Book Description
Unlock the secrets of an ancient charting tool
The most ancient form of charting, the Japanese candlestick method has become an extremely popular analytical tool among the new generation of traders. However, because of the aura of mysticism surrounding candlesticks and the arcane terminology typically used to describe them, many traders in the West never really learn how to use them properly and exploit their full potential. Profitable Candlestick Trading demystifies candlesticks for today's traders. With the help of numerous real-world examples, Bigalow clearly explains how candlesticks work, how to read them, and how to maximize profits with them. Bigalow shares some of his original candlestick-based trading programs, the same programs which have yielded impressive results for his clients at leading financial firms in the United States and abroad.
Customer Reviews:
Great Information But..............2007-08-17
I'm very pleased with the information contained in the book. However, most of the information contained in the book can be found on the authors website for free. Just google Stephen Bigalow and check it out for yourself, lots of info in the forum at that site as well. I read some other reviews (at another site) that recommended his second book over this one as the basics can be found at his website (and several others) and you can get more into the theory in the other book. With that said I still recommend it and would say its a 5 star rating based on the information. I use it every night while doing my research for the next trading day. Anyway, just something to know. Seems most days you can find just about anything on the net if you look hard enough. May all your days be bullish kickers!
Excellent CandleStick Trading Book.......2007-05-05
I am a beginner Commodities/Futures Trader, and am in the process of learning everything I can about all the various trading tools and charting methods. My expectations after having read a lot of books now, is that the book should contain a focused look at the 'topic' followed by primary, secondary and tertiary examples of how the methodology of the subject can work effectively AND when it doesnt work well. Stephen Bigalow did an excellent job. The only weakness? The vast amount of analysis provided was for Stock Traders, even though the CandleStick methodology was invented for commodities/futures trading. There is a 3 page section that covered how effective the Candlestick charting method is for commodities trading, but in those 3 pages, he basically says that Candlesticks were invented for Commodities Trading and all the examples that are in the book apply BETTER for commodites as the underlying factors of price in Commodities are not as variant as they are with stocks. Bingo. So why all the analysis based on Stock Trading? I guess he had to play to the larger market of buyers. Anyway, he covers every kind of pattern, and his explanations are clear, succinct, and understandable. I highly recommend this book if you want to understand CandleStick's.
Good fundamentals.......2007-01-12
This book is an excellent introduction into Candlestick Trading. The author shows how to gauge market sentiment in an unusual way. Highly recommended!
Candlestick patterns work -- regardless of whether the market rises or falls !!.......2006-09-09
I attended Steve's seminar 2 years ago, and have been using candlestick patterns ever since. This is an excellent book which provides an easy-to-read introduction to candlestick charts. Steve's approach is a major element of my trading plan.
Great Reading.......2006-05-29
This is an excellant written book,simple step by step explanation of the candlestick methodology. I was impressed with the ease in which I learned the 12 Major candlestick patterns.This book has taken the mistry out of candlestick reading,
and it will place a wealth of knowledge in the hands of newbee traders like myself.Excellent book.
Book Description
Swing trading is gaining popularity as a powerful method to increase returns—and potentially lower risks—by profiting from short-term price moves. The Master Swing Trader explains how traders can use technical analysis, charting, and market sentiment to make trades that hold through price fluctuations and noise with wider stops. This complete, practical guide to making profitable short-term trades—based on the author’s popular “Mastering the Trade” online course—uses dozens of charts and graphs to illustrate proven swing trading concepts and strategies. Experienced day, position, and online traders will benefit immediately from: - The 7 Bells – unique tools to uncover promising short-term prospects - Techniques to profit from low-risk short sales - The 4 repeating cycles for perfectly timed trades
Download Description
The Master Swing Trader explains how traders can use technical analysis, charting, and market sentiment to make trades that hold through price fluctuations and noise with wider stops.
Customer Reviews:
A good, if hard to read, trading book.......2007-07-28
I felt the need to post a review because it seems to me most reviewers think the only options for rating a product are 1 a 5. To preface: I'm a college student who has recently been looking into technical analysis. This book was recommended to me by a friend. I don't claim to be an expert in trading.
First of all, I have to agree, this book is incredibly hard to read. The author comes off as an over-verbose pretentious individual.
Difficulty aside, this book gives you an incredible wealth of information on trading. I couldn't disagree more with a past reviewer who claims that this book is marketed as a "Get rich quick". I feel this book is quite the opposite. It gives you a very practical overview of many of the popular indicators and TA techniques(as opposed to say, the introductory explanation as offered in Murphy's) as well as lots of general tips to aspiring swing traders. It then goes on to outline some very thoroughly defined trading systems and all the knowledge needed to execute them.
This book is long and to be honest, painfully boring sometimes. However if you are looking to increase your knowledge of trading, I feel this is a book that should definitely be considered. Look elsewhere if you want a quick weekend read.
No substance.......2007-04-18
There are some good principles in the book, but its way to easy to get lost in all of the repetition and blandness. The section on fibonocci retracements was useful and seems to work well for me in practice; however, I didn't get much else from the book.
One of the Best.......2006-11-12
I had read a lot of reviews over this book before deciding to purchase it. The reviews--more than any trading book out there, at the time--pretty much had the vote split between people who absolutely hated it and those who absolutely loved it. The deciding factor that lead to my purchase was the author (a professional trader of many years) of another book who spoke highly of "The Master Swing Trader"'s author, and the work he had done in writing this piece.
This is not a fluff book to hook you into trading. This book is geared towards those few individuals out there who wish to make trading a profession, rather than a passing fancy. I read a large number of those fluff books during my decision to become a professional day trader. I wish I had picked up this book first, because it goes into all the techniques I now use today in order to be successful. Not only does this book discuss the various trading techniques and their set-ups, along with all so important exit strategies, but more importantly it discusses why price moves in certain directions, why it jumps forth, why it breaks down--basically, it offers rare insights into the psyche of the trading crowd that is the market (all those traders out there who are competing against you).
The writing style has been berated as too 'text-book' in presentation, but I beg to differ. It flows with an elegant prose that distinguishes the author not only as a true trader, but also as a true writer who can hook those who wish to relate to the generously offered insights. Only those who have been through the grueling battles in actual trading scenarios and who hunger to know why things went right or why they went wrong, will appreciate this work and set it up on their bookshelf next to the other trading classics.
If you are used to simplistic writing such as can be found on any dimestore bookshelf, with the likes of Stephen King, this elevated work may certainly be beyond your grasp. If, however, you can digest proper grammer and get past poetic prose, this book will open a window rarely seen before. It is probably one of the best all around trading books ever written.
Good luck to those aspiring traders who hunger to understand market sentiment.
WOW...just wow.......2006-11-09
What a horrible book. The writing style of the author is horrendous! Impossible to follow or even comprehend what he is trying to teach. All the information in this book is readily available online. Save your money and buy "Mastering the trade" by Scott instead.
Solid Technical Trading Book.......2006-09-24
First, I agree that the author needs to learn how to write properly. Some of his thoughts are all over the place, and need some work. His editor must have been a complete moron. Nevertheless, after going through the material, I felt the book had some good trading ideas to offer, if your familiar with technical analysis. The seven bells are a useful place to start looking for trading setups, and are the most valuable part of this book. With that said, John Carter's Mastering The Trade is much, much better if you had to only buy one book. If the author edits his writing a little bit better, stops trying to be like Shakespeare (go write fiction if you want to do this big guy), his book would be much improved. It would also be useful to see some stats on how his 7 bells do in actual trading. He sometimes makes comments like an 65-80% of the time it will work... well I could tell you the Tooth Fairy is real, too, but show me some evidence!
Book Description
A backyard nursery is a great business opportunity for the person seeking some level of self-employment. It can be a full-time operation for the entrepreneur, or a part-time enterprise for a stay-at-home Mom, the retiree who wants to supplement a pension, or the landscaper who wants to make additional income by both selling and installing plants.
Customer Reviews:
Growing Profits.......2005-09-17
This book is a well written, concise basic introduction to the subject. The book helps the beginning businessman stay out of legal trouble by providing information on licenses, taxes,and zoning codes. Different operating options are provided as well as plant care and equipment requirements.
Not much useable info but some good ideas........1999-02-18
Only one paragraph on greenhouses, no wonder he only can make a few thousand. You really need a greenhouse to grow your starts in this business and to have only a little on this subject tells me alot..( he never made it big) There is no mention of caring for the enviorment here, The use of posins are recomended and no real overall plan for runoff or water table poulution, guess he doesn't care. Any way if you got extra bucks, get it cause one good idea can be worth the price.
Delivers. Written by experts. Easy to read. Practical........1998-05-20
Here's their back cover blurb: "Learn how to start a nursery in your backyard with virtually no capitual investment. In an area of only 1,000 sq. ft. it is possible to generate over $5,000 worth of plants in a single growing season."
The 207 page book delivers on its promise. The book is particularly good in explaining the value of "time" in the nursery business. If you expect to make money with your greenhouse... or with a nursery business, this is an EXCELLENT book to get.
It's easy to read and contains lots of money-making ideas. Here's a way to get that greenhouse by your spouse... "look at the extra money we can make!" If you have teenage children, this is a great way for them to earn extra money. If you're a business man, I think there you can make more money with less work in other ways. But hey, it's fun. The book is oriented to growing flowers and shrubs... and not so much for growing vegetables. Although growing herbs is one of the things recommended. They deliver on describing how to make $5,000 in only 1,000 sq. ft. The most important thing this book delivers is the core thinking process that a nurseryman must analyze in terms of time, and profit per unit of time. I didn't realize this was so important, but now it makes sense to me.
Book Description
This multifaceted book present important information about how to start a horticultural business. Topics include hot to make and sell private label potting soil worth thousands of dollars, business and marketing highlights, how to choose the best money making plants, financing, etc.
Customer Reviews:
Some good info........2002-05-03
A lot of growing info and what does not work, but some good ideas make this book worth while reading. Wish it had more on the art of selling the plants. Bought Secrets to a Successful Greenhouse and Business, after this one and do highly reccomend it. Love my greenhouse so much!
A "must read" for anyone engaging in commercial horticulture.......2000-06-06
Plants For Profit: Income Opportunities In Horticulture is a unique, authoritative, original book written by a world renowned expert in the field of ornamental horticulture specifically for readers interested in engaging in commercial horticultural ventures. Plants For Profit shows how to find a good job working with plants, how to start, operate, and finance a horticultural enterprise. F.X. Jozwik provides a concise overview of marketing and plant culture with a wealth of practical and insightful advice that will save the aspiring commercial horticulturist thousand of dollars and maximize return on capital investment. Jozwik shows how to grow trees, plants, and flowers profitably, which plants are in demand, even how to find a good job in horticulture so that you can earn while you learn. If you are a gardener, horticulturist or farmer considering an expansion into raising and selling ornamental plant, begin with a thorough reading of Plants For Profit.
Customer Reviews:
A Step beyond Asset Allocation and Annual Rebalancing.......2007-02-24
For all of us that are interested in taking a more active role in our investments, the processes in this book are a good next step. There is a rare balance of acceptance of risk and potential gain in the author's suggested quarterly re-allocation method. The method is not a "read the market" approach, which virtually no one can do consistently, if at all. It is rather a method to use recent fund performance as a purchase / reallocation guideline for short periods of time (as in quarterly). It is definitely not for everyone, because of the quarterly attention required. A very good incremental step in a maturing investor's education.
Important Investment Guide for the Novice and Expert alike.......2006-11-27
Being a financial advisor, I've come across books that range from the very basic to the ridiculous.
Appel's book, although more conventional then his previous titles, lays out a comprehensive, although extremely practical and relevant strategy for 1) understanding how the markets both stocks and bonds work and 2) giving the investor various options to use that although do involve time and some monitoring, provide a solid blue-print step by step guide that will allow them to more intelligently invest with their hard-earned assets while reducing risk where possible.
Moreover, the combination of fundamental and technical analysis in security selection allows the investor to capitalize on both areas of the market that are affected by emotional factors (external events) but also takes advantage of proven technical and analytical strategies that in the long-haul will give the investor above market gains.
Highly recommended.
Practical Investing Guide for Self-directed Investors.......2006-11-07
Gerald Appel is a well-known author, technical analyst (and developer of the Moving Average Convergence Divergence (MACD) indicator) who has written a practical guide to investing while dispelling a number of Wall Street myths on along the way. His book's purpose is to help readers who have limited time on their hands become active intelligent investors, as well as to help those individuals who are willing to put in more time and effort.
In the book, Appel covers specifically which vehicles to invest in, the timing of the buys and sells, and how to construct a portfolio that is diversified and balanced based on the individual's age and financial situation. Throughout the book, he stresses the importance of active, informed, self-directed investing instead of the out-of-date and risky buy and hold approach which "may or may not service investors purposes in the future."
The author suggests that investors focus not only on the U.S. stock market, but also on the overseas markets. He recommends investing in U.S. stocks, bonds, and money market instruments, as well as the more unfamiliar foreign bonds and stocks, real estate, and investments in foreign countries.
Appel kicks off the book covering the myth of why buy and hold is not a risk-free investment strategy compared to active management. He shows that by using a few indicators such as the NASDAQ/NYSE ratio, direction of interest rates, public sentiment, and the Best Six Months Strategy (buy at end of October and sell in May and go into cash until next October) that investors can reduce their risk and obtain decent investment performance. For example, by using the NASDAQ/NYSE relative strength ratio with a 10 dma crossover signal, according to Appel it is possible to beat the market's performance with about half the risk.
In another chapter, the author compares three diversified mutual fund portfolios showing how different market segments work well together to reduce risk and improve returns. He covers the basics of how to select the best mutual funds by providing the most important characteristics to consider for the long run. Furthermore, he illustrates how to pick funds that are in the top decile of performance.
Appel devotes a separate chapter to income investing suggesting short-term bonds with high credit ratings, and current interest flow. In a section on maximizing safety he mentions T-bills, money market accounts, and setting up a bond ladder with wide diversification. He also reviews what to focus on for maximum potential returns, as well as balancing risk and return. A follow-on chapter reviews the keys to securing junk bond yields at Treasury bond risk levels. Another chapter reviews investing in REITs while another covers investing abroad using open-end and closed-end funds as well as ETFs.
Appel favors ETFs as a new way to invest replacing the typical mutual funds. He contrasts the pros and cons of ETFs, the different ETF categories, and how to create and maintain a diversified portfolio. He provides three specific sample portfolios for different types of investors.
The author's market timing approach encompasses both fundamental and technical analysis. On the fundamental side he reviews the P/E ratio, bond yields, earnings yields and provides guidance on how to interpret the readings. On the technical side, he discusses the four year and presidential election market cycles, advance decline line, and new high new low breadth indicator.
Overall, Appel provides readers with a time-tested practical approach to take control of their investments. For those readers that prefer investing using their own skills this book will provide and excellent plan for moving ahead and succeeding.
Good book.......2006-10-31
Really like this book. Covers sector rotation, etf's, how to position yourself to profit regardless of the market. Good, usable information. Yes it is backtested info. Use at your own risk. I like it!
Book Description
An extraordinarily powerful process that has proven to deliver immediate results for some of the country's most admired business leaders: higher productivity, improved quality at lower cost, reduced employee turnover, and superior financial performance. With stories of vision, endurance, faith and failure, Destination Profit delivers dozens of exercises and key business examples that lay out step-by-step how to apply the authors' unique 4-A Process-awareness, alignment, accountability, adaptation-to create a people-centered organization that is productive, profitable, and a sustained competitive leader. Readers will discover that this process begins with destination as the goal that organizations and individuals within them want to reach-their own best workplace.
Book Description
This unique book covers in detail over 40 different real estate business and investment opportunities that can be started with minimal cash. Start your own part-time or full-time real estate business or investment career with the ideas contained in this virtual encyclopedia of real estate opportunities. There is no other book on the market like this. Most real estate books cover only a few topics. This book covers dozens of small business and investment ideas that will give you the ideas to get started today. In addition, the book has extensive additional resources and websites to help further your education.
Here is a small sampling of real estate businesses and investments covered: Apartment Preparation Services, Flipping Houses Fast, Mobile Homes Profits, Multi-Unit Income Property, Perpetual Income from Houses, Low-Budget Land Deals and Flips, Rooming House Money Machines, Cell Tower Land Leases, Foreclosure Consulting and Mediation, Bad Paper Profits, Title Examiner, Real Estate Publishing, Real Estate Sales Careers, Note Brokerage, Master Leasing and Subleasing, Parking Lot Rental Space, Garage Storage Unit Rentals, Property Management Services, Wholesaling Property, Lease Options and Rent-to-Own Houses, Eviction Services, Land Trust Trustee Services, Discount Note Investing, Marketing Consulting, Land Deals, Maintenance Services, Home Inspection Service, Creating Notes/Income Streams from Wraps, Mortgage Brokering, Judgment Recovery, 1031 Exchange Services, Landlord Consulting, New Construction Cleanup Services, Low Income Housing and Section-8 Housing, Handicapped Rentals, 4 New Real Estate Consulting businesses, and many more...
Beyond real estate, the book contains numerous chapters on street-smart entrepreneuring, along with tips, guidelines, and strategies for operating a business or investment program with minimal cash.
If you like a book with plenty of ideas, quotes, tips, and resources for further information marked in bold, then you will like this book.
Customer Reviews:
Where are the "Business Plans"?.......2005-03-30
When I saw the description of this book on Amazon, I was under the impression that there were actual business plans in this book. I was hoping to find some sample real estate business plans, but there are none. This book has over 40 "Descriptions" of real estate businesses, so that's what they should call it- "Descriptions". In my opinion, the use of the term "business plan" in this book is misleading.
WOW, This book is jammed packed with real estate ideas.......2003-01-18
This 2002 book is the latest of Bryan Wittenmyer's three books and it is the best. I recommend all three, but this one is my favorite. For one, this book appears to be professionally edited and comes with an index, unlike his previous two endeavors.
At 370 pages this is also his longest book and it is jam packed with over 40 real estate business plans. Included are such far reaching opportunities as title examiner, cell phone tower lease, real estate paper, publishing, broker, land investor and many more.. He provides the business model and the tools and skills required for these diverse paths. I expect that many of them are paths taken by the author and some close associates. If you can't find a real estate opportunity in this book, there probably isn't one for you. Mobiles homes, real estate consultant, professional management, home inspection, are just some of the topics in this book.. There are chapters on marketing, business tips and secrets and the 10 stupid things business owners do. The amount of good information contained in this book is just overwhelming. The author has a website ... and I know he'll answer your questions about the books as he has answered mine. Some of the things that I like about Bryan Wittenmyer's books is that there is no fluff, he has done much of the things that he writes about, and that he presents his material in an easy to read, informative, and intelligent manner added details missed in other books and telling you the pluses and the minuses.
Real Estate Business and Investment Opportunities.......2002-10-31
I just received the book (real estate bus and inv opp)
and am blown away by the amount of information that is packed
in it. It appears to be about 5 books crammed into 1
book.
There are so many new ideas in there with the interesting part being pros and cons for each idea. Very seldom, do I come across books with the cons distinctively spelt out. I can use this book as a primer because it talks about how to start simple yet
effectively, where to spend money and where not to.
Real Estate Business and Investment Opportunities.......2002-10-31
I just received the book (real estate bus and inv opp)
and am blown away by the amount of information that is packed
in it. It appears to be about 5 books crammed into 1
book.
There are so many new ideas in there with the interesting part being pros and cons for each idea. Very seldom, do I come across books with the cons distinctively spelt out. I can use this book as a primer because it talks about how to start simple yet
effectively, where to spend money and where not to.
Book Description
Unprecedented numbers of entry-level workers to CEOs are racing to join the 10 million Americans working for non-profits. Applying 30 years experience in non-profit recruitment and management, King reveals the inside secrets for switching to non-profits: strategic volunteerism, building a non-profit contacts network, gaining credibility in a non-profit community, learning how non -profit leaders think and hire, writing effective resumes even when you lack any non-profit experience, and more.
Customer Reviews:
Love Your Job Love Your Life.......2005-03-23
Richard M. King has written a beautiful book about finding your life's purpose by working for a nonprofit organization or charity. From Making a Profit to Making a Difference is a step-by-step guide that leads the way through challenging transitions from a profit-oriented world to a people-focused world of nonprofit organizations. He shows you how to write an effective resume when applying for a nonprofit job and explains "strategic volunteerism."
Chapters:
1. Assimilating Into the Nonprofit Culture
2. Transferring Business Skills to the Nonprofit Sector
3. Classifying Your Nonprofit Interest
4. Strategic Volunteerism
5. Networking in the Nonprofit Sector
6. Resumes and Cover Letters for Nonprofit Jobs
7. Compensation in the Nonprofit Sector
8. Directory of Nonprofit Recruiters
9. Professional Fund Raising Consulting Firms
10. Selected Professional Associations
11. Sources of Philanthropic Information
12. Resource Collection
The author mainly wrote this book for business professionals who have been considering a new career in the nonprofit sector. The following may be of interest if you are considering a job change:
Identifying Your Transferable Skills
The broad scope of activities the nonprofit sector offers - lists of charitable purposes and causes
Questioners to determine your main interests - this helps you identify the type of nonprofit organization that interests you
If you have a desire to make a difference in the world, this book will encourage you to make the transition and enter a world where you start to enjoy your life and you actually love your job. If you are interested in volunteering, Richard M. King also offers quite a few chapters to help you determine your main interests.
You may also enjoy:
Non-Profits & Education Job Finder by Daniel Lauber
International Job Finder by Daniel Lauber
~TheRebeccaReview.com
Excellent resource!.......2003-11-27
Even in our economic downturn, wonderful career opportunities exist -- and this book shows you where to look! Well-written and extensively researched, From Making A Profit to Making a Difference offers excellent advice and tons of practical information. This book is a must-read for everyone who wants a satisfying career making a positive difference in our world!
Book Description
Let the legends of finance be your money managers! Imagine having the opportunity to ask Babe Ruth how to hit, or Charles Lindbergh how to fly. Investment Titans assembles an unprecedented panel of Nobel laureates and great financial thinkers--including Harry Markowitz, Paul Samuelson, John Bogle, and others--to ask: "How can investors make smart decisions that minimize risk and uncertainty and maximize return?" Their answers are thought-provoking, innovative, and certain to provide profitable insights for readers to use in their own investing.
Each contributor's field of knowledge--hedging risk, defeating psychological negatives, picking stocks, choosing strategies--is featured in its own concise, hands-on chapter. The result is a rare, fascinating look inside the minds and techniques of some of today's greatest financial thinkers.
Download Description
Investment Titans assembles an unprecedented panel of Nobel laureates and great financial thinkers--including Harry Markowitz, Paul Samuelson, Roger Ibbotson, and others--to ask: "How can investors make smart decisions and consistently beat the pros?" The result is a rare, fascinating look inside the minds and techniques of the greatest financial thinkers of the 20th century.
Customer Reviews:
dare not recommend it a "buy".......2002-07-20
The core concepts of the nine you know who, as summarized by the author, are: 1) diversify your portfolio 2) be cost conscious 3) start investing now and stay invested 4) keep your emotions in check 5) take an active, involved role in investment even if you got an advisor.
Not that insightful, right? You know these ideas quite well but just fail to execute them profitably, dont you? Now you may see why I dare not recommend it a "buy".
p.s. The best I can get is from Samuelson:- "You should take money seriously. In fact, you shouldnt enjoy investing. That's a trap. It makes you too active. You churn your own portfolio. You listen to stories, and most of the stories are not worth listening to."
Insightful!.......2001-04-10
Jonathan Burton relays the advice of nine top investors - Harry Markowitz, Paul Samuelson, Jeremy Siegel, John C. Bogle, Joseph Lakonishok, Richard Thaler, Gary Brinston, Peter Bernstein and William Sharpe. The author focuses on different aspects of investing - stock-market risk and reward, indexing, value versus growth investing, investor psychology, international investor strategies and risk tolerance. Burton concludes Investment Titans with observations about common themes - diversifying, investing now and staying invested. This solid book avoids repetition by focusing on different investment issues for different investors. We [...] won't give you stock tips, but we do offer book tips - this is a recommended buy for all readers interested in investment strategies.
Stand-Alone Nontechnical Summaries of Financial Theory.......2001-01-17
This book is the nonmath, condensed books version of much of the financial theory written by academics about stock investing, plus some perspectives by outstanding practitioners. If you can understand the math, you will learn a lot more by reading the original works. If you cannot, these side-by-side comparisons are not examined in enough depth to help you understand who's right and who's out of date. The book is well written though, for what it is. The book's concept is simply mistargeted from what investors need to know.
Of the thinkers who were interviewed for this book, the most useful information comes from John Bogle, Gary Brinson, Richard Thaler, Joseph Lakonishok, and Jeremy Siegel. You can read any of several books by John Bogle that are more helpful than this book, such as Bogle on Mutual Funds or Common Sense about Mutual Funds. Jeremy Siegel's Stocks for the Long Run is a classic that anyone can learn from. The Lakonishok studies suggest lots of inefficiency in the markets that Brinson talks about. Thaler's work is cutting edge in helping people understand the systematic tendency for professional and amateur investors to make mistakes.
If you ignore the Markowitz, Samuelson, Bernstein, and Sharpe material in the book, you will have missed relatively little.
Modern financial practice has moved well beyond the original academic perspectives built around the theoretical assumption of a perfectly informed and rational market composed of identically-minded investors. Those useful research-based distinctions are not made here.
If you want to understand what you should be doing as an investor, I would suggest looking elsewhere. Depending on your goals and circumstances, different paths may make sense for you. If you are between 46 and 56, I suggest that you start with Charles Schwab's new book, You're 50 -- Now What?
Of the key lessons in the book, you should pay most attention to the advice to diversify, hold as much in common stocks as your risk profile allows you to do, stay invested all the time, keep costs down (taxes, fees, and trading charges), focus on indexes of sectors that have historically outperformed (such as small cap, value stocks), start investing as soon as you can, add to your investments as much as possible, and . . . leave well enough alone (forget about chasing the latest hot stock or manager to try to beat the averages -- past performance is not an indicator of what will come next).
If you do decide to read this book, check your behavior against the principles I have just listed above. Most people violate these concepts, and have missed the chance to make more money.
May you achieve all of your financial goals!
Book Review.......2001-01-03
From Investments Titans, I have learned that the most important thing an investor should try to do is to minimize his/her risk. To minimizing his/her risk in the market is to have a diversified portfolio. The portfolio risk decreases as the number of different types of stock increases. But how many much diversification is enough? If an investor is trying to reduce the volatility of his/her portfolio as a whole, then he/she need more than one type of stock. But an investor also needs to have stocks that do not go up and down together. It makes perfect sense to own more different types of stock to reduce an individual's risk in an up and down market. A famous 1970 study by Lawrence Fisher and James Lorie showed that risk declines as stocks are added to a portfolio. But the research noticed that once the portfolio holds more that 20 stocks, adding more stocks will have a minimal effect on risk. The point here is to have a diversified portfolio but not to go overboard. In my opinion, having five to eight different types of stocks is being diversified enough. Yet, many analysts say owing between 12 to 20 is ideal for a portfolio. It makes perfect sense that investors will seek the highest return for the least amount of risk. You should take in count that diversification eliminates some risk, but not all. But one thing that this book does not mention is besides having a diversified portfolio, it is also important to focus on well-managed companies that have a strong franchise (brand name). I think it is very important that an investor does not pick stock that has poor management team. An investor should try to invest in a business that he/she understands well and companies that generate lots of cash and competitive characteristics. When he/she buys a stock at what you think appears to be an attractive discounted price, he/she will benefit from the future increase in value generated by owing all or part of a business that is well established. The one thing that I like about Jonathan Burton is that he makes the most important factor in investing very clear. He makes risk in the stock market very straightforward. It is not all about looking at data and number all the time. It is about looking at how much risk an investor is at when he/she is buying or selling a stock. Another thing that I like about this book is that it does not give only his opinion on investing but many others as well. You do not only get one opinion but you get many opinions. So you are not narrow-minded and set only one direction. Over all, the book is a great guide for new investors like me. I would recommend new investor to read this book but would not recommend investor to invest after reading the book because I have learned that you can not understand the stock market by just reading book but you also need to have experience as well.
Book Review.......2000-12-30
Investments Titans By: Jonathan Burton
The first chapter goes through the important knowledge of investing in the stock market. The most important thing an investor should try to do is to minimize his/her risk. To minimizing his/her risk in the market is to have a diversified portfolio. The portfolio risk decreases as the number of different types of stock increases. But how many much diversification is enough? If an investor is trying to reduce the volatility of his/her portfolio as a whole, then he/she need more than one type of stock. But an investor also needs to have stocks that don't go up and down together. It makes perfect sense to own more different types of stock to reduce an individual's risk in an up and down market. A famous 1970 study by Lawrence Fisher and James Lorie showed that risk declines as stocks are added to a portfolio. But the research noticed that once the portfolio holds more that 20 stocks, adding more stocks will have a minimal effect on risk. The point here is to have a diversified portfolio but not to go overboard. In my opinion, having five to eight different types of stocks is being diversified enough. Yet, many analysts say owing between 12 to 20 is ideal for a portfolio. It makes perfect sense that investors will seek the highest return for the least amount of risk. You should take in count that diversification eliminates some risk, but not all. Besides having a diversified portfolio, it is also important to focus on well-managed companies that have a strong franchise (brand name). An investor should try to invest in a business that he/she understands well and companies that generate lots of cash and competitive characteristics. When he/she buys a stock at what you think appears to be an attractive discounted price, he/she will benefit from the future increase in value generated by owing all or part of a business that is well established.
Average customer rating:
- Great for the professional but a 'must' for the novice.
- An excellent and timely analysis of precious metals.
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The New Precious Metals Market: How the Changes in Fundamentals Are Creating Extraordinary Profit Opportunities
Philip Gotthelf
Manufacturer: McGraw-Hill Companies
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Binding: Hardcover
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ASIN: 0786308400 |
Book Description
During the 1980s and 1990s, when gold rocketed above $800 an ounce and silver approached $50, many believed that these upward trends would never end. But prices plummeted, misinformed investors lost millions...and savvy investors stepped in to pick up the pieces and the profits. Philip Gotthelf , who first warned that silver could fall below $4 on NBCOs Today Show and later called for declines in gold and a change in price parity for platinum and palladium, proved an extraordinary prognosticator for investors following his advice. Now Gotthelf has a new book and, whether you are new to coins, bullion, and mining stocks, or an old hand at hard asset investing, The New Precious Metals Market is a must read. From a brief history of precious metals to detailed investment strategies, this thought-provoking book explains the need and purpose of gold, silver, platinum, and palladium as our world changes and we face new challenges. Do you know which events will affect specific metals? Just as important, do you know how and when? The New Precious Metals Market delivers the special information you need to approach markets with new enlightenment and market-tested, market-proven strategies. Through the pages of this profound book, you can share the knowledge and experience of one of the worldOs most recognized analysts. Your new fascination with precious metalsNand their profit-packed possibilitiesNstarts here.
Customer Reviews:
Great for the professional but a 'must' for the novice........1999-04-01
Wanting to diversify my portfolio I figured I needed this book. Oh, how right I was. This book gives the reader a thorough understanding of the fundamentals of precious metals which in itself would be well worth the price paid but it also provides great psychological insights into why precious metals gain and loss their luster during times of tumultuous markets. The author has an easy to understand and witty style that makes it a pleasant research vehicle. Good luck to all, Todd
An excellent and timely analysis of precious metals........1998-10-07
THE NEW PRECIOUS METALS MARKET provides the most comprehensive and up to date analysis of precious metals currently available. This is a no-nonsense and objective review of gold, silver, platinum, and palladium as investments, trading vehicles, inflation hedges, and plain old commodities. Philip Gotthelf does not provide the typical sugar coated view that "nothing is as good as gold." Instead, he details realities facing precious metals which include digital photography's impact upon silver, new gold extraction technology, technical cycles, and even stock investing.
This book avoids complexity and gets down to business. Why should you consider precious metals in your portfolio? The answer in the book is a surprise to many. Philip Gotthelf does not take the traditional line that these metals are good investments. Instead, he gives pragmatic reasons why investors should avoid accumulating hard inventories in the "new economic environment." He covers metals as monetary instruments. He touches upon scandals like Bre-X and how investors can avoid getting caught.
The book is full of charts and illustrations that are clear and easy to understand. In a time when economic uncertainty is at a peak, this book is essential for anyone considering gold, silver or the other metals as investments.
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