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HomeShop at BookSurgeComics & Graphic NovelsThe Undoing of Cowardice |
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1 of 1 found the following review helpful:
A Provocative View of How Wall Street Really Works Oct 28, 2009
The lead sentence of the back cover testimonial, "Plotting a course between The Black Swan, Liar's Poker, and The Little Book that Beats the Market ...." gives a good feel for the book's perspective; if you liked those books, you'll enjoy this excellent contribution to the subject of finance and investing. Feingold offers a thoughtful and provocative view of how Wall Street really works, based on firsthand experience at the upper echelons of finance, as a Goldman Sachs bond trader and portfolio manager at several hedge funds. With this background, he explains how the curse of "closet indexing" has led to a herd mentality (thus the title and herd of sheep on the cover) that is undoing the efficient market and offers long term investors an opportunity to beat the street. After applying this observation to investment strategy, the author then does a deep dive into his specialty area, convertible bonds, which combine the principal protection of bonds with the upside potential of stocks.
2 of 2 found the following review helpful:
Worth Your Time Sep 23, 2009
This book is terrific and I highly recommend it. It deserves close attention from anyone who wants to be an educated, active investor or anyone who wants to read a very funny, insider's view of the world of big money.
There is an ocean of undistinguished books about investing, the recent financial meltdown and the good and bad to be found on Wall Street, most of which will make you no savvier about managing your money. The Undoing of Cowardice is quite different. Bill manages to both capture history while it was being made and teach critical lessons at the same time. His anecdotes are very amusing and very relevant, and each story reinforces an important principle about investing. He makes sophisticated concepts easily digestible.
This book is not the last mile on the road to becoming an independent-thinking, confident investor -- no single book can be. However, it is the key starting point that will give you the confidence and overall direction to make the journey. Many of the tactics that Bill suggests require further study, but the overall strategy he lay out is a superb guide to taking control of your money and getting ahead of the crowd.
3 of 3 found the following review helpful:
"An outstanding read" Aug 25, 2009
Bill Feingold's "The Undoing of Cowardice" is one of the most valuable books on investing that I have ever picked up. Mr. Feingold's ideas, like most of the great economic thinkers of the past three centuries, seem almost amazingly commonsensical once he has explained them, and yet they resonate with significant power. Feingold is absolutely correct that most people have the knowledge and wisdom to invest well, but have been talked into making poor decisions by a system which greatly rewards failure to think outside the box. Whether you are a professional money-manager or an investor with a 401k account, you owe it to yourself to study and understand Mr. Feingold's theories gained from 20 years of Wall Street experience and an equally impressive academic career.
9 of 9 found the following review helpful:
Truly Phenomenal Aug 24, 2009
"The Undoing of Cowardice" by Bill Feingold is by far the BEST book I've read in 30 years on the value of taking charge of your own financial destiny. This book not only taught me a great deal about how Wall Street came to be such a mess, but it also taught me how to no longer be afraid of investing for myself. I am now making the right choices in controlling my money instead of paying exorbitant fees to money managers who add absolutely zero value by trying to beat simple indices.
The story-telling, imagery and details in this book are presented in a witty, friendly, easy to comprehend manner. Unlike most authors, Mr. Feingold does not assume that we are too stupid to understand basic principles of managing and planning for our financial future, but rather he takes great pains to clearly explain without condescension how we should go about taking back our money. Feingold shows his 20 years on Wall Street through pure mastery. He is clearly an author to watch.
I don't see how anyone can understand the past let alone plan for the future without this astounding book.
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