Within hours of Radio 4’s MoneyBox broadcast, downloads of Monkey with a Pin are over 500.
By Matthew Vincent
Having started to read a more contemporary work – a free ebook on investing by market researcher Pete Comley – I am reminded that this tendency of professional fund managers to sell into troughs and buy into peaks is nothing new.
Indeed, the book brings together chapter and verse on the subject – and rather gives its conclusion away in its title: Monkey With a Pin (taken, Comley says, from the pseudonym of the “random” entry to the UK Stock Challenge investment competition that, on average, beats two-thirds of human contestants, and “many fund managers on salaries of £1m+”).
Paul Lewis will be talking to Pete Comley about the issues raised in his book about investing this Saturday lunchtime. Listen just after 12pm. Alternatively catch up later on iplayer or via the MoneyBox website
Monkey with a Pin has been reviewed by the Psy-Fi blogger in an article entitled: Your Self-Inflicted 6% Trading Tax.
I don’t imagine that most readers here would naturally gravitate to reading a free ebook by an author with no previous experience of writing about finance, focused on the UK’s peculiar investment landscape. Normally I’d agree but, in Monkey With A Pin, Pete Comley has written something rather interesting….
You can now read/download the book in full (in its print format) at Google Books. See: http://books.google.co.uk/books?printsec=frontcover&id=hhxUzg0dg7UC#v=twopage&q&f=false
25th April, 2012
A new investing eBook called Monkey with a Pin is published this week by private investor Pete Comley. The main theme of the book is that investors’ returns are never as good as the finance industry has been leading them to expect. Far from getting a yield of 5% above inflation over the long term, most are probably lucky to beat inflation. Indeed, many would have been better off leaving their money in a building society Cash ISA over the last 20 years.
Pete Comley says: “I wrote this book for other private investors like myself. I’m publishing it for free as I want as many of them to read it as possible. My analysis shows that the average investor is probably missing 6% a year from their investment returns whether they use funds or pick stocks themselves. There are many reasons for this and they include poor investing skill, charges and something called survivorship bias. By fully understanding where you can lose money, you can change the way you invest and do so more profitably.”
When asked why he called the book Monkey with a Pin, Comley replied: “As part of my research into trying to determine the skill of an investor, I was intrigued by the random entry in the UKStockChallenge competition of that name. On average it beats two thirds of contestants and usually the FTSE too. I suspect he may also beat many fund managers on salaries of £1million+.”
The book is available for free in all major eBook formats from monkeywithapin.com. It will also shortly be distributed in the main eBook retailers including Google, Apple and Amazon Kindle. ISBN: 9781476219615.
For additional information contact:
The eBook is officially launched today Monday 23rd April 2012. You can read it for free or download here in most eBook formats. To do this, you need to join this website to be able to access that page (terms/privacy). You can then also post your comments on the site.
It will be appearing over the coming weeks in all the main eBook stores, but beware it is possible they may charge for it.
Listen to the author talking about the book below.
The final manuscript is now ready. The eBook is going to be uploaded to Kindle and Smashwords (ie Apple iBookstore, Barnes & Noble, Sony Reader Store, etc) in the next few days with a view to making it available later in w/c 26th April. You will also be able to read and download the book from this website then too.
A free podcast version is also planned.
PRESS: Please click here to see the preview.
Here is final book cover: