Now available for the first time in paperback!
The Classic Text Annotated to Update Graham's Timeless Wisdom for Today's Market Conditions
The greatest investment advisor of the twentieth century, Benjamin Graham taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949.
Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles.
Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most important book you will ever read on how to reach your financial goals.
After decades of research, world-renowned Stanford University psychologist Carol S. Dweck, Ph.D., discovered a simple but groundbreaking idea: the power of mindset. In this brilliant book, she shows how success in school, work, sports, the arts, and almost every area of human endeavor can be dramatically influenced by how we think about our talents and abilities. People with a fixed mindset—those who believe that abilities are fixed—are less likely to flourish than those with a growth mindset—those who believe that abilities can be developed. Mindset reveals how great parents, teachers, managers, and athletes can put this idea to use to foster outstanding accomplishment.
In this edition, Dweck offers new insights into her now famous and broadly embraced concept. She introduces a phenomenon she calls false growth mindset and guides people toward adopting a deeper, truer growth mindset. She also expands the mindset concept beyond the individual, applying it to the cultures of groups and organizations. With the right mindset, you can motivate those you lead, teach, and love—to transform their lives and your own.
Praise for Mindset
“A good book is one whose advice you believe. A great book is one whose advice you follow. This is a book that can change your life, as its ideas have changed mine.”—Robert J. Sternberg, co-author of Teaching for Wisdom, Intelligence, Creativity, and Success
“An essential read for parents, teachers [and] coaches . . . as well as for those who would like to increase their own feelings of success and fulfillment.”—Library Journal (starred review)
“Everyone should read this book.”—Chip Heath and Dan Heath, authors of Made to Stick
“One of the most influential books ever about motivation.”—Po Bronson, author of NurtureShock
“If you manage people or are a parent (which is a form of managing people), drop everything and read Mindset.”—Guy Kawasaki, author of The Art of the Start 2.0
The common theme of all the essays is that current arrangements result less from the accomplishments of great men than man-made institutions that society has inherited--central banks and "the legal and regulatory frameworks that accompany them. The contributors emphasize the impact of political interference on the workings of monetary and financial institutions. Not surprisingly, they find many problems arise because politically generated structures are inappropriate to the real needs of the individuals and groups they are meant to serve. "Money and the Nation State "provides an essential framework for those willing to return to first principles in thinking about the role of monetary institutions in economic life. Economists, financial theorists, and the interested citizen will find it stimulating reading.
America’s most successful money manager tells how average investors can beat the pros by using what they know. According to Lynch, investment opportunities are everywhere. From the supermarket to the workplace, we encounter products and services all day long. By paying attention to the best ones, we can find companies in which to invest before the professional analysts discover them. When investors get in early, they can find the “tenbaggers,” the stocks that appreciate tenfold from the initial investment. A few tenbaggers will turn an average stock portfolio into a star performer.
Lynch offers easy-to-follow advice for sorting out the long shots from the no-shots by reviewing a company’s financial statements and knowing which numbers really count. He offers guidelines for investing in cyclical, turnaround, and fast-growing companies.
As long as you invest for the long term, Lynch says, your portfolio can reward you. This timeless advice has made One Up on Wall Street a #1 bestseller and a classic book of investment know-how.
Over the last thirty years, capital markets have been restructured through the tenets of modern finance. This has been enormously profitable for the financial services sector. However, these innovations, coupled with unsound risk and regulatory practices have proved disastrous for the global economy.
In a clear and accessible style, ex-investment banker and financial journalist Martin Hutchinson, and highly respected academic, Kevin Dowd show how modern finance combined with easy money threatened to bring down the world financial system. At the heart of the book is modern finance as a U.S. invention, the theories and practices associated with them, and the changes they made in business models and risk management on Wall Street and other major financial centers.Breaks down the events involved in the 2007-08 financial collapse Reveals how botched policy response made a bad situation worse Focuses on lessons that the practice of finance must learn from recent events
The Alchemists of Loss will help you to understand how our financial system crashed and show you what it will take to make sure this won't happen again as we move forward.
This complete summary of the ideas from Robert Kiyosaki and Sharon Lechter's book "Rich Dad, Poor Dad" shows that what is in your head ultimately determines what is in your hands: if you want to improve your circumstances, you need to change the way you think. This summary highlights the importance of educating yourself and developing financial intelligence by spending time with successful people, reading books, and attending seminars. All in all, this summary shows that your life will be more rewarding and more fulfilling if you just take the time to learn and think about where you’re heading.
Added-Value of this summary:
• Save time
• Understand the key concepts
• Expand your business knowledge
To learn more, read "Rich Dad, Poor Dad" and discover that the path to financial wealth does not lie in playing it safe. It’s far more important to play it smart.
“[Taleb is] Wall Street’s principal dissident. . . . [Fooled By Randomness] is to conventional Wall Street wisdom approximately what Martin Luther’s ninety-nine theses were to the Catholic Church.”
–Malcolm Gladwell, The New Yorker
Finally in paperback, the word-of-mouth sensation that will change the way you think about the markets and the world.This book is about luck: more precisely how we perceive luck in our personal and professional experiences.
Set against the backdrop of the most conspicuous forum in which luck is mistaken for skill–the world of business–Fooled by Randomness is an irreverent, iconoclastic, eye-opening, and endlessly entertaining exploration of one of the least understood forces in all of our lives.
From the Trade Paperback edition.
The Buy Side, by former Galleon Group trader Turney Duff, portrays an after-hours Wall Street culture where drugs and sex are rampant and billions in trading commissions flow to those who dangle the most enticements. A remarkable writing debut, filled with indelible moments, The Buy Side shows as no book ever has the rewards – and dizzying temptations – of making a living on the Street.
Growing up in the 1980’s Turney Duff was your average kid from Kennebunk, Maine, eager to expand his horizons. After trying – and failing – to land a job as a journalist, he secured a trainee position at Morgan Stanley and got his first feel for the pecking order that exists in the trading pits. Those on the “buy side,” the traders who make large bets on whether a stock will rise or fall, are the “alphas” and those on the “sell side,” the brokers who handle their business, are eager to please.
How eager to please was brought home stunningly to Turney in 1999 when he arrived at the Galleon Group, a colossal hedge-fund management firm run by secretive founder Raj Rajaratnam. Finally in a position to trade on his own, Turney was encouraged to socialize with the sell side and siphon from his new broker friends as much information as possible. Soon he was not just vacuuming up valuable tips but also being lured into a variety of hedonistic pursuits. Naïve enough to believe he could keep up the lifestyle without paying a price, he managed to keep an eye on his buy-and-sell charts and, meanwhile, pondered the strange goings on at Galleon, where tens of millions were being made each week in sometimes mysterious ways.
At his next positions, at Argus Partners and J.L. Berkowitz, Turney climbed to even higher heights – and, as it turned out, plummeted to even lower depths – as, by day, he solidified his reputation one of the Street’s most powerful healthcare traders, and by night, he blazed a path through the city’s nightclubs, showing off his social genius and voraciously inhaling any drug that would fill the void he felt inside.
A mesmerizingly immersive journey through Wall Street’s first millennial decade, and a poignant self portrait by a young man who surely would have destroyed himself were it not for his decision to walk away from a seven-figure annual income, The Buy Side is one of the best coming-of-age-on-the-Street books ever written.
From the Hardcover edition.
The financial crisis that exploded in 2008 isn’t past but prologue. The grifter class—made up of the largest players in the financial industry and the politicians who do their bidding—has been growing in power, and the crisis was only one terrifying manifestation of how they’ve hijacked America’s political and economic life.
Matt Taibbi has combined deep sources, trailblazing reportage, and provocative analysis to create the most lucid, emotionally galvanizing account yet written of this ongoing American crisis. He offers fresh reporting on the backroom deals of the bailout; tells the story of Goldman Sachs, the “vampire squid wrapped around the face of humanity”; and uncovers the hidden commodities bubble that transferred billions of dollars to Wall Street while creating food shortages around the world.
This is essential reading for anyone who wants to understand the labyrinthine inner workings of this country, and the profound consequences for us all.
How do we find hot stocks without getting burned? How do we fatten our portfolios and stay financially healthy? Former hedge-fund manager and longtime Wall Street commentator Jim Cramer explains how to invest wisely in chaotic times, and he does so in plain English in a style that is as much fun as investing is—or should be, when it’s done right.
For starters, Cramer recommends devoting a portion of your assets to speculation. Everyone wants to find the big winners that can bring outsized gains, and Cramer explains how to allocate your portfolio so that you can afford to take this kind of risk wisely. He explains why “buy and hold” is a losing philosophy: For Cramer, it’s “buy and homework.” If you can’t spend an hour a week researching each of your stocks, then you should hand off your portfolio to a mutual fund—and Cramer identifies the very few mutual funds that he’d recommend.
Cramer reveals his Ten Commandments of Trading (Commandment #5: Tips are for waiters). He explains why he’s not afraid to compare investing to gambling (and tells you which book on gambling you should read to become a better investor). He discloses his Twenty-Five Rules of Investing (Rule #4: Look for broken stocks, not broken companies).
Cramer shows how to compare stock prices in a way that you can understand, how to spot market tops and bottoms, how to know when to sell, how to rotate among cyclical stocks to catch the big moves, and much more. Jim Cramer’s Real Money is filled with insider advice that really works, information that Cramer himself used to make millions during his fourteen-year career on Wall Street.
Written in Cramer’s distinctive turbocharged style, this is every investor’s guide to what you really must know to make big money in the stock market.
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, 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.
In Beating the Street, Lynch for the first time explains how to devise a mutual fund strategy, shows his step-by-step strategies for picking stock, and describes how the individual investor can improve his or her investment performance to rival that of the experts.
There’s no reason the individual investor can’t match wits with the experts, and this book will show you how.
Do you dream of trading online from the comfort of your own home? Of making money with the click of a mouse? Would you like to discover the forex trading strategies used by professional FX traders? Harvey Walsh lifts the curtain and invites you into the lucrative world of currency trading.
Written in his trademark plain English, this jargon-free book takes you through everything you need to know in order to start trading the foreign exchange market.
Just some of the things you will discover inside:
• What money really is, and how currencies work.
• What makes currency prices move, and how you can use that information to make money.
• Precise forex trading strategies you can start using today.
• How to make your own unique, profitable trading setups to give yourself an extra edge.
• The tricks your mind is playing on you when you trade, and how to turn them to your advantage.
When you've read this book, you will be able to:
• Choose a forex broker and open an account.
• Set up currency charts.
• Read your charts and spot excellent trading opportunities.
• Understand and use the different order types.
• Make trades that can make you money whether prices are rising or falling.
• Manage your money, and your mind, for maximum success.
"The most entertaining book written on investing is Reminiscences of a Stock Operator, by Edwin Lefèvre, first published in 1923."
—The Seattle Times
"After twenty years and many re-reads, Reminiscences is still one of my all-time favorites."
—Kenneth L. Fisher, Forbes
"A must-read classic for all investors, whether brand-new or experienced."
—William O'Neil, founder and Chairman, Investor's Business Daily
"Whilst stock market tomes have come and gone, this remains popular and in print eighty years on."
First published in 1923, Reminiscences of a Stock Operator is the most widely read, highly recommended investment book ever. Generations of readers have found that it has more to teach them about markets and people than years of experience. This is a timeless tale that will enrich your life—and your portfolio.
Vince Lombardi--loved by some, feared by others, but respected by all--was first and foremost a winner. The greatest sports coach of his time, perhaps of all time, Lombardi was also a thoughtful man with uncommon passion, a motivator with uncompromising values, and a leader with unprecedented wisdom and authority.
More than three decades since Lombardi's untimely passing, his words continue to resonate. In The Lombardi Rules, Vince Lombardi Jr. examines many of his father's most celebrated quotes to reveal the bedrock principles behind his legendary success. This concise yet comprehensive book is packed with proven insights and techniques that are especially valuable in today's hard-fought business arena, including:Ask yourself tough questions Play to your strengths Work harder than anybody Be prepared to sacrifice Be mentally tough Know your stuff Demand autonomy Act, don't react Keep it simple Focus on fundamentals Chase perfection Run to win
Vince Lombardi's uncanny ability to motivate others, along with his insatiable drive for victory, made him the standard against which leaders in very field are measured. The Lombardi Rules provides an insider's look at Lombardi's extraordinary methods, and shows you how to adapt and adopt those methods for leadership success in your own career.
This book answers the beginning investor’s questions, including:
• Finding and choosing a discount broker
• Managing brokerage fees
• Growth stocks vs. dividends
• The difference between mutual funds, index funds, and ETFs
• How to make your first trade
Quick and easy to read, and packed full of useful information, this book decodes investment jargon into plain language and gives the beginner a solid toolkit for learning the ways of the market.
A broad range of topics are covered, including budgeting, investing, managing credit, as well as quick and effective ways of getting rid of debt. The language is kept simple, so that readers of all backgrounds will be able to understand and apply the principles discussed. This text is not exclusively for people in their twenties. Any age group can benefit from this sound financial advice.
- Learn new and reliable ways to stay out of debt, save money, and still enjoy the fruits of you labor during these tough economics times
- Discover proven methods of how to save money for the future, and beat inflation
- Get advice from a person who lived through hard financial lessons so that you don't have to
There is no need to delay this investment into your financial future. Prepare to have you wallet be forever changed.
This complete summary of the ideas from Robert Kiyosaki and Sharon Lechter's book "Rich Dad's Guide to Investing" explains that the rich position themselves as one of three general types of investors (sophisticated, inside, and ultimate investor) and invest in three different areas 'Education, Experience, and Excessive Cash'. This summary will allow you to identify these types and areas, thus changing your view on investing and allowing you to use your newly acquired knowledge to improve your own circumstances.
Added-value of this summary:
• Save time
• Understand the key principles
• Expand your business knowledge
To learn more, read "Rich Dad's Guide to Investing" and discover the investment habits of the rich.
At last, here's good news.
Jargon-free and written for all investors-experienced, beginner, and everyone in between-THE INVESTMENT ANSWER distills the process into just five decisions-five straightforward choices that can lead to safe and sound ways to manage your money.
When Wall Street veteran Gordon Murray told his good friend and financial advisor, Dan Goldie, that he had only six months to live, Dan responded, "Do you want to write that book you've always wanted to do?" The result is this eminently valuable primer which can be read and understood in one sitting, and has advice that benefits you, not Wall Street and the rest of the traditional financial services industry.
THE INVESTMENT ANSWER asks readers to make five basic but key decisions to stack the investment odds in their favor. The advice is simple, easy-to-follow, and effective, and can lead to a more profitable portfolio for every investor. Specifically:
* Should I invest on my own or seek help from an investment professional?
* How should I allocate my investments among stocks, bonds, and cash?
* Which specific asset classes within these broad categories should I include in my portfolio?
* Should I take an actively managed approach to investing, or follow a passive alternative?
* When should I sell assets and when should I buy more?
In a world of fast-talking traders who believe that they can game the system and a market characterized by instability, this extraordinary and timely book offers guidance every investor should have.
In The Little Book, Joel Greenblatt, Founder and Managing Partner at Gotham Capital (with average annualized returns of 40% for over 20 years), does more than simply set out the basic principles for successful stock market investing. He provides a "magic formula" that is easy to use and makes buying good companies at bargain prices automatic. Though the formula has been extensively tested and is a breakthrough in the academic and professional world, Greenblatt explains it using 6th grade math, plain language and humor. You'll learn how to use this low risk method to beat the market and professional managers by a wide margin. You'll also learn how to view the stock market, why success eludes almost all individual and professional investors, and why the formula will continue to work even after everyone "knows" it.
Many investors, including some with substantial portfolios, have only the sketchiest idea of how the stock market works. The reason, say Lynch and Rothchild, is that the basics of investing—the fundamentals of our economic system and what they have to do with the stock market—aren’t taught in school. At a time when individuals have to make important decisions about saving for college and 401(k) retirement funds, this failure to provide a basic education in investing can have tragic consequences.
For those who know what to look for, investment opportunities are everywhere. The average high-school student is familiar with Nike, Reebok, McDonald’s, the Gap, and the Body Shop. Nearly every teenager in America drinks Coke or Pepsi, but only a very few own shares in either company or even understand how to buy them. Every student studies American history, but few realize that our country was settled by European colonists financed by public companies in England and Holland—and the basic principles behind public companies haven’t changed in more than three hundred years.
In Learn to Earn, Lynch and Rothchild explain in a style accessible to anyone who is high-school age or older how to read a stock table in the daily newspaper, how to understand a company annual report, and why everyone should pay attention to the stock market. They explain not only how to invest, but also how to think like an investor.
Want to know the strategies of successful swing trading? This friendly guide covers the ins and outs of this risky but profitable investing approach, explaining all the basics in plain English. You'll see how to use the two investment approaches - technical and fundamental analysis - to indentify promising securities in strongly trending markets. In addition, this guide covers how to calculate investment returns and, most important, how to manage your portfolio's risk.Learn from a highly experienced trader, analyst, and portfolio manager - the author shares his insider knowledge Understand often overlooked topics such as money management, journal keeping, and strategy planning - key areas that will largely determine your success Focus on the fundamentals - often overlooked by swing traders, fundamental analysis can increase your chance of success Determine your entry and exit points with technical analysis - read charts, apply indicators, and compare markets Evaluate companies with fundamental analysis - grasp the basics of financial statements and the criteria to screen for undervalued or overvalued stocks Develop and implement your trading plan - outline what you trade and how often, decide your risk tolerance, and calculate your performance
Open the book and find:The differences among swing trading, day trading, and buy-and-hold investing The pros and cons of technical and fundamental analysis A step-by-step anatomy of a trade A wealth of charts and screenshots Real-world examples of swing trading successes The 10 deadly sins of swing trading - avoid at all costs! Sample trading plans Useful resources for navigating data
Written in an accessible, easy-to-read style, this new edition of Understanding Options provides everything you need to get started on the right foot in the increasingly popular options market.
You'll learn what options are and how they work, their pros and cons, their relationship with stocks, and how to use them to gain leverage, generate extra income, and protect against adverse price movements. Understanding Options covers everything that has made it the go-to guide for novice investors--plus it has brand-new information and features, including:Updated facts, charts, and figures Expanded coverage of collars, credit and debit spreads, mini-options, the Greeks, and protective puts Key strategy insights from master options traders A critical look at trading options on ETFs
Options simply are not as confusing as the other books make them seem. Written specifically for the novice, Understanding Options is the best, most inviting guide available for building a solid foundation in options investing.
What happens when ordinary people are taught a system to make extraordinary money? Richard Dennis made a fortune on Wall Street by investing according to a few simple rules. Convinced that great trading was a skill that could be taught to anyone, he made a bet with his partner and ran a classified ad in the Wall Street Journal looking for novices to train. His recruits, later known as the Turtles, had anything but traditional Wall Street backgrounds; they included a professional blackjack player, a pianist, and a fantasy game designer. For two weeks, Dennis taught them his investment rules and philosophy, and set them loose to start trading, each with a million dollars of his money. By the time the experiment ended, Dennis had made a hundred million dollars from his Turtles and created one killer Wall Street legend.
In The Complete Turtle Trader, Michael W. Covel, bestselling author of Trend Following and managing editor of TurtleTrader.com, the leading website on the Turtles, tells their riveting story with the first ever on the record interviews with individual Turtles. He describes how Dennis interviewed and selected his students, details their education and experiences while working for him, and breaks down the Turtle system and rules in full. He reveals how they made astounding fortunes, and follows their lives from the original experiment to the present day. Some have grown even wealthier than ever, and include some of today's top hedge fund managers. Equally important are those who passed along their approach to a second generation of Turtles, proving that the Turtles' system truly is reproducible, and that anyone with the discipline and the desire to succeed can do as well as—or even better than—Wall Street's top hedge fund wizards.
In an era full of slapdash investing advice and promises of hot stock tips for "the next big thing," as popularized by pundits like Jim Cramer of Mad Money, the easy-to-follow objective rules of the TurtleTrader stand out as a sound guide for truly making the most out of your money. These rules worked—and still work today—for the Turtles, and any other investor with the desire and commitment to learn from one of the greatest investing stories of all time.
What differentiates the highly successful market practitioners—the Market Wizards—from ordinary traders? What traits do they share? What lessons can the average trader learn from those who achieved superior returns for decades while still maintaining strict risk control? Jack Schwager has spent the past 25 years interviewing the market legends in search of the answers—a quest chronicled in four prior Market Wizards volumes totaling nearly 2,000 pages.
In The Little Book of Market Wizards, Jack Schwager seeks to distill what he considers the essential lessons he learned in conducting nearly four dozen interviews with some of the world's best traders. The book delves into the mindset and processes of highly successful traders, providing insights that all traders should find helpful in improving their trading skills and results.Each chapter focuses on a specific theme essential to market success Describes how all market participants can benefit by incorporating the related traits, behaviors, and philosophies of the Market Wizards in their own trading Filled with compelling anecdotes that bring the trading messages to life, and direct quotes from the market greats that resonate with the wisdom born of experience and skill
Stepping clearly outside the narrow confines of most investment books, The Little Book of Market Wizards focuses on the value of understanding one's self within the context of successful investing.
THE EASY WAY TO GET STARTED
Everything You Need to Know About How To:
Trying to outwit the market is a bad gamble. If you're serious about investing for the long run, you have to take a no-nonsense, businesslike approach to your portfolio. In addition to covering all the basics, this new edition of All About Asset Allocation includes timely advice on:Learning which investments work well together and why Selecting the right mutual funds and ETFs Creating an asset allocation that’s right for your needs Knowing how and when to change an allocation Understanding target-date mutual funds
"All About Asset Allocation offers advice that is both prudent and practical--keep it simple, diversify, and, above all, keep your expenses low--from an author who both knows how vital asset allocation is to investment success and, most important, works with real people." -- John C. Bogle, founder and former CEO, The Vanguard Group
"With All About Asset Allocation at your side, you'll be executing a sound investment plan, using the best materials and wearing the best safety rope that money can buy." -- William Bernstein, founder, Effi cientFrontier.com, and author, The Intelligent Asset Allocator
Neil Irwin’s The Alchemists is a gripping account of the most intense exercise in economic crisis management we’ve ever seen, a poker game in which the stakes have run into the trillions of dollars. The book begins in, of all places, Stockholm, Sweden, in the seventeenth century, where central banking had its rocky birth, and then progresses through a brisk but dazzling tutorial on how the central banker came to exert such vast influence over our world, from its troubled beginnings to the Age of Greenspan, bringing the reader into the present with a marvelous handle on how these figures and institutions became what they are – the possessors of extraordinary power over our collective fate. What they chose to do with those powers is the heart of the story Irwin tells.
Irwin covered the Fed and other central banks from the earliest days of the crisis for the Washington Post, enjoying privileged access to leading central bankers and people close to them. His account, based on reporting that took place in 27 cities in 11 countries, is the holistic, truly global story of the central bankers’ role in the world economy we have been missing. It is a landmark reckoning with central bankers and their power, with the great financial crisis of our time, and with the history of the relationship between capitalism and the state. Definitive, revelatory, and riveting, The Alchemists shows us where money comes from—and where it may well be going.
Colin Powell rose from the hardscrabble streets of the Bronx to become the man Newsweek calls "...the most respected figure in American public life." Let The Powell Principles introduce you to the principles that drove him to the top and provide you with a blueprint for inspiring anyone--including yourself--to achieve extraordinary levels of professional success.
Before Jim Rogers hit the road to write his bestselling books Investment Biker and Adventure Capitalist, he was one of the world’s most successful investors. He cofounded the Quantum Fund and made so much money that he never needed to work again. Yet despite his success, Rogers has never written a book of practical investment advice–until now.
In Hot Commodities, Rogers offers the lowdown on the most lucrative markets for today and tomorrow. In 1998, gliding under the radar, a bull market in commodities began. Rogers thinks it’s going to continue for at least fifteen years–and he’s put his money where his mouth is: In 1998, he started his own commodities index fund. It’s up 165% since then, with more than $200 million invested, and it’s the single-best performing index fund in the world in any asset class. Less risky than stocks and less sluggish than bonds,, commodities are where the money is–and will be in the years ahead. Rogers’s strategies are simple and straightforward. You can start small–a few thousand dollars will suffice. It’s all about putting your money into stuff you understand, the basic materials of everyday life, like coal, sugar, cotton, corn, or crude oil. Once you recognize the cyclical and historical trading patterns outlined here, you’ll be on your way.
In language that is both colorful and accessible, but Rogers explains why the world of commodity investing can be one of the simplest of all–and how commodities are the bases by which investors can value companies, markets, and whole economies. To be a truly great investor is to know something about commodities.
For small investors and high rollers alike, Hot Commodities is as good as gold . . . or lead, or aluminum, which are some of the commodities Rogers says could be as rewarding for investors.
From the Hardcover edition.
In the summer of 2007, the markets began to implode, bringing Paulson early profits, but also sparking efforts to rescue real estate and derail him. By year's end, though, John Paulson had pulled off the greatest trade in financial history, earning more than $15 billion for his firm--a figure that dwarfed George Soros's billion-dollar currency trade in 1992. Paulson made billions more in 2008 by transforming his gutsy move. Some of the underdog investors who attempted the daring trade also reaped fortunes. But others who got the timing wrong met devastating failure, discovering that being early and right wasn't nearly enough.
Written by the prizewinning reporter who broke the story in The Wall Street Journal, The Greatest Trade Ever is a superbly written, fast-paced, behind-the-scenes narrative of how a contrarian foresaw an escalating financial crisis--that outwitted Chuck Prince, Stanley O'Neal, Richard Fuld, and Wall Street's titans--to make financial history.
From the Hardcover edition.
The rise over the last two decades of a powerful new class of billionaire financiers marks a singular shift in the American economic and political landscape. Their vast reserves of concentrated wealth have allowed a small group of big winners to write their own rules of capitalism and public policy. How did we get here? Through meticulous reporting and powerful storytelling, New Yorker staff writer Sheelah Kolhatkar shows how Steve Cohen became one of the richest and most influential figures in finance—and what happened when the Justice Department put him in its crosshairs.
Cohen and his fellow pioneers of the hedge fund industry didn’t lay railroads, build factories, or invent new technologies. Rather, they made their billions through speculation, by placing bets in the market that turned out to be right more often than wrong—and for this they have gained not only extreme personal wealth but formidable influence throughout society. Hedge funds now manage nearly $3 trillion in assets, and competition between them is so fierce that traders will do whatever they can to get an edge.
Cohen was one of the industry’s greatest success stories. He mastered poker in high school, went off to Wharton, and in 1992 launched SAC Capital, which he built into a $15 billion empire, almost entirely on the basis of his wizardlike stock trading. He cultivated an air of mystery, reclusiveness, and extreme excess, building a 35,000 square foot mansion in Greenwich, Connecticut, and amassing one of the largest private art collections in the world. On Wall Street, Cohen was revered as a genius.
That image was shattered when SAC became the target of a sprawling, seven-year government investigation. Labeled by prosecutors as a “magnet for market cheaters” whose culture encouraged the relentless hunt for “edge”—and even “black edge,” or inside information—SAC was ultimately indicted in connection with a vast insider trading scheme, even as Cohen himself was never charged.
Black Edge offers a revelatory look at the gray zone in which so much of Wall Street functions, and a window into the transformation of the U.S. economy. It’s a riveting, true-life legal thriller that takes readers inside the government’s pursuit of Cohen and his employees, and raises urgent questions about the power and wealth of those who sit at the pinnacle of modern Wall Street.
Praise for Black Edge
“A modern version of Moby-Dick, with wiretaps rather than harpoons.”—Jennifer Senior, The New York Times
“If you liked James B. Stewart’s Den of Thieves, Sheelah Kolhatkar’s thrilling Black Edge should be next on your reading list.”—The Wall Street Journal
“A lot of people do not trust Wall Street. They regard it as a moneymaking machine for those who work there, which has little interest in practice in its stated aim of channeling capital into businesses and helping them to grow for the broader benefit of society. For such skeptics, Steven Cohen is Exhibit A.”—John Gapper, Financial Times
“A richly reported, entertaining tale about the cat-and-mouse game between the government and Cohen.”—Andrew Ross Sorkin, The New York Times Book Review
In a straightforward and accessible manner, The Dhandho Investor lays out the powerful framework of value investing. Written with the intelligent individual investor in mind, this comprehensive guide distills the Dhandho capital allocation framework of the business savvy Patels from India and presents how they can be applied successfully to the stock market. The Dhandho method expands on the groundbreaking principles of value investing expounded by Benjamin Graham, Warren Buffett, and Charlie Munger. Readers will be introduced to important value investing concepts such as "Heads, I win! Tails, I don't lose that much!," "Few Bets, Big Bets, Infrequent Bets," Abhimanyu's dilemma, and a detailed treatise on using the Kelly Formula to invest in undervalued stocks. Using a light, entertaining style, Pabrai lays out the Dhandho framework in an easy-to-use format. Any investor who adopts the framework is bound to improve on results and soundly beat the markets and most professionals.
In the fourteen years between his time in New York with value-investing guru Benjamin Graham and his start as chairman of Berkshire Hathaway, Warren Buffett managed Buffett Partnership Limited, his first professional investing partnership. Over the course of that time—a period in which he experienced an unprecedented record of success—Buffett wrote semiannual letters to his small but growing group of partners, sharing his thoughts, approaches, and reflections.
Compiled for the first time and with Buffett’s permission, the letters spotlight his contrarian diversification strategy, his almost religious celebration of compounding interest, his preference for conservative rather than conventional decision making, and his goal and tactics for bettering market results by at least 10% annually. Demonstrating Buffett’s intellectual rigor, they provide a framework to the craft of investing that had not existed before: Buffett built upon the quantitative contributions made by his famous teacher, Benjamin Graham, demonstrating how they could be applied and improved.
Jeremy Miller reveals how these letters offer us a rare look into Buffett’s mind and offer accessible lessons in control and discipline—effective in bull and bear markets alike, and in all types of investing climates—that are the bedrock of his success. Warren Buffett’s Ground Rules paints a portrait of the sage as a young investor during a time when he developed the long-term value-oriented strategy that helped him build the foundation of his wealth—rules for success every investor needs today.
With this book, Brooks—a technical analyst for Futures magazine and an independent trader—demonstrates how applying price action analysis to chart patterns can help enhance returns and minimize downside risk. Along the way, you'll discover the importance of understanding every bar on a price chart, why particular patterns are reliable setups for trades, and how to locate entry and exit points as markets are trading in real time.
Throughout these pages, some of the most useful tools for deciphering price action are covered in detail, including:
Trendlines and trend channel lines
Prior highs and lows
Breakouts and failed breakouts
The size of bodies and tails on candles
The relationship between current bars to prior bars
And much more
Learning what the market is telling you can be difficult, but with the right approach, you can achieve this goal and capture consistent profits in the process. Reading Price Charts Bar by Bar has all the information you need to succeed at this endeavor and will put you in the best position possible to make the most of your time in today's turbulent markets.
Praise for Reading Price Charts Bar by Bar
"Al Brooks has written a book every day trader should read. On all levels, he has kept trading simple, straightforward, and approachable. By teaching traders that there are no rules, just guidelines, he has allowed basic common sense to once again rule how real traders should approach the market. This is a must-read for any trader that wants to learn his own path to success."
—Noble DraKoln, founder ofwww.SpeculatorAcademy.com and author of Trade Like a Pro and Winning the Trading Game
"Al Brooks is a trader's trader. He understands the focused energy it takes to be successful at trading and works long, hard hours in front of the computer screen to beat the markets. In his first trading book, he outlines, selflessly, his strategy step by step. A doctor and educator in his previous life, he uses his eye for detail and transfers lessons he learned in training himself on the art of trading to the written page. For those who are willing to delve into the details of day trading and dedicate the time and energy to do it seriously and most likely profitably, Al Brooks's book Reading Price Charts Bar by Bar, is a must-read."
—Ginger Szala, Publisher and Editorial Director, Futures magazine
"Trading the markets is a game of odds. The goal is to improve your odds. The odds of making the greatest profit at the minimum possible risk."
In this book, Ashu explains everything you need to master technical charts. Each of these 15 steps will help you read what the charts are revealing about the market and what and how you should trade. A mastery of charts will hugely improve your trading odds and trading profits:
● How charts reveal the market's collective mood and trading action
● How to use the combination of price, volume and time to confirm price rallies and declines
● How to improve your trades by mastering support and resistance
● How to stop trading losses and protect your gains using stop loss
● How to make money trading accumulation and distribution
● Wait out the head, trade the body and exit at the tail
● How to develop a successful trading plan of your own
● How to read charts for short and long term trading; day trading, swing trading and position trading
● How to find out if a chart may be misleading you
● How to find trades that fit you and will make you money.
PLUS, The Chart Grader Quiz and much, much more!
Ashu Dutt is one of the most visible and respected faces in Indian financial markets. In this book he reveals 15 steps to mastering technical charts used by successful market traders to improve their trading odds:
● Market-tested trading strategies
● Dozens of Trading charts
● Key points highlighted with real-life examples.
Building from the ground up, Buffett chose wisely and picked his stocks with care, in turn amassing the huge fortune for which he is now famous. Mary Buffett, former daughter-in-law of this legendary financial genius and a successful businesswoman in her own right, has teamed up with noted Buffettologist David Clark to create Buffettology, a one-of-a-kind investment guide that explains the winning strategies of the master.
* Learn how to approach investing the way Buffett does, based on the authors' firsthand knowledge of the secrets that have made Buffett the world's second wealthiest man
* Use Buffett's proven method of investing in stocks that will continue to grow over time
* Master the straightforward mathematical equipments that assist Buffett in making investments
* Examine the kinds of companies that capture Buffett's interest, and learn how you can use this information to make your own investment choices of the future
Complete with profiles of fifty-four "Buffett companies" -- companies in which Buffett has invested and which the authors believe he continues to follow -- Buffettology can show any investor, from beginner to savvy pro, how to create a profitable portfolio.
"Set it and forget it" investing, with less risk and higher returns
Get Rich with Dividends is the bestselling dividend-investing book that shows investors how to achieve double-digit returns using a time-tested conservative strategy. Written by a nineteen-year veteran of the equity markets, this invaluable guide shows you how to set up your investments for minimal maintenance and higher returns, so you can accumulate wealth while you focus on the things that matter. Using the author's proprietary 10-11-12 system, you'll learn how to generate the income you need on a quarterly or even monthly basis. You'll discover the keys to identifying stocks that will return twelve percent or more every year, and how to structure your investments for greater security and financial well being. This method is so easy to use, you'll want to teach it to your children early to set them up for financial independence and help them avoid the problems that plagued many investors over the past decade.
Dividends are responsible for 44 percent of the S&P 500's returns over the last eighty years. They represent an excellent opportunity today, especially for investors who have been burned in recent meltdowns and are desperate for sensible and less risky ways to make their money grow. This book describes a framework that allows investors to reap higher returns with a low-to-no maintenance plan.Set up an investment system that requires little to no maintenance Achieve double-digit average annualized returns over the long term Focus on other things while your money works for you Increase returns even with below-average growth in share price
Market risk is high and interest rates are low, making it a perfect time to get started on a more sensible wealth generation strategy. With expert guidance toward finding and investing in these unique but conservative and proven stocks, Get Rich with Dividends is the only book on dividend investing you'll ever need.
Solomon was more than just a character in the Bible-he was the richest man who ever lived. If we could learn from him directly, what would he teach us about growth in riches and knowledge? And how can we relate his life and wisdom to the society and successful financial planning of our contemporary world? Bruce Fleet's The Solomon Secret brings together instructional parables highlighting the wisdom of history's wealthiest man, with practical and sound financial advice for twenty- first-century readers.
In the bestselling tradition of The Richest Man in Babylon, The Solomon Secret follows King Solomon as he mentors his young protégé, Abidan, on the seven basic principles of life and their influence on financial success. Each of these parables illustrates a key principle that Abidan must discover before he can garner more wealth and happiness, and is then followed by Fleet's masterful application of these principles to the reader's life and to the most urgent and essential financial questions of our time. Fleet, a successful financial adviser and owner of a large investment firm, draws from the time-honored and historically proven wisdom of the life of the ancient king to offer-through the siphon of his own talent and perspective-the very best in financial strategies for today's challenging economic climate.
An accessible and effective mix of teaching stories with powerful financial lessons, The Solomon Secret is a highly readable, informative guide to becoming wealthy and wise.
This book explains step-by-step how you can make money by trading the powerful and proven candlestick techniques. Here is how:
● Explanation of major candle signals; how to recognize them and use them effectively
● The underlying market psychology revealed by each candle formation
● How to combine candlestick signals with Western technical analysis to take advantage of high probability trades which generate explosive profits
● Stop loss settings for various candlestick signals for cutting losses. Master this and you will be way ahead of fellow traders
● How the use of candlesticks with technical analysis provides a simple mechanical trading system which eliminates emotional interference, panic and greed
● How to use candlestick charts for making money from longer term trading and investing
● PLUS: Proven, market-tested trading ideas tips and common mistakes to avoid based on the author's rich experience of trading stocks and options.
This book will enable both new traders and experienced traders derive systematic and consistent profits from the market by adding candlestick charting to their trading arsenal.
REVIEWS FOR THE BOOK
"Educative addition to the technical trader's shelf." — The Hindu Business Line
"Clearly explains and reinforces the message of each candlestick pattern, pointing out other details that can help determine success or failure at each occurrence. The real life examples are manifold, well chosen and amplify the lessons being taught. Highly recommended reading for traders in all markets to discover ways of profiting from candlestick trading." — Alan Northcott
"Sadekar's book not only manages to live upto the expectations but probably excels them. Sadekar attempts to keep things simple, and targets the beginner to intermediate level technician as his target audience.
Each type of reversal, consolidation and continuation pattern is tackled in individual chapters and illustrated liberally with charts of Indian stocks. The author leaves ample strategies for the not so active trader, also combining Dow theory tools like trend lines, oscillators and moving averages with the oriental techniques. This gives the reader an immediate advantage of getting the best of both the worlds.
While all chapters are interesting read, chapters 11 & 12 are the highlights of the book as they lay out a simple but actionable game plan for a trader and investor. As if the overall package was not sweet enough, Sadekar has compiled a tear-away candlestick ready-reckoner at the end of the book to identify emerging patterns in real time. At its price, the book is a value buy. All in all, a must read book for every freshman candle sticks trader."
— Vijay L. Bhambwani, Technical Analyst, CEO - BSPLIndia.com
Successful options trading requires extensive practice.Most options books offer theory and strategies, but don't offer the practice needed to prepare for real-world trades, where the wrong split-second decisions can cost you dearly. Expert trader Jeff Augen covers every key scenario you'll encounter in modern options trading, guides you through successful trade executions, and shows how to overcome key pitfalls that trip up most traders. You'll walk through trades designed to profit from changing prices and volatility, time decay, rapid price spikes, and many other factors.
This second edition introduces powerful new techniques, and reflects the long-term impacts of the 2009 crash. New problems include:New CBOE Weekly Options Expiration options, and their unique pricing dynamics. Using collars, covered calls, and covered puts to structure income-generating trades with well-defined risk profiles. Using ratio trading, VIX options, volatility ETFs, and variance trading to generate profits from shifts in volatility.
Each section contains beginner, intermediate, and advanced sections, helping you build your skills one trade at a time, no matter how much experience you have--or how little. You'll find several hundred questions, all designed to mirror real life, and supported with clearly explained solutions.
Brown knows exactly what a professional trying to come up to speed on a new trading tool needs and she provides it, covering what Fibonacci analysis is, how it works, where it comes from, pitfalls and dangers, and, of course, how to use it. Basic trading strategies are touched upon in virtually every chapter.
Fibonacci analysis is one of the most popular technical analysis tools, yet it is often used incorrectly. Brown quickly clears up common misconceptions and moves on to show, step by step, the correct way to apply the technique in any market.
Those with Fibonacci analysis software will learn how to use it with maximum effectiveness; those without will chart the market the old-fashioned way. All will find answers to the trader's most important questions: Where is the market going? At what level should my stop be entered? Based on the size of my trading account, how much should I leverage into a trading position? Can I tell if I am in trouble before my stop is hit? How much should I buy or sell if given a second or third opportunity?
Occasional references to other tools--including Elliott Wave, W.D. Gann, and candlestick charts--and an extensive bibliography make this book richer for accomplished technical analysts without confounding the less experienced. Plentiful real-life examples and dozens of carefully annotated charts insure every reader will get maximum value from every minute spent with this book.
Gold Medal Winner (tie), Investing Category, Axiom Business Book Awards (2009)
Winner: Book Series Cover Design, The Bookbinders Guild of New York/2009 New York Book Show Awards
In today’s troubling economic times, the quality of our retirement depends upon our own portfolio management. But for most of us, investing can be stressful and confusing, especially when supposedly expert predictions fail. Enter The 3% Signal. Simple and effective, Kelly’s plan can be applied to any type of account, including 401(k)s—and requires only fifteen minutes of strategizing per quarter. No stress. No noise. No confusion.
By targeting three percent growth and adjusting holdings to meet that goal, even novice investors can level the financial playing field and ensure a secure retirement free from the stress of noisy advice that doesn't work. The plan's simple technique cuts through the folly of human emotion by reacting intelligently to price changes and automatically buying low and selling high. Relayed in the same easy-to-understand language that has made The Neatest Little Guide to Stock Market Investing such a staple in the investing community, The 3% Signal is sure to become your most trusted guide to investing success.
From the Trade Paperback edition.
New material includes: How to think like a long-term investor – just like Buffett Why “loss aversion”, the tendency of most investors to overweight the pain of losing money, is one of the biggest obstacles that investors must overcome. Why behaving rationally in the face of the ups and downs of the market has been the key to Buffett’s investing success Analysis of Buffett’s recent acquisition of H.J. Heinz and his investment in IBM stock
The greatest challenge to emulating Buffett is not in the selection of the right stocks, Hagstrom writes, but in having the fortitude to stick with sound investments in the face of economic and market uncertainty. The new edition explains the psychological foundations of Buffett’s approach, thus giving readers the best roadmap yet for mastering both the principles and behaviors that have made Buffett the greatest investor of our generation.
The need to switch to a new approach for investing has never been more urgent. The Crash of 2007 revealed in dramatic fashion that there are glaring flaws in the theory that underlies all of the prevailing investment strategies—efficient market theory. This theory, and all of the most popular investing strategies, fail to account for major, systematic errors in human judgment that the powerful new research in psychology David Dreman introduces has revealed, such as emotional over-reactions and a host of mental shortcuts in judgment that lead to wild over and under-valuations of stocks, bonds, and commodities and to bubbles and crashes. It also leads to horribly flawed assessments of risk.
Dreman shows exactly how the new psychological findings definitively refute those strategies and reveals how his alternative contrarian strategies do a powerful job of accounting for them. He shows readers how by being aware of these new findings, they can become saavy psychological investors, crash-proofing their portfolios and earning market beating long-term returns. He also introduces a new theory of risk and substantially updates his core contrarian strategies with a number of highly effective methods for facing the most pressing challenges in the coming years, such as greatly increased volatility and the prospect of inflation. This is every investor’s essential guide to optimal investing.
From Forbes and the CFA Institute-two of the most highly respected and recognized names in the investment industry-The Forbes/CFA Institute Investment Course is an interactive roadmap to investing in today's challenging stock markets. From building capital and asset allocation and diversification to choosing a broker and reading a financial statement, The Forbes/CFA Institute Investment Course has offered investors step-by-step guidance since 1948. The course
With Q&A, links to videos, expert advice, interviews with top money managers, and much more, The Forbes/CFAInstitute Investment Course is the perfect resource for anyone looking to learn about investing in today's markets.
What's the best month to buy tech stocks? To sell an energy asset? And what is the one-day of the year that you should never, ever trade on? Answers to these and other questions are just some of the insights that Joe Terranova shares in Buy High, Sell Higher.
Terranova is a series regular on CNBC's Fast Money and the Chief Market Strategist for Virtus Investment Partners, a firm with over $25 billion in assets under management. Prior to joining Virtus, he spent 18 years at MBF Clearing Corp., where he was the director of trading and managed more than 300 traders. And as viewers of CNBC's Fast Money know, Joe is a master at demystifying the forces that drive today's markets. So why not let him show you how to use telltale signs to spot investments that are poised for lift-off.
In this updated second edition of Investing: The Last Liberal Art, Hagstrom explores basic and fundamental investing concepts in a range of fields outside of economics, including physics, biology, sociology, psychology, philosophy, and literature. He discusses, for instance, how the theory of evolution disrupts the notion of the efficient market and how reading strategies for literature can be gainfully applied to investing research. Building on Charlie Munger’s famous “latticework of mental models” concept, Hagstrom argues that it is impossible to make good investment decisions based solely on a strong knowledge of finance theory alone. He reinforces his concepts with additional data and new chapters on mathematics and history and updates his text throughout to reflect the developments of the past decade, particularly the seismic economic upheaval of 2008. He has also added a hundred new titles to the invaluable reading list concluding the book.
Praise for the first edition:
“I read this book in one sitting: I could not put it down.”—Peter L. Bernstein, author of Against the Gods: The Remarkable Story of Risk
“Elegant and irresistible. Robert G. Hagstrom makes the complex clear as he confidently crisscrosses through the disciplines of finance, biology, physics, and literature. The only way to understand investing better, [Investing] shows, is to understand the world better. Ideas spark off the page at every turn. This is simply a gem of a book.”—James Surowiecki, New Yorker
“Investing is a brisk and engaging read, and it is a pleasure to be in the presence of Hagstrom’s agile mind.”—International Herald Tribune