How to Smell a Rat: Summary Review
This is a summary review of How to Smell a Rat containing key details about the book.
What is How to Smell a Rat About?
"How to Smell a Rat: The Five Signs of Financial Fraud" by Ken Fisher and Lara Hoffmans provides an overview of the warning signs of financial fraud and offers practical advice and strategies for investors to protect themselves from financial scams and investment schemes.
In How to Smell a Rat, trusted financial expert Ken Fisher provides you with an inside's view on how to spot financial disasters before you become a part of them. Filled with in-depth insights and practical advice, this reliable resource takes an engaging look at recent and historic examples of fraudsters, how they operated, and how they can be easily avoided. Fisher also shows you the quick, identifiable features of financial frauds and arms you with the questions to ask when assessing a money manager.
Summary Points & Takeaways from How to Smell a Rat
Some key summary points and takeaways from the book include:
* The book aims to help readers identify and avoid financial fraud by providing five signs or "red flags" to watch out for.
* The five signs are: Something just doesn't add up, Pressure to act fast, Unusually consistent returns, Too good to be true, Complexity and secrecy.
* The book also provides examples of financial fraud and tips for protecting yourself from fraud. The authors recommend that investors should be skeptical, do their own research and be vigilant for red flags.
Who is the author of How to Smell a Rat?
Lara Hoffmans is an author, managing editor of MarketMinder.com and a content manager at Fisher Investments, an independent money management firm based in Woodside, CA, which manages tens of billions of dollars and serves tens of thousands of clients, including high net worth individuals, foundations.
Kenneth Lawrence Fisher is an American billionaire investment analyst, author, and the founder and chairman of Fisher Investments, a fee-only financial adviser.
Book Details
- Print length: 224 pages
- Genre: Finance, Business, Nonfiction
How to Smell a Rat Chapters
Chapter 1 :Good Fences Make Good Neighbors
Chapter 2:Too Good to Be True Usually Is
Chapter 3:Don’t Be Blinded by Flashy Tactics
Chapter 4:Exclusivity, Marble, and Other Things That Don’t Matter
Chapter 5:Due Diligence Is Your Job, No One Else’s
Chapter 6:A Financial Fraud–Free Future
What do critics say?
Here's what one of the prominent reviewers had to say about the book: "Using well-known examples from recent headlines like Bernard Madoff and R. Allen Stanford along with a bevy of historical scam artists, Fisher details the red flags that should alert investors. They are: advisers who have access to your money; promises of returns that are too good to be true; mumbo-jumbo that takes the place of explaining investing strategy; fake benefits like exclusivity, and relying on someone else for due diligence." — Associated Press
* The editor of this summary review made every effort to maintain information accuracy, including any published quotes, chapters, or takeaways. If you want to enhance your personal growth, I recommend checking out my list of favorite personal growth books. These books have played a significant role in my life, and each one includes a summary and takeaways to help you apply the concepts.
Chief Editor
Tal Gur is an author, founder, and impact-driven entrepreneur at heart. After trading his daily grind for a life of his own daring design, he spent a decade pursuing 100 major life goals around the globe. His journey and most recent book, The Art of Fully Living, has led him to found Elevate Society.
