|
''Jackass Investing: Don't do it. Profit from it.'' is a book written by Michael Dever published by Ignite LLC in 2011. Dever is the founder and CEO of Brandywine Asset Management, Inc., an investment management firm founded in 1982.〔 The book has also been released under the title ''Exploiting the Myths: Profiting from Wall Street's misguided beliefs.''〔 ==Overview== ''"Jackass Investing"'' is a best-selling〔〔 investment book that challenges conventional investment wisdom〔 and presents an entirely new system of thought.〔 The book describes 20 common investment myths〔 and explains why each is a myth and not a fact.〔 The book is based on the trading philosophy of author Michael Dever. Dever's trading philosophy is based on broad strategy and market diversification.〔〔 According to Dever, the definition of "Jackass Investing" is taking unnecessary risk.〔 The book was published in 2011, but Dever initially developed the idea for the book in 1999.〔 He decided to write ''"Jackass Investing"'' to systematically refute major investment myths by presenting the truth. He believes that most investment professionals preach similar "myths" that prohibit investors from creating truly diversified portfolios. Dever introduces the concept of "return drivers" and explains how to use them to create trading strategies, which are the components necessary to create a truly diversified portfolio.〔 A return driver is the core underlying reason that drives the price of a market.〔 True diversification can only be achieved by diversifying across return drivers and trading strategies, not asset classes. Dever believes that most investors are taught to build a portfolio based on asset classes (such as stocks and bonds) and to hold the positions for the long term. According to Dever, this approach is the equivalent of gambling.〔 In the final chapter of the book, Dever presents "Free Lunch" portolios, which are portfolios that produce greater returns, with less risk, than portfolios based on conventional financial wisdom.〔 The "Free Lunch" portfolios are truly diversified across a wide range of independent uncorrelated return drivers.〔 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Jackass Investing」の詳細全文を読む スポンサード リンク
|