Michael Edesess learned early in his career that the investment industry's claims that it could beat market averages were simply not true. Professional investors, it seemed, could not predict stock prices better than the nearest cab driver. ''The Big Investment Lie'' helps readers cut through the thicket of hype in this perilous area, showing how widespread acceptance of the '' lie'' allows an entire industry to prosper on the small investor's dime. Edesess shows readers how to break free from this pervasive falsehood and pursue sensible investment policies. Individual chapters cover such subjects as the high cost of investment advice, effective pitches to sell the big lie, the hedge fund bonanza, derivatives, the '' good old boys' club'' of institutional investors, and much more. The final chapter, '' Ten New Commandments for Smart Investing, '' gives a simple, sound plan for everyday investors to maximize long - run wealth and achieve a secure financial future - without the '' help'' of predatory professionals.