Fisher, Roger, and Scott Brown. Getting Together. London: Penguin Books, 1989.
Fisher, Roger, William Ury, and Bruce Patton. Getting to Yes: Negotiating Agreement Without Giving In. 2nd ed. New York: Penguin Books, 1991.
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About the Author
Steven G. Blum, who holds two law degrees, has been guiding clients through all aspects of their financial lives for more than 30 years. In addition to maintaining a law practice, he is a principal at Steven G. Blum and Associates, LLC, which places a special emphasis on the ethics of the professional-client relationship. The firm is based near Philadelphia.
Blum has been teaching in the Department of Legal Studies and Business Ethics at the Wharton School of Business of the University of Pennsylvania since 1994 and was a visiting professor at the ALBA Graduate Business School in Athens, Greece, for more than a decade.
In addition to teaching semester-long courses for undergraduate and MBA students, Blum has taught in Wharton Executive Education programs, lectured and consulted widely, and frequently leads seminars and educational forums. He has led training sessions for a number of Fortune 100 companies as well as organizations of lawyers, physicians, accountants, and other professionals.
Of all the different aspects of his career, Blum takes tremendous pride in his role as teacher. He believes it is the highest calling in society. He has five times won the William G. Whitney Award for outstanding teaching at Wharton.
Blum holds a bachelor’s degree from Wesleyan University, a law degree from Northeastern University School of Law, a master’s degree in education from Harvard University, a certificate of specialization in negotiation and dispute resolution from Harvard University’s Program on Negotiation, and a master’s degree in the law of taxation from the New York University School of Law.
To read more of Blum’s writings or to get further information, visit www.negotiatingtruth.com.
Index
Accountant
Achievement
Action, need for
Active listening techniques
Adversary identification of
vs. partner
Agents added knowledge of
agent employment foolishness
agent employment wisdom
conflicts of interest
extra drag of
interests and incentives
interests of
involvement of skilled
summary
Aggressive approach
Aggressive behavior
Agreement, structure
Agreement steps
All or nothing
Alternatives power from
use of from
when making direct investments
Annuity
Appearance, of good outcome
Arbitration system
Ask price
Asking about needs
Asset allocation
Asset classes beyond stocks
diversification of
major
Asymmetric information knowledge, taking advantage of
tricks of trade imbalance
summary
Atmosphere, interpersonal
Atmosphere creation
Authority
Avoiders
Ayers, Leonard P.
Bad outcome
Bargaining
Bargaining for Advantage (Shell)
Bargaining phase about
concessions, slow and fair
conditional language usage in exploration
fair and favorable proposals
fair share insistence
pie increasing and sharing
summary
Bartering
BATNA (best alternative to a negotiated agreement) awareness of
identification
of other side’s estimate
of other side’s, weakening
vs. relationships
strengthening
Bauer, L
eigh
Beardstown Ladies
Berkshire Hathaway
Best agreement
Best alternative, power from perception shaping of others
possible alternative inventory
summary
Best interests and trustworthiness
Best investment deal among many
Best possible price
Better offer vs. more money
Bias toward trusting
Bid price
Biden, Joe
Big-ticket negotiating similarity
Binding
Blind trust
Bogle, John
Bonding with others
Bonds
Brainstorming process
Broad index funds
Brokers, investing through
Brown, Scot
Buffett, Warren
Business model
Buy-sell disparity
Call (buy)
Callable bonds
Capital, controlling
Capital calls
Car sales
Care
Cash
Cautions
Caveat emptor
Certificates of deposit
Chamberlain, Neville
Charges. See Costs and fees and charges
Checking and getting out ability
Class A shares
Class B shares
Clients new and current
profitability from
retaining
Closing and commitment phase about
patience
promises that will be kept
scarcity as enhancement for deal
summary
Closing window of opportunity
Codes and expectations
Cognitive dissonance
Commission-based compensation
Commissions and fees. See also Costs and fees and charges
Commitments binding tightness
binding timing
degree of
duration
little agreement steps
meter
in negotiations
thinking about
throughout the process
what and when
summary
Commodities
Communication failures
method of
monitoring efforts of
planning
Compatible interests
Competition
Competitors
Complexity
Compounding
Compromise
Compromisers
Concessions
Conditional language
Confidence-building measures
Conflict(s) of interest about
agents
incentives
other than money
summary
Confusion
Contracts of adhesion
Contractual agreement, one-sided
Control, seizure of
Conversation
Convertible securities
Cooperation
Coppola, Francis Ford
Cost minimization
Costs and fees and charges advisor
of agents
awareness
brokerage charges
excessive
explanation of
of financial intermediation
hidden
hourly fees
management
negotiation over
sales charges
transparency of
Currency risk
Danger of lies
Data gathering
Data presentation
Deal, new
Deal improvement
Deal structure, possible options for best investment deal among many
cautions
training interest of others vs. yours
working together to make packages
summary
Dealers, investing through
Deals, Pareto optimal
Deciding consulting before
vs. inventing
Default risk
Defense systems
Defined-benefit plans
Defined-contribution plans
Demand response with confidence
Derivatives
Differential treatment
Direct investments, when making about
alternatives when investing through intermediaries
demand response with confidence
Direct purchases
Dirty tricks
Distractions
Distributive bargaining
Diversification about
of asset classes
asset classes beyond stocks
efficient markets hypothesis
further
index funds selection advice
in investment portfolio
and portfolio risk
risk tolerance and
summary
Documentation in writing
Dodd-Frank law
Dollar cost averaging
Double meanings
Dow Jones Industrial Average
Dubner, Stephen
Early exit penalty
Economic truths for investor-negotiators
Efficient markets hypothesis
Ego
E-mail
Emerging market bonds
Emerging market stock funds
Ending focus
Enemies
Errors
Even better outcome
Exchange Traded Funds (EFTs)
Exit fees
Expertise
Experts, trust of
Explanations, comprehensive
Facebook
Face-to-face cues
Fact collecting
Fair and favorable proposals
Fair deal
Fair division demands
Fair profit
Fairness about
defined
definitions of
fair share
fair share insistence
fair standard
fairest solution
measurement beyond market value
norms of
outside measures of
understanding of
summary
Fairness standards, insistence of use of beware of variances to
fair division demands
fees and costs awareness
measurement of
profitablity and transparency awareness
value-providing services payment
summary
Faithfulness
Fama, Eugene
Fee impacts
Fee-only advisors
Fees. See Costs and fees and charges
Fiduciary pledge
Financial advisors characteristics of
concerns about
investing through
questions for
Financial experts
Financial instrument
Financial markets, nature of
Financial practitioners
Financial products
Financial services firms
Financial services industry
Firm deadline
Fisher, Roger
529 College Savings Plan
Fixed pie
Flexibility vs. binding
options
Footdragging
Forbes (magazine)
Framework
Fraud, legal definition of
Freakonomics (Levitt and Dubner)
French, Ken
Friendly in person
Friendships
Front running
Future dollars
Gain
Gambling
Gambling and market return
Getting to Yes (Fisher, Ury and Patton)
Getting Together (Fisher and Brown)
“The Gift of the Magi” (Henry)
Give and Take (G
rant)
Goals. See also Individual goals; Interests, options, and goals; Relationship goals reflection vs. relationships
setting
tentative
The Godfather (movie)
Gold
Goldman Sachs
Good negotiating process
Good outcome about
appearance of
vs. bad outcome
defined
identification of
for investor
of negotiations
process planning
and relationships
vs. winning
summary
Good outcome regarding investments about
individual goals regarding
investment goals
summary
Google
Grant, Adam
Growth stocks
Haggling
Hedge funds
Henry, O.
High costs. See also Costs and fees and charges complexity and creative genius
impacts
Historical average stock return
Historical professionals
Hitler, Adolf
Honest dealings
Honesty
Human behavior
Ideal client
Ideas, latching on
If-then statements
Impatience
Incentives
Index funds
Index mutual funds
Individual goals about
investing to be clever
investing to be safe
investing to be wise
investing to feel connected to peers
Individual Retirement Account (IRA)
Industrial bonds
Industry risk
Inflation-protected bonds
Influence
Information access to
clarifying
on facts
Negotiating Your Investments Page 28