Comments on: Book Review: The Naked Investor

By: Dong

Dong — Tue, 07 Dec 2010 23:48:52 +0000

just ordered this book

By: Scott

Scott — Sat, 20 Feb 2010 18:54:07 +0000

I read this book a while ago and it was great.

It will be really eye opening for anyone who has money invested with an investment adivsor. I think investment advisors are helpful, although I wish more of them were simply fee based. – That way you can pay for the advice instead of getting free advice with a hidden fee. Trust me free advice is rarely “free.”

The current system really does not put the advisors interests and the clients on the same page.

I think there is a shift happening. As Canadians become more educated about how the system works and with the help of sites like this it is going to be more difficult for financial institutions to take advantage of consumers.

Just my two bits.

By: Readers love these books — Canadian Capitalist

Readers love these books — Canadian Capitalist — Mon, 20 Apr 2009 02:04:23 +0000

[...] Naked Investor by John Reynolds. In my review, I noted that the author delivers a scathing criticism of the investment industry in Canada for [...]

By: TStrump

TStrump — Sat, 28 Mar 2009 04:31:24 +0000

I read this book and it disturbed me.
After that, I decided that I would start doing it myself, eventually …

By: Canadian Capitalist

Canadian Capitalist — Tue, 16 Oct 2007 16:21:14 +0000

Do ask your advisor about his compensation and question what he/she is providing for you in return, but don’t take a hasty decision to meltdown your RRSP.

By: Gentleman

Gentleman — Tue, 16 Oct 2007 15:22:17 +0000

Great book! I’m now going to corner my advisor and ask him about my MER’s, DSC’s, trailer fees, etc. And I’m starting my RRSP meltdown immediately.

John, is this book available on CD?

By: Kevin Malone

Kevin Malone — Wed, 25 Jul 2007 21:49:39 +0000

This reminds me of the look on the face of my bank rep when I cashed out my RRSP to do Smith. Glummer and glummer she became as I explained calmly and with detail why shoving my max into my RRSP year after year was not going to accomplish nearly as much (for me) as getting rid of my mortgage and investing outside of an RRSP. “Well maybe there will be something we can do for you someday” is all she managed as parting words. Nothing ever felt so right LOL.

The annual RRSP ritual is of greatest benefit to the finance industry, that’s why they spend a small fortune make people feel like not using and maxing an RRSP is the sure path to living under a bridge in retirement. Doing the opposite (even theoretically) of what the banking industry wants you to do would be an interesting experiment…

By: JLR

JLR — Wed, 09 May 2007 15:22:54 +0000

Sorry, I dropped the word “eliminate” from just before “ineffective.”

JLR

By: JLR

JLR — Wed, 09 May 2007 15:21:54 +0000

Many thanks for the kind supporting words. Interestingly enough, some of the strongest support for the book’s premise has come from past and current advisors/brokers who recognize the problem and want to ineffective (that’s a euphemism) people out of the business. Please note that a new Revised Edition is out with updated material.

Much appreciated.

John Lawrence Reynolds

By: J

Mon, 12 Mar 2007 04:12:17 +0000

As an previous stock broker I can confirm that my firm definitely focused on the churn rate of client accounts. Most of my clients would have been much better off had they just paid me a fee and bought ETF’s