Item description for Wealth Without Worry: The Methods of Wall Street Exposed by James N. Whiddon...
Most investment strategies focus on improving returns through market timing and stock pickingtechniques known as active management. If these practices are so effective, why do returns for the overwhelming majority of investors lag well behind the market indices year after year? In Wealth Without Worry, authors James Whiddon and Lance Alston expose Wall Streets flawed system and offer a proven alternative to chasing returns. While Wall Street firms claim they can help investors pick winning securities and time the markets ups and downs, Whiddon and Alston clearly demonstrate how market returns can be harnessed simply and consistently through a properly diversified portfolio. Wealth Without Worry is based on Nobel Prize-winning research in economicswhat has become known as Modern Portfolio Theory (MPT). The investing principles outlined in this book have been tested and refined for decades in both academia and the real world. Wealth Without Worry shows readers how to apply these principles using a super-diversified Market Return Portfolio (MRP). By not succumbing to Wall Street shell games, all investors can have long-term success. Wealth Without Worry gives readers a map to the last investment strategy theyll ever need.
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Est. Packaging Dimensions: Length: 9.3" Width: 7.3" Height: 0.8" Weight: 0.95 lbs.
Release Date May 1, 2005
Publisher Brown Books
ISBN 193328501X ISBN13 9781933285016
Availability 0 units.
More About James N. Whiddon
James N. Whiddon is founder and CEO of JWA Financial Group, Inc., and a popular host of a syndicated talk radio show. He has been named repeatedly one of the fastest growing Aggie Business Leaders and one of Dallas's Best Financial Planners, and his firm has been named a "Wealth Master" by Bloomberg Wealth Manager five years running. Whiddon is also a well-known source of financial planning and money management wisdom among viewers of CNBC, CNN Money, and Investment News, as well as readers of "The Wall Street Journal", "Chicago Tribune", and "Financial Advisor".
Reviews - What do customers think about Wealth Without Worry: The Methods of Wall Street Exposed?
Wealth Without Worry Jan 3, 2007
I have read many books on retirement and investing and this is the FIRST book that made any sense, to me. It really simplifies how the stock market works and talks about all of the common pitfallls of investing that we have all tried and found that for the most part, they do not work. Instead of trying to time the market or use some other investment method, this book will tell you how to invest in 13-15,000 stocks and never worry about what the Dow 30 is doing, EVER.
If you are interested in safe investing for growth or retirement income that will consistantly beat the Dow, without all the worry, then this is the book for you.
Great counter-trend trading system! Dec 2, 2005
The book reveals a great counter-trend trading system for periods when American Capitalism is gaining global popularity. The authors are honest enough to print what happens to this strategy in a period of communist/cartel strength - 1973/1974. Heavy on argument, light on data.
The easy way to wealth Sep 24, 2005
The book title says it all "Wealth without worry" easy to undestand,plenty of references and back-up data. Wish I had known about this system 20 years ago !
How to Beat Wall Street and "Own" Capitalism Aug 6, 2005
What intrigued me about this book is the fact that James N. Whiddon wrote it (with Lance Alston) "for investors who are frustrated with the constant barrage of confusing and conflicting investment information, hit-and-miss approaches, and exaggerated return claims. It was written for those who are tired of having the worries of their financial future rob them of their life's present. For all who ever thought the odds were stacked against them in the investing game, Wealth Without Worry will change all that." That is indeed a bold claim. Whether or not it proves true depends on several factors over which Whiddon has no control. They include an investor's willingness and ability to (a) absorb and digest the contents of this book, (b) identify her or his specific investment objectives, (c) rigorously evaluate or re-evaluate initiatives to-date to achieve those objectives, and then (d) make whatever adjustments may be necessary, not only of specific investment strategies and tactics but also of her or his own values, motives, personality, and character.
Here are some of the questions to which Whiddon responds:
1. What are Wall Street's most popular methods of portfolio management?
2. Specifically what is active management?
3. Why and to what extent is active management misaligned with the best interests of individual investors?
4. When chasing returns, why do so many investors "arrive at the party late"?
5. What to consider before selecting the most appropriate investment help?
6. Which services should the advisor be required to provide?
7. How can the "Seven Essential Questions to Ask When Interviewing an Advisor" (pages 61-67) assist making an appropriate selection?
8. Why are "market returns there for the taking...by not succumbing to the Wall Street shell games"?
9. How to assemble and then manage a "proper portfolio" of investments?
10. Given the responses to the previous nine questions, which three action items should be pursued immediately? Why?
In an article article published in the Dallas Morning News (July 31, 2005), Scott Burns notes that in their book, Whiddon and Alston "point out that a simple diversified index portfolio consisting of four basic index funds (20 percent S&P 500, 20 [percent Russell 2000, 20 percent MSCI EAFE and 40 percent Lehman intermediate government bond) would have returned 12.7 percent a year during the 25 years from 1979 through 2004." Burns goes on to explain why that's "a pretty good return." The 80:20 Market Return Portfolio which Whiddon and Alston recommend includes only 20% committed to fixed income. It "crushed" the returns earned by active managers, returning a "whopping" 14.29 percent...and did so with less market risk. The obvious conclusion is that an index portfolio will almost always outperform a managed portfolio because, as Alston explained to Burns, "With one quarter of the portfolio in one asset class, you might have a chance to outperform with one good fund. But with 15 asset classes, it simply can't happen."
Whiddon and Alston insist that the Market Portfolio Fund enables an investor to "own the market...own the entire casino....[and] own capitalism, which has been successful since it was created." Another bold claim. Obviously, those who read this book must decide for themselves whether or not this is an appropriate investment strategy. My own opinion is that, at the least, it is one worthy of careful consideration.
This is the book I have been waiting for! Jul 24, 2005
This book is a perfect read for both my wife and I. It is put in an easy to understand format that tells it like it is. After reading this book, you'll look at Wall Street differently. This is a must read for all investors!