Book Description
THE NATIONAL BESTSELLING BOOK THAT EVERY INVESTOR SHOULD OWN
Peter Lynch is America's number-one money manager. His mantra: Average investors can become experts in their own field and can pick winning stocks as effectively as Wall Street professionals by doing just a little research.
Now, in a new introduction written specifically for this edition of One Up on Wall Street, Lynch gives his take on the incredible rise of Internet stocks, as well as a list of twenty winning companies of high-tech '90s. That many of these winners are low-tech supports his thesis that amateur investors can continue to reap exceptional rewards from mundane, easy-to-understand companies they encounter in their daily lives.
Investment opportunities abound for the layperson, Lynch says. By simply observing business developments and taking notice of your immediate world -- from the mall to the workplace -- you can discover potentially successful companies before professional analysts do. This jump on the experts is what produces "tenbaggers," the stocks that appreciate tenfold or more and turn an average stock portfolio into a star performer.
The former star manager of Fidelity's multibillion-dollar Magellan Fund, Lynch reveals how he achieved his spectacular record. Writing with John Rothchild, Lynch offers easy-to-follow directions for sorting out the long shots from the no shots by reviewing a company's financial statements and by identifying which numbers really count. He explains how to stalk tenbaggers and lays out the guidelines for investing in cyclical, turnaround, and fast-growing companies.
Lynch promises that if you ignore the ups and downs of the market and the endless speculation about interest rates, in the long term (anywhere from five to fifteen years) your portfolio will reward you. This advice has proved to be timeless and has made One Up on Wall Street a number-one bestseller. And now this classic is as valuable in the new millennium as ever.
Customer Reviews:
The most famous book from the legendary investor .......2007-10-16
This was the book that catapuled individual investing. He teaches you how to beat the market just by keeping your eyes and ears open.
Unfortunately, most investors don't follow his rules.
A reread for those who have questions about their returns.
This book is the Bible for investing!
Teaching From a Master.......2007-10-12
(This is a review of the full-sized edition, not the ill-advised miniature that has garnered so much negative comment.)
Why listen to Peter Lynch? He's one of the greatest stock market investors of all time. From 1977 to 1990, Lynch managed the Magellan mutual fund for Fidelity Investments. The fund's assets increased more than 2,700%.
Is that a lot? It's like Barry Bonds hitting 200 home runs in a season. It's a staggering achievement, unlikely to ever be duplicated.
There is a small industry of financial advice out there from people with no documented success. Lucky for us, Lynch decided to share his methods.
One Up on Wall Street puts stock picking skill into the minds of everyday people. The book is written in a breezy, accessible style that non-financial types will appreciate. Lynch also gives a glimpse at his life at Fidelity during his tenure running Magellan.
Stock picking is an art. Lynch delves into the intuitive side of investing. It's not all about financial statements and balance sheets, although he gives you a quick rundown of those too (Chapter 13: Some Famous Numbers). The book has more ideas per page than any of the several stock market books that I have read.
Information overload can paralyze the mind of a stockpicker. If you're not a data type of person, stock research can make your head explode. Lynch spells out a way to find good investments without suffering brain damage.
To use a food analogy, he doesn't give you a recipe, he teaches you how to cook.
Must Read for any new Investor.......2007-08-08
I've been looking for more information on how to invest into this stock market. This book was EXACTLY what I was looking for. Not only did it help me figure out what kinds of companies to keep my eye out for, it also gave me ways and formulas to check out to verify if the stock was a good buy or not. I highly recommend this book!
THE SMALLEST BOOK EVER.......2007-07-31
This is a MINIATURE book. Literally. 3 inces x 3 inches, "95 pages" with 30 or 40 big words on each page. Ridiculous. I can't believe such a thing was manufactured.
Good start for investing basics.......2007-07-15
Excellent primer for how to consider investments from a qualitative perspective, rather than the number crunching quantitive perspective put forth by so many other writers. Peter Lynch demonstrates how amateur investors can have an edge on Wall Street professionals through our day-to-day interactions with businesses.
Book Description
We've all heard the reports—the great housing boom that has fueled premium prices and sellers' dreams is slowing down. The real estate market may experience ups and downs like any other, but it's not likely to implode spontaneously. With proper planning and a little knowledge, homeowners, investors, and other stakeholders can avoid disaster and in fact profit on their properties regardless of what the market does. Beyond the Bubble takes a balanced look at what drives changes in real estate markets and how these changes affect property owners and investors. Readers will learn:
* the history, nature, and dynamics of market `bubbles'
* how to anticipate a coming downturn and act accordingly
* the regional nature of real estate market conditions
* differences and similarities in residential and commercial markets
* other profit strategies when selling is difficult or impossible
* how to analyze the market using facts, not hype
Thorough and well-reasoned, Beyond the Bubble will help property owners maintain a strong and level foundation for their financial futures.
Customer Reviews:
Learn How to Handle Real Estate Bubbles.......2007-08-14
The authors examine the components of real estate bubbles and provide useful guidance in detecting changing conditions to determine when a bubble is present. The book provides readers with a roadmap to become aware of the key factors affecting real estate prices and learn how to predict real estate price increases and decreases.
According to the authors, there is neither a single real estate market in the United States, nor a single bubble due to regional differences. Certain markets will remain hot because of the location, climate, jobs, etc., while other cities may experience declines due to excess speculation and price increases (for example, Florida and California).
The five phases of a bubble and the history of bubbles are described so that readers can understand what to look for. The four signs to recognize that a real estate market is about to change are fleshed out. They include: activity of development and inventory available, speculation increasing near the top, market statistics turn negative, and lending statistics become ominous. The authors also describe bubbles by property type (residential, retail and commercial). Moreover, the ten key factors to consider when making an objective decision about a real estate purchase that you are interested in is covered in detail.
Other topics covered in the book are how to use real estate in your investment portfolio, using options on real estate, how to profit in rising or falling real estate markets, and limited partnerships, REITS, ETF and REITs
Anyone considering buying a house, especially in an inflated market should read this book before making a move. Knowledge is power, especially in real estate negotiations.
Great Book.......2007-06-27
Great Book. very informative. Puts things in plain language and easy to understand.
Only wish I had read it sooner.
If you're an investor, get it, read it and highlight parts of it.
Book Description
"There are fifteen major breakthroughs in technical analysis! SEVEN of these breakthroughs are new, never-before-revealed material!" - George Lane, Stochastics Originator. As professional traders approach the 21st century, accelerating technological change threatens to make conventional technical studies and indicators ineffective. To compete in this changing environment, these professionals need radical new uses and combinations of indicators and formulas to keep their competitive edge. Not a primer for the novice, TECHNICAL ANALYSIS FOR THE TRADING PROFESSIONAL resets the scales, arming today's professional trader with new, unique, and never-before-seen formulas and uses of key market indicators and techniques.
Customer Reviews:
Hard But Worthwhile.......2007-06-18
This is a hard book to read but I think it's from a stream of consciousness that's "in the zone." It's one of probably only a handful of books ever written that can give you a unique insight into the mind of the market. Most people won't get it and never will. Thanks for sharing Connie.
Not Worth it.......2006-09-11
I am an experienced trader and an avid reader of trading books. This book has nothing new to offer since the author doesn't reveal any of her secrets unless you are willing to go to her website and pay $800 to get access to some of her indicators. She spends pages and pages to expalin very simple concepts. Total waiste of money and time.
Excellent Book - But you must be literate and have an IQ over 100.......2006-05-22
Ms. Brown's book on technical analysis is superb. It has increased my profits already after just reading it two weeks ago.
If you are serious about making money in the stock market, you will have to ignore some of the stupid reviews of this book... the ones written by the same type of illiterates who write profane messages on the stock message boards and have trouble stringing a sentence together.
This book is aimed at people who can read. And who are ready to actually work at making money on the market.
The mindless masses who want a quick fix or a "magic pill" are never going to understand this book. But it's a GEM. Highly recommended.
DO NOT READ THIS BOOK!! (if you're looking for an ineffective, shoddy, cookie cutter "system" for the masses) .......2005-10-11
This book was recommended to me by two traders in their top 10 trading books list. Knowing how successful they both are (with a combined trading experience of 65 years and immense wealth built for both of them in that time), I put a lot of faith in their recommendations.
But when I went to this site to purchase the book, I almost didn't buy it because of some of the bad reviews. It isn't until after having read the book that I understand WHY the book was recommmended so highly by successful traders but somehow got poor reviews from traders who seem to still be searching for answers. The reason is very simple...
The reviewers who didn't like this book are looking for the "easy way". They want the "Quick Fix Holy Grail". They want their profits spoon-fed. What they fail to realize is that if any author gives them what they are looking for they are doing them a great disservice.
Brown starts the book off with the implied purpose of taking a trader to the next level--beyond the level of what she refers to as the "Stochastics Default Club". Her purpose is to create a trader who is not only ahead of the "group think" of the masses but also ahead of the automated trading styles that have developed from shallow understanding of basics (and rote execution of out-dated techniques).
As the inside flap of the book states, "Global Professional traders, frustrated by inexplicable indicator failures and capital erosion, must set themselves apart by challenging many beliefs widely accepted as gospel in today's trading world."
Brown obviously went into this book knowing a few things:
1. The mass disemmination of any rote trading system will only invalidate that system's effectiveness.
2. The precise tools she uses would be deadly if revealed to any "Holy Grail" seeker looking for a simple fixed logic tree system.
3. Successful traders become successful only because of their own hard work and diligence.
Knowing these things, I imagine she decided the best way for her to contribute to the field of technical analysis would be to teach people how professionals think with technical analysis (NOT how the at-home speculator thinks with his coffee spilled on his shirt waiting for his incorrectly timed stochastics to cross back over 20 for a buy signal).
She succeeds in her purposes--but only to the degree of the reader's willingness.
A good portion of this book is dedicated to HOW to start viewing technical analysis the way a pro does (from dissecting and perfecting indicators to developing your own trading system). Also, in Chapter 10 she brings everything together and shows how it's done--in "real-time" journal style.
Yes, she does show you some very precise techniques that you can incorporate in your own trading. No, she doesn't give her Composite Index formula or Gann conversions (and I'm happy she doesn't because doing so would be a disservice not only to herself and her own hard work but also to any "one-track mind" trader who got his hands on them).
After reading this book, I agree with the two traders, their trading records and their bank accounts--this book is one of the top-ten trading books available.
But remember: Do NOT read this book if all you are looking for is an ineffective, shoddy, cookie cutter "system" for the masses.
Some Good Ideas But Mostly Gobbleygook.......2005-04-01
TAFTP has its moments, but I dont think this book was the godsend others make it out to be.
An example of a good point is the author's notion of optimizing the cycle length to find the best %D to use for a particular security. That's a good read. The next chapter suggests drawing oodles of trendlines on a chart and looking for intersections. If you draw enough lines on a chart you are bound to find one that supports what you believe. I just ddnt buy her premise at all.
Some concepts that can be described quickly are laboriously drawn out. 5 pages dedicated to the dangers of looking at small charts where data can be compressed is 5 pages too much.
Other commentators have talked about "sophistication" and "complexity" as virtues of the book. I disagree. Complex doesnt mean better. Simplicity breeds success remember. This book gets wordy and its ideas are sometimes hard to understand. That doesnt make it a better book nor does it make its ideas more credible.
The CMT has put this on their required reading list but I wouldnt give that too much weight. They have been criticized that their syllabus isnt quantitative enough so they needed to incorporate something like this. Besides, half the book isnt tested for CMT.
Lastly, like far too many technical analysis books, there is a lot of, "this makes total sense looking backwards," about this book. Had you bought in 1994 at this signal (which became obvious in 1998) you would have made a lot of money!
Rather than shlep through TAFTP, there are better books out there. Trading Sytems and Methods by Kaufman comes to mind.
Book Description
Developed by Ralph Nelson Elliott in the 1930s and '40s, the Elliott Wave Principle is a powerful analytical tool for forecasting stock market behavior. The basic concept behind the Wave Principle is that stock market prices rise and fall in discernible patterns and that those patterns can be linked together into waves.
In the years since it was first published, this classic guide to the Elliott Wave Principle has acquired a cult status among technical analysts, worldwide. And with each new edition, the authors have refined and enhanced the principle, while retaining all the predictions from past editions.
The 20th Anniversay Edition includes a special foreword and enhanced text. It's the final revision of a classic.
"Elliott Wave Principle is simply the best description and validation of a concept which by all rights should be revolutionizing the scientific study of history and sociology." -JWG, New York
"Elliott Wave Principle is such an important, fascinating, even mind-bending work, we are convinced that is should be read by any and every serious student of the market, be they fundamentalist or technician, dealing in stocks, bonds or commodities." -Market Decision$
"Even allowing for minor stumbles, that 1978 prediction must go down as the most remarkable stock market prediction of all time." -James W. Cowan, Monitor Money Review
"Elliott Wave Principle is the greatest work of any kind, anywhere. It has helped me abandon speculative stock tips and stockbroker newsletter recommendations for my own predictions based on the simple wave theory." -J.V.
"I have just received my copy of Elliott Wave Principle and find it to be unquestionably the best book and explanation regarding the works of Elliott that I've ever seen." -J.B.B.
"I have recently read and reread Elliott Wave Principle. I was impressed with the research and especially thrilled with the excitement of coming into contact with a truly original concept." -M.F.
Customer Reviews:
Book I was Looking For.......2007-10-11
This is kind of book I was looking for to enhance my basic knowledge about Elliott Wave Theory. First Two chapters of the Book explains in simple language about the basics of Elliott Wave priciple and How to count and identify the wave and trading opportunities. Second Chapter imparts you about application aspect of Elliott Wave priciple such as, Ratio analysis,Longterm Wave formation principle and different approaches to wave principle.
Finnaly the Apendix LONGTERM FORECAST UPDATE,1982-1983 summarises the entire principle and provide you an insight.
Prechter & elliott wave international .......2007-04-26
Prechters view is markets peaked in wave 5 in year 2000.
Never called the bottom in 2002, and stated the
high of year 2000 would not be surpassed.
Well 7 years later the DOW has indeed surpassed the year 2000 high!
High of 2000 was ~12000, today it is ~13000 !!!
Listening to his advice would cost one dearly.
Not only missing out on the recent market rise, but also constantly
pushing one to take a bearish stance against the market during the
entire rise over the past 5 years, while the market was rising!
Amazing.......2007-01-23
That's amazing book to a small investors. It will show to you the behavior of stock market. But you must read it at least twice in order to get everything you need to know.
The landmark book that sparked my love for financial markets as a child.......2006-12-18
No matter what you think about Elliott Wave, Technical Analysis or Robert Prechter, this book is a classic in its field and the definitive introduction to Elliott Wave.
For me, this was - the - book that deepened my love of financial markets as a child, it's influence on me was profound in many ways. I still remember buying it after having saved up $50 to purchase it as an expensive import in the early 1980s when I was in my early teens. I carefully read each page as if it was gold thinking the secrets of the universe were slowly being explained to me... and this was before Prechter gained legendary status in 1987. I met Prechter in 1990 at a speech he was giving in Australia and was struck at his love for markets and for Elliott Wave. It impacted me powerfully at the time that in between speeches he was calling his office to get market updates. He's dedicated his entire life to Elliott Wave with passion and love and I really admire that.
I've learned a lot since those days, including the danger of relying on any forecasting method as being the holly grail. Elliott Wave is not something I've traded with in many years and I believe it would be very challenging to do so profitably without substantial work and going much beyond the information contained in this volume. Personally, I think the theory has a lot of validity, and blends well with Fibonacci, it's just that getting it to work is challenging. I also am not all that keen on some of his more modern day extensions like the double and triple threes that kind of get labeled x-y-z-a-b-c-d-e-f-g-h etc. it's just going to far IMHO. I also the power now of mindsets, I spent most of the 1990s thinking we were certain for another great depression and while that could eventually happen, it was a mindset that held me in place of contraction and fear for one of the greatest periods of growth in my history... a major lesson for me around beliefs and the need not to get caught up in theories. I still think though that Elliott Wave offers profound and valuable insights into human and market behavior.
It's no secret Prechter's basic forecast has been wrong for something approaching fibonacci 21 years... there's no doubt though that he thinks differently, very differently and also truly in a contrary fashion as is evidenced in much of his written forecasts in the EWT publication over the years and other books. He's a sharp thinker and much of that can be seen in this volume. And, to his credit, he's not been afraid to put his forecasts in writing or to stand behind them.
The book consists of a comprehensive introduction to the theory Elliott Wave, true to the work of R.N. Elliott himself. Most of the other books or published work on Elliott will have been based on this work, so it's important to start here with your study of Elliott. The first part consists of the basic tenets, associated rules and guidelines with many diagrams and charts to illustrate the concept, a discussion of the historical and mathematical background including a comprehensive discussion of Fibonacci numbers. The second part of the book involves the practical application. The authors being brave enough to keep the work from older editions of the book with forecasts and guidelines intact. There's a little discussion of cycles and other theories including Dow Theory and the Kondratieff Wave. The Elliott Wave theory is applied to stocks and gold with detailed forecasts and descriptions and in my book, the forecast for the 1990s with great detail and discussion as to the reasons for the forecast.
If you like this book, you may also find useful some of the work by Bryce Gillmore (from Australia) in his two hard to find (and more recent) volumes.
This was, and I think still deserves recognition as being a ground breaking book in technical analysis.
Best wishes for your trading and thank you to Robert Prechter and A. J Frost for a such a wonderful piece of work.
No delivery.......2006-11-03
I have not received my order yet although you said I could expect the delivery in early September.
Book Description
An intriguing history of the futures market and speculation
From Jay Gould's attempt to corner the gold market in the 1860s to the Hunt brothers' scandalous efforts to control the silver market in the 1980s, Wheels of Fortune traces the rich, colorful history of the futures market on its quest for respectability and profit. This comprehensive account shows readers why the markets have been grabbing headlines for over 100 years as both respectable economic institutions and hotbeds of gambling activity and scandal. Charles Geisst brings the personalities and strategies behind the futures market and speculation in general to life, against a backdrop of American life that begins prior to the Civil War.
Customer Reviews:
Whale of a Good Story.......2003-02-11
Several members of my family are futures traders and this book captures the business perfectly. Also a good history, beginning before the Civil War and working its way toward the downfall of Long Term Capital Management. The author does a good job of mixing history, the markets and some great anecdotes together so you never get bored reading it. Valuable piece of history and worth the price.
Thorough and Entertaining.......2002-10-31
This book is a history of the futures and derivatives markets from the 1850s to the present. It painstakingly traces the history of the markets as they developed in Chicago and later in New York. What I liked was that the author mixed a good amount of the institutional history with stories about trading scandals to keep the reader interested and entertained. The markets showed that they were always two-faced -- dealing with the public and also for themselves. They got more mature after futures and options were introduced in the 1970's but were still seeing scandal until the late 1990s when the narrative ends. The book also discusses the battle between the markets and the government along the way and it is an interesting part of the story. Makes you wonder whether Enron would have happened if there had been stronger regulators in place. A highly recommended book since it is the first history that I know of that covers this material. Seems a vital part of American history that has been overlooked until now.
Average customer rating:
- Maybe I'm Just Too Stupid to Understand This Book
- Info pertinent today and tomorrow.
- Don't Wait for the Noise
- Must Read
- Contrarian Bells Are Ringing
|
At the Crest of the Tidal Wave: A Forecast for the Great Bear Market
Robert R. Prechter Jr.
Manufacturer: New Library Classics
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Binding: Hardcover
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ASIN: 0932750397 |
Book Description
Just like Elliot Wave Principle, its super-bullish predecessor from 1978, this updated and abridged paperback version of At the Crest of the Tidal Wave presents a scenario that appears too dramatic and specific to be more than unfounded conjecture. However, the author's forecasting toll is again the only one that has proved its value in addressing future market probabilities. The result is social science at its best.
If even half of the author's forecasts come to pass, the world of finance just a few years hence will be immeasurably different from what it is today. Using the same precise approach that he employed a month after the 1982 low at Dow 777 to forecast a great bull market that would carry the Dow Industrial Average to near 4000, Robert Prechter now calls for slow motion economic earthquake that will register 11 on the financial Richter scale. The Great Assert Mania of recent years is in its final euphoric months, he says, and the next event will be a collapse of historic proportion.
If you are already well versed in the Wave Principle and prepared for the change that is coming, then ignore this book. If you are not, then devour it cover from cover. Be prepared for a shift in the tectonic plates that make up your mind's notions about financial causality. Above all, get ready for a violent shaking of your faith in conventional economic wisdom.
Customer Reviews:
Maybe I'm Just Too Stupid to Understand This Book.......2006-02-09
If you go to the list showing all of my reviews, you will see that I have read quite a few books about the stock market and trading in general. While I have encountered information that talked in generalities about the Elliott Wave Principle, I had never delved into it in much detail as I never felt the methodology was consistent. Having trudged my way through this book, I have come to the conclusion that either (1) I am too stupid to be able to understand and trade based on the EWP (an admittedly distinct possibility), or (2) I have never read so much after-the-fact 'curve fitting' in my life. If you are a student and believer in the Elliott Wave Principle, this will be like adding a second Bible to your collection. If, however, you don't already know and understand the EWP, and unless you are a genius, plan on spending years trying to understand the theory before you will be able to implement it into your trading system. Sorry, Mr. Prechter, but I just don't get it.
Info pertinent today and tomorrow........2005-03-31
I bought this book used about three years ago. Although I was skeptical of it's contents, since the title seemed dated, I picked it up because it was cheap. It was one of the best buys I've made.
Although I did not read the entire book, the portions I did read (chapters 9-12 about investor psychology) were timeless and made the book well worth the buy. Those chapters are highly recommended reading for contrarians. I'll quote among my favorite lines: "They show that people view stocks as being less risky than treasury bills. Indeed, article after article refers to the "risk of missing gains" as being more important than the risk of loss. This is an optimism so extreme that it has not been seen in the West for nearly three centuries." (p154); "The public is always trading oriented in the early stages of a bull market, and "investment" oriented at the top. - One-Way Pockets 1917 (189); "No top-heavy market with public involvement fails in the end to punish the average investor for his gullibility." (190); "All investment is speculation, and there is no more risky speculation than one that is confidently viewed by a majority of portfolio managers and the public as an investment." (414).
I gave four stars because Prechter's timing of the coming crisis was way off and his predictions sounded extreme, for example: chapter 21, page 431, "... secessionist movement will take place in many countries, including the US ...one or both current political parties will dissapear ...unemployment will reach 30%."
Overall I highly recommend this book. Tidal Wave is easy to read and follow.
Don't Wait for the Noise.......2001-12-23
There was a movie which showed an approaching tidal wave. There was no noise because the wave was travelling faster than the speed of sound. This is the case of the oncoming financial tidal wave of disaster. One can hear the bullish rantings of a stream of advisors, nudging us into a sleeping wonderment of good things to come. The tidal wave is on its way. Prechter has pointed out the various items unfolding before our eyes. He was early in many of the prognostications, but they are surely falling into place. If you read the book, you will surely see how they are unfolding. Your financial health is at stake. The tech wreck was only the beginning. Read on, there is still time, but the book will be out of date in a couple of years.
Must Read.......2001-10-28
This book is a must read for financial survival. Prechter has an engaging writing style. His opinions are often outrageous and sometimes too extreme. This value of this book is in that it is so different from the conventional financial press.
Almost alone Prechter predicted the great bull market back in 1979. He then called the top prematurely but at least he did warn this readers that a top was coming. The scope of Prechter's vision is awesome. He has charts with trendlines going back to 1700 with projections for the next century.
Chapter 11 "Manifestations of Investor Psychology" is very powerful.
Contrarian Bells Are Ringing.......2001-09-14
Having read this book, as well as Ravi Batra's "Crash of the Millenium" and James Dale Davidson's "The Sovereign Individual", I can't help but point out that these are the same people that were telling us to expect a U.S.economic/financial market collapse throughout the '90s(see: "Blood in the Streets" and "The Great Reckoning" by Davidson/Rees-Mogg, "The Great Depression of 1990" by Batra, and Prechter's newsletters/special reports from that period). Obviously, they turned out to be just a tad off the mark. After a peruse of this material, have a look at one of Harry Dent's books for a look at the baby boom spending wave that continues through the latter half of this decade (Dent points out on his website that the current economic dip we are in is similar to the one that took place between 1920-1922, before the Roaring 20's market took off). The only way that the kind of boom the Spending Wave projects can ever take place would be if the majority are looking in the wrong direction. Material such as this book from Prechter, as well as Batra and Davidson, will do very nicely.
Book Description
How did an investment advisory firm in obscure Elkhart, Indiana, find the antidote to remain rational in the highly contagious speculative pandemic of the late 1990s? At that time the crowd of true believers, in what was to become the Great Bubble, was swelling exponentially to number in the millions as irrational exuberance reached full flower. From the ill-equipped wage earners on the factory floor deluded by slick pitches evoking images of 401(k) financial independence to the institutional investors, the fate was often the same-except for the parasites who were knowingly complicit. When the Great Bubble inevitably imploded, few were spared the financial fallout. Speculative Contagion is an insider's riveting real-time and real-money account of the inflating Bubble, accented with the genuine suspense to be found only in real-life drama. The epidemic of tech-driven lunacy gradually affected more and more feverish investors all too prone to be infected by the insidious absurdity of the times. In the midst of it all, Frank Martin found sanctuary in the treasure trove of history. As he reflected on the unremitting succession of other departures from reality in the past, along with the madness of crowds, he was able to grasp shreds of sanity, at least partially muting the Sirens' call of speculative contagion. Spared the emotional devastation and accompanying paralysis that shocking losses inevitably and cruelly visit upon the unprepared, Martin commanded the capital and the conviction to be able to step up to the plate and lay wood to the fat pitches that at last came floating his firm's way. While the path to investment success is arduous at best and assured for no one, the eye-strained yet battle-hardened reader-from student to amateur or seasoned investor to rattled professional-is forearmed by this book to face the future with a short list of foundational antidotes. Rationality is their common thread. We can thus combat the ill effects of whatever may yet come at us from the perilously unorthodox and persistently unrepentant current episode, as well as those that lie in wait beyond the horizon. With both colorful anecdotes and timely antidotes coming as thick and fast as baseballs to a hitter in batting practice, the reader is in for a delightful and eye-opening romp through an extraordinary era in U.S. financial history.
Customer Reviews:
Dispatches from the front line of investing.......2007-03-23
Every so often someone will ask me which I consider the best investments books. This is not an easy question to answer, firstly there is an enormous amount written on finance every year (much of it pure junk, of course), and secondly if you miss off someone's personal favorite they take it as a personal affront. So it was with some trepidation that I put together my ideal investors reading list. In my "modern" category (to qualify to be in this section the book must have been written within the last ten years, but have the potential to become a classic given time), I included Frank Martin's Speculative Contagion, which is a book that represents an investor's real time experience of dealing with the market. Several books could have fitted the bill; Cunningham's edited version of Buffet's letters was a front runner (The Essays of Warren Buffett), as was Chancellor's edited version of Marathon Asset Managements' views (Capital Account). However, in the end I settled on Frank Martin's Speculative Contagion. This book pulls together the annual reports that Martin had written to his clients throughout the bubble and burst years. It is source of much investment insight. I recently used Martin's trinity of risks as a basis of a better way of thinking about the nature of risk from an investment perspective. Martin's book provides us with opportunity to see exactly how bad it feels to be on the wrong side of a bubble, but also delivers insights into the discipline needed to stick to sensible investment process though thick and thin.
Product Description
The present book contains much more materials than the author's previous book The Science of Financial Market Trading. Spectrum analysis is again emphasized for the characterization of technical indicators employed by traders and investors. New indicators are created. Mathematical analysis is applied to evaluate the trading methodologies practiced by traders to execute a trade transaction. In addition, probability theory is employed to appraise the utility of money management techniques. The book: identifies the faultiness of some of the indicators used by traders and accentuates the potential of wavelets as a trading tool; describes the scientific evidences that the market is non-random, and that the non-randomness can vary with respect to time; demonstrates the validity of the claim by some traders that, with good money management techniques, the market is still profitable even if it were random; and analyzes why a popular trading tactic has a good probability of success and how it can be improved.
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A Trading Desk View of Market Quality (Zicklin School of Business Financial Markets Series)
Manufacturer: Springer
ProductGroup: Book
Binding: Hardcover
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ASIN: 1402075103 |
Book Description
This book is based on the proceedings of a one-day conference on Market Quality, held at the Zicklin School of Business on April 30, 2002. Some of the questions addressed in this book are: How should market quality be defined, measured, monitored and improved? What is the evidence about the current state of our markets? How effective have recent innovations been? How can we better meet our investor needs?
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