Amazon.com
In 24 Essential Lessons for Investment Success, the founder of Investor's Business Daily and author of How to Make Money in Stocks, William O'Neil, distills his 40 years of experience, study, and analysis of the market into a series of lessons about how to buy and sell stocks. O'Neil is neither a pure fundamentalist nor a technician--instead, he advocates blending both approaches, applying fundamental analysis to identifying the best companies and technical analysis to understanding the price actions of those stocks. The lessons cover everything from protecting your investment account (always cut your losses at 8 percent of the purchase price) and basic chart reading (identifying market tops and bottoms) to understanding relative price strength and tips on building a concentrated portfolio. While not absolutely necessary, it helps to have a copy of Investor's Business Daily handy: these lessons were drawn from a series that O'Neil wrote, which frequently mention features unique to that newspaper. 24 Essential Lessons for Investment Success is a easy-to-read, commonsense guide to stock picking that both novices and seasoned investors should find extremely useful. --Harry C. Edwards
Book Description
The Wall Street Journal, New York Times, BusinessWeek, and USA Today Business Bestseller!
From the publisher of Investor's Business Daily and best-selling author of How to Make Money in Stocks, comes the National Bestseller, 24 Essential Lessons for Investment Success, two dozen of the most important lessons for investors. In this one accessible guide, William J. O'Neil puts his popular and easy-to-follow techniques for building a profitable portfolio firmaly in the hands of investorsand the goal of long-term financial security easily within their reach.
24 Essential Lessons for Investment Success is based upon the closely followed "26 Weeks to Investment Success" editorials that appear in Investor's Business Daily. Edited and updated, O'Neil's timeless advice encapsulates such investing nuggets as buy high and sell higher to making a million in mutual funds. Concentrate your investments in a few areas, know them well, and watch them carefully.
Don't just rely upon PE ratios and other common technical tools. Learn to use Relative Price Strength to help you choose stocks. O'Neil's cautionary yet pro-active advice has helped to make Investor's Business Daily one of America's fastest growing and most respected newspapers. Now investor's can benefit from his timeless words of wisdom, collected in one easy-to-use resource.
Customer Reviews:
Excellent Lessons.......2007-05-14
The author of this book increased his account 20 fold in 26 months and then bought a seat on the New York stock exchange. He studied the top performing stocks from 1953 to present to create his CAN-SLIM method, which has been proven in many independant studies to be one of the best. After his individual success as an investor he founded O' Neal & Co. and uses his companies stock data base to advise top investing firms. This is a credible author who all traders should listen to.
Here are some of the top lessons in this book:
#3 Follow a system rather than emotions.(This takes experience and time)
#6 Relative price strength: A key technical tool (Buy stocks in up-trends close to 52 week highs, these are the stocks with buyers)
#18 Don't try to be a Jack of all trades (Focus on one investment vehicle, be an expert)
#20 Sell Rules (Reset stops on stocks showing a profit so you do not give back all of your profit on a down trend)
Buy this book for 20 more essential lessons. This book will help beginners tremendously and also can be very beneficial for experienced traders and investors to revisit to keep on the right track.
This is a great little book that belongs in every investors/traders library.
Easy Money in 2000.......2007-03-26
Anyone who had read Investors Business Daily will not gain too much from this book since it's mainly a novice walkthru of the daily publication. O'Neil's major concepts are higher highs in enormous volume, double bottom, flat base, and cup with a handle. Even looking at some charts he has in the book in hindsight appear misleading. I think IBD is an excellent resource, but here are my criticisms of this book. It was written during the tech boom. Anyone could have plopped money down and doubled it in a month. Too many times O'Neil brags about making 200% on a stock. He tells how one should never be afraid to jump into a stock with a PE over 100. In 2000 they were prominent, today, extreme rarity. Gee I wonder why. A cup and handle to you may be different to me and besides, by time you really realize it's a cup and handle or double bottom, you're already late to the party. Though I'm not too crazy about his steps for buying a stock, he does a thorough job explaining how he goes about establishing a position. Take this book for what its worth, there's plenty to learn but most of it was only applicable in the late 90's.
Great Advertisement - poor book.......2007-03-22
This book covers a lot of the fundamental basics that other books contain, but the recurring theme throughout is, "If you really want to learn how the market works you should subscribe to my newsletter".
I don't know if the Investor's Business Daily is any good, but certainly the credibility of the author is damaged in my eyes... IBD should have paid me to read this extended advertisement, rather than the other way around.
Great Book For Beginners - In Simple Terms.......2007-02-16
This book is good for beginners that don't know how to invest. They put things in simple terms vs the How To Make Money In Stocks book (although they both have the same information pretty much). I seem to be getting more from this + their website (www.investors.com) than any other resources. William J O'Neil is a GREAT writer and I hope that he keeps updating his books, because I would sure buy them. His books and his website are my BIBLE to invest, although I haven't invested yet as I am still studying charts for further evaluation to make sure that I buy the right stock or stocks that I want to buy.
Good advice, stop trying to sell stuff!.......2006-08-12
The book wasn't the easiest to read, but it gave good ideas for investors to keep in mind when selecting stocks and great tips for when to buy and sell. However the book was overwhelmed with constant advertising for Investors Business Daily. A good third of the book talked about the features of Investors Business Daily and how they could be used with the book. There was a some great info in this book, but the constant references to the magazine were annoying.
Amazon.com
If anyone told you that investing in the stock market was the safest investment you could make, you might raise an eyebrow. However, if Jeremy Siegel tells you this, prepare to be convinced. Siegel's book, Stocks for the Long Run, is a comprehensive and highly readable history of the stock market that dramatically makes the case for long-term investing in stocks.
In summing up his approach to investing, Siegel writes, "Poor investment strategy, whether it is for lack of diversification, pursuing hot stocks, or attempting to time the market, often stems from the investor's belief that it is necessary to beat the market to do well in the market. Nothing is further from the truth. The principle of this book is that through time the after-inflation returns on a well-diversified portfolio of common stocks have not only exceeded that of fixed income assets but have actually done so with less risk. Which stocks you own is secondary to whether you own stocks, especially if you maintain a balanced portfolio."
Stocks for the Long Run considers subjects as diverse as the history of the various market indices and what makes for a business cycle to contrarian indicators and the utility of 200-day moving averages. If you've just come into investing in the last few years and feel the need for a solid and comprehensive text about the market, Stocks for the Long Run is probably the best primer available. It also works as an excellent reference for seasoned investors and anyone else interested in how the market works. --Harry C. Edwards
Book Description
"One of the ten best investing books of all time."--The Washington Post
One of investing's most celebrated icons updates his classic work to reflect today's world and markets
In this long-awaited and eagerly anticipated update, Jeremy iegel provides his legendary perspective and guidance to an investment world turned upside down. Stocks for the Long Run combines a compelling and timely portrait of today's turbulent stock market with the strategies, tools, and techniques investors need to maintain their focus and achieve meaningful stock returns over time.
This completely updated edition includes entirely new data, charts, and figures as it provides answers on the five major issues concerning investors and professionals today:
- How will events related to September 11 tragedy affect long-term market returns?
- What behavioral roadblocks stand in the way of achieving financial success?
- Are "countries" still relevant for global investing?
- Will stock "indexing" match its past performance?
- Can tomorrow's stock market deliver the same returns as markets in the past?
Praise for previous editions of Stocks for the Long Run:
"Should command a central place on the desk of any 'amateur' investor or beginning professional."--Barron's
"A simply great book."--Forbes
Download Description
Jeremy Siegel's bestselling book has proven that stocks are the best investment over the long term. Now, this classic guide has been revised to include today's most successful investment strategies.
Customer Reviews:
an investing classic.......2007-02-16
I agree with the other reviewers that this book is an outstanding essay for those who want to learn how to select stocks for a value portfolio. Where we differ is that for the typical investor he does not have the resources to build a properly diversified portfolio- either financial or mental resources. Value stocks do provide returns in excess of broad market returns but in order to have adequate diversification you must assemble several hundred issues well beyond the resources of the average investor. Further one must have the time and skill to evaluate several thousand issues.
I can offer a solution to this problem. I want to recommend for you a book titled How to Make Money in the Stock Market-Buy 2,500 different stocks for $1000 - Pay no Commission This book is a must for those wanting to find out about indexing (passive investing) and why it is the superior method for the small investor (and big one too). This book is an outstanding guide to personal investing. It will be useful to all investors from novices to highly the highly experienced. This book prepares the reader to approach investing from the standpoint of the underlying science. It is the antithesis of a 'get rich quick scheme'.
All aspects of Modern Portfolio Theory and passive (index) investing are explained in a through and easily understood manner. The aspect I like most is that as well as a solid theoretical foundation the book is very practical and shows the reader how to create (and more importantly) and manage over time a successful portfolio. This is a great book- for the beginning investor, it's a great place to start and for the experienced investor there are many valuable suggestions.
It's a shame to think of how much money investors have lost "investing" in the stock market over the years. I wish I had read this little book years ago. The chapter on automatic investing recommends a number of portfolios that follow modern portfolio theory and adjust risk as you age without any effort on the part of the reader at all. Had this book been written years ago and had I followed its directions I would be rich today of that I am certain. Nevertheless I will pursue one of the portfolios recommended and stick to my chosen asset plan.
How to Make Money in the Stock Market-Buy 2,500 Different Stocks-Pay no Commission
Jeremy Siegel hit a home run with this book.......2006-10-15
This book clearly illustrates the need to be disciplined as an investor. Unfortunately, as many Americans do not exercise this discipline they will never achieve the potential returns that can be had in the market. This book should be mandatory for all students to read and study probably at the high school level.
Fantastic Analysis.......2006-09-29
Stocks for the Long Run: The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies Jeremy J. Siegel
Stocks for the Long Run makes the most convincing case for long-term stock market investing. Part history book and part finance book, it is brilliant. I want to give this book to my clients who want to put all or most of their money in CDs, bonds and other debt instruments. Siegel uses historical records to prove that well allocated, diversified stock investments truly are the best way to steadily accumulate wealth over time. His historical narrative also turns what could be just another hard-to-read investment book into a compelling story -- there really is a great deal of drama in the retelling.
If you read this book you will be armed with information to make educated choices about how to invest your hard earned money. Weathering the stock markets ups and downs can be a profound challenge to the uninformed investor. This book provides a perspective that allays some fears and offers cautions as well. Stocks for the Long Run will help you make good investment decisions, and give you confidence in the decisions you make.
James Lange, CPA/Attorney and author of Retire Secure! Pay Taxes Later: The Key to Making Your Money Last as Long as You Do
Buying this book is your first great investment!.......2006-07-18
When you are done with this book, DO NOT LOAN IT TO ANYBODY. I lost my first copy when an intern did not return it. I lost the next copy when a friend gave it to his mom.
Reading this book will give you a better understanding of the financial markets than 99% of the people around you. If you do not understand any part of the book, skip it and go back later. For a first book, there is none better.
If you are already knowledgeable, it is still a great read.
-Enjoy
Lots of useful information.......2006-06-20
This is a helpful book for novice investors and those more experienced. The main point he makes is that in the long run, stocks are the safest investment, the best hedge against inflation, better than bonds or money market accounts. This book is very valuable for Siegel's detailed historical research into the long term returns of stocks, and the causes of the big crashes and bull markets. Siegel explains well why interest rates are such an important indicator of market trends. This book is mainly useful for devising an overall strategy to market investing rather than help picking specific stocks. Siegel suggests that a buy and hold strategy is best. Highly recommended.
Book Description
The time has never been better for investing in real estate, and this book arms the millions of investors who are returning to real estate as an established instrument of wealth creation with surefire strategies for making a killing in the real estate market.
Due to the pent-up demand for housing caused by the lull in housing starts during the 90s, as many as 11 million would-be American home-owners are currently vying for a rapidly dwindling pool of available properties. In Buy, Rent, and Sell Bob Irwin, one of America’s most well-known and respected real estate author/experts, provides nuts-and-bolts advice and guidance on how to find good investment properties, how to successfully rent them, and how to quickly turn them around for a profit. Written in Irwin’s trademark down-to-earth, jargon-free style, Buy, Rent, and Sell is an indispensable guide for novices as well as experienced real estate investors.
Download Description
This book arms the millions of investors who are returning to real estate as an established instrument of wealth creation with surefire strategies for making a killing in the real estate market.
Customer Reviews:
Save Your Money.......2004-09-06
Save your money. This is about a lightweight book as you can buy on real estate. A synopsis is, buy a house, fix it up, rent it for a while then sell it. Whoopee. Supposedly this is for beginners, but there isn't enough here to educate a beginner on how to progress. If you have never purchased a house, even the one you presently live in, it may educate you somewhat, but there are better books for investors, even beginners.
This book rocks!.......2004-07-19
For a novice, this book is absolutely incredible....
It is informative and SO EASY to understand. Empowering and practical! Everything about the basics.
Great intro and overview.......2003-12-01
I have purchased a couple of my own investment homes and my father-in-law also has owned several rental units for a number of years, and I found this book helpful. He covers many of the basic things you need to consider and also covers financial implications such as taxes.
He covered things like expenses during rehabilitation that would be easy not to detail, so scores points for that. He also takes the time to explain depreciation and the resulting capital gains in enough detail that you won't be surprised when you talk to your accountant.
He also provides good data on one of the most important aspects of residential investing: screening tenants. Lots of good ideas are presented here to help minimize the risk with poor tenants who can ruin your investment.
Additionally, he hits all the usual bases for finding investment properties and covers some of the negotiation strategies for purchasing these properties. He's clearly done this a time or two and works to give you a good intro. He does leave you feeling like there's more to it that he should be telling you, but I suppose it's difficult to get all his years of experience purchasing properties into one or two chapters.
If you're looking into residential real estate investing, read this book. But also read others so you have a well-rounded perspective and gain more details that aren't shared here.
Good intro to buying homes, but. . ........2003-01-18
Overall, I thought that this book was very helpful and contained good information for someone considering investing in real estate. The author appears to have had success with landlording and knows his real estate market well.
One (understandable) problem with the book is that Mr. Irwin is writing based on his personal experience in what sounds like the southwest in a booming real estate market. One point that he makes several times is to pay for water bills, so the tenants won't be tempted to save money by not watering the yard, thus causing serious landscaping damage. This is really not applicable in the north or where there is significant rainfall.
An underlying belief of Irwin's is that it is difficult to find properties whose income can cover all their expenses, and that the real money comes in selling for a profit. Accordingly, much of the book concentrates on flipping properties and other real estate maneuvers that are usually only successful/necessary in tight markets. In general the book advocates a high risk philosophy of investing, advising the reader to use the bank's money make money as much as possible. I thought the inherent risks of this way of doing things were not fully explained in the book.
Additionally, he advises to stay away from old houses which he classifies as older than 25 years. I laughed as I read that, as virtually all of the houses in the town I bought my house in are between 60-120 years old. 25 year old houses are considered spring chickens where I'm from!
The last weakness of the book is that it seems to overestimate ease of determining the "true" value of a house. It takes a LOT of looking at houses and checking final sale prices to say with much certainty what a property is worth.
This review may sound relatively harsh, but for the amount of time it took me to read this book I found it helpful. I would wholeheartedly recommend the book for a beginner in a rental market similar to the author's market. However, for someone in a region similar to mine (the depressed real estate market of Troy, NY) you may want to check for some other similar books. And for all I would advise to stay away from the higher priced "Make your fortune in real estate" packages advertised on TV and such. Real estate information is most efficiently conveyed in paperback books like this one - in straightforward text without motivational speaking or overly unrealistic portrayals of the real estate world.
Good advice. Quick reading........2002-07-23
This book doesn't waste time. The format is short chapters with concrete nuggets of advice.
Customer Reviews:
Financial Professional: A MUST HAVE.......2006-08-26
As a seasoned financial professional, I thought I was well-versed in the pros and cons of variable annuities. But this book is an absolute eye opener. After reading it, I not only boosted my VA sales, I also transferred many of my own investments into the variable annuity vehicle. If you plan to sell or criticize a variable annuity, read this first. 5 stars from a usually very stingy rater!
Book Description
VALUABLE ADVICE FOR INVESTORS OF ALL TYPES FROM STANDARD & POOR'S, TODAY'S MOST TRUSTED RESOURCE FOR RELIABLE INVESTMENT INFORMATION
Standard & Poor's Press brings the impressive knowledge and resources of Standard & Poor's to some of today's most challenging financial issues. Covering subjects from saving for college to technical analysis to risk management, books in the series will give both independent and institutional investors the knowledge they need to dramatically improve their overall financial decisions.
Sensible, straightforward Standard & Poor's secrets for achieving worry-free investing success
Successful investing doesn't have to be a pressure-packed chore. The Standard & Poor's Guide to Profitable Long-Term Investing provides investors with commonsense rules and guidelines to take the pain out of investing and replace it with certainty and confidence. It unveils a simple approach, one that demystifies and simplifies the path to profitable investing without relying on buzzwords and confusing mathematics.
From knowing the best times to buy and sell to saving for education or retirement, this easy-to-follow book uses Standard & Poor's data, tables, charts, and graphs to illustrate and explain exactly how anyone can construct a sensible, low-maintenance portfolio.
Covering topics that books of its type often overlook, it discusses:
- Why stockbrokers and financial advisers can be hazardous to an investor's financial health
- Seven simple steps to follow to help ensure profitable investing
- How and when to buy a stock and--even more important--when to take profits
Customer Reviews:
Tigue Hits All The Right Notes.......2007-05-22
I picked up this book after reading another book by Mr. Tigue on dividend investing. Like the first book I read by Tigue, this book is simple, straightforward, and very well written. However, I have to admit that at some points it was slow going, but then much of the information is not new to me, so I believe that may explain it.
Tigue borrows a marketing ploy from the infamous Stephen Covey, and uses it to pass on some general, but very powerful ideas on long term investing. The first chapter talks about the various investment vehicles available to save and invest, either tax-deferred or tax-free. This chapter is probably the most important one of the book (apart from the chapter on keeping costs down), because it discusses the critical concept behind any successful long-term investing strategy: paying oneself first. Anyone that works for a living should get into the habit of setting aside a fixed percentage of their net (after-tax) income, and put it to work building capital.
The second chapter talks about diversification, and is probably a very good idea for the small investor. However, I felt this chapter was a bit under-done, because most small investors are of limited means, and to achieve adequate diversification, one would need a sizable bankroll (about fifty grand, minimum I would say). So, I believe most folks would be better off by automatically investing a fixed percentage of their net, after-tax income in a good, no-load, low cost stock mutual fund. Most index mutual funds allow you to participate with automatic contributions of a hundred bucks, and thus would be a good way to achieve diversification- if, of course, diversification is important to you.
The third chapter talks about holding stocks for the long term, and points out that over long periods of time, stocks have low volatility. 'Tis the short term that causes ulcers.
The fourth chapter talks about doing those things you know and understand, avoiding the sophisticated and exotic, and most important, evaluating the business and not the stock. I felt Tigue could have said more on this, but this is a book for the beginner, so I will not mark him down for it.
The fifth and sixth chapters talk about when to buy in, and having done a fair of investing over the years, I feel that these chapters are potentially misleading. Serious investors buy businesses, and not stocks.
The seventh chapter talks about keeping costs down, and is probably the most important chapter for the seasoned small investor, but second in importance to the novice. Costs do matter because all the players know what you know, and most of you achieve the same results as most everyone else. By netting as much as the return as possible, you can very easily propel yourself far above average. However, I think for the novice the concept of paying oneself first, CONSISTENTLY, is the most important lesson to take away from the book.
Chapter eight talks about knowing when to sell, and is good background for the novice and the seasoned small investor.
Chapter nine talks about making investment decisions, and I have to commend Mr. Tigue for his inclusion of various sources information- websites, periodicals and books, in most chapters so that readers can glean further information. The chapter contains good information overall, and would be most helpful in developing a healthy skepticism among beginning investors.
Chapter ten talks about the various types of bonds one can buy. I found it quite peculiar, and very disturbing, that Mr. Tigue spent no time talking about inflation in this chapter.
Chapter eleven basically talks about the joys of compounding- if you have time on your side. I think he basically got it right, so I won't argue with him there.
So, in sum, this book is geared toward the beginner or novice investor. Seasoned investors would do very well to pay close attention to the chapters on cost containment and investment selection, but can otherwise comfortably skip the rest. If I were to run a short course on long-term investment for the beginner, this is the book that I would use as a teaching tool.
The Standard & Poor's Guide to Long-term Investing........2007-02-07
If you want to understand long term investing, this book is the key to grasping the fundamentals.
Great Book for beginninger!.......2005-10-03
Very useful if you are a beginninger in investing and know nothing about it. Explain in very simple term but at the same time, give quite a detail. I enjoy it. Of course, this book is not mean to make you rich in 24 hrs but does provide some tips on how we should manage our personal investment.
Merely states the obvious........2004-04-27
This book is the most basic "investing book" I have ever read. Essentially, Tigue's guide states you should start investing now invest every month and but good divedends paying stock. Well that's great advice. Why didn't I think about that? (note sarcasm) The problem is that he doesn't really give you a lot of information on how to pick these stocks. The reader who apparently isn't smart enough to know he shouldn't waste money on lottery tickets (one of Tingues suggestions to save money) is somehow suppose to find great stocks that increasingly increase their dividends. He gives some suggestions, but most of these seem to be advancing Standard and Poor's research and other agendas.
Tingue does, however, have one good chapter. In it he explains the necessity of keeping down your costs. Once again this is obvious but he gives a pretty lucent description of fees associated with mutual funds and Direct Stock purchase plans. In the end, you should probably takes Tingues on advice and utilize the library rather than spend money on another investment book you don't need
Great Investment Book.......2004-01-08
This book explains, in simple terms, how to be a successful investor based on proven techniques. It covers almost all aspects of investments (stocks, bonds, funds, and more)
A great book. I changed my investment strategy because of this book. I am also going to keep in mind a lot of the tips that were covered in the book. Good job, Tigue.
Book Description
This tax guide to the many subtleties of capital gain and capital loss tax rules offers expert commentary to investors trying to avoid federal pitfalls when filing. Discussing the vital issues associated with investor tax, this resource covers the importance of matching broker and payer reportings, managing and reporting employee stock options, and claiming the 15 percent tax rate on qualified dividends. Particular attention is paid to the details necessary for completing such documents as Form 1099-B and Form 1065 (also known as Schedule K-1).
Book Description
Find out how you can use the short-term strategies of the professional day trader to improve your long-term returns. It doesn't matter whether you are a short-term trader or a long-term investor. By using the most profitable tactics of the top day traders, you really can boost your long-term returns.
Author and long-term investor Michael Sincere prefers to buy high-quality stocks, mutual funds, and index funds. Professional day trader Deron Wagner believes in short-term trading tactics. The Long-Term Day Trader is a synthesis of both strategies.
You'll learn:
* How long-term investors can profit from the secrets of day traders.
* How to find the trading system that fits your personality and meets your goals.
* How to be a winning long-term day trader.
* Why day traders lose money and how long-term day traders can avoid the pitfalls.
Customer Reviews:
Outdated and full of useless catch phrases.......2004-04-08
The worst trading book I ever purchased. The book is full of catch phrases and waffles page after page. Example: more than 100 pages of advice such as:
Don't trade scared (1 full page)
Be patient (1 full page)
Trade like a robot, wothout emotion (1 full page)
Always have a profit goal (1 full page)
etcetera
The book does not show any examples of successfully backtested strategies. Better go for "Trade like a Hedge Fund" from J Altucher.
A Sound, Friendly Read.......2004-04-05
This the type of book that benefits one early in one's trading process and merits re-reads after more experience. While there is very little from the technical point of view, the practical, "real world" advise rings very clear. People often buy books that are too complicated for their current level of understanding. Accordingly, they acquire more "knowledge" but not more understanding. Confusion can lead to a lot of lost money in trading. Thankfully, this is not such a book. It deserves a permanent place on the traders and investor's bookshelf.
Good Introduction Book........2002-12-15
This book is mainly for beginners, and offers a good introduction into investing.
BELOW BEGINER LEVEL.......2001-04-12
THIS BOOK WAS NOT USEFULL TO ME. IF YOU DON'T ALREADY KNOW THE BEGINERS INFORMATION IN THIS BOOK, YOU HAVE A LONG WAY TO GO.
Good introduction to day trading.......2000-09-20
If you are unfamiliar with day trading, then this book provides a solid conceptual overview for you. If you already know the basics and are looking for something with more specifics and greater mathematical vigor, then this isn't the book for you.
The book is well-written and easy to read. The continual focus on using computers and the Internet got to be tiresome, but this is primarily due to my background in both subjects. Others should find his coverage of these topics worthwhile.
Overall, a nice intro book that leaves a craving for more detailed information. Hence, this is not a book I would carry around as a reference or a guide.
Book Description
Methods to blend short-term techniques and profits into a longer-term trading program
Despite reports of its demise, short-term tradingor swing tradingcontinues to be practiced by millions of investors. Short-Term Trading, Long-Term Profits explains how to learn the ropesand lay the necessary foundationto become a successful short-term trader. Sidestepping the costly trial-and-error learning process that has forced many traders to leave the arena prematurely, before they truly understood the rules, this timely book provides specific, practical guidelines and strategies for integrating short-term trading into an overall portfolio and financial plan.
Short-Term Trading, Long-Term Profits acts as a solid bridge between the volatile world of day trading and the more traditional world of the long-term, buy-and-hold investor. Providing every tool the short-term trader needsfrom specific strategies for momentum trading and short selling to fundamentals of economic and market environmentit is the first book to effectively, honestly shorten the time frame for learning to be an effective short-term trader.
Customer Reviews:
No insight and nothing useful.......2006-07-28
I believe this is the least insightful book on trading I've ever read. Not only does it offer nothing of real value, it offers very little that's even original. The vast bulk of this book is essentially a summary of what others have taught (lots of Bill O'Neill stuff, etc), and even THAT carries no insight. This book is, in fact, a very, very superficial look at trading, and really only contains information you would find in just about any basic trading book. Such topics as P/E, fundamental analysis, technical analysis, and money management are touched upon, but only enough to give a shallow definition of each, at which point the book moves on.
Whenever I see a book I look for something practical that I can apply. I was unable to find anything here. This book seems thrown together by someone who knows very little about the subject. Even when something is supposedly going to be explained, such as NASDAQ level II quoting, the book simply posts a few charts and neglects to explain anything about what they mean.
Be aware, if you're still interested in this book, that every example (without exception) was taken from the tech bubble period in 2000. The information, what little of it there is, is outdated and essentially useless. The few techniques in the book are rigid and make very little sense in today's market. An example: Leitzman says you shouldn't trade stocks over $100 because they're too volatile. In 2000, when the tech high-fliers were over $100, that was true. Now, it's not.
Simply put, this book seems to be a reckless attempt to cash in on the popularity (a few years ago) of trading books. It oversimplifies trading and attempts to define it by rigid rules which don't hold. It's worth avoiding.
this BOOK IS CRAP ******DO NOT BUY*******.......2005-11-15
this book is a total waste of your money. THIS BOOK IS A 1000 TIMES WORSE THAN A "INVESTING FOR DUMMIES BOOK"
SAVE YOUR MONEY FOR A REAL BOOK. BECAUSE THIS GARBAGE
Glad I found it by chance at local bookstore.......2002-08-18
Thanks Mr. Leizman. Great book. Read so many books. I'll rate this on top of my all time best list. This book is going to be near my desk all the time. My best list include, Fred Kelly's books, Edwin, Humphery, and Douglas.
Amazon.com
Has the stock market bottomed? Will the Dow and NASDAQ do better this year? While media outlets such as CNBC and CNNfn love to fill their airtime with these kinds of questions, James Glassman has a hard time finding the upside to such pursuits. He suggests that investors would do better by turning off their TVs and looking for real value instead, and in the The Secret Code of the Superior Investor he shows how. Glassman organizes his advice into 47 bite-size chapters that cover everything from the types of companies you should invest in ("solid citizens," pharmaceuticals, for-profit education) to what you as an investor should pay attention to (cash flow) and ignore (the latest Fed gossip, CNBC). At the heart of Glassman's "secret code" is the belief that stocks are the best long-term bet there is; the trick is finding solid companies to invest in and then sticking with those companies through thick and thin. This book is for anyone (especially those getting over the recent technology boom and bust) who is looking for a reliable and balanced approach to managing a portfolio of stocks and bonds. Highly recommended. --Harry C. Edwards
Book Description
What should your investment strategy be now that the steady, upward trend of the U.S. stock market seems like history? The years ahead promise to be volatile, full of ups and downs, so is this the time for investors to hunker down and scale back?
Not at all, is Jim Glassman’s advice. Sure, there were some people who bailed out of the market early and came out ahead, but that was luck—the kind of luck that wins the lottery once in a blue moon: it’s not a strategy. And if there is one clear lesson to be learned from all of the recent market drama, it’s that you need a point
of view and a coherent investment strategy. And that’s just what Glassman provides in The Secret Code of the Superior Investor.
If you believe that the long-term outlook for the American economy is positive (as Glassman and most experts do), then the best strategy is the tried-and-true approach that has worked well for more than a hundred years: acquiring a diversified portfolio of stocks in great companies and then holding on to them forever.
Jim Glassman’s investing principles provide the ballast to help you keep your investing balance no matter how the markets bubble or bobble. His rigorous, practical, straightforward way of thinking and taking action enables you to build a portfolio that performs well no matter what the economic climate. Here is invaluable advice on what stocks and mutual funds to buy—and when to sell them. (Hint: Almost never.)
Download Description
In these uncertain times, learn how to crack the code and become a superior investor. Don't worry about the market, the economy, or the Fed. Instead, concentrate on what's important: how to construct your own bulletproof portfolio by finding the best individual stocks and mutual funds for you. This timely book is your guide to volatile markets.
We live in a world saturated with the short-term: Who's up, who's down? Which stocks rose yesterday, which fell? Did corporate profits rise (or drop) last quarter... what's going to happen this quarter? Is Alan Greenspan raising (or lowering) interest rates... what's the impact?
The superior investor knows that none of this matters. He or she understands that investing is simple, but not in the way most people think. With Jim Glassman as your guide, everything about investing becomes clear. You'll know what to do, how to behave, and how to profit—whatever the market, the economy, and your stocks are doing.
Superior investors crack the code of investing and practice a coherent philosophy that gives them the strength and confidence to do the right thing no matter which way the economic and financial winds blow. They're relaxed—calm, cool, and collected—because the secret code provides the foundation for making superior investments, the kind that generate wealth to fund more interesting pursuits, provide for their children's education, and fund retirement.
Superior investors:
- Are not outsmarters—people who try to beat the system through inside advice and superior brainpower—but partakers. They know that the best way to make money is to share in the profits of successful businesses.
- Own a portfolio that looks like the U.S. economy ten years from now.
- Know the kind of investments they should be making (e.g., pharmaceuticals, for-profit education, mind-numbingly boring but extraordinarily profitable companies) and those they should not (e.g., corporate bonds).
- Understand when to start selling the stocks they've bought: almost never... only when the fundamental reasons why they bought in the first place change.
- Understand how to pick the companies that will make them superior investors.
- See that bear markets are for buying.
We live in a world of increasing uncertainty, but by practicing the principles of The Secret Code of the Superior Investor day-in and day-out for years on end, your future will indeed be superior.
"In lively and lucid prose, this book does an excellent job of explaining the key do's and don'ts of investing: focus on company fundamentals, not market gyrations; construct a diversified portfolio rather than a random set of securities; and hold for the long term, instead of day trading."
ROBERT POZEN, VICE CHAIRMAN, FIDELITY INVESTMENTS
"Jim Glassman's accessible and practical book is intended to make you a superior investor. The kind of investor who knows that the path to wealth lies in selecting great businesses and holding their shares for many years. The kind of investor able to ignore both media noise and the hullabaloo surrounding economic irrelevancies."
ARTHUR LEVITT, FORMER CHAIRMAN, SECURITIES & EXCHANGE COMMISSION
Customer Reviews:
Good balanced info.......2007-08-27
This book is a kind of Dad to Son speech about gaining perspective regarding money and how to stay in control of your money. It had some enlighten points about how we should be thinking about cash, inflation and time. It also presented a good overview of the various financial market avenues (stocks vs. bonds vs. cash). It's a good quick read.
Invest like the Masters.......2005-12-16
Glassman's, first law of Phillip Fisher financial investing is "become a partner in a good business, for a long time": get information about the companies your are buying and ignore price trends, keep the stocks for the long run - at least 5 years, believe that assets are linked to time because time is the single most important factor in investing.
Look for companies that 1. have a consistent track record of increasing earnings of at least 7 percent for the last ten years 2. have a good prospect of surviving over the next 50 years 3. don't have huge capital demands for the profits. Ideally, this means the company is rich; it has a service or product that produces a growth rate in earnings over a ten years because ten years suggests reasonable market dominance; and invest in companies that will offer value, in the future. What are people looking today that will meet these criteria? Biotech, Robotics, Fuel cells, and alternate energy. However, most of these companies are emerging technologies which would not qualify them from investment opportunity short term. Large companies like Genetech would qualify, whereas, small companies like iRobot would not because it does not have a ten year track record. Glassman conservative Warren Buffet like approach demands forces the investor too follow the maximum, "Do not invest too lose money." Furthermore, Glassmans conservative view attacks speculation and favors Graham security investment strategies of predictability. Glassman surprisingly does not predict doom for the speculators, instead says, "history shows that the fate of the stock market is closely connected to the fate of the economy". A speculator would own hugh about of stock or commodities in a few sectors, whereas, a security investor would diversify into a portfolio of many stocks. Well, why not just invest into a Index or the whole market, per recommendation by John Bogle? The Index returns about 7 percent and does not require buying and selling commissions. It is obvious, that Glassman has some speculation visions, as a part of his core beliefs and hopes for above market average profits. Glassman attempts to justify his risk based beliefs by saying, "when you hold a stock long enough, it becomes less risky than a bond." The assumption is the investor will select a stock that will not have wide fluctations, large downward trends, and cause the investor too sell because of pain; and having faith the stock market will outperform bonds, he makes the prediction that stocks will be higher priced over time. Glassman has not decided against risk stating, "prudent behavior is a key to investing", "volatility can an investors best friend because it offers good stocks at bargin prices", and "risk is a necessary evil in the stock market". This is the language of a speculator.
Don't trade stocks. Buy low and sell high is impossible for an investor to turn a profit. Short term investing is a losing game reeling in the suckers by the thousands. The only way to make money short term is to own the market and have the financial power to manipulate it. So the best investment advice for an average investor with less than a billion dollars is too dollar cost average. In other words, invest money consistently over a large period of time and let the average work, for ones benefit. One good idea is too use a low cost broker, such as, sharebuilder and setup an investment plan of 10% a pay period diverting into a purchase plan which cost about $4 per transaction.
Pay no attention too the Fed. This is illogical. If the stock market is affected by the economy than if the Fed monetary policies cause inflation or deflation, the stock market valuations will also change. Glassman must be assuming that investors do not borrow money to make their stock purchases. Interest rates slow down or heat up the economy. High interest rates slow down company earnings, if they are heavy in debt. Glassman investments do not carry heavy debt loads and operate cash rich and this justifies ignoring high interest rates. However, it does not explain the interconnected web of commerce where companies are constantly adjusting their inventories either too cut costs or replenish depleted inventories depending on economic factors. Glassman's faith is that the Fed will do a descent job in maintain the valuation of the dollar which means controlling inflation, adjusting interest rates, and maintain dollar hegemony against the euro and yen. The second assumption is that the stock market will continue to climb onward and upward eventually crossing 36,000.
Secret Code? Ha ha ha!.......2005-04-28
Mr. "Dow 36,000" wants you to believe him this time. No, really, he means it. Right. In 2005 he he wrote an article denying that there was a housing mania about to go bust. I think that's a pretty good indication that there is a housing mania about to go bust. This guy is amazing.
Don't waste your money on this one........2003-08-01
I found this book a waste of my time.
Not again!.......2002-08-16
It wasn't until I recently read a piece by James Glassman in the Wall Street Journal that I learned that this guy had the audacity to write another book! After his ludicrous predictions in his ill-fated "Dow 36,000" book, you think the guy would want to stick his head in the stand forever. Frankly, I wouldn't trust anything that Glassman, who has been accused of misusing data, has to say. If you want to improve your investing prowess, I'd suggest relying upon the recent books written by William Bernstein and Lynn O'Shaughnessy. Don't waste your money on the Secret Code.
Customer Reviews:
Greatest investment timing system ever.......2007-01-28
The book shows how if the authors system was used over the past 50 years in the Dow the return would have been astronomical, getting in at almost the bottom of each bear market and out at days or months with in the peak. What is the secret? Interest rates, they are what drive the inevitable business cycles of boom and contraction. The author also recommends bonds during times of high interest rates, and Gold as an inflation hedge while the stock market is in a bear market. The book is fascinating and helpful, but difficult to follow at times. But the effort is well worth it. Here are some pointers to watch for market trends:
If either long term or short term interest rates fall to their lowest level in fifteen months, it means that a powerful expansionary force has been unleashed that will propel the economy and the stock market much higher.
In order for the the investment climate to turn hostile both the 90 day T-Bill rate and the AAA corporate rate must reach a seven year high.
When both short and long term rates have recorded a seven year high, it is a surefire sign that the economy is becoming fragile and that a nasty stock market plunge is imminent.
each and every bull market since 1946 began after the Dow had retreated to a two year low. The three bull markets during the last deflationary environment began after the Dow had sunk into a five year low.
There is much more, buy and study the book to avoid getting clobbered in the next bear market.
Extremely accurate long term buy and sell method........1999-03-12
His basic method (oversimplified) is to buy 25 months before every presidential election. Other criteria, interest rates and inflation, tell you when to sell. Lots of money was made by this method by buying in Oct '98 and Oct '94. Just look at any major index, or all of them. His major premise was stated in the early book, and updated in the "'90's" book. I keep looking for his next one.
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