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Brian Perry. Ignore the Hype
Table of Contents
List of Illustrations
Guide
Pages
Ignore the Hype. Financial Strategies Beyond the Media-Driven Mayhem
Acknowledgments
About the Author
Preface
Introduction
Chapter 1 The Times They Are a-Changin'
There Is a World of Difference Between Speculation and Investing
So, Why Is It So Damn Hard to Ignore the Hype?!
To Play, or Not to Play, That Is the Question
Life at the Speed of Light
Lower Transaction Costs
Self-Directed Investing
High-Frequency Trading
The 24-Hour News Cycle
Globalization
The Rise of the Institutional Investor
The Bottom Line
Chapter 2 Don't Play a Game That's Rigged
The Upward Path of Markets
Asset Class Returns
A Twist in the Plot
Time in the Market versus Timing the Market
Why Are Las Vegas Casinos So Nice?
The True Cost of Sitting on the Sidelines
Does Crisis Equal Opportunity?
Chapter 3 Guess What? A Forecast Is Just a Guess
But Forecasting Is Fun
Economists
Wall Street Analysts
Media Pundits
The Federal Reserve (the Fed)
So, What's the Problem?
The All-Star Team
What Should You Do with Forecasts?
Chapter 4 You Must Know What Drives Investment Returns
You Can Beat the Dealer, But Can You Beat the Market?
It's Hard to Stand Above the Crowd in a Room Full of Tall People
So, What's the Solution?
Indexed Products
A Rules-Based Approach
What is a rules-based approach?
Fundamental Factors for Success
Stock Market Factors
Growth Stocks
Value Stocks
Bond Market Factors
The Bottom Line on Factor Premiums
Chapter 5 You Must Have a Specific Financial Goal
Step One: Determine Your Vision of Retirement
Step Two: Determine How Much You Spend Today
Step Three: Determine When You Want to Retire
Step Four: Determine How Much Income You'll Need in Year One of Retirement
A Note About Spending in Retirement
Step Five: Determine Your Sources of Retirement Income
Step Six: Determine How Much You'll Need from Your Savings and Investments
Step Seven: Determine a Sustainable Distribution Rate
Step Eight: Determine How Much Money You Need to Retire
Step Nine: Determine Your Plan to Accumulate the Money You Need to Retire
Putting It All Together with a Step-by-Step Example
Already Retired?
The Bottom Line
Chapter 6 You Must Invest to Meet Your Goal
How Much Money Do You Want to Make?
How Much Money Do You Need to Make?
How Much Risk Should You Take?
Sleeping on a Bed of Money
Adding Some Stocks to the Mix
Portfolio A
Portfolio B
What Portfolio Do You Want?
Still Not Convinced?
Enjoy Your Retirement!
Chapter 7 You Must Practice Smart Diversification
What Is Smart Diversification?
You Don't Want to Be a Pig!
Owning What You Know May Not Be Best
It's a Big World
Sometimes You're Trapped by Your Own Success
Dealing with Concentrated Positions
Smart Diversification Enhances Your Odds of Success
Winning the Lost Decade
Chapter 8 You Must Learn How You'll Be Taxed
But First, the Hype
And Now, the Truth
Income Taxes: A Quick Primer
Are Taxes Going Higher?
Tax Diversification
Do You Know Who Your Partner Is?
As If That's Not Enough …
What's Certain in Life?
Chapter 9 How to Avoid the Taxman Without Going to Jail
Building Your Tax-Free Pool of Money
Accelerating the Flow of Funds to Your Tax-free Pool
Building Your Taxable Pool of Money
Do You Want to Keep More of What You Make?
Chapter 10 Sorry, But You're Probably Your Own Worst Enemy
Tales Your Parents Told You
Anchoring
Confirmation Bias
Overconfidence Bias
Herd Behavior
Framing Bias
Hindsight Bias
Self-attribution Bias
Myopic Loss Aversion
Chapter 11 FYI, the Media Doesn't Care If You Make Money
But Then There's the Media …
Did Black Monday Spell Doom for Investors?
What Side of the Aisle Are You On?
Would You Hitch Your Family's Future to the Circus?
Chapter 12 Avoid the Wolf in Sheep's Clothing
Does It Pass the Sniff Test?
Who's Got Your Back?
Focus on Minimizing Unnecessary Fees
Is What You're Buying Even an Investment?
Drowning in a Sea of Complexity
Do You Even Know What You're Buying?
But My “Regular” Bonds Are Free from Commissions, Right?
What Are You Using Derivatives For?
Market Voodoo (AKA Technical Analysis)
Let Me “Sell” You an Annuity…
Now, Let Me “Explain” an Annuity…
The Bottom Line
Chapter 13 How to Survive a Bear Attack
Prepare for the Bear
Risk Capacity versus Risk Tolerance
Rebalance to Stay on Course
Buy-and-Hold Investing
Buy-and-Forget Investing
So, What Do You Do When Market Valuations Are Extreme?
Does What Gets Measured Get Improved?
Ready for Some Good News?
A Better Life
Conclusion
Index
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