Jackass Investing: Don't do it. Profit from it.

Business, Money & Investing

By Mike Dever

Publisher : Ignite LLC

Jackass Investing: Don't do it. Profit from it.

ABOUT Mike Dever

mike dever
I've been a professional trader and investor for more than 30 years. After three years of private research and trading I founded Brandywine Asset Management in 1982. For the past three decades, Brandywine and I have been entrusted to manage the money of global banks, major corporations a More...



Jackass Investing systematically rips apart the conventional investment wis­dom – myth by myth – then replaces it with a “return driver” based methodology that results in a “Free Lunch” portfolio – one that produces both greater returns and lower risk. More than ten years in the making, and supported by the twin pillars of exten­sive research and more than 30 years of trading experience, this book finally lays to rest the traditional investment para­digm.

As you might have guessed, this is not your typical invest­ment book. “Controversial” and “ground-breaking” are two words that have been used to describe it. Jackass Investing presents an entirely new, and eminently logical, process for investing – all of it supported by numerous relevant facts and studies. But Jackass Investing is not a dense financial tome. It is extremely readable and includes entertaining and relevant references to popular culture – such as Criss Angel’s magic, the rock band Rush and heavyweight boxing con­tender “Fast” Eddie Chambers – to help describe investment concepts in a truly approachable way.

Perhaps most importantly, the book is also highly practical. As a bonus, the author has created a companion web site that includes specific actions you can take to turn your “Poor-folio” into a truly diversified portfolio – one that can make you money in even the harshest environments. This is certainly the one book that will transform your way of thinking about money and how you invest it.

The Writing of Jackass Investing The year was 1999. Everyone “knew” that the sure path to financial independence was to simply buy stocks and hold on for the long run; that a diversified portfolio was one that held a variety of stocks, such as large caps, small caps, and maybe even a few from other countries; that government regulations ensured a safe investing environment; and that commodities and futures trading were a sure path to reduced wealth. I vehemently disagreed and viewed these supposed "truths" to be, in actuality, costly myths. It was in that environment that I resolved to write Jackass Investing. Over the following decade I cataloged dozens of investment myths, and over the years researched the basis for each one. In this book I condense that list to 20 of the most pervasive. My purpose is not just to expose each myth, but to show people how they can profit by exploiting the myths. This required an extensive amount of research, both to show why each myth is just that – a myth – and not a fact, and also to create the investment approach that you, the reader, could use to profit from the behavior of those people who believed in – and invested pursuant to – each myth. As a result, Jackass Investing is really two books in one. The first is the print (and electronic) book. It contains 280 pages of research and narrative designed to expose each myth. I’ve written this book to be entertaining as well as informative, and incorporate numerous comparisons between the myths and popular culture (one of my favorites, and most valuable, is the comparison between George Costanza on Seinfeld and the behavior of most so-called "investors"). The second part is the online "Action Section". It is here that I reveal specific "Trading Strategies" that you can employ to create a “Free Lunch” portfolio. A Free Lunch portfolio produces both greater returns and lower risk than the "conventional" portfolio that is advocated by the vast majority of financial professionals and publications. My goal, as I state in the Introduction to the book, is "to put to rest the investment paradigm that has been over preached and accepted without hesitation, despite its obvious flaws, for far too long" and to help my readers "transform their lives and gain what every adult in the modern world dreams of and rarely achieves … financial security." Best wishes, Mike Dever

"With Jackass Investing, Michael Dever systematically refutes 20 common investment myths while also providing readers with a process for creating their own ‘Free Lunch’ portfolio of both greater returns and lower risk. Read this book."

Michael W. Covel, author of Trend Following and The Complete TurtleTrader

"This book should be read by any investor considering investing in the stock market before they make big mistakes, as well as by experienced investors who are unsure of what they are doing. Written by an experienced money manager, Dever offers the unvarnished truth about the way Wall Street works to the detriment investors' best interests.  Buy-and-hold is too dangerous and risky. That is why he lays out strategies to make money on a consistent basis. I highly recommend this well-written and enlightening book to all investors."

 Leslie N. Masonson, Author of Buy DON'T Hold and All About Market Timing

”All right, you’re guilty! I have no time to do anything, yet I have finished your book. Like a drug addict blaming their pusher. I'd read a few pages at a time. Man it was GREAT! I loved it. I felt like I was watching Perry Mason tear up a prose­cutor with a weak case."

Robb Ross, Principal of White Indian Trading Co. Ltd. a Commodity Trading Advisor

“Investing is full of unexpected pitfalls, but Mike Dever gives investors a road map for avoiding them. Using statistics, research and his professional experience, Dever sheds light on many common investing concepts and provides alternative strategies that are designed to beat the market.”

Charles Rotblut, CFA, Vice President, American Association of Individual Investors; Author, Better Good than Lucky

“Dever makes two potent points: don’t invest like a jackass, and take advantage of all the jackasses out there. I wish him great success with the book, but not too much, as it would make my job more difficult!”

Michael H. Trenk, Chief Operating Officer, ALVA CAPITAL

 Jackass Investing is a fascinating, ‘must-read’ for every investor. In plain English and with easy-to-understand examples, Mike Dever explains how ‘drawdown’ is every investor’s true measure of risk (not volatility) and how ‘correlation kills’ an investor’s opportunity for real returns. Most importantly, Mike provides specific investment strategies that outperform the herd, in stark contrast to the risky and conventional ‘buy and hold’ advice. This book is both timely and timeless.”

Doug Bloom, CEO, Real Win Win