Pound Foolish: Exposing the Dark Side of the Personal Finance Industry Audiobook

" Started off pretty decent as I was most interested in hearing the authors comments on Suze, Dave, etc. While I agree with some of the comments, I also take them with a grain of salt as I do not consider those people experts on finance, but more of self-help guru's who are selling a product. The remainder of the book went too far down the psychological path and really lost my interest as the pages turned. "

" In this book the author looks at the personal finance industry. She goes over the history of the field, starting with Sylvia Porter back in the 1930s when there wasn't much written on the subject and most middle-class people weren't involved in the markets. She follows the history of the industry up to the present where we have TV shows, magazines and websites devoted to personal finance, and a proliferation of authors and personalities. She takes a close look at popular gurus such as Suze Orman, Dave Ramsey, David Bach, Jean Chatzky, Julie Stav, Robert Kiyosaki and others revealing some disturbing information (many of these experts make lots of money on endorsed products, or have given conflicting or poor advice). She discusses problems with the conventional wisdom about investing, and takes a critical look at financial products such as 401(k)s and annuities. She reveals that many financial professionals make their money through commissions and by recommending products to clients from which they receive a cut, and talks about the tactics used during free dinners combined with financial sales pitches. She talks about the common line used for marketing to women, who supposedly are less savvy about financial matters, to just tell them to go to an advisor. She questions the sizable advertising money received by personal finance magazines for financial industry products that are often recommended in their pages. She also mentions how the financial literacy movement hasn't helped much, and programs are often sponsored by companies such as banks and credit card companies. It is also brought home that there are no sure things and timing the market is nearly impossible without a crystal ball. The author admits that she herself, a financial reporter for the Los Angeles Times, had no knowledge of the field or credentials when she started writing articles on financial topics. She does a great job of raising questions and red flags about the industry and critically analyzing it. However, she does not offer much in the way of any solutions or ways for consumers to find reliable help, which would have been nice. But the book is an eye-opener and cautionary tale for readers about the state of the financial industry today. (I had to skim the last couple of chapters to get the book back to the library on time.) "

" Well researched and unapologetic. "

" Before you make your next investment or meet with a financial adviser, I recommend you read this book first. The author also gave an excellent interview on C-Span Book TV. One of the most worthwhile finance books I have ever read. "

" A must read for anyone with a 401k "

" A rant against financial services industry with little constructive to add. "

" Anyone with a 401K should read this book. Actually everyone should read this book. And then Congress, with the knowledge that we've all read it. "

" A really important book. "

" Any interesting take on the personal finance industry. It is good to see in print that these "famous" personal finance experts are being paid by the companies for the products they promote. "

" A tour of the American personal financial industry. Gives you a lot to think about. "

" Not a self help book or a book of solutions. This book is simply an alarm clock to remind everyone to take a stake in their retirement plans and stop relying on the financial planning for help. Unless they are a fiduciary, their first obligation is to themselves. "

" Covers a lot of ground in a fairly superficial manner. Moves along and fun to read, but I wanted more information about many of the issues discussed. "