Monkey with a Pin
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Review
Comley's argument is clear, honest, logical and jargon-free. He also throws in some astonishing stats, such as this one: that 6% we lose every year totals £170 billion -- or £3,000 for every man, woman and child in the UK. That's a lot of money the finance industry makes from us. Best of all, Monkey With A Pin isn't selling you the dream of getting rich quick. In fact, it isn't selling anything at all.
--Harvey Jones, Journalist, Motley Fool
Monkey With A Pin explains to you exactly why neither you nor the fund managers you hire to run your money for you ever seem to make the kind of returns studies show the equity market is supposed to offer.
--Merryn Somerset Webb, Editor-in-Chief, MoneyWeek
--Harvey Jones, Journalist, Motley Fool
Monkey With A Pin explains to you exactly why neither you nor the fund managers you hire to run your money for you ever seem to make the kind of returns studies show the equity market is supposed to offer.
--Merryn Somerset Webb, Editor-in-Chief, MoneyWeek
Book Description
For the first time, this book exposes exactly how most private investors perform in real life. It shows they are likely to perform 6% a year worse than the industry’s theoretical predictions of their returns (whether using funds or direct investing). The book reveals that many have earned less than if they had saved in a building society.
Part I of the book looks in detail at reasons why investors underperform: poor skill, charges and survivorship bias. The second part turns to the implications for the private investor, the finance industry and regulators.
Monkey with a Pin encourages private investors to review their investing style and strategy to help them achieve better returns.
Part I of the book looks in detail at reasons why investors underperform: poor skill, charges and survivorship bias. The second part turns to the implications for the private investor, the finance industry and regulators.
Monkey with a Pin encourages private investors to review their investing style and strategy to help them achieve better returns.
Customer Reviews
Most Helpful Customer Reviews
2 of 2 people found the following review helpful
By jackdene
Format:Kindle Edition|Amazon Verified Purchase
Pete Conley's well-researched, thought-provoking book is essential reading for all private investors, whether experienced or new starters. Even if you think you're pretty savvy on investment issues, the breadth of the investment options he covers, the clear explanations, the dispassionate style, the ability to de-mystify investment language all contribute to its overall readability.
I've been investing for many years, read the Money broadsheet sections and the odd investment book, but I learnt a lot from this book and the points Pete Conley raises will stick with me whenever I ponder any further investment decisions. His recommendations for the investment industry and for regulators are extremely well-judged and one vainly hopes that these two cosy worlds will take notice. In the meantime we have a new champion for a fair deal for private investors. Shareholders seem to be waking up and moving towards some sort of spring recently. Maybe this book is the kick-start for hundreds of thousands of ripped-off private investors. Let's chase up our investment managers to respond to the main points of this book and tell us what action they intend to take to protect the interests of their customers instead of those of the big investment companies. Well done Pete Conley.
I've been investing for many years, read the Money broadsheet sections and the odd investment book, but I learnt a lot from this book and the points Pete Conley raises will stick with me whenever I ponder any further investment decisions. His recommendations for the investment industry and for regulators are extremely well-judged and one vainly hopes that these two cosy worlds will take notice. In the meantime we have a new champion for a fair deal for private investors. Shareholders seem to be waking up and moving towards some sort of spring recently. Maybe this book is the kick-start for hundreds of thousands of ripped-off private investors. Let's chase up our investment managers to respond to the main points of this book and tell us what action they intend to take to protect the interests of their customers instead of those of the big investment companies. Well done Pete Conley.
2 of 2 people found the following review helpful
By A. Steele
Format:Kindle Edition|Amazon Verified Purchase
This is a great investment book which in my view should be read by all new investors who aim to 'play the markets'. I wish I had been able to read it twenty years ago rather than having to learn many of the lessons in Monkey with a Pin the hard way.
A strength of the book is its detailed analysis of the horrifying costs levied by the financial services industry. There are also interesting chapters on the historical returns from cash and introductory descriptions of ETFs, Investment Trusts etc..
Although the book is written in very clear prose and is suitable for novice investors even experienced investors will learn a great deal from Monkey with a Pin.
The main message of the book is that stock picking by amateur investors is a losers game and that the internal costs of active funds are generally much higher than the quoted annual management charge.
I would rate the book in the same league as Winning the Losers Game, Smarter Investing and Index Investing for Dummies.
A strength of the book is its detailed analysis of the horrifying costs levied by the financial services industry. There are also interesting chapters on the historical returns from cash and introductory descriptions of ETFs, Investment Trusts etc..
Although the book is written in very clear prose and is suitable for novice investors even experienced investors will learn a great deal from Monkey with a Pin.
The main message of the book is that stock picking by amateur investors is a losers game and that the internal costs of active funds are generally much higher than the quoted annual management charge.
I would rate the book in the same league as Winning the Losers Game, Smarter Investing and Index Investing for Dummies.
2 of 2 people found the following review helpful
By Alan Miller
Format:Kindle Edition
Monkey with a Pin is a fascinating read for any private investor looking to invest either directly themselves or through a fund manager. It exposes many of the fraudulent practises within the UK investment industry and offers easy to understand advice to ensure that private investors put the odds back in their favour.
Most Recent Customer Reviews
5.0 out of 5 stars
What the finance houses don't tell you...
Great to have my long-term suspicions about how my investments are run examined in detail. This should be read by all private investors in my opinion.
Published 18 days ago by TV Girl
5.0 out of 5 stars
The other side of the coin
A great deal of research must have been put into this book. I wish that I had read something like this years ago, it could have saved me a lot of money. Read more
Published 26 days ago by Peter S
3.0 out of 5 stars
Nice book - Badly Flawed Logic
I'm not the type of person to give a totally negative review about most books and I've tried to avoid giving one for this. Read more
Published 2 months ago by FBag
5.0 out of 5 stars
3 hours reading to save you thousands
Expertly explained - read it before it's too late.
Will stop you throwing good money after bad in the future.
Will stop you throwing good money after bad in the future.
Published 2 months ago by A. Liptrot
5.0 out of 5 stars
I was and probably still am that Monkey
I already knew that the finance industry fleeced its customers, and to such a great degree that it's almost impossible for the ordinary customer to make any money out of investing. Read more
Published 3 months ago by Andy
4.0 out of 5 stars
Excellent book - a must read
"Monkey With A Pin" ranks along with "PILLAGED How They're looting £413m a day from your savings and pensions" by David Craig as two books anyone with savings in a bank, building... Read more
Published 6 months ago by manager
5.0 out of 5 stars
Absolutely Brilliant
I bought and read this book after hearing about it on the radio. Superbly researched and detailed. It has real integrity. Read more
Published 7 months ago by Simon O'dowd
5.0 out of 5 stars
The best book on investing. Ever.
Having industry inside knowledge, we know what the author says is true. It is well researched and very accessible. Banks and investment managers are going to rip you off. Read more
Published 7 months ago by Honestly Banking
5.0 out of 5 stars
Excellent
I too had always wondered why my returns were low and why my unit trust & isa & pension never performed that well, but i never sat down and worked out why. Read more
Published 8 months ago by Emperors new book
5.0 out of 5 stars
Required Reading for EVERYONE including IFA's
Altruistically written, thoroughly researched and finally getting to the truth that is inaccessible to the average investor. Read more
Published 9 months ago by Father to Be
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