The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market
Average customer rating: 4.5 out of 5 stars
  • Great, easy to read book.
  • KHALID, from Kuwait
  • good book
  • Excellent Book For People Comfortable With Math
  • Book that will give you basis for your decision
The Five Rules for Successful Stock Investing: Morningstar's Guide to Building Wealth and Winning in the Market
Pat Dorsey
Manufacturer: Wiley
ProductGroup: Book
Binding: Paperback

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ASIN: 0471686174

Book Description

The Five Rules for Successful Stock Investing

"By resisting both the popular tendency to use gimmicks that oversimplify securities analysis and the academic tendency to use jargon that obfuscates common sense, Pat Dorsey has written a substantial and useful book. His methodology is sound, his examples clear, and his approach timeless."
—Christopher C. Davis Portfolio Manager and Chairman, Davis Advisors

Over the years, people from around the world have turned to Morningstar for strong, independent, and reliable advice. The Five Rules for Successful Stock Investing provides the kind of savvy financial guidance only a company like Morningstar could offer. Based on the philosophy that "investing should be fun, but not a game," this comprehensive guide will put even the most cautious investors back on the right track by helping them pick the right stocks, find great companies, and understand the driving forces behind different industries—without paying too much for their investments.

Written by Morningstar's Director of Stock Analysis, Pat Dorsey, The Five Rules for Successful Stock Investing includes unparalleled stock research and investment strategies covering a wide range of stock-related topics. Investors will profit from such tips as:

Informative and highly accessible, The Five Rules for Successful Stock Investing should be required reading for anyone looking for the right investment opportunities in today's ever-changing market.

Download Description

OVER the years, people from around the world have turned to Morningstar for strong, independent, and reliable advice. The Five Rules for Successful Stock Investing provides the kind of savvy financial guidance only a company like Morningstar could offer. Based on the philosophy that "investing should be fun, but not a game," this comprehensive guide will put even the most cautious investors back on the right track by helping them pick the right stocks, find great companies, and understand the driving forces behind different industries-without paying too much for their investments. Written by Morningstar's Director of Stock Analysis, Pat Dorsey, The Five Rules for Successful Stock Investing includes unparalleled stock research and investment strategies covering a wide range of stock-related topics. Investors will profit from such tips as: How to dig into a financial statement and find hidden gold . . . and deception How to find great companies that will create shareholder wealth How to analyze every corner of the market, from banks to health care Informative and highly accessible, The Five Rules for Successful Stock Investing should be required reading for anyone looking for the right investment opportunities in today's ever-changing market.

Customer Reviews:

5 out of 5 stars Great, easy to read book........2007-06-27

Does not get too bogged down in details and tells you what you need to know. at the same time, if you want to know the details, this book gives you a helping hand and points you to places where you can become even more knowledgable.

5 out of 5 stars KHALID, from Kuwait.......2007-05-30

I have tried a lot of investing books but never been so lucky to have one of this kind. a very neat explanation and step by step guide for novel investors. I would recommend this book for any one who would like to step his or her first steps toward right investing career. a second step is always little easier than the first one, I would like you to read and understand what Pat Dorsey is trying to explain to you and then you may expand your knowledge with more in-depth finance/investing books.

Good luck for your investing.

3 out of 5 stars good book.......2007-04-20

I bought this book because I wanted to understand every detail of fundamentals. Author did not describe all lines that are in income statement, balance sheet, and cash flow and he jumps around a little bit. I think book has useful reminders how to better read SEC filings and what to look for. Companies author mentions are in completely different place today and that gives us all reminder that things are not written in stone and changes comes quickly. Writting useful book on this topic is not an easy task, so I would recommend this book as supplemental reading. You might find here some useful information.

5 out of 5 stars Excellent Book For People Comfortable With Math.......2007-04-03

Dorsey is one of the people behind the Morningstar system for evaluating mutual funds, stocks and electronically traded funds - the system that has made Morningstar one of the most respected names in investing.

Dorsey presents the nitty-gritty of investing in this book. Most of the book is very understandable, and is the perfect book for anyone wanting to learn how to invest effectively in the stock market. There is probably no better general introduction to investing on the market.

The only difficulty is the material from chapters 3 - 6, where Dorsey explains the math and concepts behind all of the letters you see when you look at market information (like P/E Ratio, P/S Ratio, ROI, ROE, etc.). It can be a bit intimidating, but (a) you can read the book and skip these chapters with no problem, and (b) it is worth the effort to at least look at the math, since Dorsey tells you what figures are helpful, what figures are not, what figures are very important in evaluating an investment, and what figures are misleading.

Before you invest $10 in the market, spend the money on this book. Your portfolio will love you for it.

5 out of 5 stars Book that will give you basis for your decision.......2007-04-02

This is by far the best stock market book I read. I read a lot of good books, Intelligent Investor, One up on wall street. The Warren Buffett Way, The Essays of Warren Buffett, The little book that beats the market, and this is by far the most helpful ccause it guides you step by step and it really goes into details. Most of the books just narrates with generalities. I really like the part where it teaches you how to look look at the income statement, balance sheet and cash flow, how to compute the future cash flow and get its present value and how to compute the intrinsic value. After discusing the procedures, it completes it with real life example the goes tru step by step. After each chapter, theres a summary. Highly Recommended!
Truth of the Stock Tape: A Study of the Stock and Commodity Markets With Charts and Rules for Successful Trading and Investing
Average customer rating: 4.5 out of 5 stars
  • THE SECRET IN THIS BOOK CAN UNRAVEL MODERN MARKETS
  • Overkill on great ideas
  • ONE OF THE BEST BOOKS YOU CAN READ ON TRADING STOCKS
Truth of the Stock Tape: A Study of the Stock and Commodity Markets With Charts and Rules for Successful Trading and Investing
William D. Gann
Manufacturer: Lambert Gann Pub
ProductGroup: Book
Binding: Hardcover

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ASIN: 093909312X

Customer Reviews:

5 out of 5 stars THE SECRET IN THIS BOOK CAN UNRAVEL MODERN MARKETS.......2000-07-09

Even though this book was written way back in 1923, it can be of relevance to todays's markets because every rule is based on practical mathematical laws. One thing that is very important here is the sample of annual forecasts which which has been presented. From these dates for highs and lows, one can carefully study them and learn certain cycles that appear in the market even to this present time. A very valuable work indeed!

4 out of 5 stars Overkill on great ideas.......2000-03-13

If you are a researcher of Gann you will probably be intersted in this book. It has 1 rule that isn't discussed in his other books. This rule tested over S&P 500 from 1950 to 1971 gives a 2% increase in annual return. The rule he describes involves finding tops but I went through and applied the rules to finding bottoms. The only thing I don't like about it is that it goes way overboard talking about the same thing over and over and over and over to the point I'm skipping over some of the examples. This made it a very boring book to read and he could have left much out and still got his point across.

5 out of 5 stars ONE OF THE BEST BOOKS YOU CAN READ ON TRADING STOCKS.......1999-07-29

This is very easy to read yet highly informative! The amount of useful trading concepts is unbelievable for a book which was written so long ago. Despite its age it remains the single best stock market related book I have read. This book is the best book written by W.D. Gann. Jesse Livermore's book and Market Wizards are also highly recommended!
Rule the Freakin' Markets: How to Profit in Any Market, Bull or Bear
Average customer rating: 4 out of 5 stars
  • Many Happy Returns!
  • Great for beginners
  • An HONEST, objective review: THIS BOOK IS JUNK!
  • Not bad, not really good, just...okay
  • If you are Trading in the Market, you are mad not to read this.
Rule the Freakin' Markets: How to Profit in Any Market, Bull or Bear
Michael Parness
Manufacturer: St. Martin's Press
ProductGroup: Book
Binding: Hardcover

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ASIN: 0312282567

Amazon.com

Those who can ignore the rather garish cover on this book will find a solid, straightforward guide to making winning trades in even the most bearish of markets. The author, who millions of insomniacs know through his middle-of-the-night infomercials, writes with a highly personal voice that some may find a bit grating, but his rags-to-riches story is compelling and needs to be told.

In a nutshell, Michael Parness went from living on a park bench in Brooklyn to a summa cum laude degree from Hunter College in New York City to founding a successful sports memorabilia company. After making $150,000 in that business, he followed his broker's advice in 1998 and ended up losing virtually his entire nest egg. Since then, he has invested carefully after studying media reports and understanding "market psychology." Now a broker-averse multimillionaire, he shares with readers a number of strategies that have worked for him in both bull and bear markets.

Augmented with exercises that truly help readers determine their own level of risk aversion, this guide shows online traders and, particularly, investment clubs exactly how market psychology drives daily and cyclical market moves. As Parness says, "I'm not mechanical, and I'm not good at figuring out technical stuff like computers or plumbing or chain saws, but I can figure out how things measure up in terms of probability. And probability is what trading is all about."

A few too many ka-chingos and wowsas mar an otherwise informed writing style, but nevertheless the book offers some excellent insight into how the market actually works, and how one can make money using that insight. Those looking for a serious study of economic trends and forecasts may want to look elsewhere, but readers interested in a breezy, anecdotal read about market bubbles and bursts will be entertained and more than likely enlightened. --Charles Decker

Book Description

In 1998, Michael Parness was a struggling playwright and screenwriter who was leaving the stability of his successful sports memorabilia business to write full-time. Following the advice of a stockbroker, he invested his nest egg of $150,000. But the October 1998 crash gutted his portfolio by 80% and his stocks failed to recover. With virtually no income and no financial cushion, he found himself in a tiny low-rent apartment with time to think about what had happened, and, eventually, enact financial revenge. In January 1999, he opened an online brokerage account and set out to get his money back. And in fifteen months, Michael Parness turned $33,000 into seven million dollars, started the online trading website www.trendfund.com where thousands of traders Rule the Freakin' Markets with him, and had his life story optioned by a major Hollywood producer!In Rule the Freakin' Markets, Michael Parness uses visual aids combined with practice exercises to show online traders and investors how to: *Practice responsible trading techniques that maximize reward and limit risk *Avoid the "7 deadly sins plus fear" that block success in the market *Protect investments no matter what the market does *Understand how market psychology drives daily and cyclical market moves *Avoid the pitfalls of trading in cyberspace *Recover and learn from significant losses *Strategize and anticipate, rather than overreact or freeze when change occurs *And finally, live full and satisfying lives as tradersWith its lively tone and refreshing approach to trading and investing, Rule the Freakin' Markets is an essential guide for online traders and investors alike.AUTHORBIO: Michael Parness has been featured in The Wall Street Journal, Forbes, Money Magazine, and the New York Post, been interviewed on Bloomberg Radio, and makes regular appearances on CNNfn's The New Show, Fox News Bulls and Bears, and other television shows. He lives in New York City.

Customer Reviews:

5 out of 5 stars Many Happy Returns!.......2007-08-03

Trading is War.

And War, to defer to General William Tecumseh Sherman, is Hell. So it follows, then, that Trading is Hell.

But Hell doesn't have to be unprofitable, or at least that's the gist of Michael Parness's juicy little battle manual for money-making trading "Rule the Freaking Markets!".

Parness managed to parlay roughly 30 grand into 7 million in just a little over 15 months, using the techniques he sets forth in this little book. No, this isn't a painstaking tactical recreation, trade by trade and move by move---if you're looking for that, look elsewhere.

Instead, Parness has written a kind of Trading 101, a hands-on, no-nonsense, meat and potatoes primer that will give novices everything they really need to know before they move into the close combat of trading, and give vets a fresh perspective. There are a few simple, but crucial themes in "Rule the Freakin' Markets", points you need to know to survive and thrive in the market, and Parness drives them home.

Some of them are so simple, basic, and useful enough that they are typically ignored---but just thinking back to this book saved me thousands of dollars, making this a tasty read that more than pays for itself in a few trades.

Now, "Rule the Freakin' Markets" is not rocket science. Far from it. It's not about esoteric hedging and option speculation strategies. You'll find no abstruse charting diagrams mapping out regions of support and resistance and an entire vast nebula of trading constellations: no winged double dip upper boundary flanges or inverted-middle-finger reverses here, folks.

What you will find is a man who has harnessed the stock market to achieve his wildest dreams, and who has put together a no-nonsense, highly engaging, very practical little battlefield manual in helping you do the same. Michael Parness, a guy who by his own admission was once living on the street in New York City, His point is brutally simple: if he did it, you can too. That is, if you take its beguilingly simple message to heart.

Let's back up a step.

As the Roman Emperor Augustus was fond of saying, 'Sancta Simplicitas', Latin for "Keep it Simple, Stupid". I'm always asked for advice on stockpicking, and when I offer my standard rejoinder: "buy low, sell high", people get offended. They assume I'm insulting them. "What? *Everybody* knows that"!", they say.

But to judge from what you see and hear in the market, everybody doesn't. Quite the contrary. People act on impulse, move on 'tips', plunging in to buy a hot tech stop at the top of its range, cringing as it plummets, wiping out thousands of those impulse greenbacks---then acting out of fear and selling everything, just before the market turns back up.

Sound familiar?

If it does, spend a quality hour or two with Parness: the sections on shorting stocks and placing stops can be both lifesavers and money-makers, and they're worth the price of admission alone.

Good Hunting.

JSG

3 out of 5 stars Great for beginners.......2007-05-28

I believe this would be a great book for beginners. Parness has written an entertaining book that covers a lot of the basics on emotional control and money management in trading stocks for a quick profit. He explains the seven deadly sins of trading stocks that we must not commit:
GREED, PRIDE, LUST, ENVY, GLUTTONY, SLOTH, and WRATH, plus FEAR. These are absolutely behaviors that will cause you to lose money in the markets. He advises of 5 ways NOT to find stock picks:
Stock tips are for losers.
Do not listen to idle chat from the hopeful and naive.
Watch out for manipulation from pump and dumpers.
Paid stock promoters. Analysts, etc.
Do not trade OTC/BB stocks

The book was short on any kind of method to find stocks, and how to trade them. It just lays out the basics.

Nice little book to get started with for beginners, but move on to read Alexander Elder's and William O' Neal's books they will take you the rest of the way.

1 out of 5 stars An HONEST, objective review: THIS BOOK IS JUNK!.......2007-04-01

I bought this book for the wrong reasons: I saw so much controversy between the reviews that I was tempted to take a peek myself; and honestly, it was selling for only $2.00! I figured, how bad could it be? Even if there is one small nugget in this book, one insight that could help me with a SINGLE trade, the $2.00 would be worth it. Well, here is the low-down:

1. If you are someone who barely knows the difference between stocks and bonds, then maybe (just maybe) you could learn something. If you are a 65-year old retired homemaker and are curious what this "darned stock stuff" is all about, this book is for you. In sum, folks, this is TRADING 1.0001A. And guess what? In a few short years you could actually graduate to TRADING 101 !!!!!

2. If you are a serious stock or options trader (like myself), there is NOTHING of any VALUE in this book at all! There is not a ***SINGLE*** stock setup mentioned that would help you with ANY trade.

3. Sure, there are a lot of words in this book. Lot of irrelevant junk. For example, here is a sample of subsections in Chapter 13 (read and weep!)

Section 13.3 Live a physically healthy life
Section 13.4 Live a spiritually healthy life
Section 13.5 Eat well

Wow! Can you believe this? At this rate, in his next book, maybe Parness will include a chapter on changing diapers!!!

DO YOURSELF A FAVOR. PLEASE ***DON'T*** BUY THIS BOOK !!!!!

3 out of 5 stars Not bad, not really good, just...okay.......2007-01-13

This is an unbiased review coming from someone who has no axe to grind against the author and who has never used his service. I read a lot of investing books and usually avoid works with titles such as this one for the simple fact that I seek advice with more substance than books such as these generally offer. I did pick this book up, however, and found it to be...well, mediocre. There's some decent advice here, albeit advice that anyone even remotely interested in trading should already know. The most fundamental basics are covered--basic money management, overcoming fear and greed, etc.--and there are a few perceptive insights offered through the course of the book, but for the most part this is one of many trading books that will give you just enough information to go out and get yourself killed trading.

That's not to say this is a bad book. I would classify this as the most simple and basic type of trading book out there--one you could read before reading any other book but not base your education upon. It's obvious from reading that Parness made his fortune during a time that is much different from now--during the dot com boom and subsequent crash. Things moved a lost faster then--things were different. As such the book is somewhat outdated. To Parness's credit, however, this book is much more than a shameless self-promotion of his website and services.

If you're interested in getting into trading you could do much worse than this book. You could also do much better. If you do decide to pick this one up, do it with the realization that you'll need to educate yourself much more before jumping headlong into the financial market.

5 out of 5 stars If you are Trading in the Market, you are mad not to read this........2006-11-07

I have been reading financial and investment literature for the past two years now. This should be compulsory reading for traders, for three main reasons:
1. It contains no technical jargon and any technical terms used are defined fully.
2. The language and style are easy and accessible to all readers, not just the financially well versed, which makes it the best book for beginners.
3. Michael is a funny guy and makes you laugh as though you were reading a comedy. In case you were not aware, fun and excitement are the best learning emotional states.

By the way, I don't see how I or anyone else can actually lose in the market if we follow "The Rules". That's not to say, you will not have losing trades, but you will learn enough money management and trading savvy to ensure that overall you are a winner!

Bulelwa Freer (Ms)
Sydney - Australia.
New Stock Trend Detector: A Review of the 1929-1932 Panic and the 1932-1935 Bull Market : With New Rules and Charts for Detecting Trend of Stocks
Average customer rating: 5 out of 5 stars
  • You must have this book!
  • THIS BOOK EXPLAINS GANNS RULES VERY WELL
New Stock Trend Detector: A Review of the 1929-1932 Panic and the 1932-1935 Bull Market : With New Rules and Charts for Detecting Trend of Stocks
W. D. Gann
Manufacturer: Lambert Gann Pub
ProductGroup: Book
Binding: Hardcover

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ASIN: 0939093162

Customer Reviews:

5 out of 5 stars You must have this book!.......2003-10-26

In my opinion, this is probably the most important book written
by W.D. Gann. I usually listen many comments from other Gann
student who consider '45 years in Wall Street' as the best book
of this author, but this is better. I think that if you read many times 'New stock trend detector' you will find hidden some very important trading techniques that will help you to keep a good track record in your future operations. Naturally, the work for 'decode' this techniques among the examples made by Gann,is hard but if you 'love' the stock market and you need a real help in your trading, this is the book for you.

5 out of 5 stars THIS BOOK EXPLAINS GANNS RULES VERY WELL.......1998-07-24

AN EXCELLENT BOOK.A MUST FOR ANY TRADER AND ANYBODY INETRESTED IN UNDERSTANDING GANNS METHODS & TECHNIQUES FOR FORECASTING STOCK PRICES
Trading Rule That Can Make You Rich: Precision Bid Commodity Trading
Average customer rating: 2.5 out of 5 stars
  • Mischievingly over[priced
  • Very basic
  • A Practical Manual
Trading Rule That Can Make You Rich: Precision Bid Commodity Trading
Edward D. Dobson
Manufacturer: Traders Press
ProductGroup: Book
Binding: Hardcover

Public FinancePublic Finance | Economics | Business & Investing | Subjects | Books
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ASIN: 0934380031

Book Description

Discusses a simple, but effective system for timing market entry. Based on a technique used by the legendary W. D. Gann, who said of this method, "You can make a fortune by following this one rule alone!" Incorporates a technical trading rule, which utilizes a consistently competitive pattern of market behavior. Applies to all markets and to all time periods, whether short term (intraday), intermediate, or long term. Many traders have contacted us months after reading this book and told us it was one of the most useful books on trading they had ever read.

Customer Reviews:

2 out of 5 stars Mischievingly over[priced.......2007-09-18

The quality of book both in content and presentation is low. The writer introduces his recommended technique and then explains some of his experiences and some historical view but without even trying to reason why it happens what happens or to generalize it - what the reader learns is just an opinion that could be heard anywhere from anyone without any sensible support for it. The presentation is also very low quality. It is more like the book is a photocopy of a hand script or something. Bottom line, doesn't worth a penny.

3 out of 5 stars Very basic .......2006-10-26

The whole book talk about just one rule, But the rule is very very important to trading and works in all markets. Sad thing is i could of found out the rule just by doing a lil searching online.

3 out of 5 stars A Practical Manual.......2003-07-15

Mr. Dobson's book gives practical advice on how to enter commodity or stock market positions using one of the simplest and perhaps most reliable tactics: buying or selling 50 percent retracements of major moves. If you believe that the simplest solutions are often the most effective, this book will delight you. It gives a step-by-step system for using the retracement rule to make profitable trades. If your are sometimes overwhelmed by myriad technical market indicators, implementing this simple approach can help cut through the fog of conflicting technical data.
Stock Market Rules
Average customer rating: 3 out of 5 stars
  • Helpful
  • I couldn't get into this book
  • Just OK - shallow content and poor editing
  • Superb Stock Trading How-To
  • So Now You Know Why...
Stock Market Rules
Michael Sheimo
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Paperback

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ASIN: 0071445870

Book Description

Unwritten rules of Wall Street--what works, what doesn't, and how investors can tell the difference

Investing is governed by unofficial rules, passed to investors through brokers, the financial press, and even fellow investors. For more than a decade, in two previous editions, Stock Market Rules has helped investors separate the most valuable of these maxims from the meaningless and even potentially harmful. But with recent market turbulence and scandals blindsiding millions of investors, the time has come for a new, updated edition.

Stock Market Rules, Third Edition, is that book, an in-depth, up-to-date examination of the 50 axioms that will most help investors gain the edge in today's technologically supercharged markets. Investors needing authoritative, hands-on guidance will look to this updated edition for its:

Download Description

Unwritten rules of Wall Street--what works, what doesnt, and how investors can tell the difference

Investing is governed by unofficial rules, passed to investors through brokers, the financial press, and even fellow investors. For more than a decade, in two previous editions, Stock Market Rules has helped investors separate the most valuable of these maxims from the meaningless and even potentially harmful. But with recent market turbulence and scandals blindsiding millions of investors, the time has come for a new, updated edition.

Stock Market Rules, Third Edition, is that book, an in-depth, up-to-date examination of the 50 axioms that will most help investors gain the edge in today's technologically supercharged markets. Investors needing authoritative, hands-on guidance will look to this updated edition for its: