Yes, there is a 'magic bullet'. It's called methamphetemine. I don't recommend it. There are several other bullets out there that are helpful, but not quite 'magic', caffeine and ephedrine (ephedrine is a pre-cursor to meth). Healthwise your best bet is as TarpleyG said.
Start a journal. Write down EVERYTHING (calories, fat, carbs, protein) you eat every day. Weigh yourself every morning at the same time, naked, before you eat or drink anything. You starting goal should be about 1500 calories per day if you are about my size (5'9" and currently 260--was 315). I have done this a couple of times in my life and you will drop the weight, I promise. Eat every 3 hours if you can manage it but keep to your calorie count regardless. If you go over, skip breakfast or lunch the next day. Weighing yourself daily is that little demon in your head telling you he's watching.
I'll say that the calorie per day requirement varies substantially by individual. You might not lose weight at 1500 calories per day, or you might at 3,000. That is why the journal is so important. You need to determine exactly what caloric intake is keeping you at your current weight and decrease it.
There are lots of little tricks that will help you lose weight. Caffeine and ephedrine are both relatively safe and effective as appetite suppressants if used in moderation, although both will increase your blood pressure slightly, so don't add them to your diet unless your bp is well within safe range. If you drink coffee anyway, time it so you drink your coffee a little while ahead of eating. Try eating foods that are more bulky for their caloric content (I used to make omelettes out of egg whites and fat free cheese that were only 300 calories or so that were large enough that I, a glutton by nature, had difficulty eating the whole thing). Switch to calorie free drinks. Diet coke is no worse for you than regular, won't rot your teeth, and 150 calories less each.
Green foods are your friend. In general, lots of bulk and few calories.
I lost 80 lbs and kept it off for five years with the "calorie counting" method.
I hate to say it but you have to eat less.
Easier said than done for some. Some foods make you hungry.
Ditto excercise. It's hard to run long distances when your feet hurt. Biking (my own preference) has it's own "pleasures": crotch sores, chafing thighs, knee problems and carpal tunnel, for starters.
I'd love to try a recumbant bike. They tend to be quite a bit more expensive than conventional bikes, and the low profile makes you even less visible to the hordes of road hypnotized half asleep end-users careening on their way down your road.
I'm going to be the contrarian.
There is a member here (John? Want to acknowledge, or no?) who IIRC has lost over 100 pounds and kept it off, via a low-carb, high-protein regimen which has normalized his blood pressure, eliminated pre-diabetic symptoms, and given him back a level of vitality he had thought was gone for good.
Twice I have lost over 50 pounds using the same regimen. Twice, I have fallen away, returned to the high-carb lifestyle, and re-gained the weight.
This is not a failing of the lifestyle, it is a failing of my personal self-discipline.
Atkins is way too extreme. A MODIFIED carb approach will work, with OR without exercise, for the rest of your life.
None of the advice you've gotten thus far has been BAD.
This, to me, is preferrable:
http://www.proteinpower.com/ I'm going to agree with Fig on this. However, I don't find Atkins too extreme. The initial start is extreme for some folks, but as you progress it can be modified. I recommend getting a copy of the Atkins book and reading it and reading it again. The low-carb appraoch was the only thing that ever worked for me on a sustained basis. I've lost weight with and without the excercise doing it. The weight comes off faster with the exercise.
The low-fat, high-carb, work-your-ass-into-the-ground approach is not sustainable for most folks who have a life and for the most part is nothing more than a big lie put out by medical treatment industry to keep you coming back.
There are other programs/methods out there that base themselves on the Atkins core theory. The book "Neanderthin" by Ray Audette is one, "Sugar Busters" is another. Do research and find what fits your lifestyle best.
I wish I had known this long ago. Perhaps my military service would have gone much easier.
And NOTHING is instant. 1 pound/week is 52 pounds/year, and is sustainable. 5 pounds/week for 2.5 months, and it'll come right back.
Yup. My doc didn't want me losing more than 2lbs/week, but to lose that 2lbs a week, I had to keep my caloric intake less than 1800cals/day.
Chris