About the book

How to Smell a Rat, The Five Signs of Financial Fraud is the latest book from New York Times bestselling author and CEO of Fisher Investments, Ken Fisher.

With the recent investment fraud led by Bernard Madoff dominating headlines, many investors today are unsure who to trust with their hard earned money. In How to Smell a Rat, Ken Fisher seeks to teach investors to spot five signs of financial fraud, and protect themselves against similar fraud in the future!

Using real examples of recent and historic fraud, this book examines how they operated and how investors could have avoided them. Ken goes on to identify important red flags and questions investors can use when evaluating money managers.

How to Smell a Rat is an informative guide, and entertaining read, helping to arm readers with the tools necessary to protect themselves from financial fraud.

Madoff stole billions. Stanford’s alleged to have done the same. Even some relatively "smaller" cons stole many millions. That may make a smaller investor think they’re safe. If you don’t have a big bundle, a con artist won’t be interested, right?

Dead wrong. The scandals you read about are sensational size-wise, but these scams go on endlessly on smaller scales in small towns everywhere. These don’t make the papers—maybe not outside their regions—because the scams get outed before getting too big. But victims don’t care if it was a big scam or small—they still lost everything. And even the biggest scams started small, once.

And successful con artists rely on their communities to supply victims (detailed in Chapter 4). Many intentionally prey on friends and neighbors—which means the small-town angle suits them fine. Madoff was based in Manhattan. But plenty of cons focus on smaller communities where their connections buy them less scrutiny—like Darren Palmer who terrorized Idaho Falls, Idaho, or Nicholas Cosmo, who based himself in Hauppauge, New York—a hamlet in Long Island a ways outside slick Manhattan.

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