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Monkey with a Pin: Why You May Be Missing 6% a Year on Your Investment Returns Paperback – 10 Jun 2012


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Product details

  • Paperback: 278 pages
  • Publisher: Monkey with a Pin (10 Jun. 2012)
  • Language: English
  • ISBN-10: 0957303807
  • ISBN-13: 978-0957303805
  • Product Dimensions: 12.7 x 1.6 x 20.3 cm
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (29 customer reviews)
  • Amazon Bestsellers Rank: 352,080 in Books (See Top 100 in Books)

More About the Author

Pete is as an author with an inquiring mind. He is not one to blindly accept the orthodoxy and conventional wisdom. Instead, he forms his opinions by painstakingly re-evaluating the facts - and sometimes coming to different conclusions.
He has a Psychology degree and is a market researcher. He's well known within that industry as a conference speaker and also an innovator. He was the first person to run commercial online surveys in the UK in the mid-1990s. He founded the first UK online market research agency in 1998 and now works part time for them (Join the Dots).

Pete's other interests include gardening, and he recently created allotments in his local village for 150 people. He also runs fungi identification courses and is in the process of walking the entire coast of England and Wales with his wife.

Pete can be contacted on twitter: @petecomley or by email: pete.comley@monkeywithapin.com.

Product Description

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

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.

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Customer Reviews

4.4 out of 5 stars

Most Helpful Customer Reviews

4 of 4 people found the following review helpful By A. Smith on 3 May 2012
Format: Kindle Edition 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.
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2 of 2 people found the following review helpful By N Ahmed on 4 May 2012
Format: Kindle Edition
The universal reaction after reading this book is going to be, I wish I had read it years ago, and mine was no exception.

Being completely detached from the Finance industry, and a seasoned researcher trained to sift fact from mantra, gives Pete Comely a unique vantage point of the industry - everything in the book is based on solid evidence, and will save you from being ripped off by the "professionals" every step of the way. There is no agenda, theme or conjecture; just plain facts that most of us simply don't know and are blissfully kept in the dark about.

I consider myself a seasoned investor who has read loads about the topic, but this book showed me how ignorant I had hitherto been; I wish it was the very first book I had ever read before venturing into investing, to truly understand the game the individual and institutional sharks all around you constantly play.

It gives you a clear understanding of how the industry works, and far from putting anyone off, is likely to make us all much more adept at avoiding pitfalls, and making profits for ourselves not third parties. Pete has no agenda and does not even want to charge for his time and effort in researching and writing this book, which is truly admirable and reflects his sincerity. This is certainly the best book I have read on the subject, and no one even remotely connected with money matters can afford to ignore it.
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4 of 4 people found the following review helpful By Alan Miller on 24 April 2012
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.
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3 of 3 people found the following review helpful By jackdene on 9 May 2012
Format: Kindle Edition 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.
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2 of 2 people found the following review helpful By Simon O'dowd on 15 Oct. 2012
Format: Kindle Edition
I bought and read this book after hearing about it on the radio. Superbly researched and detailed. It has real integrity. After 25 years of investing, this is the best financial book I have ever read. Forget about reading the ads that invite you to invest in funds which are described in glowing terms. Instead try looking at all their funds, especially those that have vanished from view after being plugged years ago. These investment houses continually make money even if your investment does not. I have permanently changed my investment strategy as a result of reading this book, IT IS THE VERY BEST INVESTMENT THAT HAVE EVER MADE.
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2 of 2 people found the following review helpful By grant on 30 April 2012
Format: Kindle Edition
This is an excellent book - well written and easy to understand. The data is clearly explained and the conclusions drawn from the data are logical and easy to follow. The implications of the findings are critical for private investors who have been conned for far too long by financial institutions and 'independent' advisers alike. The Financial Industry and Government Regulators should also take note, but we hold our breath on that one!
Pete is to be congratulated on his book and I understand he would like it to be offered FREE through Amazon.
Grant
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