The Only Three Questions That Still Count Investing By Knowing What Others Don't

by Fisher, Kenneth L.; Chou, Jennifer; Hoffmans, Lara W.

• ISBN13: 9781118115084
• ISBN10: 1118115082
• Edition: 2nd
• Format: Hardcover
• Copyright: 2012-04-10
• Publisher: Wiley

Summary

Ken Fisher explains what the competition doesn't know From investment expert and long-time Forbes columnist Ken Fisher comes the Second Edition of The Only Three Questions That Count. Most investors know the only way to consistently beat the markets is by knowing things others don't. But how can investors consistently find unique information in an increasingly interconnected world? In this book, Ken Fisher shows investors how they can find more usable information and improve their investing success rate-by answering just three questions. Packed with more than 100 visuals and practical advice, The Only Three Questions That Count is an entertaining and educational guide to the markets. But it also provides a useable framework investors can use now and for the rest of their investing careers. CNBC's Mad Money host and money manager James J. Cramer says the book "may be the single best thing you could do this year to make yourself a better investor" Steve Forbes says, "Investors will find this brilliant book an eye-opening, capital-gains producing experience" The key to improving investing results is daring to challenge yourself and whatever you believe to be true, and Ken Fisher explains how in his own inimitable style.

Author Biography

Ken Fisher is best known for his prestigious "Portfolio Strategy" column in Forbes magazine, where his over 27-year tenure of high-profile calls makes him the fourth longest-running columnist in Forbes's 90-plus year history. He is the founder, Chairman and CEO of Fisher Investments, an independent money management firm managing tens of billions for individuals and institutions globally. Fisher is ranked #263 on the 2011 Forbes 400 list of richest Americans and #736 on the 2011 Forbes Global Billionaire list. In 2010, Investment Advisor magazine named him among the 30 most influential individuals of the last three decades. Fisher has authored numerous professional and scholarly articles, including the award-winning "Cognitive Biases in Market Forecasting." He has also published eight previous books, including bestsellers The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat, Debunkery and Markets Never Forget (But People Do), all published by Wiley. Fisher has been published, interviewed and/or written about in many major American, British and German finance or business periodicals. He has a weekly column in Focus Money, Germany's leading weekly finance and business magazine.

Lara Hoffmans is a content manager at Fisher Investments, managing editor of MarketMinder.com, a regular contributor to Forbes.com and coauthor of the bestsellers The Only Three Questions That Count, The Ten Roads to Riches, How to Smell a Rat, Debunkery and Markets Never Forget (But People Do).

Jennifer Chou graduated from the University of California with a BS in finance. She was a research analyst of global capital markets and macroeconomics at Fisher Investments.

Table of Contents

Preface	p. ix
Acknowledgments	p. xix
Question One: What Do You Believe That Is Actually False?	p. 1
If You Knew It Was Wrong, You Wouldn't Believe It	p. 1
The Mythological Correlation	p. 8
Always Look at It Differently	p. 15
When You Are Really, Really Wrong	p. 21
Question Two: What Can You Fathom That Others Find Unfathomable?	p. 31
Fathoming the Unfathomable	p. 31
Ignore the Rock in the Bushes	p. 32
Discounting the Media Machine and Advanced Fad Avoidance	p. 33
The Shocking Truth About Yield Curves	p. 38
What the Yield Curve Is Trying to Tell You	p. 49
The Presidential Term Cycle	p. 57
Question Three: What the Heck Is My Brain Doing to Blindside Me Now?	p. 67
It's Not Your Fault-Blame Evolution	p. 67
Cracking the Stone Age Code-Pride and Regret	p. 72
The Great Humiliator's Favorite Tricks	p. 85
Get Your Head Out of the Cave	p. 87
Capital Markets Technology	p. 95
Building and Putting Capital Markets Technology Into Practice	p. 95
It's Good While It Lasts	p. 100
Forecast With Accuracy, Not Like a Professional	p. 105
Better Living Through Global Benchmarking	p. 113
When There's No There, There!	p. 131
Johns Hopkins, My Grampa, Life Lessons and Pulling a Gertrude	p. 131
In the Center Ring-Oil Versus Stocks	p. 136
Sell in May Because the January Effect Will Dampen Your Santa Claus Rally Unless There Is a Witching Effect	p. 148
No, It's Just The Opposite	p. 155
When You Are Wrong-Really, Really, Really Wrong	p. 155
Multiplier Effects and the Heroin-Addicted iPod Borrower	p. 163
Let's Trade This Deficit for That One	p. 170
The New Gold Standard	p. 175
Shocking But True	p. 185
Supply and Demand … and That's It	p. 185
Weak Dollar, Strong Dollar-What Does It Matter?	p. 200
The Great Humiliator and Your Stone Age Brain	p. 213
That Predictable Market	p. 213
Anatomy of a Bubble	p. 221
Some Basic Bear Rules	p. 229
What Causes a Bear Market?	p. 244
Putting It All Together	p. 251
Stick With Your Strategy and Stick It to Him	p. 251
Four Rules That Count	p. 257
Finally! How to Pick Stocks That Only Win	p. 274
When the Heck Do You Sell?	p. 281
Conclusion: Time to Say Goodbye	p. 289
Transformationalism	p. 290
Causal Correlations and the Correlation Coefficient	p. 295
News You Can't Use	p. 299
Greater Fools	p. 301
I Hate Funds	p. 303
Annualized Versus Average	p. 307
The Wizard of Oz and an OZ of Gold	p. 309
1980 Revisited	p. 313
Popular But Problematic	p. 317
Covered Calls-Covering What?	p. 321
Notes	p. 323
About the Authors	p. 329
Index	p. 331
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