The Naked Investor

The Naked Investor

Why Almost Everybody but You Gets Rich on your RRSP

Book - 2005
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Over 6 million Canadians control more than $500 billion in RRSP and RRIF investments...or do they?

Do RRSP owners support an industry that feeds on the fear and ignorance of Canadians ill-prepared to manage their retirement assets? While claiming professional status, financial advisors are salespeople often more closely aligned with mutual fund marketers and bond dealers than with their own clients. What's more, the industry insists on a policy of self-regulation, unhindered by direct government supervision and unresponsive to demands for transparency and accountability.

The Naked Investor sounds a wake-up call for Canadians hoping to retire in comfort and security. Through real-life stories, many of them heart-rending in their tragedy and unfairness, it exposes the dark side of the investment industry in dramatic fashion, revealing the ploys and tactics of greedy brokers and advisors, voracious banks and mutual fund operators, false prophets posing as celebrity gurus, and outright embezzlers who steal the dreams of trusting clients.

Written with passion and sly humour, The Naked Investor will disturb both an industry that appears more focused on building wealth for itself than for its clients and RRSP investors whose trust too often is misplaced with devastating consequences.
Publisher: Toronto : Penguin, 2005.
ISBN: 9780143016236
0143016237
Characteristics: xvii, 269 p.

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HandyFellow
Aug 10, 2017

An eye opening experience into the thin plastic money trench of shady 'financial advisers', where pimps and thieves run free, and good men (and women) die like dogs.

A first hand recounting of how the mutual fund and investment industries have only self regulated loose rules that they rarely adhere to and often ignore.

Some redundancy of sad stories, one after another, of good hard workin' folk, bilked out of their savings by unscrupulous money handlers - we get the picture, trust no one with your money, they have their interests in mind, not yours... no really, after umpteen examples, we get it.

I would also recommend 'Penny Wise and Pound Foolish', and anything by John Bogle or the Bogleheads guys, before you invest dime one.

n
NancySUDA
May 15, 2017

This book was very interesting. Easy to read. Good real-life examples. At first I thought it was old and maybe out-dated, but it is still relevant. Practical advice.

d
dirtbag1
Dec 05, 2011

This book is a must for those who want to know how the business world taxes those who seek advice. If you needed one book to have on your shelf to use as a reference this would certainly be a strong contender. Read this book before you invest.

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