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    1. The Wealthy Barber, Updated 3rd
    $13.26 $11.90 list($18.95)
    2. Buffett : The Making of an American
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    3. Beating the Street
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    4. The Intelligent Investor: The
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    5. Where Are the Customers' Yachts?
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    6. A Random Walk Down Wall Street:
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    7. Learn to Earn : A Beginner's Guide
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    8. Security Analysis: The Classic
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    9. Buying Stocks Without A Broker
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    10. Making the Most of Your Money
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    12. What Works on Wall Street: A Guide
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    14. The Motley Fool Investment Guide:
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    15. The Money Masters
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    16. The Dividend Investor: A Safe
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    17. One Up on Wall Street: How to
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    18. The New Money Masters
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    19. Common Stocks and Uncommon Profits
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    20. Stock Picking: The Eleven Best

    1. The Wealthy Barber, Updated 3rd Edition
    by DAVID CHILTON
    list price: $14.00
    our price: $10.50
    (price subject to change: see help)
    Asin: 0761513116
    Catlog: Book (1997-11-25)
    Publisher: Prima Lifestyles
    Sales Rank: 6741
    Average Customer Review: 4.63 out of 5 stars
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    Book Description

    " . . . quite simply the best financial self-help book." ... Read more

    Reviews (59)

    5-0 out of 5 stars Excellent, easy to read introduction for managing finances.
    Chilton's book is a must read for anyone over the age of 10.

    Written as a novel, Roy the Barber takes clients through easy steps to create wealth. He discusses everything from the new Roth IRAs to home buying, mutual funds, compounding intereset, investment strategies and how to save money necessary for achieving financial wealth. His advice is practical, sound, and realistic.

    Unlike most financial books, The Wealthy Barber is free from technical jargon, and encourages readers to take action now to be smarter about money issues.

    Even seasoned financial wizards benefit by discovering better ways to explain finances to others.

    Read it, and pass it on to your spouse, family, children and friends.

    5-0 out of 5 stars Get Rich Slowly, Steady, and with Sure Success
    There are a lot of books on how to manage your money. Most are too thick, few leave a lasting impression and almost none of them are fun to read. One of the first exception is "The Wealthy Barber" by David Chilton. It is really fun. You read this book like a novel with a trouble putting it down. But by combining the common sense and humor this "novel" in its dialog style shows that sound financial planning is pretty simple stuff. And it actually makes personal money management understandable and attainable.

    I believe, plenty of years from now "The Wealthy Barber" could be remembered by readers. And they could remember Mr. David Chilton not as best-selling author, but as the guy who inspired hundreds of thousands of people to save their way to prosperity. In fact, for many readers, "The Wealthy Barber" is possibly the only book they need. If ever a financial planning was written for those without any financial backgrounds, this is it - "The Wealthy Barber".

    5-0 out of 5 stars Well-balanced advice
    If you cannot decide whether you should own or rent a place to live in, the barber discusses this issue very thoughtfully, and this discussion will help you make the better decision.

    The barber does believe that it is possible to make money in stocks. If you have discipline and courage, he thinks you can actually buy low and sell high. The barber tells you to buy undervalued stocks and then sell them later for a higher price when the real value of the stock is recognized by the market. The author does warn you that you do have to be able to tell the difference between an undervalued stock and one that is unhealthy. This is tough to do. So it is not the barber's fault if you lose money because he leaves it there for you to figure out.

    What about buying low and selling high in real estate? On page 178 Mr. Chilton writes that sometimes it is possible to "buy it [real estate] at any price, sell higher." But in other parts of the book he writes that real estate prices won't always keep going up.

    The 10% solution is not enough, it won't get the job done for many readers. There are signs that inflation, after a long absence, is on the way back. It should be a 15% solution.

    I deduct one star because the book does not have an index. I think an index is very useful, and adds value to a book. However, on page 44, after discussing all the pros and cons of owning versus renting, the author says that buying the condo was a good idea. I became so happy that the barber put the new condo owner on the right track, I gave him back the star.

    3-0 out of 5 stars All I have to say is get on with it!
    I almost didn't make it through the first part of the book.
    The first two chapters are a waste of time unless you are a Detroit sports fan. (And I live in Detroit)
    The next two chapters talk about wills and life insurance and have some useful information if you don't know anything about either of these two areas.
    Start on Chapter 6 for retirement
    If you are already a home owner, invest in a 401k or some other type of IRA, and have some idea of what you do with your disposable income then skip this book.

    IF YOU ARE JUST STARTING OUT, I must say this book has much more "real" concrete financial advice than a book like Rich Dad Poor Dad. If you had to pick between the two, select this one

    4-0 out of 5 stars The Wordy Barber
    There are true gems in this book and even though they are buried in a lot of irrelevant drivel, they are there! Do not let the silly modern 'reader friendly' fad of making any topic "easier", ' idiot proof' and 'for dummies' by the use of a conversation that is utterly off putting and idiotic, stop you from gathering the gems of knowledge in this book. Rise beyond that and get the BENEFITS!

    Unlike some recent popular drivel that masquerades as ' a road to financial freedom' etc, after you have read this book you have a detailed blue print that you can follow immediately and get yourself on tract to a secure financial future.

    As I said.. wordy, so 4 stars. ... Read more


    2. Buffett : The Making of an American Capitalist
    by ROGER LOWENSTEIN
    list price: $18.95
    our price: $13.26
    (price subject to change: see help)
    Asin: 0385484917
    Catlog: Book (1996-08-18)
    Publisher: Main Street Books
    Sales Rank: 3760
    Average Customer Review: 4.82 out of 5 stars
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    Book Description

    An intimate portrait of Warren Buffet, the world's richest man. With unprecedented access, Roger Lowenstein provides the definitive, inside account of the "Oracle of Omaha, " a true American original. 2 cassettes. ... Read more

    Reviews (60)

    5-0 out of 5 stars An amazing American capitalist with principles.
    The amazing securities investment analyst Warren Buffett is the focus of this near hagiographic biography that is filled with details about the life of an American capitalist that rivals the likes of Carnegie, Ford, or Morgan. Lowenstein has done a remarkable job in telling the financial story of Buffett's rise to securities fame, although not as much about his actual strategy (that's another story). The early years depict a precocious child adept at numbers in a household rich with a domineering mother and business-minded father. Buffett's early investments, his famous relationship with Katherine Graham of The Washington Post, his role in the Capital Cities purchase of ABC, his rescue of the Solomon Brothers, and his unique personal relationship with his wife all make for a highly interesting, fascinating tale, sure to be a hit in schools of business. Buffett's securities firm stock value has ranged from a meager $7, to an estimated 1994 value of over $20,000 per share, evidence enough of the sagacious leadership of this preeminent securities specialist. During the reckless '80s, Buffett's principle-centered approach to building value never wavered, thus solidifying his fame. James Lurie's powerful reading is dead on, evoking the power of this man's singular character. Highly recommended.

    5-0 out of 5 stars Proof that a book about investing can also be interesting
    I picked up Roger Lowenstein's book because I had enjoyed his column in the Wall Street Journal. In a nutshell, he and Mr. Buffett explain the differences between investing and speculation. Purchasing a stock based on a cold-blooded assessment of its VALUE is investment; buying a stock based on guesses about the general market, the economy, the mood of the public or other factors that are inherently unknowable is speculation. Unfortunately, that distinction has largely been lost on the frenzied day-traders, the purchasers of Internet stocks and the legion of "expert" market prognosticators who ought to know better. If you are interested in investing successfully for the long term, you should read this book. Apart from all that, Lowenstein also gives us a highly readable story of Warren Buffett the person, and I came away with a strong sense of Mr. Buffett's personal integrity and intellectual discipline. (In a curious way, though, the laser-like focus and icy rationality that have made Buffett so successful as an investor have apparently made him less successful as a father and husband. Read the book and you'll see what I mean.) The book is worth reading simply for what it has to say about this remarkable man.

    5-0 out of 5 stars Best Buffett Book Ever
    I've read a lot of books about Warren Buffett and this is by far my favorite. If you have to read only one, read this one.

    5-0 out of 5 stars Excellent reading
    I found that I knew so little about Warren Buffett, and this gave me a wealth of knowledge. Unfortunately, the book was written before the tech boom and subsequent collapse. Therefore, you do not get a sense of what he did during that time of hysteria, but prior to that it gives an insight that most authors aren't capable of relaying.

    5-0 out of 5 stars How Buffett Thinks
    This book helps you understand how one of the greatest business thinkers of all time got that way. (How would Buffett approach a paper route as a boy, for example?) If you are interested in getting inside his head, this book is a good way to start. ... Read more


    3. Beating the Street
    by Peter Lynch
    list price: $15.00
    our price: $10.50
    (price subject to change: see help)
    Asin: 0671891634
    Catlog: Book (1994-05-25)
    Publisher: Simon & Schuster
    Sales Rank: 3404
    Average Customer Review: 3.61 out of 5 stars
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    Book Description

    Develop a Winning Investment Strategy -- with Expert Advice from "The Nation's #1 Money Manager"

    Peter Lynch's "invest in what you know" strategy has made him a household name with investors both big and small.

    An important key to investing, Lynch says, is to remember that stocks are not lottery tickets. There's a company behind every stock and a reason companies -- and their stocks -- perform the way they do. In this book, newly revised and updated for the paperback edition, Peter Lynch shows you how you can become an expert in a company and how you can build a profitable investment portfolio, based on your own experience and insights and on straightforward do-it-yourself research. There's no reason the individual investor can't match wits with the experts, and this book will show you how.

    In Beating the Street, Lynch for the first time:

    * Explains how to devise a mutual fund strategy
    * Shows how he goes about picking stocks, step-by-step
    * Describes how the individual investor can improve his or her investment performance to rival that of the experts of the investment clubs.
    ... Read more

    Reviews (44)

    4-0 out of 5 stars Peter's Principles are great
    They've has done it again, this book is very funny and filled with useful tips from seasoned investor Peter Lynch. This book has several of "Peter's Principles" (which are very humorous one-liners that make a lot of sense for investors.) My favorite parts of this book are: The story about the St. Agnes 7th grade portfolio managers (these kids beat out 99% of fund managers when they had a two year gain of 70%.) Another part of this book that I enjoy are the subtle tips for evaluating stocks. Mr. Lynch doesn't tell you to do this, that, and another thing to find the ten-baggers, but he does give clues throughout the text.

    Reed Floren

    1-0 out of 5 stars Yet Another Mis-Leading Exhortation to Buy Stocks
    This book, written in 1993, simultaneously comes at the end of Mr. Lynch's career in money management and the beginning of a long sprint in the broader stock market, largely fueled by tech/internet stocks. In any period, one can expect 1 of 100 money managers to far outperform both his or her peers and the broader market by chance. Mr. Lynch was that one money manager.

    Mr. Lynch starts the book by turning investing into a game. Although his method was subtle (using an example of grammar school kids picking stocks), the implications are profound. Investing does share some resemblance to many games we play in life, and one of the Great Money Masters, the fictitious 'Adam Smith' readily admits this in his classic book on investment, The Money Game.

    However, Mr. Lynch takes things one step beyond the game, and as the book's title hints, he turns all investment activities into a competition. In so doing, he pits the small investor against the institutional Players, and as a result, sets up the naive reader to walk a well-trodden path littered with sorrow and the bones of many foolish investors.

    Granted, 'Adam Smith' once said, "The Players aren't smarter than you. They just have more information", and there also is a certain level of truth to Lynch's assertion that the Little Guy can outperform the Big Boys. However, Lynch fails to disclose one important and critical difference.

    I believe it was Hemmingway who said, in response to Fitzgerald's observation that the rich were not like the ordinary schmuck, that "Yes, I know. They have more money." Something frightfully similar can be said of the key difference between the Little Guy and The Players, but with one critical insight: The Players do not merely have more money, they have a lot more of Other People's Money. That in essence is the fundamental difference between The Players and the Little Guy, who must wager his (or her) own hard-won funds in order to play the Grand Game- the stock market.

    Needless to say (but will be said anyway), the consequences of one's actions weigh heavily on one's shoulders when one's own money is at stake, but really aren't felt when Other People's Money is on the line. The Players play with Other People's Money, but you, dear investor, play with your own hard-won earnings. That said, the intelligent investor must ask herself, 'Do I really want to play with my money?'.

    Beating the Street rests heavily on this undisclosed truism and a host of faulty assumptions. The book really is a sales pitch to buy stocks and to participate as much as possible in stock mutual funds. To that end, Mr. Lynch places before the reader a number of questionable arguments. Here are just two:

    First, perhaps the most flawed argument of the book is that the small investor, upon retirement, will spend more than she earns in investment income. This is stated as a bona-fide fact when in reality, it is a generous assumption. From this assumption, Mr. Lynch then argues that one should invest in stocks and use some portion of the capital appreciation in addition to the dividend income for the purpose of meeting one's spending needs. He then fortifies his argument by citing inflation and emphasizing its ability to erode fixed income.

    The facts are 1) how much investment income you will need is determined by how much you plan to spend, 2) many people choose to work either part-time or full-time after retirement (either out of necessity or desire), and thus have some supplemental income, 3) though the general historical trend for stock prices has been 'up', there is nothing that says that stocks have to go up, and finally 4) inflation can adversely affect stock prices (and have actually done so in the past). Lynch invokes the inflation argument when trashing bonds, and abandons it when touting stocks, even though inflation acts on both. Nor does his idealized comparison of stocks vs. bonds on pages 52-56 take into account taxes and transaction costs incidentally.

    Second, on page 69, Mr. Lynch boldly says that, "If you plan to to stick with a fund for several years, the 2-5 percent you paid to get in will prove insignificant". This last statement may actually be worse than his first (of many) flawed arguments, for the following reason: the money lost to the load fails to compound at whatever investment rate of return, and over long periods of time, the difference between what you committed and what gets actually invested grows- and this is before we even consider the effect of annual expenses.

    These and other flawed but superficial arguments for stock investing make for very difficult reading. Apart from the gross argumentative errors, the book presents many of Mr. Lynch's reminiscences of a stock market long gone. However, there are some useful hints in the book, most likely put there by Mr. Rothchild, but they are far outnumbered and over-shadowed by Mr. Lynch's deceptive pitch to buy stocks.

    5-0 out of 5 stars Excellent
    It's hard to find a better written book on investing that Beating the Street. Despite working in the industy for many years, Peter Lynch urges people to do it for themselves. He writes clearly giving examples of how one could do better than the Wall Street pros. This book is one of the best on investing that I have read.

    4-0 out of 5 stars Not Half Bad.
    In my opinion, this book was a lot more readable than I would have expected a book about the stock market to be. The light humor (very light) kept the book interesting and there were plenty of good tips. The "20 Golden Rules" were great. Lynch obviously knows what he's doing and he proves it by giving real life examples from his own successful experience. The only setback I found was that the tips were made out to be really easy, but they sounded tough. Overall, though, I would recommend it to both beginners and pros involved in the stock market.

    5-0 out of 5 stars Learn from the Master
    Lynch's success comes not from his complex algorithms and estoric financial modeling, but from opening his eyes to the world and noticing good businesses.

    His success at Magellan is attributed to his ability to find good companies, at reasonable valuations, and be patient enough to watch them climb.

    This book is much more specific than his other release. Here, he provides detailed accounts of stock picking strategy, including how to choose from different stocks, when to buy, when to buy more and when to sell.

    This is a quick read, but there is a huge amount of information that the average investor can use to their benefit. ... Read more


    4. The Intelligent Investor: The Classic Bestseller on Value Investing
    by Benjamin Graham
    list price: $30.00
    our price: $19.80
    (price subject to change: see help)
    Asin: 0060155477
    Catlog: Book (1997-01-01)
    Publisher: HarperBusiness
    Sales Rank: 4400
    Average Customer Review: 4.29 out of 5 stars
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    Book Description

    The classic bestseller by Benjamin Graham, perhaps the greatest investment advisor of the 20th century, The Intelligent Investor has taught and inspired hundreds of thousands of people worldwide. Since its original publication in 1949, Benjamin Graham's book has remained the most respected guide to investing, due to his timeless philosophy of "value investing," which helps protect investors against the areas of possible substantial error and teaches them to develop long-term strategies with which they will be comfortable down the road.

    Over the years, market developments have borne out the wisdom of Benjamin Graham's basic policies. Here he takes account of both the defensive and the enterprising investor, outlining the principles of stock selection for each, and stressing the advantages of a simple portfolio policy. Among the book's special features are the use of numerous comparisons of pairs of common stocks to bring out their elements of strength and weakness and the construction of investment portfolios designed to meet specific requirements of quality and price attractiveness.

    The Intelligent Investor may be the most important book you will ever read on making your investments a success.

    "The Intelligent Investor is the best book ever written for the stockholder," says author and investment counselor John Train. Benjamin Graham's classic work offers sound and safe principles for investing-principles that have worked for more than forty years since the first edition was published. With an introduction and appendix by Warren Buffett, one of Graham's most famous students in investing strategy, this book takes account of both the defensive and the enterprising investor.

    "By far the best book on investing ever written." -- Warren E. Buffett

    "There have been other good books written about money since 1841, but only a few hold up. The best known and most likely to make you money is The Intelligent Investor." -- Andrew Tobias

    "Graham ranks as this century's (and perhaps history's) most important thinker on applied portfolio investment." -- John Train, author of The Money Masters ... Read more

    Reviews (55)

    5-0 out of 5 stars One of the best books on investing ever written
    This is a must read for any person serious about investing (ie not gambling) in the stock market. The book is rather easy to read. Graham was an investor but also a teacher (at Columbia). He has a good balance between technical yet simple explanation. If you know absolutely nothing about the stock market and financials, you may still find it a bit obscure at time, but you should probably not invest directly anyway (at least not right away). For everyone else, read it.
    Yes the latest edition was written in 1972. It is amusing at time to see the evolution. But actually this evolution is also part of what you learn by reading the book. You do see that some things never change (like valuing a company!), and others do change quite a bit. it gives you a nice perspective. Now the intersting part of the book is to understand the logic of Graham, less its conclusions. The conclusions date a bit. Graham used to work at a time when most corporations where industrial companies, when nowadays services are dominant for example. So take graham conclucions with a grain of salt. But do read in depth and try to understand his logic.
    Value investing won't make you rich overnight. But reasonnably well done, it will avoid having you lose money, and can even open you the doors of year by year over-performance in the market. Warren Buffett and several other successfull investors have followed the approach of Graham. But as they all say, when you first read about value investing, you either understand it right away, or you never will. But trust my 15 year of investing on the stock market, you're better of understanding the value of value investing. And this book is the key to it.

    3-0 out of 5 stars Somewhat out of date
    Before deciding on whether to buy this book or not, one should take into account that even this version is 30+ years old, and that the original version was written over 50 years ago. Though successful investing for the greater part is founded on principles (which are timeless), the content, style and writing of the book is old-fashioned, which makes it a bit tedious to read.

    Stock market history may be interesting, but the book continuosly refers to the 1971 - 1972 stockmarket, which is quite a bit out of date. There have been considerably better books written on investing since then (Hagstrom: "The Warren Buffett way", Lynch x 2: "Beating the Street, One up on Wall Street").

    Yet there are still interesting chapters in the book, and some valuable pieces of advice as well. The book contains what Buffett views as the most valuable words ever written on investing: "Investing is most intelligent when it is most businesslike". Other valuable pieces of advice include why one should be careful about investing in IPOs.

    Since one basically only has to understand and follow a couple of basic laws to become successful as investor (and those laws has nothing to do with beta or APT) and this book contains some of them, it can be recommended, with some reservation. But it is tediouos to read and better books on investing have been written since 1973.

    5-0 out of 5 stars Buy it !!! For any investor
    The issue is how to make money on the stock market.

    The conclusion is that if you have the discipline and follow the advise with rigour, you will make money on the stock market. It is not for a day trader but a genuine investor.

    There are many pieces of sound advice. One of the recommended easy and time saving way to pick a stock: buy the stock of Dow Index companies with minimum P/E ratio.

    It is a classic.

    3-0 out of 5 stars Use With Caution
    It may seem an odd thing to say about a book whose hallmark is prudence, but this volume is dangerous. The general principles it inculcates are fine but be very wary of following its more specific recommendations such as avoiding a stock if its price/book ratio is greater than 2. Under current conditions you would end up with an odd, unbalanced portfolio. The basic premise of this book, that Mr. Graham could reduce his complex discipline of value investing to rules of thumb simple enough for individuals to follow, may just be a mistake.

    5-0 out of 5 stars Eye Opener
    Graham's book is by far the most thorough, well thought out volume on investing that has ever been produced. Graham's thought processes and advice are indispensable. ... Read more


    5. Where Are the Customers' Yachts? or A Good Hard Look at Wall Street
    by FredSchwed, Marketplace Books
    list price: $19.95
    our price: $16.96
    (price subject to change: see help)
    Asin: 0471119784
    Catlog: Book (1995-02)
    Publisher: Wiley
    Sales Rank: 83648
    Average Customer Review: 4.52 out of 5 stars
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    Book Description

    "Once I picked it up I did not put it down until I finished . . . What Schwed has done is capture fully—in deceptively clean language—the lunacy at the heart of the investment business."—From the Foreword by Michael Lewis, Bestselling author of Liar's Poker

    This hilarious portrait of everyday Wall Street and its denizens rings as true today as it did when it was first published in 1940. Writing with a rare mixture of wry cynicism and bonhomie reminiscent of Mark Twain and H. L. Mencken, Fred Schwed, Jr., skewers everyone including himself in his brilliant send-ups of bankers, brokers, traders, investors, analysts, and hapless customers.

    "How great to have a reissue of a hilarious classic that proves the more things change the more they stay the same. Only the names have been changed to protect the innocent." —Michael Bloomberg President, Bloomberg, LP

    ". . . one of the funniest books ever written about Wall Street."—Jane Bryant Quinn, The Washington Post

    "It's amazing how well Schwed's book is holding up after 55 years. About the only thing that's changed on Wall Street is that computers have replaced pencils and graph paper. Otherwise, the basics are the same. The investor's need to believe somebody is matched by the financial advisor's need to make a nice living. If one of them has to be disappointed, it's bound to be the former."—John Rothchild, Author, A Fool and His Money Financial Columnist, Time magazine

    "A delightful classic and reminder of excesses past and how little things change." —Bob Farrell, Senior Vice President, Merrill Lynch ... Read more

    Reviews (21)

    4-0 out of 5 stars A Look at Wall Street Excess with Classic Humor
    If Will Rogers and Mark Twain got together to write a book on the excesses of Wall Street, the outcome would have been this book. Having stood the test of time and now displayed as an investment classic, this book is a must read for anyone who works in finance.

    The author does a great job of humorously outlining the excesses of Wall Street, the classic conflicts between bankers and their clients, and the fickle nature of the market. It is a very quick read with many anecdotes that are relevant to this day.

    5-0 out of 5 stars An Investment Classic All Stock Investors Should Read!
    This book clearly deserves more than five stars for exposing the folly of Wall Street in the most humorous possible terms.

    This book's fame far exceeds the number of people who have read it. Almost every experienced stock investor will cite examples from the book, without even knowing their source.

    The title refers to an ancient story (which the author finds is probably at least 100 years old by now) about a visitor to New York who admired the yachts that the bankers and brokers had in the harbor. Naively, he then asked where the customers' yachts were. Naturally, there were no customers' yachts.

    Let me set the stage. The author spent two years on Wall Street in the 20s, but knew it better than that and continued to invest in stocks. He wrote the book in 1940 after the horrible bear years of 1929-1940. The memories of the 1920s were still fresh. Then he updated the book in 1955 in the midst of the 50s bull market with a new introduction in which he explained that the book did not need updating.

    Although commissions are no longer fixed, and few spend the day sitting in a broker's office, many of the other observations in the book remain as timely as those in The Madness of Crowds. Human nature doesn't change.

    Behind all of the hype about getting rich with stock investments is a sad reality. Over a lifetime, the vast majority of people get poor results from their stock investing. Around 90 percent of professionals will also underperform the market averages over their careers.

    But the desire to "outsmart" everyone else is almost universal. Raging bull markets, like the one we had until March 2000 on the NASDAQ, only tend to reinforce these ultimately expensive urges.

    I have been around professional investors for over thirty years and all the big scores I remember involving stocks came after someone who was a founder or worked for a company that went public cashed in their stock and stock options after many years of service. These are not stock-investing events, they are entrepreneurial compensation. In the Money Game, Adam Smith pointed that out, and it remains as true today as it was then.

    One of the classic stories in this book is about what would happen if 4000 people started flipping coins against each other. You are eliminated from the competition after one loss. Although by definition, half would win and half with lose with each flip, those who had won ten times in a row (as must happen for some in this format) would soon start to give lessons in coin flipping techniques. That story nicely captures the folly of Wall Street. Even though some may win, it usually doesn't mean anything.

    The book contains other investment classic stories that you must have in your repertoire. The book is brilliantly illustrated by the classy cartoons of Peter Arno. It is worth acquiring the book just for those.

    The subjects covered include Wall Street's passion for prophecy, financiers and seers, customers (or the sheep to be shorn), mutual funds, short sellers, options, speculators and the bull market of the 20s, and the excuses handed out to those who are relieved of their money.

    The writing style is urbane and witty. For example, there is the usual disclaimer on not following the advice in the book in the beginning. Except, it is illustrated by two hands with fingers crossed. And, the warnings are a just little different. The information in this book "while not guaranteed by us, has been obtained from sources which have not in the past proved particularly reliable."

    The author had discovered that titles cannot be copyrighted, and he "had planned to have my book appear under a good title, The Adventures of Huckleberry Finn."

    The author's favorite review of the book contained this phrase, "If I were J.P. Morgan, and I have no reason to suspect that I am not . . . .", and was signed by the author of the review, Mr. Frank Sullivan. The subsequent witty correspondence between them is included in the introduction.

    If you are a fan of Louis Rukeyser, you will find the humor here comparable with the badinage on Wall $treet Week during the opening comments.

    Seriously, the humor in this book will help you to better understand the risks associated with stock investing. There is a wonderful quiz you can take that will tell whether or not you should be a stock investor. Most will not pass that quiz.

    If you still want to own stocks, I suggest that you advance to John Bogle's book, Common Sense About Mutual Funds. It can make you some real money.

    If you do not want to own stocks, go instead to Rich Dad, Poor Dad. Follow on to Cash Flow Quadrant.

    I also suggest you think about where else folly is taken seriously. This will also put things in perspective for you. My favorite location is the Congress of the United States.

    Keep looking for those yachts when you make your investments! To whom do they belong?

    1-0 out of 5 stars Laymen's Fun
    Well, maybe this was a 2 star book, but to me it was hopeless from the start. "Fred Schwed", a jokester of a name to begin with talks about Wall St just as naively as anyone who barely knows it.

    His viewpoints are clearly from the beginner's point of view, or rather the beginner intermediate- the guy who has just accepted that trading is luck only and that long term investing is simple diversification. He hasn't quite accepted that there are true winners out there and that there is something of an art to the game and eagerly puts any down who attempt to play it. Clearly he has associated with those who are not "in the know" [...]

    Anyways, I started at page 1 and read almost to halfway through the whole book before I could bare no more. I really did try to read it through, thinking that I could squeeze something worthwhile out of it. No, I can stand it anymore. I think I'll leave it at the train station on the way to the coffee shop right now! Waste of $[...] and an hour or so of my time..

    Definitely not deserving of "Wiley Investment Classic" with the likes of Fisher and LeFevre.

    5-0 out of 5 stars Of the Advantages of Insular Thinking on Wall Street...
    This book is very lucidly and wryly written, has sometimes a bit of a cynical objective tone (the author did get burned), but is definitely very humorous, as well as light and agreeable to read. The book is also spiced up by over a dozen of humorous old-fashioned cartoons from Peter Arno.

    In essence, this books very entertainingly demonstrates the many advantages of having or gaining an independent critical thinking when facing the follow-the-pack mentality of Wall Street mobbers of all sorts (personally, people in a hurry always made me confused). Indeed, if you hadn't already discovered, the world of finance is probably one of the most implicitly and subtly coercive one there is ...

    In these entertaining pages, you will discover that the vast supply of sheer mercantile marketing strategies of Wall Streeters of all sorts are only matched by the benevolent gullibility of a big deal to many Main Streeters. So if you might say there is a certain justice to it after all, you will definitively agree that there is a definite direction as to where the money flows, that is statistically at least... Check out those yachts!

    In a broader context, the toll bridge of random walks leading (eventually) to so-called efficient markets does indeed feed on stocks being erratically transferred to and fro at whim, but you can be sure that Wall Street's marketers and intermediaries do have a vested interest in getting their (fair) share out of the (many transaction) deal(s), i.e. the more activity, the better (for them)... But keep in mind that these frictional and parasitic costs are totally non-productive in their ultimate economic end-result, apart from the fact that they provide a liquid (and sometimes efficient) market... a high price to pay for short-term inefficiencies, that also tends to favor a trading instead of an investing mentality...

    People's biggest problem seems to be that they just can't sit still (cf. a 17th century author named Pascal...)... But just in case you believe this is another story altogether, let me quote the final words of Fred Schwed's Introduction to the 1955 Bull Market : "[...] my tendency has been to buy stocks, [...]. Then when they show a profit I sell them, exultantly. (But never within six months, of course, I'm no anarchist.) It seems to me at these moments that I have achieved life's loveliest guerdon - making some money without doing any work. Then a long time after it turns out that I should have just bought them, and thereafter I should have just sat on them like a fat, stupid peasant. A peasant, however, who is rich beyond his limited dreams of avarice."

    If you are looking for a similar, but more recent, and probably a bit more sophisticated book on insular independent thinking in the face of interested so-called Wall Street and/or corporate professionalism, check out Lawrence Cunningham's fine collection of Essays on Corporate America, also a very worthy and enjoyable read.

    To come back to Fred Schwed's book, you will probably enjoy it a great deal, and, 'tell you what, it might even make you richer in what you already have, instead of just making you richer in what you might have, if... to put it otherwise, five hundred dollars and some common sense are often worth much more than ten thousand dollars and the lack thereof, at least in the end result...

    5-0 out of 5 stars Original Motley Fool
    "The more things change, the more they stay the same." That's how Fred Schwed, Jr. introduces this gem, if my translation of the French is correct. The book is timely, even though it was first published in 1940. The author shares his observations of Wall Street with wit and humor.

    "The chief concern of this book", he states, "will be with an examination of the nonsense ... ." One example is this excerpt from a paragraph he takes out of The Wall Street Journal: "the action of the market was regarded as in the nature of a technical recovery, with little thought of the imminence of dynamic action." Nonsense was apparently well articulated before the bull market of the '90s. Another example is his explanation of why people buy high and sell low when they go to the stock market. They mistakenly believe that once prices are rising (or falling), they'll continue to rise (or fall). "But it is not a fair thing to say of the stock market," he claims,"which, not being a physical thing, is not subject to Newton's laws of propulsion or inertia."

    There's more than "an examination of the nonsense" here. Readers may take "A Little Aptitude Test" to see if finance is their calling and consider "A Little Wonderful Advice" on getting rich. If Schwed's advice doesn't make you rich, his hilarious insight will at least make you laugh. ... Read more


    6. A Random Walk Down Wall Street: Including a Life-Cycle Guide to Personal Investing
    by Burton G. Malkiel
    list price: $15.95
    our price: $15.95
    (price subject to change: see help)
    Asin: 0393315290
    Catlog: Book (1996-09-01)
    Publisher: W. W. Norton & Company
    Sales Rank: 250539
    Average Customer Review: 4.14 out of 5 stars
    US | Canada | United Kingdom | Germany | France | Japan

    Book Description

    This gimmick-free, irreverent, and vastly informative guide--with over half a million copies sold--shows how to navigate the turbulence on Wall Street and beat the pros at their own game. Skilled at puncturing financial bubbles and other delusions of the Wall Street crowd, Burton Malkiel shows why a broad portfolio of stocks selected at random will match the performance of one carefully chosen by experts. Taking a shrewd look at the high-tech boom and its aftermath, Malkiel shows how to maximize gains and minimize losses in this era of electronic brokers, virtual gurus, and flashy investment vehicles. Learn how to analyze the potential returns, not only for stocks and bonds, but for the full range of investment opportunities, from money market accounts and real estate investment trusts to insurance, home owning, and tangible assets like gold and collectibles. Decode the rating game for mutual funds and discover the unique advantages of index mutual funds over the wide range of riskier alternatives. Year in and year out the best investing guide money can buy, this enhanced edition includes an update of Malkiel's famous "Life-Cycle Guide to Investing," showing how to match an investment strategy to your stage in life. ... Read more

    Reviews (109)

    5-0 out of 5 stars Quite true (in the long run).
    Having a break from school, my Finance professor suggested I read a book to help prepare me for my future in Finance. Because I have a limited background in Finance, he suggested that I read "A Random Walk" because of my insistence of finding the truth if the Efficient Market Hypothesis/Random Walk is a plasusible theory. Before reading the book I did not completly understand the logic that markets are Semi-Strong Efficient (public information/fundalmental analysis is priced into markets). After reading "A Random Walk", I finally came to a conclusion that markets are Semi-Strong.

    Looking at my other major (Information Systems), there is a strive to reduce the use of human intervention in systems. The goal is to automate the whole process in order to make it error proof against the human ability for failure. If companies pay for information systems with little human intervention to produce the most efficient system, then why do we hire managers to intervene in our money? Probably because of the flashy advertisments we see.

    Reading the book and looking at the Wall Street Journal, I have come to the opinion that the index-fund is the best option for the individual. It is the most efficient (making the highest returns for a given level of risk) and the least prone to human errors. Index-funds are designed to not be flashy, does not have humans picking stocks, yet over the long run provides the most returns.

    So why do we have fundalmental analysis, portfolio managers, reports, etc.? Most likely because we as humans always like to believe that we are better than our neighbors. We believe that we can pick a better portfolio. Unfortunatly, the odds are against you. To mettle is more likely to err.

    Overall a very good book. I especially liked the history lesson of financial bubbles. If only I read this book before the Internet bust...

    4-0 out of 5 stars History Does Not Lie. Learn to Avoid The Madness of Crowds
    As we are experiencing the bursting of another stock market bubble (the dot-com craze), Burton Malkiel's insights - first expressed in the first edition nearly 30 years ago - remain as pertinent as ever. Want to know why "reversion to the mean" is inevitable? Read Malkiel's descriptions of "The Tulip Bulb Craze", The "New Era" of the 1960's, and his insights into the dot-com craze (published before the 2000-2001 sell-off).

    Burton Malkiel correctly states that stock markets are not always rational, but that markets do over time correct themselves. He successfully presents a rational case that true value is eventually recognized by the market and this is "the lesson that investors must heed."

    This book explores in more detail than many others the underpinnings of efficient market theory and its implications for the individual investors. Should you have any doubts about the value of adopting a long-term strategy of matching, and not attempting to beat, the market, then you should read this book.

    In terms of practical application to actual investment decisions, the text not only sets forth efficient market theory but also concludes with some insightful observations about low-cost stock index funds and, if you must, how to play the game of choosing individual stocks.

    There will be a few people who have beat the market, and will beat the market in the future. As Malkiel notes, statistics tell us that a very few individuals and investment managers will randomly beat the market over a ten year period. But this is part of the randomness, not the counter to the underlying theory. Regarding the reviews posted on Amazon's site by individuals who seemingly reject Burton Malkeil's random walk theory - let's ask them again in 20 years what they think then, and I bet 9 of 10 of these individuals would have been better off (under an objective analysis) following the principles expressed in "A Random Walk Down Wall Street".

    This book is a classic. Consider it and similar well-written others by John Bogle (Common Sense on Mutual Funds) and Larry Swedroe (What Wall Street Doesn't Want You To Know) as a core part of your library and a foundation of your knowledge on investing. After reading the foregoing, consider exploring more advanced texts - such as Bernstein's "The Intelligent Asset Allocator" and Bruce Temkin's insightful "The Terrible Truths About Investing." All of these books owe homage to the foundations laid down by Burton Malkiel some 30 years ago. Buy this most recent edition, and learn to avoid the next madness of the crowd.

    4-0 out of 5 stars An excellent primer
    The book focuses on the efficient market theory. Whether or not you agree with the theory, this book provides a great deal of background on overall investing. Particularly interesting were the sections on investing fads and follies and how the perils of certain types of analysis. I wouldn't recommend working with an investement professional before you have read and digested this book.

    5-0 out of 5 stars Intermediate level Theory for the savy Investor or beginner
    As a 25 yr old newbie with no investment experience and money not yet in the stock market, Malkiel does a great comprehensive job of laying out the theories which drive the market day to day. After reading an array of stock picking books and strategies such as Chicken Stocks or Penny stocks, it was refreshing to catch up on the history of the market and the theories central to an investor's future discipline. A must read which is intelligent enough to open itself up to criticism but still back up its principles. Does not get bogged down in advanced financial math or overly difficult concepts, but conveys the principles upon which the stock market operates and with which your financial planners guide your money. Good humor laced throughout and a great overview of the last 5 years, which have been rough to say the least.

    5-0 out of 5 stars The definitive tome on the "Chicago School"
    This is the definitive tome on the "Random Walk" theory of economics - that you can't base tomorrow's price of stock based on it's historical price. The concept is deeper (stronger views claim you can't predict stock price on ANY known information - that it's already baked into the current price) and the book covers the various shades of gray.

    The author acknowledges differing pricing theories, and presents data to support his ideas. Agree or not, this is the seminal book on the subject. It's core to the curriculum of the University of Chicago's finance program - and that is quite a reference. In fact - if you disagree with the idea, and take a more behavioral or trend-following point of view, the book is worth a read to understand your enemy. :-) ... Read more


    7. Learn to Earn : A Beginner's Guide to the Basics of Investing and Business
    by Peter Lynch, John Rothchild
    list price: $14.00
    our price: $10.50
    (price subject to change: see help)
    Asin: 0684811634
    Catlog: Book (1996-01-25)
    Publisher: Simon & Schuster
    Sales Rank: 9549
    Average Customer Review: 4.04 out of 5 stars
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    Amazon.com

    To Peter Lynch, success in the stock market is pretty basic: if a company's earnings rise, then the stock price goes up. "This simple point--that the price of a stock is directly related to a company's earning power--is often overlooked, even by sophisticated investors," the former Fidelity Magellan manager writes in Learn to Earn, his third book on investing. "This is the starting point for the successful stock picker: find companies that grow their earnings over many years to come."

    One of the best managers in the history of mutual funds, Lynch is certainly the person to help people choose the right stocks and understand the market. More so than One Up on Wall Street or Beating the Street, this Lynch book is for beginning investors of all ages. Lynch and coauthor John Rothchild are family men who are worried that teenagers aren't learning enough about the importance of American companies in improving lives and creating wealth. Lynch questions why students are taught that Hamlet was a tragic hero and Napoleon was a great general, but they don't know that Sam Walton founded Wal-Mart. In fact, Lynch's grasp of the past is one of the strengths of the book. One of the best chapters is "A Short History of Capitalism," a witty and homespun look at characters like Karl Marx, the Communist who believed capitalism was doomed, and the robber barons, the shrewd railroad magnates of the late 19th century who amassed huge fortunes by manipulating the markets.

    Unlike the robber barons, beginning investors, Lynch says, should stick to the basics: get in the habit of saving and investing and putting aside a certain amount every month; develop a strong stomach because the stock market is going to fall and there's no way to anticipate it; do a little homework so you can understand the reasons to own a particular stock; and buy shares in solid companies and don't let go of them without a good reason.

    This book marks Lynch's coming out as a fan of "direct investment programs," which are offered by many good companies. You purchase a couple of shares or so directly from the company and then you enroll in a plan and buy more shares each month, in some cases without paying a penny in fees and always without a broker--the way Lynch likes it. Lynch loves these plans because they're a great vehicle for investing a little bit at a time over a long period. Grab onto a company and learn about it, Lynch writes. The more you learn, the more you'll earn. --Dan Ring ... Read more

    Reviews (48)

    5-0 out of 5 stars A must for everyone
    Unfortunately we'll have to read through passages where Lynch and Rothchild act like the readers are the 15 year-olds that they originally wrote the book for! There is information in this book that even seasoned investors do not know. Unfortunately it isn't all investment info! Lots of history here, which we really should have been taught when we were entering high school! I would recommend Learn to Earn to anyone. They will learn a lot. If you need to learn how to pick stocks based on earnings, try another book after you are done with this one! By the way, I read where Lynch donates all profits from this book to charity!

    5-0 out of 5 stars Awesome for beginners!
    My friend lent me this book and I'm so glad he did. I'm a beginner in investing and didn't have a clue about stocks or investing. This book was very concise and clearly written for a beginner investor. I've tried to read other books and either got bored or confused and stopped reading. This one I couldn't put down...so easy to read! I learned A LOT! The chapter on the history of capitalism was also interesting and helpful -- even for someone with a bachelor's in economics. I plan to buy my own copy! Most importantly, it taught me the importance of NOT spending money and investing in it instead!!! AFter reading the book, I stopped wasting money! I plan to read more of Peter Lynch's books!

    4-0 out of 5 stars Good for beginners like me
    This book is apparently written for students, but the only way you feel that is the author's occasional attempt to be hip to what brand names his younger readers would recognize.

    It is a solid introduction to how companies and the stock market works, with lots of interesting tidbits from history.

    I wish he had written more about Index Funds, because further studies have shown me that many experts regard these as the closest thing to a safe bet you can make in stocks. But of course a book consisting of the one sentence "buy index funds" might not sell well. :)

    1-0 out of 5 stars Promotes Dangerous and Inappropriate Activity
    Contrary to what the subtitle of this book says, it does not provide an introduction to investing or business. The book is in fact a blasphemous exhortation to 'dabble'- essentially to speculate, in the stock market.

    The book, which was written in 1995, right around the middle of the greatest speculative bubble in United States history to date, fed into a common and pernicious malady among small investors- everyone it seems was making 'easy money' in stocks, and naturally many wondered how they too could get some of this 'easy money'. Lynch sought to answer that question within the confines of this misguided, thoroughly misleading book.

    Well, of course you know the most recent ancient history. By the end of the 1990s and sometime around 2001, heaps of folks were lucky to have kept about half of what they put into the market, and many never even recovered (nor can they ever hope to recover) their losses to this day. More than a few readers of this book were led astray by the reckless stock cheerleading found throughout this book.

    Learn to Earn... was a bad book because it gives the uninformed reader and financial novice just enough information (and an abundance of encouragement) to get himself or herself into a whole lot of trouble in the stock market. It lays out all the benefits of investing, defends with vigor the New Improved American Capitalism, and highlights all the fun and wonderful things that can happen when one one buys stocks and becomes an owner of a Great American Enterprise, without devoting any significant space to the pitfalls, costs and dangers of stock operations. Yet, I sensed in reading this book that the text was written two minds. While Mr. Lynch prattled incessantly about the wonderful world of stocks, with paragraph after paragraph of ebullient optimism, every so often Mr. Rothchild slips in a bit of sobering realism with a sentence or two here and there. In particular, really good morsels of information such as: starting a dedicated savings program before embarking on investing, managing and even better, avoiding, credit debt for investment success, and in any bull market, in the end the little guy gets killed and the Big Boys get bailed out by their rich and politically powerful cronies (as we saw in the last pass of the bull), could only have come from the level-headed and jaded mind of Mr. Rothchild (who by the way authored the cleverly titled gem, A Fool and His Money).

    As can be expected with any investment book penned by Mr. Lynch, a number of statements are either half-truths or are just plain wrong. First, Mr. Lynch adheres to his flawed definition of an investor (which he uses in every book)- anyone that buys stocks and only stocks. From this flows his conviction, boldly stated on page 122, "If you are long-term investor, ignore all the bond funds and hybrid funds (those that invest in a mixture of stocks and bonds) and go for the pure stock funds." Throughout the book, he takes a similar stance on individual stock versus bond purchases.

    Now, if you had not followed Mr. Lynch's brilliant and worldly wise 'investment counsel', you would have made pretty decent money in both high quality corporate bonds and US Treasuries (or even US Savings Bonds) over the last eight years, especially when compared against your peers who fully invested in stocks. Also, inflation, which Mr. Lynch (and many other scurrilous financial 'experts') uses to scare readers into buying stocks, was moderate during the eight year period, and we even had a spell of deflation at one point, thereby actually boosting bond returns. When all was said and done, it turned out that holding a combination of high quality bonds and high quality stocks out-performed total stock positions over the last few years.

    Yet another of Mr. Lynch's erroneous convictions is that investors (buyers of stock) are the vanguards of capitalism. This is a half-truth. In fact, speculators are the vanguard of capitalism, as they provide venture capital and implicitly assume risk. Investors on the other hand, that is, those enterprising souls looking for income with (reasonable) security of capital, only come in after the enterprise has proven itself in the marketplace.

    Thus, in essence, readers of this book receive good tutelage on how they too can become speculators, much like the 'stock operators' of the Roaring 1920s. Finally, the fact that the target audienc efor this book is young adults truly shocks me, as quite frankly, Mr. Lynch and others in the financial community are knowingly and purposefully engendering a nation of mindless, stock-buying drones hell-bent on gambling away their hard-won earnings, and their personal financial futures to boot.

    4-0 out of 5 stars Step One
    Good beginning book if you have never taken a business class in school or are brand new to investing
    Mr Lynch's advice:
    Start now
    Have a plan
    Do your homework
    Hang in there for the long term (a 20 year timeline)
    I suppose you could apply it to almost anything in life. Losing weight, studying a foreign language, or starting a business etc.
    This advice seems a little vanilla to me, however if you are just starting out this may be all you need.
    Buy this book if you are in stage one of your investment path. ... Read more


    8. Security Analysis: The Classic 1934 Edition
    by BenjaminGraham, DavidDodd
    list price: $50.00
    our price: $35.00
    (price subject to change: see help)
    Asin: 0070244960
    Catlog: Book (1996-10-01)
    Publisher: McGraw-Hill
    Sales Rank: 35504
    Average Customer Review: 4.37 out of 5 stars
    US | Canada | United Kingdom | Germany | France | Japan

    Book Description

    This classic book secured Benjamin Graham's status as a Wall street immortal. the carefully honed methods for finding undervalued stocks and bonds he described here have never been equaled, and have already outlived their author by more than 20 years. Even as Security Analysis has gone through five editions and nearly a million copes, you can learn time-tested investment secrets and strategies by going back to the source - THE ORIGINAL - and paying close attention to its wisdom. Written just five years after the crash, Security Analysis's message today is just as vivid, just as lucid, and just as vital as it was in 1934. ... Read more

    Reviews (35)

    4-0 out of 5 stars must read
    I just finished reading Grahm and Dodds Security Analysis, and
    was completely overwhelemed. If you can read this book, understand everything in it, and be able to apply it, you are golden. However, if you do not really have much background in finance and accounting, it will be VERY hard to read certain parts. As a college sophomore, who has not yet taken any finance or accounting classes, i was only able to understand and benefit from perhaps 50% of the books content. This is a book where after further education in finance and accounting, it will be absolutley essential to successful investing. Also, because of the year the first edition was written, certain terminology, and examples (ie railroads) will not seem useful, however the principles those examples demonstrate are still very much applicable.
    I would recommend reading the book to anyone who is interested in investing, however do not think it is something you can finish in a weekend or even a week. It took me a month.

    5-0 out of 5 stars Everything after 1934 looks suspicious
    Someone wrote reviews to this book indicating that the major downside to it is its age. The book was written in 1934 therefore it misses all the modern developments of finance - modern portfolio theory for example - and all the new techniques that Wall Street "experts" use today.

    As an answer I give an anecdote from Warren Buffett's life:
    When stock investments started to become popular, the volume increased ten fold, and the modern techniques to make a profit were developed, Warren Buffet was extremely worried. He remembered what happened in 1929. He loathed the new trends in investment that tried to predict the future price of a stock. Therefore he had a meeting with all his fellow Graham students, he expressly forbid to bring anything newer than the 1934 edition of Security Analysis.

    This happened decades ago, but history repeats. We all know what happened 3 years ago. We all know how "experts" thought that the market was booming, and how they let it crash. We all know how they made a profit on the money that private investors lost.

    Nowadays when I go shopping for a book I always look at the date of pubblication, if it is between 1997 and 2000 I'm very wary. All those books about "new economy", "digital era", "e-commerce", "dot coms", etc. have to be taken with the maximum attention. Usually they contain a lot of inflated ideas that as we look at what happened after they were written we understand how much those "experts" really understand about stock investments.

    If they were wrong then, why should they be righ now?
    Trust me, but more importantly, trust Graham, trust Buffett, (those that have been consistently right for 50 years) this is the book to buy, "anything newer looks suspicious."

    5-0 out of 5 stars Packed With Knowledge!
    A book that has been continuously in print for nearly 70 years obviously has timeless relevance. The principles of value investing, spelled out for the first time in Security Analysis by Benjamin Graham and David L. Dodd, have made fortunes for investors since it was first published in 1934. For example, Warren Buffett calls this book his Bible. Much has changed on Wall Street since the 1930s, but the concept of buying undervalued companies has not. In addition to its lucid explanation of investment basics, the book is a fascinating picture of a time when the lessons of the Great Depression were still being absorbed. The Securities Act of 1933 had just changed the rules of financial disclosure, and most public companies were manufacturers, mines, railroads or utilities - not the makeup of today's blue-chip portfolio. We recommend this book to serious investors who want to cut through modern Wall Street jargon, and to students of financial history.

    1-0 out of 5 stars ripping off graham and dodd
    In a moment of confusion, I bought the so-called "fifth edition" of Security Analysis ... what a scam! This almost unreadable text may be more "up to date" than the 1934 or 1940 editions, but it completely lacks the beautifully elegant prose of the original.

    The "fifth edition" is just another fat and overpriced textbook, taking advantage of the Graham and Dodd brand to sell a quite unrelated product. By all means, buy the classic written by the original authors (1934, 1940 editions), but stay away from this "fifth edition." It's really the "first edition" of something quite different and not very impressive.

    5-0 out of 5 stars Warning: Not Light Reading
    Just like Intelligent Investor, my only complaint here is that they should make a travel sized version so you can keep it with you all the time. This one is at a higher level than any other investment book out there, but it is difficult without being convoluted. If you work in investing and have never read this, you should be ashamed. Of course, people who don't read this book are the people who make the market inefficient (thanks guys!). ... Read more


    9. Buying Stocks Without A Broker
    by Charles B. Carlson, McGraw-Hill Harvard Business School Pr
    list price: $17.95
    our price: $17.95
    (price subject to change: see help)
    Asin: 007011501X
    Catlog: Book (1996-01-01)
    Publisher: McGraw-Hill Trade
    Sales Rank: 207385
    Average Customer Review: 4 out of 5 stars
    US | Canada | United Kingdom | Germany | France | Japan

    Book Description

    New edition of the bestseller that started thousands on the road to commission-free investing!

    It's been called "The investment guide Wall Street didn't want published," and it ignited the commission-free investment revolution! With Buying Stocks Without a Broker, Second Edition, Charles B. Carlson, CFA, thoroughly updates his unique guide to dividend reinvestment plans. Better known as DRIPs, these investor-friendly programs give you a safe method for buying stocks directly from issuing companies -- often with a discount and always without paying commission fees to brokers. If you want to own stock but resent paying commisions, you'll get the best of both worlds with this edition's...
    *Directory of 1000 DRIPs -- with brand-new, enticing DRIP opportunities
    *Thumbs-up/thumbs-down at-a-glance ratings of every DRIP on the market
    *New corporate profiles and performance ratings
    *New model portfolios using DRIPs
    *Charles Carlson's favorite DRIP picks ... Read more

    Reviews (11)

    5-0 out of 5 stars Excellent reference and guide for the $10.00 investor!
    This book explains, in detail, the biggest investment secret on Wall Street- Dividend Reinvestment plans. Imagine- buying stocks without brokerage fees! This book tells you how- exactally how. Buying Stocks Without a Broker is a must for every small investor's library. This book can help you get into the stock market with a MIMIMUM of capital, as it describes companys, like IBM, with investment requirments as small as $10.00 per investment. A warning though; as some company's programs change, information in this book becomes inaccurate. Always first check with the company of interest as phone numbers and contacts are included in the book.

    3-0 out of 5 stars Helpful for the novice investor
    This book was written before the likes of Ameritrade and E-Trade came along, and therefore is rather dated. The fees associated with most plans today and their minimum investments make DRIPs less attractive today then they were five years ago. However, for those who want to buy stock in companies and hold for ten or 20 years, they are worthwhile. Carlson writes in easy-to-understand language that a person not well-versed in Wall Street can grasp. Plenty of information on the company's listed along with telephone numbers and websites. Different kinds of portfloios are profiled so the investor can see what they can do with whatever funds they have to invest. The pros and cons of this kind of investing are listed so a person can decide if it is for them. It is a worthwhile read.

    3-0 out of 5 stars Helpful, But in Need of Updating
    I first purchased this book years ago, and I have to admit at the time it was a revelation. I was trying to buy stocks and usually failed to do so simply because I did not want to pay broker fees and I was rarely in a position to buy 100 shares at a time (if you bought less, the stock price and the broker fee both usually went up). Back then, the book was a great aid. I still own a stock list in the book that I purchased thanks to this book.

    But in many ways, this book has lost a lot of relevance. Now one can go online and purchase stocks in any amount with fees of as little as $3.00. And the fact that the book has not been updated since 1996 weighs heavily against recommending it be purchased by anyone today. Perhaps Carlson has not bothered to further update because of the ease with which stocks may eb purchased on-line.

    Still, for someone who is a long term investor, it provides some choices as far as investing without involving a broker. And it is definitely an option if you have no desire to use the internet to make stock purchases. Just be aware that your options are limited; most companies do not offer direct purchase of their stock or Dividend Reinvestment Plans (DRIPs) to the public at large.

    2-0 out of 5 stars Disappointed
    I bought the book hoping to learn a few more things about DRIP investing, and did not learn a thing! I am sure that the book was good when it was written (especially the first edition), but there is simply TOO much free information available today.

    I gave the book a sympathetic 2 stars because Carlson is (or was) the DRIP guru.

    1-0 out of 5 stars Waste of Money. Out of Dated Investment instrument
    I read this book and would say this is a non-sense book. Who would bother the hassle to read this book and buy stcok directly from a compay if an online transcation (e.g, datek, eTrade, etc) only costs you a tiny amount of money? The Price of the book allows you to execute two instant online transactions.

    Don't buy it. Please. I have already wasted my money. ... Read more


    10. Making the Most of Your Money
    by Jane Bryant Quinn
    list price: $30.00
    our price: $21.00
    (price subject to change: see help)
    Asin: 0684811766
    Catlog: Book (1997-11-11)
    Publisher: Simon & Schuster
    Sales Rank: 10885
    Average Customer Review: 2.38 out of 5 stars
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    Amazon.com

    Bestselling author Jane Bryant Quinn has revised and updated her classic 1991 primer on finance, Making the Most of Your Money, to prepare readers for the challenging fiscal atmosphere that she sees in the coming century. Written in her familiar, easily understood style, it starts out by helping you determine exactly where you stand on money matters and explaining basic money management techniques. Next, Quinn offers comprehensive discussions about insurance needs, home ownership, college funding, investment planning, and retirement. A useful series of appendices provides additional information on insurance, college, bonds, pensions, and more. ... Read more

    Reviews (176)

    2-0 out of 5 stars BORROW IT--DON'T BUY IT!
    I gave this book a 3 only for people
    who don't know beans about personal
    finance and like to read as a hobby.
    The information is way too basic and
    some is misleading i.e. her comments
    on stock splits. Quinn makes it
    sound like when a stock splits say
    2 for 1, you now have two five's in
    place of one ten. The truth is when
    a stock splits a tremendous amount
    of momentum and excitement is
    created --- it goes beyond a stock
    splitting,it's the amount of money
    that can be made during all phases
    of the split that makes investing in
    stocks that are splitting exciting. I saw similiar errors
    with insurance. home buying, mutual
    funds, credit etc, etc.etc. If you
    are curous, like was, you may want
    to read this. But don't take the in-
    formation too seriously and you'll
    definitely want to read some other
    financial books to get some real
    meaty financial techniques. My best
    advice---save your money and your
    time---READ SOMETHINGELSE.

    1-0 out of 5 stars Mostly 1970's advice
    The bulk of this book is just regurgitated information from a book that Quinn wrote back in 1979. The newest piece of information that I found were the new (ha-ha) Roth IRA's

    This book is really 180 pages of information fluffed out to 1,000 pages of mostly useless trash. The most useful stuff can be found on the internet for FREE. If you really want to read this book you can borrow it from your library for FREE. It will be there. This is not a hot book with a huge waiting list.

    I also found it amusing to see this book listed with Suze Orman's great book The Road To Wealth here at Amazon. No doubt this is just an attempt by Quinn to jump on Suze Ormans coat tails (just like she did with Venita Van Caspel in late 70's and early 80's)

    The Road To Wealth is an excellent book that has content which is also current by the way and Suze Orman has the credentials to boot. What credentials does Quinn have? I rest my case!

    Skip this book and buy The Road To Wealth, The Automatic Millionaire or something useful. You may also want to buy the original version of this book; Making The Most of Your Money by Ray Linder. JEESH QUIIN: You can't even come up with an original title for Gods sake!

    5-0 out of 5 stars Almost as Imporant
    As a companion book to "How to Make the Most of Yourself," this anthology can begin to reveal the other decisions of life that are important for everyone, and place in perspective the priorities we have, and those we make, and how. Usually leads to a comfortable life, if not always a happy one. Highly recommended for those who consider the deprivations of life as related to their finances and the power they possess rather than the satisfactions of life from other more elusive sources that cannot be spent but may be longer lasting and self fulfilling. Usually a help in making money!

    4-0 out of 5 stars This book has been valuable to me for eleven years.
    I originally bought this book called "Making the Most of Your Money" back in 1992 in order to help me with estate planning and general financial advice: I was only 24 years-old. That being said I don't know how Quinn could have stolen the title from Ray Linder's book since Quinn's original book was published before Ray Linder's book (1995).

    For the record, we have followed the advice of Quinn's original book. Overall our net worth increased substantially during the period 1999-2004 because we were diversified and we continued to invest throughout. We also saved around 15-20% per year: not as good as the 30% per year that another reviewer from Japan recommends, but still a decent amount considering we live in one of the most expensive areas in the U.S.

    I totally disagree with those who say that the 1991 version of the book pushes annuities and cash value insurance. My father-in-law who is a CFP and insurance agent always hated Quinn's advice because she recommended Term Insurance. We personally don't own any annuities, but our parents like them so maybe we'll invest in them in the future.

    I do agree with those who say you shouldn't rely on the book for detailed investing, estate planning, college savings, and insurance purchases. For that you should find a detailed up-to-date book on the specific subject that interests you and then consult a good CFP, accountant, or estate-planning attorney. There are a lot of things that have changed since 1991; as a result the book is out of date in many respects.

    In conclusion, the book was very helpful to me as an introduction to personal finance, estate planning, and purchasing insurance. It was a very good book when it was published 12 years ago. However, a lot of things have changed making the book out of date in specifics. But, I still believe that the general advice in the book is good.

    1-0 out of 5 stars Incomplete, confusing and boring
    From reading passagers of this huge tome by Quinn, it is all so obvious what she has copied from other financial authors...and what she has left out. In some areas Quinn rattles on and on buut never seems to get to the point. Somewhat like asking someone for the time and they try (incorrectly) to explain how a watch works and leaves you wondering; what the heck was that all about?

    Another problem is that this book is now about 8 years old. A lot of changes have occurred in personal finance during the last 8 years.

    Although the book looks intimadating by it's size, the real problem is how much is left out.

    I recommend Suzes Orman's excellent book The Road To Wealth in place of, not in addition to this book. Other good books to get you up to speed include 10 Smart Money Moves For Women, Smart Women Finish Rich and 9 Steps to Financial Freedom. ... Read more


    11. How to Make Money in Stocks: A Winning System in Good Times or Bad
    by William J. O'Neil
    list price: $10.95
    (price subject to change: see help)
    Asin: 0070480176
    Catlog: Book (1994-09-01)
    Publisher: McGraw-Hill Trade
    Sales Rank: 87164
    Average Customer Review: 4.1 out of 5 stars
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    Amazon.com

    From the school of unemotional investing comes the classic How to Make Money in Stocks, by Wall Street analyst and publisher William O'Neil. Readers new to securities will find it an excellent primer, one that relies on time-honored indicators such as quarterly earnings, market capitalization, and daily indexes. O'Neil's study of winning stocks stretches back to the 1960s, and he shares his insights here, describing what characterizes a growth stock, when to cut your losses (at 7 or 8 percent, no more), and how to spot a market top.

    The techniques in How to Make Money in Stocks are hardly revolutionary, but therein lies their strength, as O'Neil claims his is "a winning system in good times or bad." Investors interested in Net stocks might be disappointed--the author's first rule is that a company must show a pattern of growing profits, which disqualifies many dot coms. (TryRule Breakers, Rule Makers for a different take.) O'Neil's approach to stocks is, above all, rational, and he pays little heed to market hype.

    Those new to investing would do well to read this book before embarking, and even more seasoned traders may find How to Make Money in Stocks a refreshing return to basics. Markets may swing bull and bear, but O'Neil promises to stand firm. --Demian McLean ... Read more

    Reviews (158)

    5-0 out of 5 stars An excellent book for the beginner to moderate investor.
    This is an excellent book for someone starting out in investing. It teaches you WJ O'Neil's CANSLIM method of picking stocks.

    What's CANSLIM you ask? CANSLIM is a method of picking stocks developed by William J. O'Neil. He's taken his years of investing knowledge and developed a system of picking stocks that has repeatedly proven to be successful.

    The book takes you through each part of this method from quarterly earnings through annual earnings, when to buy, trading volume, stock leaders, institutional support and market direction.

    He also teaches you when to sell a stock even in a bad market. He'll show you how to cut your losses and why it's important to sell at the right time to prevent major losses on a stock.

    Finally he takes you through some of the best stocks in recent history and shows you how to read the signs that they put out. This will teach you how to recognize today's stocks that are ready to burst from the pack and soar to new highs.

    This book pushes WJ O'Neil's newspaper, Investor Business Daily, as it has much of the information needed to use the CANSLIM method. But even without his paper this book teaches you the methods needed to make money in the stock market.

    All in all I think this is a great book for investors.

    4-0 out of 5 stars The Book I Started Trading With...
    Ten years ago, this book probably launched tens of thousands of eager investors on a journey towards riches. Two years ago, it probably ruined thousands more. I'm not saying that O'Neil's methodology doesn't work. In fact, I have great respect for O'Neil and this book because it launched me on my journey into the markets just a few years ago. The only drawback is that this methodology works best in a bull market environment. When you hit a persistent bear market like we've seen for nearly 2 years now, you are basically sitting in cash spending endless hours looking for that perfect stock to break out of a long-term consolidation. If you don't have the time to search chart-after-chart every night for the perfect setup then you should try a great investment book I just heard about called the 401(k) MarketBuster. The 401(k) MarketBuster will probably find you the same, or better, account returns in the long-run that you'd find with intermediate-term trading; at a fraction of the research time (literally minutes a year). If you are like me and have the time and inclination to learn more about the markets so you can find that elusive "perfect" setup to trade (Lord help you), then you might want to take a look at Dave Landry's book on swing trading. It will offer you more opportunities more often.

    5-0 out of 5 stars The best you'll find.
    This is the best system you'll find anywhere. I originally worked as a broker for a firm that followed the Bill O'Neil philosophy and that firm made $$ for their clients consistently. Now I follow this system and trade for my own accounts with even better results. My last stock, TASR, was up roughly 100% (much more on margin) in one month and I found this stock by using the fundamental & technical analysis that I've learned through Investors Business Daily along with dailygraphs (www.dailygraphs.com). His strategy of cutting losses quick and letting winners ride is necessary to preserve capital and maximize gains. AAII (American Association of Individual Investors) rated this as the best performing strategy over several years period.

    4-0 out of 5 stars sparse on some concepts, but relevant in bull markets
    First, I would have to comment that the criticism about IBD as a normal newspaper is unfair. Its analysis and opinions are encapsulated in the numbers, systematically compiled for any common stocks worth considering as investments. Any individual investor would see that at one dollar, IBD is a bargain. "How to Make Money in Stocks" is the guide to understanding the ratings of IBD, as well as a clear introduction to O'Neill's investing philosophy. The prevailing market conditions are very important to the success of CANSLIM, and reviews of the book written in the depths of the 2000-2002 stock funk may be colored indeed.

    I, too, had some questions about "pivot points," etc. that seem sparsely described. This is because you are supposed to look at the charts. If this isn't enough, look at more charts (the book has plenty). "Pivot points" and "accumulation" are not exact concepts, so one has to practice looking at the chart and acquire an understanding of these concepts. "How to Make Money in Stocks" is one of those rare books that relies on the graphical presentation of data as much as copy writing to communicate its sometimes fuzzy ideas.

    This book is superb at describing the CANSLIM method on analysis, which can be done these days with free internet sources. An excellent description for novices of investing research.

    My advice would be to pick up this book, read it, buy a copy of IBD, and keep track of ten or so stocks for 60 days or so. If the market goes up and these stocks don't, look for a better method. If you need more comforting words in the newspaper to guide your money decisions, drop this stuff and hire some investment professional.

    5-0 out of 5 stars Invest comfortably
    I have been investing in the stock market since 1998. I've made my share and lost my share. However, it was always a chaotic affair. I wasn't investing based on anything solid, it was just going with the market. Besides who could lose in the 90's? Then came 2000 and 2001.
    Lucky for me I ran into this book and let me tell you something, it has made me comfortable with the way I invest. I don't need to keep up with the market every minute and I don't stress as much. I also understand better how to read graphs and how to interpret market activities. A book well worth it.
    It does mention the Investors Business Daily paper a lot because they publish it but it's a worthy paper also so I don't see anything wrong with that. ... Read more


    12. What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time
    by James P. O'Shaughnessy
    list price: $29.95
    (price subject to change: see help)
    Asin: 0070479852
    Catlog: Book (1996-08-01)
    Publisher: McGraw-Hill
    Sales Rank: 459176
    Average Customer Review: 3.63 out of 5 stars
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    Amazon.com

    Investors -- be they aggressive or conservative, self-directed or professionally managed -- are always on the lookout for an edge. And in James O'Shaughnessy's What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time, they'll find a solid one: authoritative analysis of popular practices from the past. The author examines three decades of stock market data to show how 15 of the most common investment tactics have fared over time. ... Read more

    Reviews (49)

    5-0 out of 5 stars Buy value sell fashion, winners win and losers lose.
    What Works on Wall Street? According to a study of 45 years of stock market data in a book called "What works on Wall Street" by O'Shaughnesy he came to the conclusion that some strategies would have produced greater returns than the S&P 500 whilst others produced less. He tested a range of strategies, re-balancing the strategies annually, with each strategy involving the 50 stocks which met the criteria for inclusion.

    The worst strategy that you could have adopted was to buy last year's losers each year. The message is clear - losers carried on being losers. Sometimes the weak beats the strong, but it's not the way to bet your money.

    The next ten worst strategies involved buying Companies on high multiples such as high price to sales ratio companies. These companies were generally on high multiples because they were thought to be high growth or sexy companies with lots of potential. They were the then current stock market darlings that investors were prepared to pay up for in order to join in with the latest investment fad or fashion.

    As far as the best performing strategies are concerned, he found that the top 6 strategies all involved buying companies with high relative strength in combination with a value factor such as low p/e or low price to sales ratio. These companies were generally on low multiples because they were in out of favour sectors or old economy share that had been overlooked. By combining it with high relative strength (i.e. shares which were rising), these strategies caught those shares whose under-valuation was finally starting to be recognised by the market.

    The book found that over long periods, adopting the following rules would have proved to be more profitable than buying the S&P 500: Low price to sales stocks out-perform the higher p/s stocks. Low price to cash flow stocks do better than high p/cfl stocks. Low price to book stocks tend to perform better than high p/b stocks. Other conclusions reached in the book are as follows: Price to sales ratio is the best single value ratio to use for buying market beating stocks. Last years biggest losers are the worst stocks you can buy. Last years earnings gains alone are worthless when determining if a stock is a good investment. You can do four times as well as the S&P 500 by concentrating on large well known stocks with high dividend yields. Relative strength is the only growth variable that consistently beats the market.

    Buying Wall Street's current darlings with the highest price to earnings ratios is one of the worst things you can do.

    Other lines from the book: Growth investors believe in a Company's potential and think a stock's price will rise with its earnings.

    Value investors believe in a company's balance sheet, thinking a stock's price will eventually rise to meet its intrinsic value.

    The S&P 500 tracker strategy is a strategy making disciplined bets on large cap companies. This strategy is just one of hundreds of strategies which could exist. For example another strategy might be to measure the performance of all stocks that begin with the letters h,l,m,n, and p. There are many other strategies which have given higher returns in the past than the S&P 500 strategy, some for no logical reason, others with a certain logic. Examples of logical strategies include a disciplined small cap strategy, or a disciplined low price to sales strategy or a disciplined high yield strategy etc. Some of those strategies also performed more consistently than the S&P 500 strategy, ie with less risk.

    For example if in the 1950s the editors at Dow Jones had decided to revamp the index buying the 50 stocks with the lowest price to sales ratio, then the Dow Jones Industrial Index would be at 4 times the level of today.

    People want to believe the present is different from the past. The price of a stock is still determined by people. As long as people let fear, greed, hope and ignorance cloud their judgement they will continue to mis-price stocks and provide opportunities to those who rigorously use simple time tested strategies to pick stocks. Names change, industries change. Styles come in and out of fashion, but the underlying characteristics that identify a good or bad investment remain the same.

    4-0 out of 5 stars Statistics you can't afford to ignore
    The author went through the Compustat database to study the effects of eleven financial ratios on a hypothetical portfolio that was rebalanced once a year. The financial ratios or parameters are: market cap, price to earning, price to book, price to cash flow, price to sales, dividend yield, 1 year earning's growth, 5 year earning's growth, profit margin, return on equity, and price momentum. The study spans over 45 years. For each parameter he reports the portfolio return by year, and the return's arithmatic mean, standard deviation, geometric mean, Sharpe ratio, and how often it beats (or conversely underperforms) the broad market.

    He then studies performance of portfolios that combine high or low values of several of the above financial parameters. And he does present some very interesting and useful results here.

    Arguably one must already have some familiarity with various stock picking strategies, and some comfort with statistical analysis, to profit from this book. The book has two main weaknesses: (1) The author gives no reason to believe that the past performance will indeed guide future performance, and (2) The author gives no information on the turnover encountered by each portfolio strategy. Hence unless your investment portfolio is limited to your retirement account, you don't know whether following the conclusions from this study will really make you additional AFTER TAX money, compared to a low turnover S&P500 indexing strategy.

    Nevertheless the book presents ORIGINAL reliable and FACTUAL informaion regarding how the US market behaved between 1951 and 1996. That in itself makes it more useful than most investment books. If you happen to be serious about investing in stocks, you simply can't afford to ignore these results.

    4-0 out of 5 stars Common Sense Leads To Un-Common Performance !!
    James O'Shaughnnessy's book is the latest to engage the Age Old Question: growth stocks or value stocks? Instead of focusing on those 2 sectors specifically, he meticulously looks at the multi-decade history of various metrics -- price-sales, price-book, price-earnings, etc -- in making sound investment decisions.

    The books major highlights are as follows:

    (1) A bent towards small and microcap stocks, particularly value-oriented stocks, works very well. Buying microcaps is difficult for institutions but NOT for most individual investors.

    (2) Price-sales is underused as a method for finding good (value) stocks and market-beating performance.

    (3) Price-earnings and dividend yield are also good indicators, especially in the context of larger cap stocks.

    (4) Value edges out growth. (NOTE: The starting and ending points for measuring long-term cycles are so important that changing the dates by a few years can often reverse the results. While value stock investing might have a slight edge in the time frames studied in "What Works On Wall Street", keep in mind that depending on where growth and value stocks are in their respective cycles when you decide to invest is very important to your portfolio choices. For instance, after a big value runup, growth stocks often outperform for a decade or so.)

    (5) Using more than 1 metric is important in helping outperformance while reducing risk/volatility.

    The book has tons of data and backs up its claims well. Keep in mind, this book was published in 1998 with the data going through 1996. Had the data stopped at 1999, the results would have looked VERY DIFFERENT! And, of course, had it been updated through recent years, different again.

    All in all, a very worthwhile book, though you can get lost and immersed in so many numbers at various times that you forget "the big picture" which thankfully O'Shaugnnessey repeats often enough to make sure the reader comes away with the basics.

    3-0 out of 5 stars Take with a grain of salt...
    The key findings of O'Shaughnessy are the slight superiority of returns for small cap stocks and larger excess returns for value stocks, and therefore the combination of both is ideal.

    Of course, Ben Graham said this 70 years ago but approached the topic from the bottom up, while this book analyzes top-down.

    I would however steer cleer of his idea about relative price momentum that he claims does 18.11% a year. Note that O'Shaughnessy started several funds, which did absolutely miserably and then he jumped ship having made a small fortune in book sales.

    Read this book, but read Graham&Dodd as well.

    3-0 out of 5 stars Better than "How to Retire Rich" but not much better.
    This book is for long term investors who want to rotate their portfolios once per year. Basically the author looked at several strategies ranging from low p/e's to high annualized growth rates and everything in between. He back tested the strategies from 12/31/1954-12/31/1996 he then would purchase the bottom 50 and the top 50 for that screening category and ranked the results. The highest strategy was Price to Sales ratio under 1, with high relative strength, this strategy returned a compound interest of 18.62% over the 45 year time span. Thus a $10,000 investment would become $12,999,698!

    Now if I were you I'd just go to the library and check out the book since only the results are really the important part of the book.

    Reed Floren ... Read more


    13. Ask the Headhunter: Reinventing the Interview to Win the Job
    by Nick A. Corcodilos
    list price: $14.95
    our price: $10.17
    (price subject to change: see help)
    Asin: 0452278015
    Catlog: Book (1997-08-01)
    Publisher: Plume Books
    Sales Rank: 44343
    Average Customer Review: 4.5 out of 5 stars
    US | Canada | United Kingdom | Germany | France | Japan

    Reviews (44)

    5-0 out of 5 stars A Very Compelling And Focused Job-Search/Interview Tool
    The majority of career books advise you to send out dozens of resumes, take a passive role, and then practice hundreds of "tough questions" to win the job in the interview. Few books have ever discussed the real objectives of the hiring equation: Can an applicant do the actual job? How can this be determined during the interviewing process? What is the best way for a candidate to demonstrate that they can do the actual job? Mr. Corcodilos has solved the equation with his focused and enlightening advice.

    Most of the techniques in this book are unconventional. But as the author stresses, being different works in the ruthless hiring game. The author forces you to examine yourself, focus your search, and concentrate on only a few jobs and companies. His most compelling advice is to do the job in the interview itself. Most of us have never been taught the importance of this simple yet powerful technique. "Do the job in the interview." It is the mantra of this book.

    It is rare for a headhunter to share the secrets of his success. But the author strongly believes in his philosophy, and graciously shares it with us. After reading this book, your perspective of the hiring process will be altered drastically. That alone might be the most salient feature of this tremendous work.

    The subjects discussed in this book will make you a more attractive candidate, along with a better interviewer. You will learn how to target your job search, and to focus on what you do best: your work. Regardless of which side of the desk you find yourself, this book should be required reading. As an applicant, you will learn strategies to make you stand out from the crowd. As an employer, you will learn to make more informed hiring decisions, and to reduce the chance of a costly mistake. This book is a powerful tool.

    Thank you for the opportunity to review this book.

    5-0 out of 5 stars Do you want a COMPETITIVE ADVANTAGE in your next interview?
    Nick Corcodilos, the author of 'Ask the Headhunter', has taken job hunting to the next level!

    Maybe I'm totally naive when it comes to job hunting (well, at least not anymore), but this book changed my entire mindset on the conventional methods of seeking employment. To cut directly to the chase....

    THE NEGATIVES:

    * Some of his writings get really redundant. He's trying to drive home a point, but too excessive.

    * His method could leave you spending weeks if not months preparing and researching information just for one company; Especially, if you are changing careers or a recent college graduate seeking employment in an industry you're totally unfamiliar with.

    THE POSITIVES:

    * Easy to read. I like that!

    * Will this book help you get the job you are seeking? - Without reservation nor hesitation, if you follow the method Nick has outlined, your probability of success is greatly enhanced. The real question is 'how could you not?' (beware of personnel jockeys)

    * The 'added-value' to this book where the others leave off is simply the difference between SHOW & TELL in your 3rd grade elementary class (showing was always more interesting, huh?) Where the other books will TELL you how to get the job, Nick will SHOW you how to DEMONSTRATE your abilities to DO THE JOB in the interview.

    Mark Fredricks

    5-0 out of 5 stars Extraordinary!
    This work reveals an extraordinary approach that shows us the simple ways to always stand out from the crowd.

    5-0 out of 5 stars An Honest Book for Jobhunters
    The book Ask the Headhunter by Nick Corcodilos can best be described as an honest book; it has done some plain speaking. It should be admired for novelty of style and for propagating proactive and revolutionary ideas in job hunting. It reflects originality of approach to job search; and is conceptualized on hard realities and not imagination and fantasy. It reinvents the concept of interview and explores how it can be used in securing the right jobs and hiring the right candidate. It exhorts job hunters to refrain from gimmicks or perfecting any meaningless interviewing skills. The reader gets provoked into re-examining the interview clichés and stick to responding to the exigencies of the job. The central message of the book should also be viewed as indirectly communicating the changing hiring practices that are being resorted to in the new corporate world. In nutshell, the book helps the jobseeker in many respects including: discovering the job that best suits her disposition, assessing the requirements of the employer, the "how" of taking control of the interview so as to compel the employer to hire her, bargaining the best possible deal, and appreciating issues related with these points of key focus.

    In its efforts to focus on some plain speaking, the book contains a good bit of hard-hitting advice. It has succeeded remarkably well in exploding several myths about job hunting and in expounding a new approach to winning job offers. It has tremendous potential of becoming perhaps one of the finest job search books emphasizing ways to get jobs on merits. Of course, it may not be of much help in situations where suitability of job seekers is decided by incompetent or unmotivated and unprepared interviewers, and also where jobs are fixed and pre-decided on extraneous considerations no matter how talented, competent or fit the job-seeker is. Such practices can be seen even in some private sector organizations where the hirers fear talent and innovate ways of finding pretexts for rejecting them so as to hide their own weaknesses and incompetence. Candidates seeking jobs with such employers may therefore need standard how-to books on perfecting the traditional interview skills, along with mastering effective ways of lobbying to get jobs. But as organizations move towards greater degree of transparency and sense of professionalism in a real sense in their working including hiring practices, they will be guided more and more by considerations of merit and purposiveness. Job seekers and employers whose considerations are delivering their best and employing the most suitable will benefit immensely by following the prescriptions and messages contained in this book. It is also interesting to note that the author's website (asktheheadhunter.com) permits access through free membership, and provides a "free sample" of the Ask The Headhunter concepts

    5-0 out of 5 stars Nicky Knows The Score
    Got to hand it to you, Nicky baby! When it comes to the REAL WORLD, You know the score! All these negative reviews are from people who have their heads buried in the sand.

    To you readers out there, let me put it bluntly. You can go on doing what you've been doing, sending out thousands of resumes with no results, or you can do the HARD WORK that Nicky tells you to do. If you're not willing to do that, don't blame Nicky if you get bupkis in return.

    Nicky, You the Man! FIVE STARS! ... Read more


    14. The Motley Fool Investment Guide: How the Fools Beat Wall Street's Wise Men and How You Can Too
    by Tom Gardner
    list price: $13.00
    (price subject to change: see help)
    Asin: 0684827034
    Catlog: Book (1997-06-02)
    Publisher: Fireside
    Sales Rank: 330915
    Average Customer Review: 4.02 out of 5 stars
    US | Canada | United Kingdom | Germany | France | Japan

    Amazon.com

    Should you let a Fool tell you where to invest your money?If he's aMotley Fool, the answer is a resounding YES!David and Tom Gardner launchedthe most successful investment information service ever to grace cyberspace,and now they show you how to beat the market, even if you don't know adividend from a divining rod.With this guide, you'll find out how theinformation revolution can put money in your pocket. ... Read more

    Reviews (100)

    4-0 out of 5 stars Finally, an investment guide for normal people
    Dave and Tom have created an immensely readable and informative book for the average Joe who wants to learn how to invest in the stock market. Their liberal use of humorous examples makes the book hard to put down. They explain why mutual funds are usually a bad choice, how to do your own research, how to avoid sky-high commissions, how to do your own research on companies, the difference between fundamental analysis and technical analysis (and which one is basically worthless), and even how to make money in a bear market (yes, it can be done, and it's a lot easier than you might think). Overall, if you are looking for a simple and fun explanation of how to get started in investing, you can't possibly go wrong with this one.

    5-0 out of 5 stars Foolish, in the Very Best Sense
    So, are you young enough to be looking at 10 to 30 years ahead of you to cosset your investments into something bigger than a breadbasket? Are you, at the same time, flush enough to have (perhaps after a few years of scrimping) 25 to 50 thousand dollars that YOU DON'T NEED? Are you comfortable with numbers? Can you, or can you learn to, look annual reports and financial statements in the face without flinching (or glazing over)? Does making an average of 15 to 20 percent per year on your portfolio over the long haul (for the ride may be bumpy, with some dives as well as climbs) sound sufficiently enticing? Do you have a day job that you intend to keep? Do you have a life outside of playing the market that you intend to live? Then, and only then, this could be the book for you!

    I love these guys. They're a couple of fresh-faced young men, brothers, who treat investing seriously, but that doesn't mean somberly. The first chapter or so of this book was so jokey I thought the ratio of matter to chatter was going to be about 1:1, but they got down to business, as it were, soon enough.

    Their basic point is that anybody who is willing to do some work looking at the fundamentals of companies can find some to invest in and, usually, stay with, that will significantly outperform the market. A person can build a portfolio of stocks that will beat the Dow, or the S&P 500, by several percentage points every year. Since the market, overall, is rising at 10 or 11 percent (ok, bad year to convince you of THAT) annually, over the long haul this 15 or 18 percent compounding of one's portfolio can lead to significant gains.

    And the lovely thing is, most of these are tax-deferred, since only the dividends of stocks that you hold are taxed, and the plan is to hold your stocks, not to churn them. If you do your homework well you should have stocks that you stay with for years - perhaps even leave to your loved ones, who will therefore treasure your memory.

    Yeah, yeah (I can hear you muttering): "willing to do some work"? Well, yes. YOU CAN'T GET AROUND IT! You have to crunch a few numbers, but it's fifth-grade math (some long division is required). You have to get cozy with financial statements. It'd be nice, moreover, if you understood something of what the company you want to own a chunk of does for a living (it might become YOUR living!), and some of the high points of its spectrum of the economic universe.

    The brothers will introduce you to some good ideas, and puncture some bad ones. They demonstrate why small caps are so great for the individual investor, for example. They tell you when, with impeccable logic, it is a bad idea to short a stock (even a stock about to plummet). They talk turkey about the real costs of trading - the commissions AND the spread. They quickly demolish the allure of day-trading. They campaign tirelessly for honesty and transparency in investment advice, and point out the problem with almost all mutual funds (except for the index funds, which they like, but just not as much as individual stocks).

    Oh, and they run a web site, which no doubt nets them a few bucks, which I certainly don't begrudge them. They are for power to the people, online power to the upwardly-mobile investor-class of people, anyway. (Hey, you have to start somewhere!)

    Mostly, this book is inspirational. It's message is that you, the ordinary Joe or Jane, can put away a few bucks and then invest it intelligently. If you're not using the rent money, and if your time horizon is meaningful - 10 to 30 years - you can come out the other end with a real, honest-to-goodness nest egg. This is NOT a book about making quick profits, or getting wealth without work. It DOES say that it doesn't take too much work, and it does take several years, but that if you apply yourself, and hold the course, you will do better in the long run than all the fund managers in the financial industry. But more importantly, you'll do well. Also they start the book with a snippet from one of my favorite poems, so I have to trust them!

    4-0 out of 5 stars Good intro for wannabee Fools
    This book is pretty good for first time or novice investors, the Gardner brothers discuss the advantages and disadvantages of different investment methods most notably: mutual funds, index funds, and stocks. Also it seems these Fools (yes they like to be called that) like investing in Dow stock, much of their information regarding Dow stocks appears to come from Michael O'Higgins author of Beating the Dow. Another method that the brothers introduce is one of their own for picking out small cap growth stocks, here's what they look for:

    Sales of less than $200 million
    Daily Dollar Volume of $3 million or less
    Low Price $5-$20
    Net profit margin of 10% or more
    Relative Strength (IBD) of 90 or higher
    Earnings and sales growth for the most recent quarter of 25+ or more
    Insider holdings of 15%+
    Cash flow from operations should also be a positive number

    This book is primarily aimed at beginning investors who want to hold growth stocks for a year or more, however a lot of this book is focused on them talking about their website www.fool.com

    My favorite part of this book would have to be the chapter on Zeigletics: The Penny Stock That Never Was.

    Reed Floren

    3-0 out of 5 stars Decent Investing Primer, but not much more
    The Motley Fool Investment guide by the Gardners was a fairly interesting primer on the subject of investing, with a particular emphasis on stockpicking. However, that is ALL you should take it as. It should merely be viewed as ONE type of overview of the stock market that may or may not be valid under current market conditions.

    Note: Beginning investors should be very wary of following the strategies outlined in this or ANY investing book with any significant sum of money. Run a simulation portfolio and test out the validity of these methods before you plunk your hard earned cash into some particular system. Be warned. My opinions may sound very negative and you may be at a loss of confidence, but I do believe you'd rather take a beating in your emotions before you take one with your portfolio.

    Now, overall, the book offers some nice stratagems for newer investors and is written in a very friendly style to keep people interested. The book is laced with the Gardners' personal style of humor(which I wasn't particularly fond of), but they did manage to keep the book fairly light-hearted and easy to read. With that said, I believe a key flaw of this book is that it makes achieving market-beating returns seem fairly easy.

    Would it be feasible to believe that anyone could suddenly start playing NBA quality basketball were that person to read and follow some simple exercises in a book entitled "Play Basketball like Michael Jordan"? How about "Tiger Woods in 20 Minutes"? Yes my friends, it is very possible to play pro ball by doing my secret exercises for only 20 minutes a day, because in my new book, I have outlined some very secret and powerful methods that will make your growth in talent and muscle EXPLODE! *cue slightly altered techniques found in a basic exercise manual wrapped around in clever and seductive writing.

    The notion that someone can play professional, all-star level ball by reading a book and following simple exercises would quickly be dismissed as utter BS. But in the world of investing, 'secret methods,' 'the methods of the pros,' etc. etc., always seem to entice new investors into buying a $15 manual to learn the secrets to beat the market. Maybe Peter Lynch can get by on beating the pros by looking at investments only a few hours a week because his decisions are built on experience... It may be easy for a professional bodybuilder to lift 350 lbs, but does that mean the average man can expect to do the same? To suggest that the newcomer can beat the pros by spending only a few hours a week and using a very simple system sounds quite like the 'pro ball' scenario, no?

    You certainly won't get consistent market beating returns by following the very scanty guidelines offered in this book. Another area of fault with the book is that, at times, it seems like you've just spent your hard-earned money on a big advertisement. The constant plugging of their website is extremely annoying to say the least. It almost seems as this book was geared to get you to join their website.

    With all of that said, the book offers a decent, easily followed write-up of long term investing fundamentals. It's a nice overview of the subject of investing, and beginners will learn some good lessons, but by no means should they believe that by reading a couple of investing books and following the simple guidelines within should they expect to beat the market over the long-term. There's a reason most mutual funds don't consistently beat the market over the long-term. And no, it's not because the majority of mutual funds are run by complete dunces (some of you may tend to disagree). The objective of obtaining market beating returns isn't nearly as easy as it seems.

    1-0 out of 5 stars this book is bad
    The information contained in this book has been discredited by lots of academics and yes, even by the Gardner brothers themselves. Don't buy this or any of their terrible books. ... Read more


    15. The Money Masters
    by John Train
    list price: $15.00
    (price subject to change: see help)
    Asin: 0887306381
    Catlog: Book (1994-09-01)
    Publisher: HarperBusiness
    Sales Rank: 414418
    Average Customer Review: 4.25 out of 5 stars
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    Book Description

    Here are insights into nine of the most successful investors of our time --Benjamin Graham, Warren Buffett, John Templeton, and Philip Fisher, among others. In these fascinating profiles John Train reveals the unique investment styles that have made each a master: the traits that distinguish them from the crowd and the techniques that create the single characteristic unifying them all -- consisently profitable investments. Their methods, Train reveals, include those both the nonprofessional and the seasoned investor can apply for profit. ... Read more

    Reviews (4)

    4-0 out of 5 stars Good read but nothing mind blowing
    If you want to read a concise book about the investment styles and philosophies of historic "golden age" investors this book might be the one for you. Any student considering asset management as a career should read this one as well as The New Money Masters, its counterpart that highlights investors post 1975 or so.

    I would encourage everyone to understand the difference from this book and its latter brother, the NEW MONEY MASTERS. This book is primarily focused on investors that became household names via the companies that are their legacy such as T. Rowe Price, John Templeton and Warren Buffett. Other notable investors are Paul Cabot, Philip Fisher, Benjamin Graham, Stanley Kroll, Larry Tisch, and Robert Wilson. If you want to know how the experts do it, this is a great anthology to get you started. Listen to the best and forget the rest!

    Both of Train's books are in the form of interviews he has with them. Train's writing is crisp and entertaining, and his interviews uncover many pearls of wisdom applicable to any investor's philosophy.

    The Money Masters covers the origins of the value and growth philosophies of investing that many managers practice variations of today. The sections on Ben Graham and Sir John Templeton both outline the development of the fundamental approach to valuation as well as its original application in stock markets throughout the world. Phil Fisher and T. Rowe Price represent the two most celebrated proponents of what has come to be known as the growth strategy, adding the additional rigor of another layer of criteria to the value-style approach. Warren Buffett stands as one of the first great synthesizers of the ideas of both Graham and Fisher, while other investors like Larry Tisch represent variations on one particular strand, in Tisch's case that being value-investing.

    If anyone is interested in books on the people behind the financial industry read Money Masters, New Money Masters, Predators Ball, Money Culture, Den of Theives and F.I.A.S.C.O. 25 Investment Classics and Goldman Sachs: the Culture of Success are other notable books. I gave the book 4 stars because; while it was very concise and well written I didn't find any information within the book that was of great help to me. It was entertaining and informative but not ground breaking or made me say "AH HAH" or have that light bulb go off in my head.

    5-0 out of 5 stars perhaps the BEST get started primer on investing
    Perhaps the best place to start learning about investing. Read the conclusions first, then read the book, then re-read the conclusions. Peter Lynch said he read this book 3 times. I have read it probably 5 times over the years (Lynch may have caught up by now). I would give this more than 5 stars if I could. After reading the Money Masters, then you may be ready for The Intelligent Investor (Graham), A Random Walk down Wall St (Malkiel), & Where are the Customers Yachts (Schwed). then start investing for real. VERY readable, VERY enjoyable, BEST insights.

    3-0 out of 5 stars Surprisingly Thorough Compendium
    I studied Ben Graham, Warren Buffett and Phil Fisher fairly carefully and came to this book after the fact. And I was surprised how thoroughly John Train neatly encapsulates the approaches of these investment masters. The chapter on Ben Graham may in fact be the definitive place to start one's study of this great thinker's initially intimidating body of work.

    I'd give the book 5 stars, but the author sometimes uses finance terms loosely when clarity is absolutely critical (when he's describing key financial insights). For instance, in the chapter on Warren Buffett, Train notes that one of the ways Buffett distinguishes winners from losers via the balance sheet is to make sure payables are more than offset by receivables. Train's description appears to provide a key insight, but it's vague to the point of being meaningless. (He does it again in his follow-up book THE NEW MONEY MASTERS when in a discription of how Train's firm estimates approximate growth in unit sales from financial statements, he writes that he multiplies "the retained operating margin on sales and the turnover rate of gross operating assets.")

    5-0 out of 5 stars An excellent primer
    The Money Masters by John Train describes the winning strategies of nine excellent investors.  The investors described include:Warren Buffett, Paul Cabot, Philip Fisher, Benjamin Graham, Stanley Kroll, T. Rowe Price, John Templeton, Larry Tisch, and Robert Wilson.  If you want to know how the experts do it, this is a great anthology to get you started. Listen to the best and forget the rest! ... Read more


    16. The Dividend Investor: A Safe and Sure Way to Beat the Market with High-Yield Dividend Stocks
    by Harvey C., III Knowles, Damon H. Petty
    list price: $24.95
    (price subject to change: see help)
    Asin: 155738892X
    Catlog: Book (1995-03-01)
    Publisher: Probus Pub Co
    Sales Rank: 479865
    Average Customer Review: 5 out of 5 stars
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    Book Description

    Clearly written, The Dividend Investor comes complete with a step-by-step method to implement the strategy, as well as detailed research on the long-term performance of dividend-yielding stocks. It provides investors with a safe and effective system for beating the stock market. Specific topics include: The foundations of dividend investing; The mechanics of dividend investing; A high-yield strategy to beat the market; Why dividend investing works; How to make money in a bear market. ... Read more

    Reviews (1)

    5-0 out of 5 stars At last, a reasonable "how-to" investment book.
    Most investors want a simple formula for making reasonable gains in the stock market. The authors have done just that. Early in the book they tell you what their five simple steps are (in one paragraph) then proceed to explain why their method works. My only criticism is that the book is 1/3 text and 2/3 performance tables backing up their research. Does dividend investing work? My stock portfolio has beaten the S&P 500 for the last 2 years since I began using their technique. ... Read more


    17. One Up on Wall Street: How to Use What You Already Know to Make Money in the Market
    by Peter Lynch, John Rothchild
    list price: $13.95
    (price subject to change: see help)
    Asin: 0140127925
    Catlog: Book (1990-01-01)
    Publisher: Penguin Books
    Sales Rank: 363944
    Average Customer Review: 4.61 out of 5 stars
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    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. ... Read more

    Reviews (102)

    5-0 out of 5 stars Be smart and BUY this book!
    This is the first book I ever read on investing. My cousin, Paul, who was a broker at Merrill Lynch, recommended it to me. I followed Paul into the financial services industry, toiling 12 long years peddling stocks, bonds, mutual funds and insurance products. During my tenure as a Wall Street professional (I use that term very loosely), I must have read 200 different books on investing. Oddly enough, I have discarded many of those poorly written investor guides and still refer back to this classic book penned by Peter Lynch, mutual fund demigod, investment guru, stock-picking legend!

    At the heart of Lynch's case is that each individual has enough inherent knowledge and experience to be a successful investor. He uses numerous analogies to show investors:

    1. The power of common knowledge (take advantage of what you already know) 2. You don't need to be a Wall Street analyst to uncover great investment opportunities 3. You are not disadvantaged vs. large, institutional investors You don't have to accurately predict the stock market to make money in stocks 4. To keep an open mind to new ideas

    From my years on Wall Street, I found many of his theories and ideas to be completely accurate. Many other books I have read focus on the inherent evils of the possessed financial consultant community. Yes, the industry has its problems. However, $8 stock trades are not the only ingredients in profitable investing. In fact, I don't recall him emphasizing the need for discount trades, a fact over-emphasized in almost every other book I have read (remember, I am no longer in the industry...I don't need to strike a case for broker commissions). Instead, he shows you what information to focus on and how to apply it.

    Do yourself a favor: Buy this book. Read it twice. It is not outdated...it is timeless. Yea, I know, you already know it all. My advice is to lose the ego and take a refresher course on common sense investing. When you finish, put it on your bookshelf. Do not give it to your kids or neighbors; buy them their own copies. This is a great book!

    5-0 out of 5 stars A Capital Read!
    I borrowed my copy of "One Up On Wall Street" from a friend who is a longtime professional equities investor. He received this gift as recommended reading from a veteran investment analyst he knows. While Peter Lynch has written an easily comprehendible advice book on common stock investing - very much written in layman's terms and without emphasis on industry jargon - the principles he puts forth are fundamental and worth reviewing by anyone, amateur or pro.

    Within the 300 pages of this book, Lynch outlines a useful rubric against which all stock selections might be measured. His stocks fall into six categories: Slow Growers, Stalwarts, Cyclicals, Fast Growers, Turnarounds and Asset Plays. Screening, buying and selling advice are outlined for each of these six flavors, although nothing revolutionary (eg., Sell a slow grower when the dividend is unattractive.) He delivers a wealth of the basic analytical tools (well, more like rules of thumb) for stock research, explaining price earnings ratios, the import of tax loss carry-forwards, goodwill accounting, inventories, and other basics of P&L statements and Balance Sheets. It's a pocket guide financial course for those who may have slept through Accounting 101.

    Lynch urges stock pickers to do their homework, and suggests the regimen of a "Two Minute" drill, whereby an investor can recite a brief monologue of reasons for selecting a security: Reasons for selection, what the company needs to do to succeed, and pitfalls that stand in the way. Obviously, this is not a book for the technicians or chartists. Nor even speculators, as Lynch reminds the reader that his "ten-baggers" or "forty-baggers" all come as a result of having held at least three to four years.

    Quite a bit of the book carries a populist bent. There is plenty of advice to pay more heed to what's happening in the local shopping mall than to investment brokers ("oxymorons"), and to avoid stocks with exotic names or that may have been whispered to be hot. Of course, we've all been aware of this, and we're all wealthy and drinking daiquiris on the beach now, right?

    In sum, it is worth the investment of the few hours it takes to swallow this information. At worst, it is an entertaining look at some high-fliers the former Magellan manager scored with, but at the very least it serves as reminder that basics need to be followed, and nothing works as well as solid research, good discipline and old fashioned hard work.

    5-0 out of 5 stars For financial analysts to be!
    I first read this book as an "assignment" when I started working as a financial analyst in 2000. The book is well written, and offers a lot of insights and tips that are applicable to analyzing companies and stocks. Most of the stuff here are very applicable to my work, and even offers examples that can be emulated by any investor/analyst. To date, I still practice most of the philosophies and tips suggested here when it comes to analyzing companies. Amazingly, the book is not written in financial jargon but rather in a simple way that even novices would easily understand. i rate this book a "buy!"

    5-0 out of 5 stars Probably the best stock investment book ever
    This is a terrific book for stock investors of all levels, beginner through advanced. Lynch has tremendous credibility, as an extremely successful long-term mutual fund manager. And he shares a good deal of his investment knowledge with readers in this book. The author shows why stocks have been better than cash or bonds in the long run, and covers the basics of valuation: PE ratios, earnings growth, brand value, financial/cash position, etc. Then he points out that each individual investor brings their own "edge" to the investment table, such as that a truck driver might notice that he's delivering more for a growing business before "The Street" realizes that the business is growing, or a retail sales clerk might have a better handle on what's selling than a Wall Streeter in New York City, etc (this "edge" is the "One Up" part, referenced in the book's title).

    I read this book before I got serious about investing myself, it's helped me to be successful (I've "beaten the street" fairly consistently, much of this thanks to Lynch's book) and I've re-read it several times over the years. My biggest problem with this book is the printing; while the quality isn't terrible, it could be a lot better, a lot more readable. This is a book just CRYING to be published again in hardback, with new, larger typesetting. And I don't mean that little miniature abridged hardback version. Considering the popularity of this book, and the great number of well-to-do investors, why not sell us a leather bound, acid free paper, nicely typeset version for $50-$75 retail? Until that ever happens (unlikely, but I can hope) this excellent investment book will have to do in the current paperback form. Remember, if you are considering investing in stocks - start here, read this book! And even if you think you know it all, you still should read Lynch's book, it's that good.

    5-0 out of 5 stars Read it
    If your read one book on investing, make it this book. If you visit one site on investing, make it Fool.com

    The kind of patience required in seeking the kind of gains you can only reap by holding through volatility and buying & selling on fundamentals & valuation is the key piece of knowledge that you will gain from this book. We're too bombarded on a daily basis about the daily swings of the market - the result? More and more people with less patience failing to make the kind of gains that can only come with good stock picking and more importantly, the patience demonstrated by investors like Lynch, Buffet, Graham and Shelby Davis. ... Read more


    18. The New Money Masters
    by John Train
    list price: $16.00
    (price subject to change: see help)
    Asin: 0887306373
    Catlog: Book (1994-09-01)
    Publisher: HarperBusiness
    Sales Rank: 390131
    Average Customer Review: 4.2 out of 5 stars
    US | Canada | United Kingdom | Germany | France | Japan

    Book Description

    John Train's The Money Masters is one of the most widely read investment books in history. In The New Money Masters, Train describes the technique of today's investment wizards, from Peter Lynch to George Soros. Revealed are the advantages of over-the-counter issues, the best ways to invest in foreign stocks and in newly industrialization countries, how the masters determine when the market is too high or too low, and how to lay out the key facts about a company in order to understand it most easily.

    ... Read more

    Reviews (5)

    4-0 out of 5 stars Good but nothing mind blowing
    If you want to read a concise book about the investment styles and philosophies of recent great investors this book might be the one for you. Any student considering asset management as a career should read this one as well as The Money Masters, its predecessor.

    I would encourage everyone to understand the difference from this book and its predecessor. This book is primarily focused on investors that became household names in the 1980s such as: Jim Rogers, Michael Steinhardt, Philip Caret, George Soros, George Michaelis, John Neff, Ralph Wanger, and Peter Lynch.
    The prior book, The Money Masters, deals with Golden Age investors who, for the most part, attained their reputations prior to the crash of 1973 and 1974.

    Both of Train's books are in the form of interviews he has with them. Train's writing is crisp and entertaining, and his interviews uncover many pearls of wisdom applicable to any investor's philosophy.

    The biggest brand name interviewed here, for most, is Peter Lynch who ran Fidelity's flagship Magellan fund. Lynch pioneered a consumer approach to the investing process and invested using a hybrid of the growth and value style that has come to be known within the industry as GARP, standing for Growth At A Reasonable Price. Both Soros and Rogers have fairly interesting ideas about the nature of investing and the sentiment behind it. Both of them worked at Soros' Quantum Fund, which was the largest and most successful hedge fund for decades and left both of them extremely rich.

    If anyone is interested in books on the people behind the financial industry read Money Masters, New Money Masters, Predators Ball, Money Culture, Den of Theives and F.I.A.S.C.O. 25 Investment Classics and Goldman Sachs: the Culture of Success are other notable books. I gave the book 4 stars because, while it was very concise and well written I didn't find any information within the book that was of great help to me. It was entertaining and informative but not ground breaking or made me say "AH HAH" or have that light bulb go off in my head.

    5-0 out of 5 stars winning investment strategies ? start with blood and sweat
    sorry if you expected a how-to in 25 words or less; the guys highlighted within could think- arriving at creative solutions, work obsessively or at least- with discipline [ check out Rogers' work sheet in the appendix..], and were rock solid in their convictions .....

    good to see efforts like these highlighted in the newest go-go era, in which for a lucky few- monster payoffs, quickly, were more common than lottery winnings. [ I know more than a couple who've gone from 15 to 500 in a virtual heartbeat, sometimes with no more conviction than : 'Sure, why not!! ' That's not how these people scored. Nor how most of us ever will.]

    Regarding, Train- I'd be inclined to buy a book of his blindly; can't imagine him disappointing.

    2-0 out of 5 stars Dont expect much, or simply dont expect at all
    I read The New Money Masters after the Market Wizards and the New Market Wizards. When I saw "winning investment strategies of: Soros, Lynch, Rogers, etc etc on the front cover, I immediately bought it. Like any trader who jumps into the market without a plan or thorough study, I lost this trade. Train tried to portrait what's in the masters brains but he failed. Even worse, his writing skill had been quite bad to convince me to complete the whole book. Well, how am I supposed to expect something from a 379 page book that carries 147 pages of appendix?

    5-0 out of 5 stars Excellent Follow-up to The Money Masters
    The New Money Masters by John Train is the successor to his first book and is just as informative.  Investors covered include the following: Jim Rogers, Michael Steinhardt, Philip Caret, George Soros, George Michaelis, John Neff, Ralph Wanger, and Peter Lynch.  Outstanding investing is the result of a disciplined mental process. It is time well spent to learn how these investors think.

    5-0 out of 5 stars Intriguing and Simple
    The New Money Masters provides interesting and insightful backgrounds of the most well renowned investors on Wall Street. Describing their tried and tested techniques and methodologies, you are left to appreciate a multitude of differing opinions and options to consider for your own investment opportunities. Each 'Master' has been illustrated in a chapter, with additional statements and transaction records included in the appendix. Overall, 'The New Money Masters' is a piece of literature that will be a pleasant and invaluable read for any investor, experienced or basic. ... Read more


    19. Common Stocks and Uncommon Profits and Other Writings (Wiley Investment Classic)
    by Philip A. Fisher, Philip A. Common Stocks and Uncommon Profits Fisher
    list price: $19.95
    (price subject to change: see help)
    Asin: 047111927X
    Catlog: Book (1996-05-01)
    Publisher: John Wiley & Sons
    Sales Rank: 95507
    Average Customer Review: 4.6 out of 5 stars
    US | Canada | United Kingdom | Germany | France | Japan

    Book Description

    "You will find lots of jewels in these pages that may do as much for you as they have for me."—from the Introduction by Kenneth L. Fisher Forbes columnist

    Widely respected and admired, Philip Fisher is among the most influential investors of all time. His investment philosophies, introduced almost forty years ago, are not only studied and applied by today's finance professionals, but are also regarded by many as gospel. He recorded these philosophies in Common Stocks and Uncommon Profits, a book considered invaluable reading when it was first published in 1958, and a must-read today.

    Acclaim for Common Stocks and Uncommon Profits

    "I sought out Phil Fisher after reading his Common Stocks and Uncommon Profits...When I met him, I was impressed by the man as by his ideas. A thorough understanding of the business, obtained by using Phil's techniques...enables one to make intelligent investment commitments."—Warren Buffett

    "Little known to the public, rarely interviewed and accepting few clients, Philip Fisher is nevertheless read and studied by most thoughtful investment professionals . . . everyone will profit from pondering—as Warren Buffett has done—the investment principles Fisher espouses."—James W. Michaels Editor, Forbes

    "My own copy [of Common Stocks and Uncommon Profits] has underlinings and marginal thoughts throughout."—John Train Author of Dance of the Money Bees ... Read more

    Reviews (25)

    5-0 out of 5 stars Solid read; practical ideas
    This book is a classic in the investment field. Fisher is acknowledged as one of Warren Buffet's intellectual fathers and it shows. However - like many books on Buffett - Fisher's approach relies on the ability of the individual to spend large amounts of time researching companies and stocks. While this minimizes the risk of investing badly, it also assumes that picking stocks is your life. I recommend that anyone interested in investing read this text as an example of how to think about companies in which to invest. However, be prepared that it won't be as directly usuable as, say, the writings of Peter Lynch.

    4-0 out of 5 stars Not your typical investment book
    "Common Stocks and Uncommon Profits" was an investment book with a different focus. Fisher focused not on valuation aspects such as the ones Ben Graham would use or technical trends that other would use, but instead focused on seeking out stable companies with good management and other qualities. Fisher prefers growth companies exhibiting substantial income and revenue growth. He likes what I would call the intangibles of stock investment; exceptional management, marketing, sales, and many other segments of a company. The only knock on Fisher's work is that he assumes normal people have the time or resources to seek out the leaders of a company. He also assumes that if you don't seek out the leaders of a company that you aren't doing your due diligence. Either way this book did provide me with several new concepts that I knew were important to investing but hadn't really thought about. This book will cover topics that Lynch, Graham and the other investment writers haven't covered.

    4-0 out of 5 stars quite a few nuggets, but impractical at times
    when "scuttlebutt" is one of the leading litmus tests before investing, you're dealing w/ a program that is impractical for average individual investors. but the book is quite valuable for its focus on long run investing, its 15 rules for investors (and moreso, the rules for investors to NOT follow), and its stress on conservatism in practice is very helpful.

    ultimately, this book is less about security selection than it is in investing philosophy---which it excels at. that's why buffett loved it, and you may too.

    5-0 out of 5 stars A Must for Every Investor's Library
    I first read this book over ten years ago, and like the other reviewers, I too found it a difficult read. When I first read it, I thought the advice was somewhat impractical for the small time investor (try to imagine calling Bill Gates asking him what he thought of Steve Jobs' company). Graham's security analysis was much easier for the little guy investor to apply. Yet Fisher's techniques were and are used by the big time investors ( most notably Peter Lynch, and though I don't think he gives Fisher enough credit, Warren Buffett). Even the rankings of "Top CEOs" by Forbes, Businessweek, Fortune etc. was based on Graham's security analysis. Then came the corporate scandals of the 1990's, the Sarbanes-Oxley Act, and Elliott Spitzer of New York and now the little guy investor can apply Fisher's theory of investing. Fortune Magazine's CEO ranking has as much to do about corporate governance as it does with security analysis. There are websites devoted entirely to corporate governance. The Institutional Shareholder Service was created solely to act as a corporate governance watchdog. I recently re-read Common Stocks. It's still a difficult read and you can't read it in one day or even in one week. It's a book that you have to read and re-read to get the most out of it. The most useful chapters for an investor are Chapter 3 "What to Buy: the fifteen points to look for in a common stock", Chapter 8 "Five Don'ts for Investors, and Chapter 9 " Five More Don'ts for Investors." Fisher's Common Stocks and Graham's the Intelligent Investor are the two basic building blocks that every investor must master to be succesful in the stock market.

    5-0 out of 5 stars The Best Investment Book of All Time
    I first read this book in 1992, and it did nothing for me. At the time, I had very little investment experience and was only starting to study the market. I re-read the book again in 2001 and, wow, it took me to a different level.

    I would not recommend this book to investors who have less than 5 years of stock investing experience. You simply wouldn't get much out of it and might unintentionally lead you down the wrong path. Once you get your investing fundamentals down, this book will expand your horizon beyond your dreams.

    Warren Buffett credited Ben Graham as the most influential force in his investment style/thinking, but I believe that it's Philip Fisher who gave him the edge and made him one of the great investors of the 20th century. ... Read more


    20. Stock Picking: The Eleven Best Tactics for Beating the Market
    by Richard J. Maturi
    list price: $14.95
    (price subject to change: see help)
    Asin: 0070409382
    Catlog: Book (1993-05-01)
    Publisher: McGraw-Hill Trade
    Sales Rank: 1120392
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