Book Description

Some traders distinguish themselves from the herd. How do these spectacular winners whose success occurs across a spectrum of financial markets do it? What separates them from the others? What can they teach the average trader or investor? In The New Market Wizards, these wildly successful traders--some largely unknown--relate the financial strategies that have rocketed them to success. Asking questions that readers with an interest or involvement in the financial markets would love to pose to the financial superstars, Jack D. Schwager gets these financial wizards to share their insights. Entertaining, informative, and invaluable, The New Market Wizards is destined to become another Schwager classic. ... Read more

Reviews (41)

Not as good as the original but still worth buying
Jack Schwager is a great author. He asks very intelligent questions and seems to have a deep though un-intuitive knowledge of the futures game. (See the CRT interview, overly analytical people mask intuitive traits). The William Eckhardt interview is incredible and should be re-read many times over. This interview alone is well worth the price of the book. I have one major gripe with the author however. Schwager seemed to have had a serious lapse in judgement by including some of the traders that he did. There is no doubt that all the traders interviewed in the book are of high caliber but some definetly cannot be thought of as "Market Wizards". Who am I talking about? Linda Raschke, Tom Basso, Charles Faulkner maybe even Trader Vic. Who is very underrated? Jeff Yass, the man is the best options player around. Druckenmiller, Trout, and Eckhardt are as good as it gets.These legendary names should not be sullied by the inclusion of the above mentioned traders. Schwager left out some amazing traders, what about the people at Kenzie, Niederhoffer ( I know he blew out), Louis Bacon, John Henry, Willem Kookyer and Grenville Craig? Anyone ever heard of Jullian Robertson? Please Jack, if you ever write Market Wizards 3, try to include all or even some of these people. Not traders that you speak with at "Omega" conferences.

Who said trading wasn't fun and profitable!
I read this book ... I was thoroughly impressed.

I had read Schwager Technical books on trading in the past. And although I liked them, I found them to be quite tedious. With his Market Wizards series I was thoroughly impressed. You read the real life accounts of the top traders in the world and all you can say to yourself is I can do it too.

In no way does Schwager's voice interfere with the wisdom and message that these top traders try to get across. This is one of the most inspirational financial books of the decade, solely because it doesn't try to inspire, it simply gives the average trader a glimpse of what others call the impossible, beating the market, and the hope that you may be in the next edition.

Great Book - Must Read
Great read. I've read this book so many times the pages are beginning to pull from the binding.

Great read.

Is Michael Lauer still in this edition?
A great book and one that will teach you more about investing than most of the other so-called investment books that promise much and deliver little.

I'm not sure if Michael Lauer has been taken out of the book now. When I read his chapter I remember thinking he seemed a) extremely arrogant and b) extremely talented. Not sure what went wrong - maybe it was when he started trying to become a movie producer.

An essential book for any serious investor (or trader).

Good book if you like to read interviews...
What is this book?

Jack D. Schwager interviewed some of the best traders in 1992 and compiled edited transcripts in this compelling book.

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Who is interviewed?

From the currency market: Bill Lipschutz .

In Futures: Randy McKay, William Eckhardt, The Turtles, Monroe Trout and Al Weiss.

Various market times and fund managers: Stanley Druckenmiller, Richard Driehaus, Gil Blake and Victor Sperandeo.

Traders who play several markets: Tom Basso and Linda Bradford Raschke

"The Money Machines" such as: CRT (Chicago Research and Trading), Mark Ritchie, Joe Ritchie, Blair Hull and Jeff Yass.

Psyschology: Zen and the art of trading (person didn't want his name mentioned), Charles Faulkner, Robert Krausz.

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I didn't recognize many of those names, probably because of these reasons:

* The book was written in 1992.
* I'm not into really into trading.

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Nevertheless I think the book is a great learning experience. You won't learn how to trade from this book but it gives you insight into the trader's psyche. I like learning about people who have been successful, (think Leader's & Success page, of IBD) since I feel it motivates me to learn more and work harder towards reaching my goals.

My favorite chapter in this book is entitled "Closing Bell" and it is a recap of all lots of trading advice mentioned over and over by these trading experts. I feel reviewing this chapter over and over is worth the price of the book.

Reed Floren ... Read more

Book Description

Hailed by Forbes magazine as "one of the seminal figures of modern investment thinking," and a "giant" by investment wizard Warren Buffett, Philip Fisher is one of the most influential investors of all time. Admired for his investment success, he is even more widely respected for his sound investment philosophies—philosophies that have withstood the test of almost forty years and that are regarded as gospel by the investors of today.

These principles and theories were introduced by Fisher in Common Stocks and Uncommon Profits. Initially published in 1958, it is today considered an invaluable reference for investment success. Now, for the first time, a new, single edition brings this timeless classic together with the investment wisdom and insight offered in Fisher's other acclaimed writings—Conservative Investors Sleep Well and Developing an Investment Philosophy.

As the first to consider a stock's worth in terms of potential growth rather than price trends and absolute value, Fisher laid the foundation for many of today's popular investment beliefs. His principles of selecting long-term growth stocks for their emerging value over short-term trades for initial profit continue to be studied and applied by today's top finance professionals.

In Common Stocks and Uncommon Profits, Fisher shares his philosophy, offering valuable insights into the most fundamental and important aspects of buying and selling stock. Here are solid guidelines on when and what to buy, sound reasons for selling common stock, as well as critical information on profit margins and dividends. There is also Fisher's famous list of Top-Ten "Don'ts" for investors, complete with warnings against buying into promotional companies, over-stressing diversification, following the crowd, and buying stock just for the "tone" of its annual report.

As an ideal complement to Common Stocks and Uncommon Profits, Conservative Investors Sleep Well and Developing an Investment Philosophy explore, respectively, the myriad intricacies of conservative investments and the genesis of Fisher's unique philosophy. Both selections offer further insight into the wisdom of this great investor. As indispensable today as when they were first published, these classic writings provide keys to investment success which every investor will relish.

"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...enable 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)

Timeless approach, somewhat outdated details
This is a great classic book on investing. The author's language is at times somewhat hard, but the gist is absolutely crystal clear: invest in high-quality growth stocks and don't be afraid to buy them at a slight premium, plus investigate fundamentals, managements' ability and competitiveness very thoroughly before committing funds for very long holding periods (10 years or more). Fisher's intuitive, "scuttlebutt" approach to investing is certainly different (and more successful) than that of quantitative mathematical folks. As Warren Buffet often says: "It is better to be approximately right than precisely wrong". It is impossible to quantify how popular a company's products will be in the future or how honest and able the management is. The Fisher's 15 points will help you assess these and other unquantifiable but nevertheless absolutely vital things about an investment.

Solid read; practical ideas
This book is a classic in the investment field. Fisher is acknowledged as one of Warren Buffet's intellectualfathers 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.

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.

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.

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

Book Description

An unparalleled opportunity to learn the investment game from the ground up, from two of today’s most respected traders and investment coaches

An Indispensable Companion to The Stock Market Course

George Fontanills is one of the world’s most respected traders and one of the most sought-after advisors to top financial institutions and trading firms. But he was by no means an overnight success. Fontanills learned the art and science of trading the markets the hard way–through a difficult and costly series of trials and errors. One of the most important lessons his early trading experiences taught him was that the first job of every novice trader is to acquire a thorough education about the ins and outs of the markets.

The Stock Market Course Workbook gives you the basic knowledge and skills you need to realize your dreams of success as a stock trader. In plain English, George Fontanills and expert Tom Gentile familiarize you with the ins and outs of the markets. They clearly explain all key stock market terms and procedures, assess the relative risks and benefits of stock investment, and even help you determine whether or not you are suited financially and psychologically to be a market player. The Stock Market Course Workbook then allows you to hone your knowledge with practical exercises to help further your understanding, as well as test and apply what you have learned–before you put your money in the market. The workbook includes a complete set of questions, problems, exercises, and an answer key.

The next best thing to having a top investment coach by your side every step of the way, The Stock Market Course Workbook helps you transform your dream of success as a stock trader into a golden reality. ... Read more

Reviews (1)

Goes with the Stock Market Course Book
This workbook should only be purchased if you buy the main book. It is designed to test your knowledge after reading the Stock Market Course book.

Great idea. Helped me refine my knowledge. ... Read more

Book Description

The volatile stock market is turning serious investors into macroeconomic-data junkies. Yet understanding just what the economic statistics mean, their place in the actual machinations of the economy and financial markets, and how to decipher the market's likely reactions to the latest pronouncements is a daunting challenge. Interpreting and applying effectively the complex cocktail of statistical data to investment decision making can be overwhelming.

This book hones in on the most important economic statistics observed on Wall Street today and points out the role that each plays in moving markets. It highlights the key interrelationships that each statistic possesses in and among the other economic indicators, and outlines their practical significance to investors.

An extremely readable desk reference written from the combined perspective of a former trader, academic, and current Wall Street economist, The Trader's Guide to Key Economic Indicators will lead you through the mists of information, revealing what these important measures are and what they really mean. ... Read more

Reviews (2)

Not just for traders. Easy to read book for anyone.
This book was surprisingly easy to read and understand. Very interesting material for anyone curious about the factors that influence the economy and what measures to watch to understand where we are heading. Concentrates on the major indicators and tells you where the data comes from. Illustrated with lots of charts and tables to help you understand the relationships over time. Organized so that the information builds up to the more complex relationships. Though written by an economist, this book is surprisingly easy to read and the material was interesting (even for someone that slept through econ 101, like me). The most useful economics book I have run across. Highly recommended.

Superb Overview of Major Economic Indicators for Traders
Even if you once knew all the ways that economic indicators are defined, data collected and reported, chances are that all of this has changed (unless your knowledge is less than 2 years old). In addition, the best way to use these indicators is constantly changing as new analytical tests are developed and back-checked. So if you are the chief economist for a Wall Street investment bank or brokerage firm, you probably don't need this book. But if you hold stock and bonds in the United States less often than 10 years, you can profit from this book.

Each chapter provides a delightful history of how a relevant indicator was developed, how the measurements are made now, how to apply the indicator for stock and bond investing and the latest technique for getting an "edge" on just looking at the indicator alone. The material is written in the kind of simple language that almost anyone can easily understand. The math is simple, too. If you can do arithmetic, you can understand this book.

There are individual chapters GDP; leading, lagging and coincident indicators; employment; industrial production and capacity utilization; indices from the Institute for Supply Management; manufacturers' shipments, inventories and orders; manufacturing, trade inventories and sales; new residential construction; consumer confidence and sentiment; advance monthly sale for retail trade and food services; personal income and outlays; and the consumer and producer price indices. Each discussion looks at how these data help you understand the future business cycle, interest rates, corporate profits and Federal Reserve actions.

I thought that the graphs were one of the best parts of the book. You can judge for yourself how powerful the relationships are that Mr. Yamarone outlines.

As I finished this book, I realized how nice it would be to have similar books for consumer decisions (like when to refinance your home, etc.) using the same kind of indicators in different ways.

. ... Read more

Book Description

(Second edition expected to be released December 15, 1999 and will contain substantial enhancements)

This is the definitive book on stock option strategies.STOCK OPTIONS shows holders of compensatory stock options how to make the right choices and avoid costly mistakes.It is the first book to explain, in clear and understandable language, what options are, how they are taxed (including how to prepare IRS Form 1040), and how to maximize their value.

Written for the layperson, and a must read for employees who have employee stock options, STOCK OPTIONS is also used by CPA firms as a reference manual and training course for tax professionals.Michael R. Griesmer, CPA, a former senior tax manager at Arthur Andersen LLP, and now a tax partner at McClintock Accountancy Corporation, says: "STOCK OPTIONS is so comprehensive and insightful that tax professionals, financial planners, and investment advisors must read it or face the risk of embarrassment from clients knowing more about stock options than they do".

After reading STOCK OPTIONS, you will know:

* the differences between an incentive stock option (ISO) and a nonqualified stock option and how tax law treats them differently

* what happens on the date you exercise your option

* what happens on the date you sell the stock

* when to exercise options and hold the stock

* how to convert ordinary income into capital gain

* the significance of disqualifying vs. nondisqualifying dispositions

* that SEC-imposed restrictions may present you with a tax-saving opportunity

* when, why and how to shift taxable income to a different year

* how the alternative minimum tax affects the exercise of ISOs

* how the alternative minimum tax credit changes income tax planning

* how to pay the exercise price, without using cash, in a tax-deferred exchange of stock

* when to buy the stock rather than exercise an option early

* what reload options are and how they work

* what makes one option more valuable than another

* how to compare stock option packages from different employers

* what "substantial risk of forfeiture" means and why it's so important

* what is, and is not, a substantial risk of forfeiture

* the special tax rules when Section 16(b) of the Securities Exchange Act of 1934 applies

* that some optionees may exercise UNVESTED options--both nonqualified and incentive stock options

* when it's wise to exercise an UNVESTED option and why

* the risk involved in exercising an UNVESTED option

* the tax risk involved in merely asking the corporation for permission to exercise UNVESTED incentive stock options

* what a repurchase option is

* that the terms of a repurchase option can result in the stock being subject to a substantial risk of forfeiture

* the adverse tax consequences if the optionee exercises an option, makes a Section 83(b) election, and later forfeits the stock

* that you can make a Section 83(b) tax election after exercising UNVESTED options

* the income tax consequences of exercising an UNVESTED ISO and making a timely Section 83(b) tax election

Audit Proof Your Income Tax Return

Learn how to prepare a complete and accurate income tax return and make it audit proof.STOCK OPTIONS gives readers the upper hand against any IRS challenge. ... Read more

Reviews (33)

One of the few comprehensive accurate resources available
I found Pastore's "Stock Options" book to be an essential resource for any employee or entrepreneur needing to understand this very complex subject. It is one of the few comprehensive accurate resources available on the topic. While my book "Engineering Your Start-up" contains some overlapping material and more specific guidance to the entrepreneur in granting stock options, Pastore's book is an essential supplement. It is more complete in some areas, and is up-to-date on the related tax laws. The financial risk of not optimizing one's tax exposure in deciding when to exercise or sell stock options, for example, far exceeds the cost of this book. I recommended to all my friends who have any stock options at all, to buy, read, and keep this book for future reference.

Excellent, easy to understand guide to stock options
I really enjoyed this book, it is a straighforward guide written in a style for the average person. Reading about taxes is about the last thing I want to do but this book made understanding my "options" regarding my employee stock options easy. I used the knowledge from the book in working out the best tax saving strategy with my CPA. This one actually saved me money.

Helped me
This book helped me greatly with some stock options I got from my work. I had NSO stock and had not idea how the taxes worked out on it and when the best time was to exercise.
Well this book, I made a good decision and made $80,000 on my stock options.

Very informative, technical, and dry.
Just the book I was looking for in 1999. I applaud Pastore's contribution of clear explanations regarding the types of stock options, tax implications, etc. I used the knowledge gained to weed out prospective financial advisors during interviews. You'd be surprised how many of them don't understand tax law when it comes to employee stock options.

Abundance of useful information, Very easy to read
This book is the most efficient piece of writing on the taxation of stock options that I have read. I can extract more useful information with less effort than from any other source. The book explains the taxation of stock options in plain English. Anyone who has been granted stock options or who is an advisor to people with stock options should consider adding this book to his or her library. ... Read more

Reviews (21)

My first investment book
Although you don't hear too much about Marty Zweig anymore, in the late 80's and early 90's he was the authoritive voice in investing and in my book, still is.

This book was my first investment book. Showed me how to make money in any market and how to do it on my own without listening to pitched from brokers and other commissioned financial people.

This book is still a winner. Highly recommended.

Quick Read; very informative; not boring
This book is a quick and interesting read, and Zweig does a good job of demonstrating and describing his strategies and models to the everyday, stock market layman. This book, and others by Zweig, have been and were recommended to me by several money managers, whom I know to be very successful in their careers. The thing I will take most from this book is Zweig's instruction on how he uses contrarian indicators (specific ones that he finds the most critical) to predict market behavior.

a good piece of common-sense
Gives an insight in mindset of a succesful investor/trader and quite a few original perspectives about the stock market. Highly recommended, even if sometimes sounds like a generation old.

Zweig's Indicators are Not Infallible
Even though Zweig's prime rate indicator has performed well in the past (giving excellent buy/sell signals); it would not have kept you out of the recent bear market. For example, using this indicator alone (which Zweig recommends you can do), you would have been invested in the market on February 1, 2001 (the last buy signal). As a result, you would have suffered the market's incredible drop (as the sell signal never occurred). I haven't backtested his other indicators (or super model) on recent market data, but, I am assuming that these indicators also failed (please let me know if I am wrong). One never expects 100% accuracy, yet, on the otherhand, you want an indicator to do its job when its necessary. Conclusion: technical/monetary indicators are not infallible, not even Zweig's.

Nice book, but why lackluster funds
This is a seductive book since it appears to provide useful guides that will enable the investor to time the market. It is by no means a simple scheme, and based on the information provided, seems pretty foolproof. Trouble is, the data stops at 1990, just when things got interesting in the market, and has not been updated. The other troubling and puzzling thing is that Zweig's own mutual funds have not been star performers and his market letter was discontinued years ago. ... Read more

Book Description

Now completely revised and expanded!

THE bestselling guide to Getting Started in Stocks

Thinking of getting your feet wet in the stock market, but don't know where to begin? Perhaps you've already taken the plunge but would like to know more about the stock and mutual fund investments you've made? Tens of thousands of investors already know the place to start is this best-selling guide by Alvin D. Hall, whose dynamic style of teaching investment professionals has earned him the moniker, the "Professor of Wall Street." Packed with new material on mutual funds, dozens of new real-life examples, and up-to-the-minute information, this thoroughly updated edition will help you:

• Set clear financial goals
• Determine the level of risk you can afford to take
• Evaluate stocks and securities for risks and rewards
• Track market trends for solid, informed choices
• Use mutual funds to diversify and cut risk
• Determine the right proportion of stocks for your portfolio
• Fully exploit international market opportunities

Reviews (11)

Textbook
This book is written well enough to be used in a college course on the stock market. I cant say its helped me make money in the market with all the problems that have come about recently. This book will teach you enough about the technical side of stock trading, but not about managing a portfolio of stocks and mutual funds.

great beginner book
I had no idea that there where more than one stock exchanges before reading the book. Now I know how to hedge investments using options. the book covers every aspect of the stock market that the novice should know about. I read the book in 2 days because it was written in a format that I could comprehend. I can now amaze my friend with my knowledge of stocks.

Very good beginning investment book
This book was an easy read to learn the basic terminology. And it's a nice reference book with a good "stock" glossary at the back of the book. After this, you'll be ready to read something a little for philosophical like Peter Lynch's masterpiece "One Up On Wall Street".

An excellent book for the beginner investor.
This well written book gives the beginner investor the information needed to understand investing in stocks.

The book goes through setting your goals, assesing your risks and rewards. It teaches you about common and preferred stocks and the basics of buying and selling stocks.

There is a chapter on different investment strategies and then the book takes you into fundamental and technical analysis of a stock.

Finally the book touches on mutual funds, rights, warrants, and options.

All in all this is an excellent book and is one that any beginner investor will learn a lot from.

Great beginner book
I had no idea that there where more than one stock exchanges before reading the book. Now I know how to hedge investments using options. The book covers every aspect of the stock market that the novice should know about. I read the book in 2 days because it was written in a format that I could comprehend. I can now amaze my friends with my knowledge of stocks. ... Read more

Book Description

The New York Times bestseller about the collapse of a major financial house and Wall Street institution, in paperback for the first time. ... Read more

Reviews (4)

Lessons for many in high-pressure working relationships
This story of greed and glory is one that has been acted out in all types of businesses - large or small, service or product, new or old. It is a parable of overinflated egos, hyperpolitical environments and the inability of individuals to see their limits when blinded by the light of self-glorification. It is essential reading for anyone in a shared leadership role - partners, executives in tightly run corporations, etc. - and is most valuable for the lessons people should learn about themselves through Lehman's demise.

Greed and Glory on Wall Street: The Fall of the House of Leh
Auletta chronicles the activity at Lehman Brothers during the months between July 1983 and April 1984, immediately preceding the firm's takeover by Shearson/American Express. During that brief period, Auletta reveals, Wall Street's oldest investment banking partnership was simultaneously buffetted by the ambition and greed of one faction and by the complacency and misplaced self-assurance of another group of partners. Details shared after the fact with Auletta by many of the participants make clear, often with self-serving insight, that blame for the takeover could well be shared by more than just the two principal players. This tension born of petty human motives is all the more striking when set against the sophisticated investment banking environment. Most business collections will want this title.

Boring business book
This book was relatively boring compared to many other business books. To much detail was given to mundane topics. Not a mentally stimulating book by any means.

a rich treatment of an important financial event of the 80s
reads like a greek tragedy; rich treatment of the people involved in one of the most important, and most interesting, financial events of the 80s. ranks as one of the most finely crafted books of its type in business; it gives the reader a deep look inside a complicated world and shows us the role of interpersonal relationships in business decision making. ... Read more

Book Description

Stock Investing for Everyone

This book is written for a broad category of investors–ranging from the inexperienced part-timer interested in learning more about analyzing stocks and taking advantage of market trends to the seasoned pro, aiming to hone his or her skills and learn more about the latest investment strategies, tools, and techniques.

Written by an exceptionally well qualified author team–one of whom, Vaqar Zuberi, was ranked among the top 50f proprietary traders for seven years running–Stock Investing for Everyone covers all the bases, from market fundamentals to advanced electronic stock screening and ranking tools. Without abstruse theory or complex mathematics, it supplies clear, step-by-step instructions on how to:

• Research stocks using the Internet, newsletters, company reports, and other major resources
• Use sophisticated stock valuation tools and techniques
• Conduct fundamental and technical analysis
• Analyze key fundamental and momentum indicators such as EPS, trading volume, moving averages, and others
• Recognize and exploit market trends
• Screen and rank stocks using both traditional and the latest electronic tools
• Interpret stock behavior and effectively handle both weakening and red-hot stocks
• Use the investment strategies and techniques of stock market professionals
• Employ sophisticated risk and portfolio management techniques
• Screen stocks using the original, highly effective "Express" method

Stock Investing for Everyone arms you with the knowledge and skills you need to minimize risk and maximize the returns on your stock investments.

Praise for Stock Investing for Everyone

"A valuable source of investment strategies and general investing information for all levels of investors. I work in the financial industry, providing investment research data to individual and institutional investors,and I still learned a great deal from this book. Any investor can use the tools provided here to help make profitable investment decisions. I strongly recommend this book to anyone who is beginning to enter the market or to experienced investors seeking to broaden their knowledge base."
–Brett A. Bernstein, Vice President, Zacks Investment Research, Inc.

"What makes this book terrific is that it provides a very thorough and up-to-date treatment of stock analysis, particularly as to stock valuation, that individual investors can easily understand."–Chuck Hill, Director of Research, First Call Corporation

"The authors provide a thorough and comprehensive guide to the dos and donts of stock investing." – Jim Solloway, former Director of Research, Argus Research Corp.

"A comprehensive, nuts-and-bolts book that can meet the needs of novice, experienced, and professional stock market investors. Unlike most books on investing, this book focuses solely on the stock market and, consequently, fills a void in that area." – Isidro A. Diaz-Tous, President, Encor-America, Inc. ... Read more

Reviews (3)

Easy to understand and full of valuable information
I was a novice to the financial markets before I read this book.I have successfully used the ideas and principles in this book to improve my investment criteria, and feel much more confident about success in thestock market.

a great book
This book provides information about technical and fundametal analysis.It is written in a clear way. I would recommend this book to my friends.

A great book!
The book provides overview of fundamental andtechnical analysis. Authors were able to presentmaterial in a clear way and explain it very well. I am sure this book can help to invest better.I will recommend this book tomy friends. ... Read more

Book Description

The Washington Post described the collapse of the massive hedge fund Long-Term Capital Management as "one of the biggest financial missteps ever to hit Wall Street." The Wall Street Journal called the fund "one of [Wall Streets] most aggressive offspring" and the Financial Times described it as "the fund that thought it was too smart to fail". Business Week put the collapse down to the fact that "Long-Term Capitals rocket science exploded on the launchpad". LTCM was built on genius. Its founding partners included John Meriwether, the once legendary king of bond trading on Wall Street and Robert Merton and Myron Scholes, Nobel laureates in economics who between them (together with the late Fischer Black) all but invented modern finance through their theory on pricing options. Between 1994 and April 1998 LTCM seemed able to turn this genius into staggering profits. At its peak it commanded funds of US$130 billion and a derivatives portfolio with a notional value equivalent to the entire annual budget of the US Government, making fortunes for those who invested in it. Until suddenly it all went very wrong. Incredibly, it was the assumptions buried deep in the small print of Scholes and Mertons theory on option pricing that had begun to break down, and during that fateful summer of 1998 this breakdown was further aggravated by the regulatory-approved risk management systems designed to avert such a disaster. Based on extensive research and interviews, Inventing Money takes the reader on a fascinating journey. Beginning in Ancient Babylon, Nicholas Dunbar steers a path encompassing the American Civil War, an obscure French mathematician, the chance meeting of Merton and Scholes in the late 1960s, Meriwethers brilliant bond coup in the 1980s, up to and beyond the dark days of collapse and rescue in September 1998. As the story moves towards its incredible climax, the layers of LTCMs trading activities are stripped bare to reveal brilliance and controversy. Merton, Scholes and Meriwether are at the con of this captivating story but as it unfolds, the reader is introduced to legendary characters in the world of finance, moments of groundbreaking scientific discovery and a clear explanation of the seemingly complex seeds of ultimate collapse — options, futures and derivatives. Finance ... Read more

Reviews (38)

Good story telling, but too dumbed down
This book definitely chronicles what you are looking for from the beginnings of option pricing to the LTCM liquidity crisis in Aug/Sep 98. Also, the book gets better as you read on as Dunbar fills in the story quite well by linking events together and relating their significance. My only material criticism is that the book is dumbed down too much. I imagine this is so that the book will appeal to a broader audience than just Wall St types. But, for Wall St types, it drags at times as Dunbar explains basic option pricing, and portfolio and risk management theories. On the other hand, if you are not familiar with these concepts, you should not fear this book for not understanding those concepts - they are explained quite deftly.

All in all, certainly worth the read. A great story! I recommend it to anyone interested in LTCM.

Great narrative of financial engineering...
Dunbar does a wonderful job in recounting the rise and fall of Long Term Capital. This book not only tactfully interweaves the character of the powerful wall street players with their intricate and ingenious strategies, it also effectively accomplishes presesnting the macroeconomic landscape for the reader through well chosen examples from various historical periods. Suspenseful yet fascinating events keep the reader digging through the pages. Though by no means light, armed with basic knowledge in financial derivatives, the reader can easily appreciate the complex positions taken by LTCM, but more importantly, see how these artificially engineered financial instruments, when designed "properly", can generate such enormous impact on an international scale. The story only touches the surface of the vastly unlimited world of financial engineering, but it is inspiring to read about 7 finance geniuses attempt to create an empire capable of manipulating trillion dollar worth of financial asset and derive billion of virtually riskless profits from thin air. I highly recommend this book to anyone who deeply believes in market inefficiency. It sits in my small collection along with Liar's P, The Market Wiz,... and rightfully so.

One Of My Favorites
This is a wonderful book. Not only is this book a detailed examination of the LTCM story, but as a bonus, it is a wonderful introduction to the instruments that were the tools of the LTCM economists. In a real sense, you cannot have an understanding of the seductiveness of the techniques or an inkling of how the trading/money machine worked and why it collapsed and why the collapse was so shocking to the quants without having the introduction. Insights into cleverness and inventiveness of the mechanisms are a real bonus -- after reading Dunbar you not only feel you have an understanding of the sorry saga, but also an useful badsic understanding of derivatives/swaps/arbitrage devices. Great stuff.

A Great WhoDunnIt Train Reading on Hedge Funds
A summer thriller and great train reading for those interested in war stories in the world of hedge funds.

Dunbar has a novice's eyes, which lends for a fresh look at the world of active asset management and its population.

The book is better than its comparable but more famous "When Genius Failed" by Roger Lowenstein.

Dull, Dull, Dull...
This author took what should have been a fascinating subject and turned it into a boring, long-winded and, for the most part, incomprehensible tome. After having read "When Genius Failed" by Roger Lowenstein, I looked forward to reading Dunbar's book, which I thought would be another informative take on the fiasco. Even in the beginning pages, Dunbar jumped around soooo much, from country to country, from financial discovery to mathematical equasions, from era to era AND from subject to subject that is was just TOO DISTRACTING to be enjoyable. Maybe Wall Street traders or mathematicians would be drawn in by this drivel but I don't think the average reader would be. The biggest disappointment was that Dunbar failed to make even these complex, intense traders interesting! "When Genius Failed" is a far better read. ... Read more

Reviews (5)

THE AUTHOR'S $5,000 GUARANTEE TO READERS OF THIS BOOK
THE AUTHOR'S PERSONAL $5,000 GUARANTEE!
1) Offer: In three years, after following our Game Plan Rules explicitly, if you do not make money, R. Max Bowser will personally pay you $5,000 in cash. (We can not say what your portfolio will be since not everyone will be buying the same stocks at the same time. People will begin the program at different times.)
2) Timing: This offer does not involve backdating, such as someone saying they invested in our stocks between 1998 and 2001. The three-year period begins with the first Bowser stock purchased after November 18, 2002. Through the years we have been clarifying our Game Plan Rules. It was only recently we emphasized Proceeds from Sales as being important in determining portfolio value.
3) Documentation: When making a claim, submit confirmation forms on each purchase and sale. The claim must be presented so that it is easily comprehended.
4) Tatics: This offer pertains only to our recommendations . . . . Three years are involved because our stocks often require a comparatively long time to develop and prosper.--Reprinted from page 6, "The Bowser Report." January 2004 issue. R. Max Bowser, Editor. Email: MiniStocks@aol.com.
Web site: www.thebowserreport.com. Phone (757) 877-5979. Fax (757) 595-0622.

BOOK REVIEW
This review by Steven B. Lord has been entered here by Marathon International Book Company which is the publisher of this book. This is a book review submitted on October 15, 2003 by email from Steven B. Lord, editor of the "Advisors Digest."

BOOK REVIEW
"Max Bowser's patient, methodical approach to investing in mini-priced stocks makes sense and makes money. Contray to what you've always heard, you can invest prudently and successfully in the 'penny-stock' sector of the market. Even better, Max's $5,000 guarantee is unique in the industry and is a refreshing breath of accountability to individual investors."
--Steven B. Lord, Editor of "Advisors Digest" Email: slord@advisorsdigest.com

Steven Lord commented on his email with the review "I read the book and loved it."

PUBLISHER RESPONDS TO FIRST TWO REVIEWS
From: Marathon International Book Company (James Wortham, Publisher). I am addressing the two earlier reviews. I am in agreement with the comments by the author. In addition to author's remarks, his step-by-step game plan has been developed and refined since the 1970's and is detailed in his first book, "Making Dollars With Pennies: How the Small Investor Can Beat the Wizards on Wall Street." So many readers of his first book have written about their successes using his "game plan," that Max Bowser compiled their stories in a book titled "Penny Stock Winners: True Stories of Successful Investors." All of Mr. Bowser's books are available on Amazon.

AUTHOR ADDRESSES EARLIER REVIEW DATED MAY 18, 2004
I am James Wortham, the publisher of Marathon International Book Company, and the publisher of R. Max Bowser's book, "Guaranteed Profits With Small Stocks." I received a fax from the author which he requested that I enter in response to an earlier review which had appeared about this book. The following is quoted exactly as I received it at the publisher's office: "With reference to the review of GUARANTEED PROFITS by Kenneth Hathaway, Chester, VT, we cannot challenge his statement that it is a "big advertisement" for our monthly newsletter, "The Bowser Report." We disagree with his assessment that the book has "very little information on how to buy stocks." This leads us to wonder if he actually read the tome or just skimmed through it .... And, as the author of both the book and "The Bowser Report," we have to point out, without being too biased, that the newsletter is the mechanism that makes the book's theories work. It's like reading about how to play tennis--a meaningless exercise unless you go out on the court and start playing and put theories to work. In this instance, the book offers the theory. The newsletter is the court."--R. Max Bowser (Author)

Book about the Bowser Report
This book has very little information on how to buy stocks. It is a big advertisement. Basically tells you to buy his Bowser Report for $54 per year and invest 10,000 in the stocks he lists. ... Read more

Book Description

Dividends are king in today's uncertain stock market, with more investors every day looking to add the stability and long-term performance of dividend-paying stocks to their portfolios. All About Dividend Investing takes a clear-eyed look at this new environment, then provides a comprehensive, step-by-step dividend-investing approach designed to reduce short-term risk while maximizing long-term growth. This timely book introduces popular methods for screening dividend-paying companies, explains how the new tax laws will affect corporate policy and investor behavior, and more.

Book Description

This practical, hands-on blueprint to stocks and mutual funds provides a thorough overview of today’s stock market. From understanding how trends and policies affect markets and the basics of placing a trade to advanced issues including technical analysis, short selling, Modern Portfolio Theory, and more, this unique and useful workbook explains the stock market in clear, concise language. ... Read more

Reviews (1)

Excellent
Great introductioin to a field that can seem quite arcane to the average joe. Affordable,pithy, and intelligible! ... Read more

Reviews (23)

Meyers Series 7 Needs Update!
While this book is thorough in its coverage of the Series 7 topics, some of the information in the book is so out of date it would appear that the book hasn't been significantly modified since its original publication in 1988.

For example, the financial statement section doesn't include Statement of Cash Flows, there is no mention of the difference in treatment of long and short term capital gains and finally, according to this book shorting against the box is still an accepted trading strategy for individuals!

Unfortunately, the text also contains several errors in the end of chapter exams. Sometimes given answers are not among the original choices or are simply incorrect. This problem is not pervasive, however, and does not materially impact the utility of the end of chapter exams.

This book may be a nice introduction to the topics covered in the Series 7 exam but I now find myself looking for a more current text to supplement my studies.

Good Basic Series 7 Exam Book
I purchased this book with the intent of studying it in preparation of taking my Series 7 license exam. With my degree in Finance and reading through the book once and taking the practice exams, I am averaging about 50% pass rate, 70% is passing on the actual exam. I am continuing to study this book until I get hired by a firm that will sponser me to take the exam, this book keeps it fresh in my mind. The practice questions are good, I think a few are incorrect, since I go back and check my answers afterwords. This a a good basic book, I would recommend it to anyone in the same situation that I am in.

bad, bad, bad
This book will get you nowhere. I said nowhere.

passtrak is better
i only used the older version from the library, maybe its better now.but just get the passtrak book, and drill the cd rom tests.youll do fine.

Simply Horrible!!!
Very poorly written, too many errors (from typos, to calculations, to errors on the practice exams!). The CD is also horrible. I have had to seek other sources of material because I do not believe I will pass the Series 7 with this book alone! ... Read more

Book Description

Bulls, bears, and the price of shares-the daily tallies of the stock market are on everyone's mind. The contemporary investor usually measures ownership via a confirmation blip on the computer screen; nevertheless, since the eighteenth century, stock certificates have visually charted the evolution of American industry. Now highly collectible, these documents are the ultimate melding of art and commerce, and The Art of the Market 200 years' worth of stocks on their artistic rather than their financial merits.

In the days before advertising and annual reports, the stock certificate projected a company's image of quality to the world through artwork and embellishments that epitomized the times-from the bold engravings of locomotives stamped on the shares of nineteenth-century railroad tycoons, to the sleek Art Deco styling from the early automobile era, to the graphic images for today's high-tech media giants. The Art of the Market presents more than 200 certificates that collectively render America's social and economic history through wars and peace, panics and prosperity. Each certificate is fully analyzed in artistic terms, while the lively text offers a compelling historic background on the capitalist mosaic. ... Read more

Reviews (5)

A great coffee table book
This book is an excellent reminder of a time when stocks meant more; when stock was something tangible you held vice keystrokes gone in the blink of an eye or memory stored on your computer. In the era of online trading, art such as this is sorely missed. The commentary is not particularly deep, however the art and the history is, for lack of a better word, neat. I think this book is well suited for the coffee table and a nice reminder of how things were "back then."

Great business history
I received this book as a gift, and was struck at first by its amazing "look"--it has top-notch graphics. The individual stock certificates are remarkable, and the book's authors make these images come to life as symbols of American business. The engraving of the certificates is treated as a vanishing art form, and this collection offers a reminder of just what is being lost as the market becomes more and more "virtual." At a time when more Americans own stock than ever before--and almost none of them, as the authors point out, have ever seen a stock certificate--this book represents nothing less than a hidden history of an American institution. I would recommend it to anyone interested in the stock market, but also to anyone interested in the history of American business and its influence on our culture.

Fantastic book for scripophily!
Wonderfully illustrated book showing the true definition of financial art. Beautiful full-color illustrations of stock certificates. Best part of the book is the price. Very affordable (a bargain for the art!)

A book where research of companies is at a minimum
I received this book for Christmas and just spent ten minutes laughing at the history of Xerox. The authors called the company's beginnings as the Harold company, then changed its name to the Harold Xerox Company. The original company's name was the Haloid Company, not the Harold Company. In my ten minutes of reading there was 4 more errors of company names or historical facts of the stock certificates. I did not read the "history" portion but feel if the authors can't get the histories of Xerox, Exxon, Playboy, Admiral, etc correct, why bother....The stock certificates are admirable, though

Absolutely stunning
I've just received it, so I haven't had time to sit down and read it, but the design and production values are excellent. My stockbroker will be getting this one for Christmas--he's done very well for me this year. ... Read more

Book Description

Praise for Private Equity

"Harold Bierman has blended an excellent mix of important principles with real case study examples for a better understanding on a rather sophisticated finance subject."
–Edward M. Dudley, Vice President & General Auditor, ABB Americas

"The role of private equity firms in financing buyouts as well as providing growth capital has expanded significantly in the past decade. In a clear, concise way, Harold Bierman provides a timely and astute analysis of the virtues of private equity as well as creative quantitative methodologies that are applicable to real-life transactions. This book should become essential reading for investors, intermediaries, financial advisors and the management of private, almost private, or soon-to-be private firms."
–James A. Rowan Jr., Managing Director, Investment Banking
Legg Mason Wood Walker, Inc.

"As the private equity asset class has grown to over $300 billion in the last three years, Bierman analyzes the fundamentals behind the investment decisions of this increasingly important sector. Once completing the book, you will understand the fundamental analytical framework underlying private equity investment."
–Peter Nolan, Partner, Leonard Green and Partners

"In looking at the private equity arena, Professor Bierman has brought together a diverse group of metrics and valuation formulas into a single text. The book provides a valuable combination of academic theory and real-life case studies. It provides many insights."
–Peter H. Vogel, Vice President, MeadWestvaco Corporation ... Read more

Book Description

Gain the knowledge and skills that can help you exploit instability. Forecasting Financial and Economic Cycles No book can help you construct foolproof forecasting systems that will ensure you’ll accurately predict economic turning points every time. But with Niemira and Klein’s Forecasting Financial and Economic Cycles on hand, you’ll be able to significantly strengthen your ability to measure, monitor, and forecast important fluctuations. Part history, it provides you with essential background material on the characteristics and causes of economic volatility. It offers accessible coverage of the classical business cycle, the five basic types of economic cycles as determined by leading economists, and evolving ideas on the forces driving instability—ranging from simple unicausal theories, more complex Keynesian theory, to new classical macroeconomics. In addition, its concise review of America’s economic past highlights the lessons that can be learned from the various cycles experienced since shortly before World War II. Part handbook, Forecasting Financial and Economic Cycles presents the full spectrum of statistical techniques used to measure cycles, trends, seasonal patterns, and other vital changes, offering you step-by-step guidance on applying a specific method and detailing its uses and limitations. It goes on to show how you can adapt particular techniques to assess, track, and predict:

• Industry cycles—including an objective, tailor-made forecasting tool
• Regional business cycles—including a survey of regional indicators
• International business cycles—with an international business cycle chronology
• Inflation cycles—plus "12 little-known facts" about this complex cycle
• Financial cycles—covering credit, monetary, and interest rate cycles
• Stock market cycles—with advice on achieving more disciplined trading

Book Description

Did you know that you can generate substantial amounts of cash on stocks without buying or selling them? Are you aware that you can recover losses of 90% or more on stocks using simple" outside the box strategies" that require little or no out of pocket cash. Would you like to turn any stock you own into a winner?

In this book Dr. Samir Elias will show you how you can use a low risk highly effective system to accomplish these goals and more. After reading this book you will learn how to:

* Generate thousands in cash on your losing stock without having to sell and take losses. The author shows you how you can generate thousands of dollars on the samestock in a single month using actual examples. In one real life example, the author shows how he reduced his cost basis from $10 to $5 while raising over $26,000 and making a 500% profit on selling the stock
* Reduce your cost basis on stocks you own without out of pocket cash. Watch how an investor buys a stock at $93 and comes out a winner as it drops to $30 while raising $21,000 in cash.
* Increase your profits on winning stocks by getting a premium to the market price when you sell. Watch how in one example the author achieves a $14,000 premium over market when selling the stock.
* Generate cash on stocks you do not own before buying them. Follow play by play how an investor raised $20,000 on a stock as he is in the process of buying it. This is an actual example that took place between June and August 2001.
* Ina special chapter you can also learn how use other peoples money to generate thousands on stocks below $5. The amounts of cash you can raise by implementing this strategy will amaze you.
* The author describes simple but powerful timing techniques including: the 102030 test, Tell tale spikes (especially important for stocks below $5), the principle of Fading Momentum and the 75% rule to help you maximize your cash generation. In one of the chapters the author shows 6 real life examples with charts on how to successfully implement these principles.

The author's objective is to show you how to use the tools in the book to make money, so he focuses on applying each and every concept in the book to real life situations with trades that he executed himself.

"You may not have the power to control the wind but you can control your sails." This book will show you how to adjust your strategy to be profitable no matter what this crazy market throws at you. ... Read more

Reviews (11)

Absolutely unbelievable profits
I have purchased this book and belong to the author's private chat room and was able to achieve consistent double digit monthly returns. This is based on an earnings squeeze strategy that I have been using by applying the principles described in the book using a combination of option and stock positions.
My strategy involves using the idea presented by the author in the book and chat room on betting against the majority but with the trend. I have used this concept to look for stocks showing a high level of negative crowd sentiment as reflected by a high put volume and short interest but positive technical signals. Such indicators will result in a lethal profit combination at earnings time. So every week I identify stocks reporting earnings that show such signals and then take a combination of stock and option positions using strategies in the book.
I would admit that belonging to the authors private internet chat room ,which is kind of expensive in absolute terms but cheap when you consider the returns, was a big help. The good news is that many investors will be soon able to experience similar returns by belonging to the public version at a much lower cost . I decided not to mention the site name