Summary of How to Smell a Rat
The Five Signs of Financial Fraud
How to circumvent the financial fraudsters and con artists who are eagerly waiting to take your money.
The unlamented year of 2008 was a terrible time for investors. The news that money wizard Bernie Madoff stole some $65 billion from his investment clients with a giant pyramid scheme added insult to injury. Though already in his 70s, Madoff received a 150-year prison sentence for his thievery. Many felt the punishment was too light. The world is full of crooks and charlatans like Madoff. Fortunately for investors, they often give themselves away if you know how to spot them. In this savvy manual, business journalist Ken Fisher (writing with investment expert Lara Hoffmans) details five warning signs that can reveal crooks posing as financial advisers. getAbstract recommends this book to investors who are suspicious and to those who ought to be.
In this summary, you will learn
- How to identify six types of investors,
- How to spot the five warning signs of financial fraudsters and
- What questions to ask prospective financial advisers.
About the Authors
Ken Fisher, author of Forbes magazine’s Portfolio Strategy column, is the founder, chairman and CEO of a money management firm. Lara Hoffmans is an investment firm executive and a contributing editor for MarketMinder.com.
Comment on this summary
By the same authors
Ken Fisher and Lara Hoffmans
Ken Fisher et al.
Contained in Knowledge Pack:
Knowledge PackDetecting FraudFool me once, shame on you. Fool me twice, shame on me.
Customers who read this summary also read
Sound Wisdom, 2015
Applewood Books, 1986
Keith P. Ambachtsheer