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Avoid Wall Street Inside $ Players
and Boost Your Investing Bottom Line

by Earl J. Weinreb

Publication update is scheduled for December, 2015

Some quotes from the author, about the book:

The Inside Players to be avoided are those whose primary interest (despite their rhetoric) is to make big money for themselves. In the process they leave little on the table, or percentages for their clients. Who are they? The high-cost brokers, the hedge funds, the high-cost mutual funds, the takeover folks, the inept analysts, and others who from time-to-time take on the mantle of Inside Players.

Do not depend on the business and financial media to help. They are, in fact a major hindrance and are not truly independent. They may not always have the same goals as individual investors. And essentially, are mostly bumbling. Too many of the pundits can put words together but are the proverbial sour milk masquerading as sweet cream. They still look past the real basic causes of the recent Financial Meltdown.

Money-making tricks are not what you believe them to be: This book is not the usual how-to financial or business tome. I will not tell you how to outsmart hundreds of thousands of other investors with special strategies, since I can say I have analyzed so many. But based on what I will say about Inside Players, and how they operate, you will save possibly up to 20% of your earnings right away. Without being a genius or having to learn fresh or new financial tricks. Conceivably up to 50% and more each year that you keep away from those Inside Players you may now be dealing with! And that is without telling you about other aspects about investing I have learned. Those that have to do with strategies and the discipline that really makes strategy effective.

Read about The Billionaire How-To Myth, including what you feel you know about Bill Gates and Warren Buffett.

The public has had its financial basics poorly taught by Wall Street and the financial media. So it always is looking for confirmation of that dubious input. As a result, it continues to buy pap. And garbage often sells like proverbial hot cakes. Gobbled up by the same unwary and gullible folks who buy similar gibberish and fantasy that Wall Street throws at them every day. A constant generation of new authors appear, but they offer the same, lame messages, mere rehash of the old panaceas that lead nowhere.

Most investors do not realize how politics arise in financial and business matters. When I read the financial section of left-of-center newspapers that permit editorial policy to mingle with news divisions (many major newspapers do this) I find financial slant unmistakable. Leave out a fact here, or emphasize an unimportant point there, and you have essentially changed the story. Too many comments most commentators know so little about, are mostly politicized. Economist opinions are often heavily colored by politics. Those in business and finance are similarly subjected, to a degree.

There is often a conflict of interest in financial circles if a commentator who relies on advertising faces a decision about criticizing a would-be or current sponsor. If they are not procuring ads from a third party, they are nonetheless selling something. They want the reader or listener to buy advisory or brokerage services.

Any money manager or hedge fund operator or professional who professes a belief in stock values, claims to be a follower of Benjamin Graham. But Pure Graham or what I call Adaptive Graham devotees can become just as disoriented as the rest. Valuation analysis is involved only in the selection and not in the sale of securities. It lays down the law, so to speak, for a screening process.

Working capital position, debt ratios, price/earnings, etc. are not prime market stimulators for a sale consideration. Prime market movers are those which can present a comparatively sharp signal. Graham would sometimes sell when the price of a stock doubled. This is not a disciplined form of sale that can be found in a chosen strategy. By the way, in later life, Graham did say that he made his big money primarily from his timely investment in the initial stages of a major insurance company.

Warren Buffett, a onetime student of Graham, is also a guru to those who claim to be faithful to his principles, in lip service, rather than deed. Buffett actions are not always easily explained by his past doctrines. His successes cannot be freely duplicated by average investors anyway because of the size advantage of his business and personal portfolio.

The only reason why Inside Players get away with overcharging investors is that their fees look small only to the uninformed. Take a pencil to paper or a calculator in hand and what appears negligible at first soon becomes an enormous percentage of your overall investment income. And then you pay for advice upon advice. So that added cost mounts and mounts. You may not realize how many Inside Players have a well-meaning hand in your wallet. EACH YEAR.

The book is meant to be easily and effectively used by all types of investors, either rank amateurs, or those with some investment experience, and even top-level professionals who have been on Wall Street for years and who have heard all the old axioms and adages that come from the Inside Players. Remember the latter are there for their own primary benefit and not that for the prime interest of investors.