Summary of The Big Investment Lie

What Your Financial Advisor Doesn`t Want You to Know

Berrett-Koehler, more...

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The Big Investment Lie book summary
Beware the professional fund management firm: Here’s the lowdown on unscrupulous investment advice.


9 Overall

9 Applicability

7 Innovation

8 Style


This hard-hitting book on professional investment advice is a little like a confession. Indeed, Michael Edesess founded a financial business, and admits that on numerous occasions he sat listening silently as sales people lied to and deceived investors. Divided into three sections, the book takes you through how much investors pay advisors, how little investors receive in return and the sales techniques advisors use on their clients. What Edesess says about finance and investing will come as no surprise to people who are familiar with Wall Street. The author’s passion, and his understanding of how the investment management business works, is invaluable. getAbstract recommends this book as a warning to all investors.

In this summary, you will learn

  • Why the investment management business is a net drain on investors’ wealth
  • Why hedge fund managers are so wealthy
  • How financial advisors and fund managers construct their sales pitches to exploit naïve and greedy consumers
  • How to invest without giving your money away


The Beardstown Ladies
In the 1980s, a group of female senior citizens living in Beardstown, Illinois, formed an investment club. They exercised old-fashioned, American-heartland frugality and common sense, and invested according to their homespun principles. They did homework and footwork...
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About the Author

Michael Edesess, Ph.D., is a mathematician and chairman of an international nonprofit organization. He was a founding partner and chief economist of a financial group.

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