The Big Investment Lie: What Your Financial Advisor Doesnt Want You to Know

“Edesess speaks as only an insider could. The evidence is that all of the complex, expensive strategies sold by active money managers simply are not worth the cost. This book provides simple, effective guidelines for a successful investment experience for everyone.” —David Booth, Chairman, Chief Executive Officer, President, and Chief Investment Officer, Dimensional Fund “With wit and accuracy, and based on years of personal experience, Edesess provides clear and easy advice that will help you add substantial value to your portfolio.” —George Case, consultant and analytical software pioneer

MICHAEL EDESESS is an accomplished mathematician and economist with experience in the investment, energy, environment, and sustainable development fields. He was a founding partner in 1994 and chief economist of the Lockwood Financial Group until its sale to the Bank of New York in September 2002. Previously an independent consultant to institutional investors, his clients included several of the largest investment banking and consulting firms. His areas of expertise cover the range of applications of mathematics to investments, including performance and risk measurement; Monte Carlo methods for asset-liability, asset allocation, and pension planning models; dynamic hedging using futures and options; effective style mix determination; backtesting; and quadratic portfolio mean-variance optimization. Dr. Edesess has spoken at conferences on investment research and taught courses in international finance, economics, mathematics, statistics, systems analysis, and environmental policy at four universities. He has been published in the Wall Street Journal and the Journal of Portfolio Management and has been interviewed on CNBC.

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