Book Description
Valuable secrets every investor should know to protect his or her assets.
The public has been bombarded with the many benefits of investing, yet only a fraction of investors understand how brokerage firms bend and even break the rules. Even fewer realize they have been defrauded and take action.
Tracy Pride Stoneman, an abritration lawyer, and Douglas J. Schulz, a former broker, have written the book that every investor should read. Despite being the most regulated industry in the country, the securities business consistently bends and breaks the rules. The authors reveal what those ""buy,"" ""sell,"" and ""hold"" recommendations really mean, the widespread conflicts of interest, and the most common abuses among brokerage firms. Stoneman and Shulz also discribe what investors can do to recoup any losses.
Customer Reviews:
Shows you the games many broker play to take your money.......2004-01-09
So, you think you broker is honest, maybe not!
The book explains that yes brokers are concerned about making you money, but they are more concered about making money off of you first.
The book explains how investment firms pressure their
stock brokers (aka financial analysts, money managers)
into creating as many "hidden" charges off your account as possible.
One big think the book points out is to watch for excessive
trading and the "hidden" cost of spreads and mark ups and mark downs.
One really good point was about the use of margin.
Most brokers do not explain to their clients the costs and
risks associated with the use of magin( borrowing money to buy
more stocks.)
One hidden cost of margin involves Flat Fee accounts where the money you borrow (and pay a good rate of intrest on) increases
the amount of assets in you flat fee acount, so you pay that
1 or 2% flat fee on the margin too.
Another key point in the book is ask you broker to tell you
what all you expenses total to as a percent of your assets.
You may be suprised how much they reall charge you.
You may not be so happy with your broker when you realize, yes
they made you a 15% return this year, but the market average(at same risk at you assets) returned 25% for the year.
And your broker only got your broker did not have you invested
in those assets that would have given you higher return becuasse
he got a bigger commission ( or hidden costs) on the assets that made you less money.
Many many games revealed about your "honest" broker.
The book has a little fluff so it could be a bit shorter, but the book is full of the many tricks your broker maybe using on you.
So for starters:
Stop your broker from usng high risk high commision product
(lke futures).
Stop your broker from using margin ( borrowed money).
Stop your borker from trading too much with too little reutrn.
Books gives a current and accurate picture of brokers,
on Jan 13,2004 a story on the front of the NY Times and
the Wall Street Journal stated Morgan Stanley was finded
for getting kick backs from sell certain mutual funds.
And in Sept 2003 Morgan Stanley was fined for holding
contests to see who sold the most of Morgan Stanley Products.
Know Others Before Thyself........2003-07-13
In many things it is better to say "Know thyself" but if you have a brokerage account it is best to say "Know others before thyself." This is a wonderfully concise and insightful book. The authors are able to convey their in-depth knowledge in an understandable and direct manner. They describe what to look for, how to detect it, and what action to take if you suspect brokerage misconduct. This book will educate as well as hold your interest.
Kudos.......2003-07-09
Tracy Pride Stoneman and Douglas Schulz were way out ahead of the Wall Street fraud/conflict of interest cases at the big brokerage firms. This book basically tells you what you should look for in brokers (and in most cases, the brokers don't want you to know). It really goes back to the old credo "buyer beware". As in selecting any service, you must perform due dillegence in researching and selecting a good broker and the products that are right for your investment goals and strategies. This book tells you how to do this in simple straightforward langauge. Great information here! Excellent on-line trading information and what to do and expect if you do have problems. Information is power and this book is definitley a POWER BOOSTER!
Opportunistic Without Complete Accuracy.......2002-10-07
I was disappointed to find several errors I believe would not be made by people with real expertise in the brokerage industry. On page 34 the authors contend that analysts "work in the investment banking departments of such large firms as Merrill Lynch, Prudential, and Bear Stearns." Actually, the analysts work in the Equity Research Departments of those firms, which are separate (although they interact with Investment Banking Departments at Merrill and Bear). Prudential advertises today that it does not do any investment banking and therefore has no conflict with research.
Page 41 says "Analysts hold no brokerage licenses. Therefore, no securities rule or regulation applies to them." These statements could not be more wrong. I do not know any analyst that does not hold series 7 and 63 licenses. I do not know of any brokerage firm that allows its analysts to publish research without first having passed the series 7 and 63 exams. There could be small, regional firms that permit this, but the major firms require their analysts to be registered representatives. The authors repeat their mistake on page 74.
The math on page 176 does not work for the "spread" issue. The authors obviously did not proof the offer price, which should have been $10.50, not $10.00.
After spotting these errors, I skimmed through the rest of the book. Although the issues the authors address may aggregate information for the investing public, nothing they say is earth-shattering. The book seems more to ride the tide of dumping on the investment community and offers little in the way of a position on fixing what is wrong. I am the first to agree that the system could be improved, but so could this book.
Vital and Easy to Understand.......2002-02-06
A must-read for anyone with an IRA or long term investments - this book is like a fireside chat with a favorite uncle in the stock business who tells you what to watch for and watch out for. Lots of information in an informal, easy to read format.
Book Description
This digital document is an article from Fairfield County Business Journal, published by Westfair Communications, Inc. on August 30, 2001. The length of the article is 535 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Affinity scams target religious, ethnic investors.(securities fraud)(Brief Article)
Author: B.z. Khasru
Publication:
Fairfield County Business Journal (Magazine/Journal)
Date: August 30, 2001
Publisher: Westfair Communications, Inc.
Volume: 40
Issue: 34
Page: 1
Article Type: Brief Article
Distributed by Thomson Gale
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on September 10, 2001. The length of the article is 870 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Agents Fight Fraud On The Front Line.(Brief Article)
Author: Mark E. Ruquet
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: September 10, 2001
Publisher: The National Underwriter Company
Volume: 105
Issue: 37
Page: 41
Article Type: Brief Article
Distributed by Thomson Gale
Book Description
This digital document is an article from Fairfield County Business Journal, published by Westfair Communications, Inc. on June 11, 2001. The length of the article is 805 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Bank sues over errant wire transfer.(National Bank of Pakistan sues Interactive Brokers Group L.L.C.)(Brief Article)
Author: B. Z. Khasru
Publication:
Fairfield County Business Journal (Magazine/Journal)
Date: June 11, 2001
Publisher: Westfair Communications, Inc.
Volume: 40
Issue: 24
Page: 1
Article Type: Brief Article
Distributed by Thomson Gale
Book Description
This digital document is an article from San Diego Business Journal, published by CBJ, L.P. on August 14, 2000. The length of the article is 364 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Construction Firms Face Insurance Fraud Charges.(list of indicted and their companies)(Brief Article)
Author: Arthur S. Grupe
Publication:
San Diego Business Journal (Magazine/Journal)
Date: August 14, 2000
Publisher: CBJ, L.P.
Volume: 21
Issue: 33
Page: 32
Article Type: Brief Article
Distributed by Thomson Gale
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on November 13, 2000. The length of the article is 935 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Insurance fraud can be avoided when agents perform due diligence.(Brief Article)(Column)
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: November 13, 2000
Publisher: The National Underwriter Company
Volume: 104
Issue: 46
Page: A7
Article Type: Brief Article, Column
Distributed by Thomson Gale
Book Description
This digital document is an article from Arkansas Business, published by Journal Publishing, Inc. on September 29, 2003. The length of the article is 743 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Investment fraud complaint set for trial in February.(Brokerage Firms)(Lieblong & Associates Inc. versus MicroFinancial Inc.)
Author: Mark Friedman
Publication:
Arkansas Business (Magazine/Journal)
Date: September 29, 2003
Publisher: Journal Publishing, Inc.
Volume: 20
Issue: 39
Page: 22(1)
Distributed by Thomson Gale
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on September 11, 2000. The length of the article is 576 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: ISO Database Helps Venezuela Fight Auto Insurance Fraud.(Insurance Services Office Inc.)(Brief Article)
Author: Daniel Hays
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: September 11, 2000
Publisher: The National Underwriter Company
Volume: 104
Issue: 37
Page: 49
Article Type: Brief Article
Distributed by Thomson Gale
Book Description
This digital document is an article from Journal of Risk and Insurance, published by American Risk and Insurance Association, Inc. on June 1, 1998. The length of the article is 436 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
From the supplier: A California Supreme Court ruled that the beneficiary of Jose Morales was entitled to collect the policy proceeds despite proof he had used fraudulent means to obtain his policy in the case of Amex Life Assurance v. Superior Court. It held that a contract issued to Morales was still a contract between him and the insurer even if he had used fraud to obtain it, and the company had two years to discover and act upon the fraud as the truth of Morales' deception was long available to the insurer before the two-year period expired.
Citation Details
Title: Life insurance incontestable despite fraud by insured who applied knowing he was HIV-positive and used impostor for physical exam.
Author: Jeffrey W. Stempel
Publication:
Journal of Risk and Insurance (Refereed)
Date: June 1, 1998
Publisher: American Risk and Insurance Association, Inc.
Volume: v65
Issue: n2
Page: p342(1)
Distributed by Thomson Gale
Book Description
This digital document is an article from National Underwriter Property & Casualty-Risk & Benefits Management, published by The National Underwriter Company on November 15, 2004. The length of the article is 828 words. The page length shown above is based on a typical 300-word page. The article is delivered in HTML format and is available in your Amazon.com Digital Locker immediately after purchase. You can view it with any web browser.
Citation Details
Title: Marsh cleans house; braces for fin'l impact: brokerage president, two other top executives resign; 3,000 employees to be laid off.(More Heads Roll)(Marsh and McLennan Companies Inc.)
Author: Mark E. Ruquet
Publication:
National Underwriter Property & Casualty-Risk & Benefits Management (Magazine/Journal)
Date: November 15, 2004
Publisher: The National Underwriter Company
Volume: 108
Issue: 43
Page: 6(2)
Distributed by Thomson Gale
Book Description
Unlike most personal finance books, CASH OUT, CASH IN is not a "How to Get Rich"book. Rather,it is an after-success book aimed at the demanding needs of families with $1 million to $1 billion of investable capital.
Read straight through or absorbed in sections, it is intended to be a handy desk guide for all stages of wealth management. Part I "Getting Liquid" offers advise based upon the selling of over 150 businesses,on getting the most from your business sale, pre-sale estate strategies, and also looks at the management of concentrated stock holdings. Part II "Building an Optimum Investment Portfolio" walks you through a thorough investment-planning process to determine your risk tolerance, return targets, and economic assumptions, etc., and ends with an ideal Personal Investment Charter and Asset Allocation. Detailed chapters on stock market, real estate, fixed income, and private business investments reflect success strategies used by the ultra-wealthy. Part III "Managing for Optimum Satisfaction" helps you build a "dream team" of professional advisors, explores family offices and advanced estate designs, and offers advise on becoming a comfortable and confident private investor.
Never before has one book combined so many adroit investment strategies for optimum personal wealth management.
Customer Reviews:
THE BEST INVESTMENT TIP IS TO BUY THIS BOOK AND READ IT!!!.......2002-03-09
I think that "CASH OUT, CASH IN" is simple, yet comprehensive.
Simple in that it is very easy to read, understand and absorb, yet comprehensive with regards to the details, tips and information that it contains.
I have learned a lot from reading this book and the bottom line is this: Diversify your income/investments - I particularly love the breakdown of the investment portfolio that is in this book.
If this is what the Ultra-Rich are doing to either get rich or stay there, then one best read the book carefully...as you might learn something the way that I did.
In closing, I may not have millions, in fact, I don't even have hundreds of thousands, but one day when I do, and I know I will, I am most definitely going to contact you, Mr. Van Mourick, as my desire (with your knowledge) will be for you to help me become part of the Ultra-Rich Club!
Great job! When's your next book coming out?!!!
EXCELLENT!.......2001-12-12
Thank you Mark Van Mourick!
Although the price was a tad more than what I wanted to spend, your book actually proved out to be worth every penny!
Chapter 2 "Before signing the letter of intent" helped me make some very important decisions (I went into an opportunity knowing a lot more than what I knew before reading your book); and
Chapter 10 has taught me some very interesting points about real estate investments, especially, since I'm very close to making some real estate decisions that I truly believe will prove to be in my favor!
What I liked most about this book is that it is very comprehensive as it pertains to the information or content of the book (I haven't found anything close to the information that is in this book), yet simplified enough for me to thoroughly understand.
I'm a better investor because of Cash Out, Cash In!
Thanks again!
Nicole
* Extremely Useful *.......2001-03-15
The information Mark Van Mourick offers in his book helped me immensely. Using his advice I doubled my profits through investments! His book is definately worth every cent of the cost! I very highly recommend this book for those who are in need of assistance for after success as I was.
Cash Out Cash In.......2001-03-06
Outstanding! Mark Van Mourick does it wonderfully. All of his recommendations have helped tremendeously. I encourage anybody selling their buisness to invest the price of a golf shirt for information that could save them millions.
An Over Priced Infomerical.......2000-12-28
While this book offers some good information, most of it can be found elsewhere for a much lower price. It appears the primary goal of the author is to convince the reader that managing one's own estate is far too complex and should be left to an investment advisory firm, preferably his!
The book would be a reasonable value at about one quarter of the outrageous price. Save your money and look else where.
Average customer rating:
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California Juvenile Laws & Rules 2003
Manufacturer: West Group
ProductGroup: Book
Binding: Paperback
 General
| Law
| Subjects
| Books
General
| Law
| Professional & Technical
| Subjects
| Books
ASIN: 0314104003 |
Product Description
From rear cover: When Paul wrote his letter to the Philippians, he was a prisoner of Rome's mad Emperor Nero. He may have been confined in Ephesus or Caesarea, or locked in the recesses of Rome's infamous Mamertine prison. Yet his letter -- thoughts of a man behind bars -- speaks repeatedly of "joy" and "rejoicing." In Paul's day, the Roman prison was a joyless place of damp stone where "neglect, darkness and stench made it hideous and fearsome to behold." Yet Paul's letter proclaims that in Christ every Christian has victory over every circumstance of life. And in the joy of the Lord, Paul found the secret of such victory -- the way of "escape" from his prison.
Average customer rating:
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Paul's Letters from Prison
J L Houlden
Manufacturer: SCM P
ProductGroup: Book
Binding: Hardcover
General
| Religion & Spirituality
| Subjects
| Books
ASIN: 0334022428 |
Average customer rating:
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Paul's Letters from Prison
Manufacturer: SCM Press LTD
ProductGroup: Book
Binding: Paperback
General
| Religion & Spirituality
| Subjects
| Books
ASIN: 0334022436 |
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