{"product_id":"diy-financial-advisor-a-simple-solution-to-build-and-protect-your-wealth-hardback-9781119071501","title":"DIY Financial Advisor; A Simple Solution to Build and Protect Your Wealth (Hardback) 9781119071501","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eDIY Financial Advisor\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eA Simple Solution to Build and Protect Your Wealth\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eWesley R. Gray (Author), Jack R. Vogel (Author), David P. Foulke (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781119071501, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eHardback, published 9 October 2015\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e224 pages\u003cbr\u003e23.4 x 16 x 2.5 cm, 0.408 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003e\u003cp\u003e\u003cb\u003eDIY Financial Advisor: A Simple Solution to Build and Protect Your Wealth\u003c\/b\u003e\u003ci\u003e\u003cbr\u003e\u003cbr\u003eDIY Financial Advisor \u003c\/i\u003eis 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.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eDIY Financial Advisor \u003c\/i\u003eoutlines 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.\u003c\/p\u003e \u003cp\u003eBut can—or should—we be managing our own wealth?\u003c\/p\u003e \u003cp\u003eOur 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 one's 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.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eDIY Financial Advisor\u003c\/i\u003e 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 advisor's involvement. \u003ci\u003eDIY Financial Advisor\u003c\/i\u003e is an essential text that guides you in making your money work for you—not for someone else!\u003c\/p\u003e\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One Why You Can Beat the Experts 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 Are Experts Trying Too Hard? 3\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhy Do We Rely on Experts? 6\u003c\/p\u003e \u003cp\u003eWhat Are the Experts’ Incentives? 9\u003c\/p\u003e \u003cp\u003eAre Experts Worthless? 11\u003c\/p\u003e \u003cp\u003eThe Expert’s Hypothesis 13\u003c\/p\u003e \u003cp\u003eSummary 14\u003c\/p\u003e \u003cp\u003eNotes 15\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Simple Models Typically Beat the Experts 17\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Evidence Shows… 20\u003c\/p\u003e \u003cp\u003eA Study of All the Studies 21\u003c\/p\u003e \u003cp\u003eWhat if Experts Have the Model? 23\u003c\/p\u003e \u003cp\u003eBut Investing Is Different, Right? 24\u003c\/p\u003e \u003cp\u003eWhy Experts Fail to Beat Models 26\u003c\/p\u003e \u003cp\u003eSummary 28\u003c\/p\u003e \u003cp\u003eNotes 29\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Experts Are Biased and Overconfident 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Biased Brain 33\u003c\/p\u003e \u003cp\u003eSummary 47\u003c\/p\u003e \u003cp\u003eNotes 48\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Experts Tell Us Stories, Not Facts 49\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStory-Based Investing 52\u003c\/p\u003e \u003cp\u003eEvidence-Based Investing 53\u003c\/p\u003e \u003cp\u003eThe Recap: Why Experts Fail 60\u003c\/p\u003e \u003cp\u003eWhy Not Use Models? 62\u003c\/p\u003e \u003cp\u003eSummary 63\u003c\/p\u003e \u003cp\u003eNotes 64\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two How You Can Beat the Experts 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 A Framework for Investment Decisions 69\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAssessing an Advisor Is Difficult 71\u003c\/p\u003e \u003cp\u003eThe FACTS Framework 75\u003c\/p\u003e \u003cp\u003eWe’ve Got the FACTS: Now What? 86\u003c\/p\u003e \u003cp\u003eSummary 90\u003c\/p\u003e \u003cp\u003eNotes 90\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 A Simple Asset Allocation Model That Works 91\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAsset Allocation 95\u003c\/p\u003e \u003cp\u003eA Simple Asset Allocation Model That Works 98\u003c\/p\u003e \u003cp\u003eBut Which Assets Do We Choose? 103\u003c\/p\u003e \u003cp\u003eSummary 104\u003c\/p\u003e \u003cp\u003eNotes 105\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 A Simple Risk Management Model That Works 107\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Simple Risk Management Model That Works 109\u003c\/p\u003e \u003cp\u003eHow Does ROBUST Work? 113\u003c\/p\u003e \u003cp\u003eSummary 121\u003c\/p\u003e \u003cp\u003eRisk Management Research (For Geeks Only) 121\u003c\/p\u003e \u003cp\u003eNotes 129\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Simple Security Selection Models That Work 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eValue Investing 134\u003c\/p\u003e \u003cp\u003eMomentum Investing 140\u003c\/p\u003e \u003cp\u003eA Simple Momentum Model That Works 146\u003c\/p\u003e \u003cp\u003eCombining Value and Momentum 148\u003c\/p\u003e \u003cp\u003eInternational Stocks 151\u003c\/p\u003e \u003cp\u003eGet ‘Er Done 153\u003c\/p\u003e \u003cp\u003eSummary 154\u003c\/p\u003e \u003cp\u003eNotes 154\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 The Do-It-Yourself (DIY) Solution 157\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eExploring a Simple Equal-Weight Five Asset Class Model 159\u003c\/p\u003e \u003cp\u003eEnhancing the Ivy 5 Concept 163\u003c\/p\u003e \u003cp\u003eFinish Strong: The Ultimate DIY Solution 171\u003c\/p\u003e \u003cp\u003eGet ‘Er Done 175\u003c\/p\u003e \u003cp\u003eNotes 176\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Some Practical Advice 179\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThree Reasons We Will Not Be a DIY Investor 180\u003c\/p\u003e \u003cp\u003eThree Reasons You Might Fail 183\u003c\/p\u003e \u003cp\u003eBut Don’t Lose Hope! 185\u003c\/p\u003e \u003cp\u003eIs DIY the Only Solution? 186\u003c\/p\u003e \u003cp\u003eNotes 187\u003c\/p\u003e \u003cp\u003eAppendix: Analysis Legend 189\u003c\/p\u003e \u003cp\u003eAbout the Companion Website 191\u003c\/p\u003e \u003cp\u003eAbout the Authors 193\u003c\/p\u003e \u003cp\u003eIndex 195\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Mathematics [\u003ca title=\"See our other books on Mathematics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Mathematics%20%5BPB%5D%22\"\u003ePB\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley","offers":[{"title":"Brand New","offer_id":52472123621656,"sku":"9781119071501","price":20.99,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9781119071501.jpg?v=1785718088","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/diy-financial-advisor-a-simple-solution-to-build-and-protect-your-wealth-hardback-9781119071501","provider":"Freshly Printed Books","version":"1.0","type":"link"}