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Nice book - Badly Flawed Logic
on 22 February 2013
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. The positives of this book are that 1)the author has actually been bothered to do something and write about it and 2)The prose and style of the book are nicely written.
The negatives are that the authors research and understanding are in many cases badly flawed. He clearly does not understand averages and the concept of random chance (monkey with a pin). He does not understand how dividends are taxed in the UK (inside or outside an ISA). He has the nasty habit of making up or guessing information which he does not know (although in fairness he does say this and explain how he has guessed at what he uses), one of the most glaring examples of this is how he uses returns on the Taiwan stock market as a basis to guess what professional investors skill levels are worth on the LSE.
This is a shame because the cosy world of fund managers and financial advisors probably needs a bit of a stir but this book doesn't have the evidential rigour to do that.