DIY Financial Advisor: A Simple Solution to Build and Protect Your Wealth by Wes

Description: DIY Financial Advisor by Wesley R. Gray, Jack R. Vogel, David P. Foulke DIY Financial Advisor: A Simple Solution to Build and Protect Your Wealth DIY Financial Advisor is a synopsis of our research findings developed while serving as a consultant and asset manager for family offices. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description DIY Financial Advisor: A Simple Solution to Build and Protect Your WealthDIY Financial Advisor is a synopsis of our research findings developed while serving as a consultant and asset manager for family offices. By way of background, a family office is a company, or group of people, who manage the wealth a family has gained over generations. The term family office has an element of cachet, and even mystique, because it is usually associated with the mega-wealthy. However, practically speaking, virtually any family that manages its investments—independent of the size of the investment pool—could be considered a family office. The difference is mainly semantic. DIY Financial Advisor outlines a step-by-step process through which investors can take control of their hard-earned wealth and manage their own family office. Our research indicates that what matters in investing are minimizing psychology traps and managing fees and taxes. These simple concepts apply to all families, not just the ultra-wealthy. But can—or should—we be managing our own wealth? Our natural inclination is to succumb to the challenge of portfolio management and let an expert deal with the problem. For a variety of reasons we discuss in this book, we should resist the gut reaction to hire experts. We suggest that investors maintain direct control, or at least a thorough understanding, of how their hard-earned wealth is managed. Our book is meant to be an educational journey that slowly builds confidence in ones own ability to manage a portfolio. We end our book with a potential solution that could be applicable to a wide-variety of investors, from the ultra-high net worth to middle class individuals, all of whom are focused on similar goals of preserving and growing their capital over time. DIY Financial Advisor is a unique resource. This book is the only comprehensive guide to implementing simple quantitative models that can beat the experts. And it comes at the perfect time, as the investment industry is undergoing a significant shift due in part to the use of automated investment strategies that do not require a financial advisors involvement. DIY Financial Advisor is an essential text that guides you in making your money work for you—not for someone else! Back Cover Praise for DIY Financial Advisor "Surprisingly simple advice: Avoid these common mistakes, make these small improvements, and voil Flap Praise for DIY Financial Advisor "Surprisingly simple advice: Avoid these common mistakes, make these small improvements, and voil Author Biography WESLEY R. GRAY, PHD, is the founder of Alpha Architect, LLC, where he is the executive managing member. Dr. Gray is the co-author of Quantitative Value: A Practitioners Guide to Automating Intelligent Investment and Eliminating Behavioral Errors. JACK R. VOGEL, PHD, is a managing member of Alpha Architect, LLC, where he heads the research department, writes papers on empirical asset pricing, and serves as the Chief Financial Officer. DAVID P. FOULKE is a managing member of Alpha Architect, LLC. He assists in business development, firm operations, strategic initiatives, and developing papers on quantitative investing and behavioral finance topics. Table of Contents Preface xi Acknowledgments xiii Part One Why You Can Beat the Experts 1 Chapter 1 Are Experts Trying Too Hard? 3 Why Do We Rely on Experts? 6 What Are the Experts Incentives? 9 Are Experts Worthless? 11 The Experts Hypothesis 13 Summary 14 Notes 15 Chapter 2 Simple Models Typically Beat the Experts 17 The Evidence Shows… 20 A Study of All the Studies 21 What if Experts Have the Model? 23 But Investing Is Different, Right? 24 Why Experts Fail to Beat Models 26 Summary 28 Notes 29 Chapter 3 Experts Are Biased and Overconfident 31 The Biased Brain 33 Summary 47 Notes 48 Chapter 4 Experts Tell Us Stories, Not Facts 49 Story-Based Investing 52 Evidence-Based Investing 53 The Recap: Why Experts Fail 60 Why Not Use Models? 62 Summary 63 Notes 64 Part Two How You Can Beat the Experts 67 Chapter 5 A Framework for Investment Decisions 69 Assessing an Advisor Is Difficult 71 The FACTS Framework 75 Weve Got the FACTS: Now What? 86 Summary 90 Notes 90 Chapter 6 A Simple Asset Allocation Model That Works 91 Asset Allocation 95 A Simple Asset Allocation Model That Works 98 But Which Assets Do We Choose? 103 Summary 104 Notes 105 Chapter 7 A Simple Risk Management Model That Works 107 A Simple Risk Management Model That Works 109 How Does ROBUST Work? 113 Summary 121 Risk Management Research (For Geeks Only) 121 Notes 129 Chapter 8 Simple Security Selection Models That Work 133 Value Investing 134 Momentum Investing 140 A Simple Momentum Model That Works 146 Combining Value and Momentum 148 International Stocks 151 Get Er Done 153 Summary 154 Notes 154 Chapter 9 The Do-It-Yourself (DIY) Solution 157 Exploring a Simple Equal-Weight Five Asset Class Model 159 Enhancing the Ivy 5 Concept 163 Finish Strong: The Ultimate DIY Solution 171 Get Er Done 175 Notes 176 Chapter 10 Some Practical Advice 179 Three Reasons We Will Not Be a DIY Investor 180 Three Reasons You Might Fail 183 But Dont Lose Hope! 185 Is DIY the Only Solution? 186 Notes 187 Appendix: Analysis Legend 189 About the Companion Website 191 About the Authors 193 Index 195 Long Description Praise for DIY Financial Advisor "Surprisingly simple advice: Avoid these common mistakes, make these small improvements, and voil! Better investing performance!" Barry Ritholtz, Chief Investment Officer, Ritholtz Wealth Management "Sophisticated yet sensible advice is typically afforded to only the wealthiest individuals and institutions. Now it is accessible to all in DIY Financial Advisor . A must read." Eric Balchunas, Senior ETF Analyst, Bloomberg Intelligence and author of The Institutional ETF Toolbox " DIY Financial Advisor is a great read for investors who want to take their retirement into their own hands. Wes Gray & co. bring a ton of enthusiasm to the topic while arming their readers to the teeth with useful information." Joshua M. Brown, author of the bestselling book Backstage Wall Street , founder of The Reformed Broker blog, and star of CNBCs The Halftime Report "Wall Streets so-called experts are overconfident, biased, and out to sell you a story. That is why DIY Financial Advisor is such a valuable resource." Tadas Viskanta, Founder and Editor of Abnormal Returns , author of Abnormal Returns: Winning Strategies from the Frontlines of the Investment Blogosphere "Investors are told their success relies on complex strategies and expert forecasts about the future. Using an evidence-based approach, Gray, Vogel, and Foulke prove why this isnt the case. A great read!" Ben Carlson, author of A Wealth of Common Sense: Why Simplicity Trumps Complexity in Any Investment Plan Details ISBN111907150X Series Wiley Finance Year 2015 ISBN-10 111907150X ISBN-13 9781119071501 Format Hardcover Place of Publication New York Country of Publication United States DEWEY 332.678 Language English Media Book Pages 224 Subtitle A Simple Solution to Build and Protect Your Wealth Short Title DIY FINANCIAL ADVISOR Illustrations Yes Author David P. Foulke UK Release Date 2015-10-09 AU Release Date 2015-08-31 NZ Release Date 2015-08-31 Publisher John Wiley & Sons Inc Publication Date 2015-10-09 Imprint John Wiley & Sons Inc Audience General US Release Date 2015-10-09 We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:159973981;

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