uneven
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| jorn's Full Review: Dumb Money: Adventures of a Day Trader Books |
Not being a fan of Suck.com, I expected this book to be all cynical wisecracks and little insight or research. Instead, I found it to be a perfectly sophisticated warning to the naive investor, that this bull market is not what it seems, and that the only people who stand to make money are those who know how to take advantage of the 'Dumb Money' investors of the title. (I don't think it's coincidence, either, that the 'u' in 'Dumb' is a pointing-finger cursor, reoriented so the finger is pointing at you!)
A turningpoint occurs early in the book, when Anuff reads a book on early stock market bubbles, and is realistic enough to to see the similarities to the situation today. From there on, he starts studying with 'masters' who acknowledge that most stocks are probably overvalued, but who play the market by anticipating the sheeplike stupidity of the Greater Fools-- the 'dumb money'.
I finished the book feeling like the major media ought to be the targets of a class action suit, because all they're doing with their cheerleading is tempting new suckers into the con game, where they can be neatly shorn of their hardearned whitecollar salaries.
Recommended:
Yes
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Epinions.com ID:
jorn
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Member: Jorn Barger
Location: Chicago, IL
Reviews written: 32
Trusted by: 61 members
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