Since leaving his job as a top-rated stock analyst to become an investing columnist, Jakab has watched his readers—and his family, friends, and colleagues—make the same mistakes again and again. He set out to evaluate the typical advice people get, from the clearly risky to the seemingly safe, to figure out where it all goes wrong and how they could do much better.
Blending entertaining stories with some surprising research, Jakab explains·How a typical saver could have a retirement nest egg twice as large by being cheap and lazy.
·Why investors who put their savings with a high-performing mutual fund manager end up worse off than if they’d picked one who has struggled.
·The best way to cash in on your hunch that a recession is looming.
·How people who check their brokerage accounts frequently end up falling behind the market.
·Who isn’t nearly as good at investing as the media would have you think.He also explains why you should never trust a World Cup–predicting octopus, why you shouldn’t invest in companies with an X or a Z in their names, and what to do if a time traveler offers you economic news from the future.Whatever your level of expertise, Heads I Win, Tails I Win can help you vastly improve your odds of investment success.
“As Pogo used to say, ‘We have met the enemy and he is us.’ In this delightfully written book, full of wonderful anecdotes, Spencer Jakab shows us how to win the investment game by avoiding the stupid choices that even ‘smart’ investors make.”
—BURTON G. MALKIEL, author of A RANDOM WALK DOWN WALL STREET
“Jakab has crafted a cool-headed guide for those who are of necessity the part-time financial managers of their own retirement accounts… Heads I Win, Tails I Win provides a plain-spoken and accessible starting point for busy part-timers anxious to improve their odds. If you’re one of those people for whom investing is more art than science, this book is for you. Even if you think it’s more science than art, it’s also worth reading, if only to learn how the other half thinks.” —BARRON’S MAGAZINE
“Treat this like a lengthy dialogue with a kind, funny, and very wise friend who takes you through all the key principles of how not to lose money, and does it in wonderfully simple language without ever getting bogged down in numbers or jargon.”
—JOHN AUTHERS, chief investment columnist at FINANCIAL TIMES
“Jakab has written a very clear guide to managing your money in a very clear, witty, and easy-to-read style. This is the book you should read and then give a copy to your kids and friends.”
—JOHN MAULDIN, chairman of MAULDIN ECONOMICS
“Jakab provides readers with a road map of the numerous investing mine fields they’ll encounter on their way to financial independence. By avoiding them, readers can win by not losing. Read it and reap.”
—MEL LINDAUER, author of THE BOGLEHEADS’ GUIDE TO INVESTING and THE BOGLEHEADS’ GUIDE TO RETIREMENT PLANNING
“Spencer Jakab has distilled investing down to its most important parts, wonderfully explaining why so many investors go astray and how you can learn from their folly. Spencer’s columns amaze me for their ability to pack a punch in just a few paragraphs, saving readers from unnecessary jargon and fluff. He’s topped himself with this book.”
—MORGAN HOUSEL, columnist at THE MOTLEY FOOL
“This engaging and hugely insightful book helps individual investors understand how the markets really work and how they should think about their investments. Jakab takes a seemingly complex topic and makes it accessible to investors of all shapes and sizes.”
—BEN CARLSON, author of A WEALTH OF COMMON SENSE
“About once a decade a fun-to-read book comes out with good practical advice for investors. This book is it. It gets across the important points that investors need to know without being dry or dull. It is destined to become an investment classic along the lines of A Random Walk Down Wall Street.”
—JAMES ANGEL, Ph.D., professor of finance, Georgetown University
“Jakab pulls back the cover on the intimidating world of financial markets to help anyone find a winning investment strategy.” —MAXWELL LANE, head of business development at Openfolio
“This is one of the more humorous books on investing you will come across. Though Jakab, a former analyst for Credit Suisse and currently a columnist for The Wall Street Journal, paints a frightening picture of how inept most investors are, his jocular style will leave you laughing while teaching you valuable lessons.” —KARL KAUFMAN, Forbes
“Jakab is one of the smartest financial journalists I have come across in my three decades in this business. He is the rare bird who can combine expert financial knowledge in a package that is consumable by the masses. While he knows his Wall Street alphas and betas backwards and forwards, Heads I Win, Tails I Win is never Greek to those on Main Street.” —JOHN BUCKINGHAM, publisher, The Prudent Speculator, chief investment officer, AFAM Capital