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The Little Book of Market Myths: How to Profit by Avoiding the Investing Mistakes Everyone Else Makes

ISBN: 978-1-118-44501-3
224 pages
January 2013
The Little Book of Market Myths: How to Profit by Avoiding the Investing Mistakes Everyone Else Makes (1118445015) cover image
Exposes the truth about common investing myths and misconceptions and shows you how the truth shall set you free—to reap greater long-term and short-term gains

Everybody knows that a strong dollar equals a strong economy, bonds are safer than stocks, gold is a safe investment and that high PEs signal high risk...right? While such "common-sense" rules of thumb may work for a time as investment strategies, as New York Times and Wall Street Journal bestselling author, Ken Fisher, vividly demonstrates in this wise, informative, wholly entertaining new book, they'll always let you down in the long run. Ken exposes some of the most common—and deadly—myths investors swear by, and he demonstrates why the rules-of-thumb approach to investing may be robbing you of the kinds returns you hope for.

  • Dubbed by Investment Advisor magazine one of the 30 most influential individuals of the last three decades, Fisher is Chairman, and CEO of a global money management firm with over $32 billion under management
  • Fisher's Forbes column, "Portfolio Strategy," has been an extremely popular fixture in Forbes for more than a quarter century thanks to his many high-profile calls
  • Brings together the best "bunks" by Wall Street's Master Debunker in a fun, easy-to-digest, bite-size format
  • More than just a list of myths, Fisher meticulously explains of why each commonly held belief or strategy is dead wrong and how damaging it can be to your financial health
  • Armed with this book, investors can immediately identify major errors they may be committing and adjust their strategies for greater investing success
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Preface ix

Chapter One Bonds Are Safer Than Stocks 1

Chapter Two Asset Allocation Short-Cuts 17

Chapter Three Volatility and Only Volatility 27

Chapter Four More Volatile Than Ever 37

Chapter Five The Holy Grail—Capital Preservation and Growth 49

Chapter Six The GDP–Stock Mismatch Crash 55

Chapter Seven 10% Forever! 67

Chapter Eight High Dividends for Sure Income 75

Chapter Nine The Perma-Superiority of Small-Cap Value 83

Chapter Ten Wait Until You’re Sure 93

Chapter Eleven Stop-Losses Stop Losses 105

Chapter Twelve High Unemployment Kills Stocks 113

Chapter Thirteen Over-Indebted America 131

Chapter Fourteen Strong Dollar, Strong Stocks 153

Chapter Fifteen Turmoil Troubles Stocks 161

Chapter Sixteen News You Can Use 171

Chapter Seventeen Too Good to Be True 181

Notes 191

Acknowledgments 201

About the Authors 205

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KEN FISHER is best known for his prestigious "Portfolio Strategy" column in Forbes magazine, where his over 28-year tenure of high-profile calls makes him the fourth longest-running columnist in Forbes's 90-plus-year history. He is the founder, Chairman and CEO of Fisher Investments, an independent global money management firm managing tens of billions for individuals and institutions globally. Fisher is ranked #271 on the 2012 Forbes 400 list of richest Americans and #764 on the 2012 Forbes Global Billionaire list. In 2010, Investment Advisor magazine named him among the 30 most influential individuals of the last three decades. Fisher has authored numerous professional and scholarly articles, including the award-winning "Cognitive Biases in Market Forecasting." He has also published nine previous books, including national bestsellers The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat, Debunkery and Markets Never Forget (But People Do), all published by Wiley. Fisher has been published, interviewed and/or written about in many major American, British and German finance or business periodicals. He has a weekly column in Focus Money, Germany's leading weekly finance and business magazine.

LARA HOFFMANS is Vice President of Content at Fisher Investments, managing editor of MarketMinder.com, a regular contributor to Forbes.com and coauthor of the bestsellers, The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat, Debunkery and Markets Never Forget (But People Do).

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February 22, 2013
The Little Book of Market Myths: How to Profit by Avoiding the Investing Mistakes Everyone Else Makes

Ken Fisher, five-time New York Times bestselling author, 28-year Forbes columnist, and Fisher Investments Founder and CEO, publishes his tenth book, co-authored by Lara Hoffmans: The Little Book of Market Myths: How to Profit by Avoiding the Investing Mistakes Everyone Else Makes (Wiley; February 2013; Hardcover and eBook).  

Everybody knows that a strong dollar equals a strong economy, bonds are safer than stocks, stocks are more volatile now and stop-losses are a smart, money-saving tactic . . . right?

These are just a few widely believed but potentially dangerous market myths New York Times and Wall Street Journal bestselling author Ken Fisher dismantles in this wise, informative, wholly entertaining new book.

As a long-term Forbes columnist and CEO of a global money management firm managing tens of billions of dollars for high-net-worth individuals and institutions, Ken knows a thing or two about what works and what's bunk when it comes to investing wisdom.

Bringing together some of Ken's best myth debunking and market sleuthing of the past twenty-five years, in an easy-to-digest, bite-sized format, The Little Book of Market Myths (Wiley/Fisher Investments Press; February 2013; hardcover and e-book) exposes some of the most common—and deadly—myths investors swear by. And he demonstrates why subscribing to the rule-of-thumb approach to investing could prevent you from reaching your long-term investing goals.

But this book is more than just a list of myths. One after another, Ken takes each commonly held belief or "surefire" strategy and explains why the myth persists, why it doesn't work and just how damaging it can be to your financial health. And each chapter is a primer on how you can apply the same "debunking" tactics yourself, now and for the rest of your investing time horizon.

Whether you're a novice investor or a longtime veteran, this book arms you with priceless insights to help you identify major errors you may be committing and help you see the world clearer—so you can improve your investing results.

Fun, insightful, at times, irreverent, The Little Book of Investing Myths offers vivid proof of the old adage "the truth shall set you free"—to increase the odds you achieve your long-term investing goals.

KEN FISHER is best known for his prestigious "Portfolio Strategy" column in Forbes magazine, where his over 28-year tenure of high-profile calls makes him the fourth longest-running columnist in Forbes's 90-plus-year history. He is the founder, Chairman and CEO of Fisher Investments, an independent global money management firm managing tens of billions for individuals and institutions globally. Fisher is ranked #263 on the 2011 Forbes 400 list of richest Americans and #764 on the 2012 Forbes Global Billionaire list. In 2010, Investment Advisor magazine named him among the 30 most influential individuals of the last three decades. Fisher has authored numerous professional and scholarly articles, including the award-winning "Cognitive Biases in Market Forecasting." He has also published eight previous books, including national bestsellers The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat, Debunkery and Markets Never Forget (But People Do), all published by Wiley. Fisher has been published, interviewed and/or written about in many major American, British and German finance or business periodicals. He has a weekly column in Focus Money, Germany's leading weekly finance and business magazine.

LARA HOFFMANS is Vice President of Content at Fisher Investments, managing editor of MarketMinder.com, a regular contributor to Forbes.com and coauthor of the national bestsellers, The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat, Debunkery and Markets Never Forget (But People Do).

About Fisher Investments

Founded in 1979, Fisher Investments is an independent, privately-owned money management firm with tens of billions under management. Fisher Investments maintains two principal business units, Fisher Investments Institutional Group and Fisher Investments Private Client Group, which serve a global client base of diverse investors including over 100 large institutions and over 25,000 high net worth individuals. Founder and CEO Ken Fisher has written the Forbes “Portfolio Strategy” column for 28 years, has written 9 books on investing and personal finance (4 of which are New York Times bestsellers), and in 2010 was named by Investment Advisor magazine as one of the 30 most influential industry individuals in the last 30 years (Thirty for Thirty, May 2010).

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