Books About Investment Scams

Now that you don’t have to commute during the shelter-in-place, you can use some of that freed up time to do a little reading. Here are a few books about investment scams that are both entertaining and educational.

Wolf Books

The Wolf of Wall Street
by Jordan Belfort
This is the autobiographical story about the guy who made hundreds of millions of dollars by pumping and dumping low priced and penny stocks. The book is filled with sex and drugs and every other kind of decadence.  A Martin Scorsese movie starring Leonardo DiCaprio was made from this story. Be forewarned: the chapter that took place in the hospital gave me nightmares for a couple weeks.

Catching the Wolf of Wall Street: More Incredible True Stories of Fortunes, Schemes, Parties, and Prison
by Jordan Belfort
This is the followup to the previous book. What happens when Belfort is arrested, how a case was built against him, and what happens after prison.

Madoff Books

No One Would Listen: A True Financial Thriller
by Harry Markopolos
A New York Times bestseller about how Markopolos uncovered Madoff’s scam.

The Wizard of Lies: Bernie Madoff and the Death of Trust
by Diana B. Henriques
All about how Madoff pulled off the biggest Ponzi scheme in history. Over 130 five star ratings on Amazon.

The End of Normal: A Wife’s Anguish, A Widow’s New Life
by Stephanie Madoff Mack
An inside look at the Madoff family written by the widow of Mark Madoff and the daughter-in-law of Bernard Madoff.Over 200 five star ratings.

Betrayal: The Life and Lies of Bernie Madoff
by Andrew Kirtzman
An in-depth look at Madoff and his victims.

Theranos Books

Bad Blood: Secrets and Lies in a Silicon Valley Startup
by John Carreyrou
Named one of the best books of the year by NPR, The New York Times Book Review, Time, Wall Street Journal, and the Washington Post. An in-depth look at Theranos and Elizabeth Holmes. Over 2,600 five star ratings.

Billion Dollar Facade: The Rise And Fall Of Theranos And Elizabeth Holmes
by Phil C. Senior
Short 140 page summary of the Theranos scam.

Books about Scams

Scam Me If You Can: Simple Strategies to Outsmart Today’s Rip-off Artists
by Frank W. Abagnale
Abagnale was the guy who wrote the book on scamming, Catch Me If You Can, which was made into a major motion picture.

How to Smell a Rat: The Five Signs of Financial Fraud
by Ken Fisher
How investment fraudsters operate and how to avoid them. Written my billionaire money manager and former long time Forbes columnist Ken Fisher.

Billion Dollar Whale: The Man Who Fooled Wall Street, Hollywood, and the World
by Tom Wright & Bradley Hope
Named a Best Book of 2018 by the Financial Times and Fortune, it is about the man who swindles $5 billion with the help of Goldman Sachs.

Happy reading!

 

 

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Why I Won’t Review Your Book

by Fred Fuld III
Every month, I get many emails from authors, publicists, and publishers, asking if I would like to review their book. On some days, I get as many as two or three requests. Back in 2006, when I first started blogging, and received my first review request, I thought “Great, I get a free book.” Now, I’m just overwhelmed and I turn down a huge percentage of the requests.

I have books stacked up all over the place. On my nightstand, I have three piles of books, each stacked up over two feet high. I have books on the floor next to my bed, the coffee table in the family room has three piles of books stacked up, and all the bookshelves are two rows of books deep with books stacked on top of the rows.

So besides lack of space, there are a lot of reasons why I might not review your book.

1. The book has nothing to do with business or investments
I’ve been asked to review all kinds of books, everything from cookbooks to children’s books. They may be great books but not a fit for Wall Street News Network.

2. The book is outside my area of expertise
Occasionally, I get a request to review an investment book that I have little knowledge of, for example commodities trading, which I feel I couldn’t give a fair evaluation due to my lack of familiarity.

3. The book is a blatant sales pitch
Many authors have a business or website that they are involved in, and they mention it in the book. I see no problem with this as I mention my web sites in a couple of my books. However, when a book puts at the end of each and every chapter, “Please call us at our 800 number to set up an appointment to discuss your financial situation,” then that is going way overboard. I actually received a book that did just that, so I didn’t even waste my time to review it. It’s too bad because the content of the book was pretty good.

4. The book is just too basic
I sometimes receive a book about finances and investing that is really simplistic. In other words, they include such recommendations as “Pay off your credit cards at the end of each month,” “Set aside some of your paycheck into an investing program,” etc. There is nothing wrong with this information, but the market for this type of advice is not the same audience that reads this blog.

5. The book is not my cup of tea
Every once in a while, I will read a book that I just don’t like. The book may not necessarily be bad, it’s just not for me, and it could be for one of many reasons. Others may really enjoy it. I just don’t want to write a bad review. As an author of a few books, I know the incredible time and energy that goes into writing a book. So instead of criticizing the book, I just won’t write anything, since I don’t want to deter another reader who may find the book to be just what they are looking for.

6. The book’s trading technique is too simplistic and not backed up with long term research
I received a stock trading book years ago, and it arrived a few months after the 2008 market crash. The book must have been published right around the peak of the the market. The technique could be boiled down to one sentence. Buy a good stock and sell it as soon as you have a slight profit. The rest of the book was filled with extraneous information about the stock market in general, which although somewhat interesting, did not relate to the trading technique. That wasn’t a major issue as many other books do that.
However, although a claim was made that the technique could be used in any market, the author used the results of a personal portfolio going back just two and a half years and ending just before the market crash. Looking at the current ‘holds’ in the portfolio at the end of the ‘study’ and comparing them to current stock prices at the time I finally read the book, it looked like the author would be holding most of those stocks for a long, long time (and it did take years for some to recover). A couple  of the stocks went out of business, wiping out most of the trading profits that the author had made for the last couple of years.
I think that if an author claims that a trading technique can be used in any type of stock market, the research must be done over periods that include bear markets, and definitely longer than two and a half years ending at a market top.

7. I just don’t have the time
At this time, I have many books that I agreed to review, that I still need to get around to. Who knows when I will get through the list. So if I respond that I just don’t have the time to review it at this time, I mean it.

One other thing relating to Advanced Reader Copies.

I receive over 100 books a year for review, and since I don’t have the space to keep all of them, I gift, give away, and use as contest prizes the lightly-read books in conjunction with the blog.

Unfortunately, an Advanced Reader Copy or an Advance Uncorrected Proof is awkward to give away as a gift and really isn’t the real book. Often, they have missing page numbers in the Table of Contents and Index, many typos, and other errors and misinformation. .

Even my library system won’t accept a donation of ARC books.

Therefore, in order to cut down on the number of submissions and to receive a book that can be offered to my readers, I will no longer be accepting books if the review copy designation is printed on the cover or stamped in the book. Any such books will be discarded, unread, and unreviewed.

This policy is similar to other major reviewers such as Midwest Book Review.

Anyway, I’ve written many book reviews during the last few months, and hopefully you will find one of them interesting. And if you’ve written a book, maybe it will meet all my criteria and hopefully I will have time to read it.

The Science of the Deal: The DNA of Multifamily & Commercial Real Estate Investing

by Fred Fuld III

If you are a real estate investor, or are considering investing in real estate, you definitely need to read The Science of the Deal by Shravan Parsi. He takes you through his experience starting out buying, renting, and selling single family homes to eventually investing in commercial real estate.

The book starts out describing the five critical keys to success. He then covers the various steps and milestones to become successful in commercial and multifamily real estate.

I found the most interesting and important chapter to be Chapter 5: The Potential of Downsides, which covers what to do in the event of failures and threats.

If you are looking to be a successful real estate investor, I highly recommend  The Science of the Deal.

 

 

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The Forever Transaction: How to Build a Subscription Model So Compelling, Your Customers Will Never Want to Leave

by Fred Fuld III

If you own or run a business, and you aren’t utilizing a subscription model, also known as a membership model, you need to read the book, The Forever Transaction by Robbie Kellman Baxter.

Have you ever ordered an item on Amazon, for example toothpaste, and you are given the option to save 5%, 10%, or even 15% on your purchase if you choose Subscribe & Save? This is an example of the subscription model.

The author goes into detail about how you can put this same model in place at your business for almost any type of product, and even services. She takes you step by step through the entire process from launching, to scaling, to maintaining your customers.

If you want to expand your business and keep your customers over the long term, I recommend that you read The Forever Transaction.

 

 

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The Seventh Power: One CEO’s Journey into the Business of Shared Leadership

by Fred Fuld III

The book, The Seventh Power: One CEO’s Journey into the Business of Shared Leadership, by Kevin Hancock, provides a new way of looking at corporate leadership. The author describes how the classical leadership structure of centrist power is now obsolete and should be replaced with a new leadership model of giving power to the individuals.

Hancock spells out his theory with many anecdotes and includes easy to understand diagrams. He describes the seven steps for the age of shared leadership and the five steps of his employment management system.

You will find The Seventh Power to be a fascinating book, complete with quotations from successful individuals, and even photographs.

Decisions: Practical Advice from 23 Men and Women Who Shaped the World

by Fred Fuld III

Every day we make decisions, and some of those decisions can have major decisions which can have significant effects on your life and the lives of others. The book, Decisions: Practical Advice from 23 Men and Women Who Shaped the World, covers the topic of decisions in an interesting and practical way.

The author, Robert L. Dilenschneider, has compiled an extensive list of noted historic people who have made decisions with worldwide consequences. For example, he has included:

  • Abraham Lincoln
  • Marie Curie
  • Johann Gutenberg
  • Harry Truman
  • Margaret Thatcher
  • Malala Yousafzai
  • and many others.

The author discusses the decisions and provides a list of useful takaways and learning points that you can utilize in your personal and business life.

Probably the most pressing decision you have right now is whether you should read Decisions. I highly recommend that you do so.

Top Investor and Trader Books for the Holidays

Are you looking for some reading during the holidays? Are you looking for some books that you can spend your Amazon (AMZN) gift cards on? Here is a selection.

Books on Stock Trading & Investing

These books are all about either day trading, swing trading, or investing in stocks and all have an average of four or more stars on Amazon.

Beat The Crowd: How You Can Out-Invest The Herd By Thinking Differently
by Ken Fisher

Investment Guide
by Gary Charles Palmer

Unleash Your Investments
by John Hagensen

Stock Traders Almanac
by Jeffrey A. Hirsch
(every stock trader should have this book)

Day Trading Journal
Wall Street News Network

Stock Trading Journal
Wall Street News Network

How to Day Trade for a Living: A Beginners Guide to Trading Tools and Tactics, Money Management
by Andrew Aziz

How to Make Money in Stocks: A Winning System in Good Times and Bad
by William J. O’Neil

Stock Trading: THE BIBLE This Book Includes: The beginners Guide + The Crash Course + The Best Techniques + Tips and Tricks + The Advanced Guide  Immediate Cash With Stock Trading
by Samuel Rees

A Beginner’s Guide To Day Trading Online 2nd Edition
by Toni Turner

The 1 Hour Trade: Make Money With One Simple Strategy, One Hour Daily 
by Brian P Anderson

Investment Trivia
by Fred Fuld III

Real Estate Investing

You have probably seen those ads on TV about flipping houses and investing in real estate. Before dipping your foot in the water, maybe you should read up on buying and renting homes. The following are some recent top selling books on real estate investing, shown by category. Read, learn, and invest.

Rental Property Investing
by Charles Pennyfeather

Real Estate Investment
by Lee Strong

Keep Claiming It!: A Guide To Property Depreciation
by Tyron Hyde

Business Books

Strategize to Win
By Carla A. Harris
A Wall Street veteran offers proven strategies for success.

The Pocket Small Business Owner’s Guide to Building Your Business
By Kevin Devine
Each step of the entrepreneur’s journey.

Boost Your Career
By Sander Flaum and Mechele Flaum
How to climb the corporate ladder.

The Serving Mindset
By Farnoosh Brock
Practical guide to making sales pitches.

The 7 Principles of Public Speaking
By Richard Zeoli
Improve your communication skills.

10-Minute Focus
By Daniel Walter
Guide to maintaining your focus and maximizing productivity.

Chasing the High
By Michael G. Dash
How to manage the highs and lows of business.

Getting to Yes
By Roger Fisher, William Ury, and Bruce Patton
Master the art of win-win agreements.

Your Living Trust & Estate Plan
By Harvey J. Platt
Tips on creating a living will and estate plan.

 

 

Disclosure: A couple of the books above were written by me. Affiliate links.

How to get Tools of Titans by Tim Ferriss for Free

If you have never read the book Tools of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers by Timothy Ferriss, you owe it to yourself to do so, and now is your chance to read it for free.

For those of you who don’t know, Tim Ferriss is an entrepreneur, venture capitalist, best-selling author, speaker, and podcaster. He has invested in and/or advised numerous startups, including Shopify, EverNote, StumbleUpon, Uber, Facebook, Twitter, and TaskRabbit.

The book, Tools of Titans, contains the ideas, tactics, and tools of over 200 of the world’s experts in their fields.

Currently, Amazon (AMZN) has a promotion whereby you can get the Kindle version of the book for free. ( I believe this offer is only for Amazon Prime members.) This deal is expected to be available for just a week or so, so if you are interested, I suggest that you get it now.

 


 

Top Business & Investing Books On Sale

Looking for some reading material or the fall season? Here is a list of business and investment books that are on sale through Amazon as Kindle edition. If you are interested in any of them, you should probably buy them right away, as these sales don’t last long.

Here are the books:

Strategize to Win
By Carla A. Harris
A Wall Street veteran offers proven strategies for success.
Sale price: $1.99 Retail: $12.99

The Pocket Small Business Owner’s Guide to Building Your Business
By Kevin Devine
Each step of the entrepreneur’s journey.
Sale price: $1.99 Retail: $10.99

Boost Your Career
By Sander Flaum and Mechele Flaum
How to climb the corporate ladder.
Sale price: $1.99 Retail: $12.99

The Serving Mindset
By Farnoosh Brock
Practical guide to making sales pitches.
Sale price: $1.99 Retail: $16.99

The 7 Principles of Public Speaking
By Richard Zeoli
Improve your communication skills.
Sale price: $1.99 Retail: $10.99

10-Minute Focus
By Daniel Walter
Guide to maintaining your focus and maximizing productivity.
Sale price: $0.99 Retail: $4.99

Chasing the High
By Michael G. Dash
How to manage the highs and lows of business.
Sale price: $0.99 Retail: $6.99

Getting to Yes
By Roger Fisher, William Ury, and Bruce Patton
Master the art of win-win agreements.
Sale price: $1.99 Retail: $12.99

Your Living Trust & Estate Plan
By Harvey J. Platt
Tips on creating a living will and estate plan. Sale price: $1.99 Retail: $11.99

 

Target Funding: A Proven System to Get the Money & Resources You Need to Start of Grow Your Business

by Fred Fuld III

The book, Target Funding: A Proven System to Get the Money & Resources You Need to Start of Grow Your Business by Kedma Ough is by far the the most thorough book I have ever read on getting money for startups and small businesses.

As someone who has created a couple of businesses, I know how hard it is to raise money. Target Funding is a complete guide to finding sources of funds, whether it be for an invention, a technology venture, a startup, a small business, and even franchises.

The book goes into great detail on funding if you fit into a special category, such as veterans, people with disabilities, minority, and women.

Startups are not just for young people. If you are over 50, you may be eligible for ROBS, Rollovers for Business Startups. Never heard of them? Then you better check out page 120 in the book.

How about an IDA, an individual development account, for setting aside funds for starting or expanding a business. If you haven’t heard of this, go to page 277.

Ough has done an outstanding job compiling all this information. I highly recommend  Target Funding.