Richard L.Lackey – Cashing in on Wall Street’s 10 Greatest Myths

Richard L.Lackey – Cashing in on Wall Street’s 10 Greatest Myths

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What Wall Street pros really say behind closed doors Investor behavior is driven by well-known “truths” which often have little basis in fact, are usually misapplied and misunderstood by brokers and investors, and can negatively impact long-term investment performance. Cashing In on Wall Street’s Ten Greatest Myths examines the most well-known of these, telling investors which are nonsense while uncovering core concepts that have always provided the safest path to building wealth. Wall Street veteran Richard Lackey begins each chapter by detailing a particular myth, explains its flaws, and then reveals how investors can use the kernels of truth in the myth to make profitable investment choices. Valuable sections include:

• Secrets of “going short” that pros use every day
• Why diversification can be bad–and how to make it work
• What to look for to consistently find benchmark-beating stocks
• Why mutual funds aren’t as safe as everyone thinks
• How to use options to boost income or protect a portfolio

From the Back Cover

A dynamic plan for investment success based on market-proven reality, not market-driven myth For decades, stockbrokers and popular magazines have relied on overly simplistic slogans and sayings to explain markets to independent investors. Problem is, many of these “truths” were in fact wrong, resulting in long-term damage to the portfolios of those investors they were meant to help. Cashing In On Wall Street’s Ten Greatest Myths examines the flaws in these well-known sayings, revealing core concepts you can draw from each to dramatically improve your investment decision-making. This no-nonsense investor’s guidebook reveals:

• Why buy-and-hold doesn’t work anymore, along with low-risk trading techniques you can use to profit in any market
• Three easy-to-follow options strategies–the covered call, the married put, and the collar–that actually increase the safety of your portfolio
• Why mutual funds could be your worst enemy, and alternative investments that can allow you to earn market-plus returns while minimizing market risks

Cashing In On Wall Street’s Ten Greatest Myths introduces you to methods and techniques that will help you attain long-term wealth despite what your stockbroker has always told you. Buy and hold always works… Mutual funds are safe… Options are for risk takers… Many of the “facts” that Wall Street has told you over the years have been wrong. So wrong that they have probably harmed instead of helped your investment success. It’s time you find out the truth. Cashing In On Wall Street’s Ten Greatest Myths will help you make money in the markets by showing you the strategies that really work and providing you with step-by-step guidelines for implementing them in your own investment plan. Longtime Wall Street insider Richard Lackey takes you behind the scenes to show you where the real opportunities are in today’s markets. This successful investment veteran provides you with commonsense knowledge and guidelines for uncovering and seizing profit opportunities in every type of market, including:

• Active trading strategies designed to overcome the risks of the typical “buy, hold, and pray” program
• Updated diversification techniques based on spreading risk across investment styles and time horizons, as opposed to companies and industries
• Option-writing methods professional traders and managers use to both generate cash and control risk in turbulent markets
• Areas you may know little about, such as foreign currency trading, which fit your risk/reward requirements and could provide you with new investment opportunities
• Easy-to-understand techniques for assessing the risk/reward ratio of investments you’re considering, and ensure you buy only those that advance your overall strategy
• Detailed interviews with frontline portfolio managers, expanding upon the concepts discussed and providing hands-on investing and trading insights

The key to preserving capital in down markets is to look beyond simple stocks and mutual funds, which by their nature will regularly go down and decrease your capital, and embrace options, exchange-traded funds, and other vehicles that are non-correlated or inversely correlated to broad market indices. Cashing In On Wall Street’s Ten Greatest Myths shows you how to do that and more, by looking beyond the slogans that have ruled Wall Street for decades to focus on the investment concepts and market inefficiencies that are proven wealth builders for independent investors. Filled with valuable recommendations and techniques, it will introduce you to the only financial advisor who is guaranteed to always act in your best interests–you. –This text refers to an out of print or unavailable edition of this title.

About the Author

Richard L. Lackey is the CEO and managing partner of ETS Capital Management, which manages assets for institutions and high-net-worth individuals, as well as president of ETS Financial Services, a trader training firm. A nationally recognized authority on trading and investing, Lackey has more than two decades of experience trading equities, options, futures, and currencies. He is a popular speaker at investment seminars and conferences, and appears regularly in national broadcast and print media.