Books

The Only Three Questions That Count: Investing by Knowing What Others Don't

Average customer rating:

If I can find a Ken Fisher in every walk of life.
The Only One Investing Book That Counts
It just makes sense
Great Investment Advice From A Billionaire!
A rare intelligence

The Only Three Questions That Count: Investing by Knowing What Others Don't
Kenneth L. Fisher , Jennifer Chou , and Lara Hoffmans
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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Jim Cramer's Mad Money: Watch TV, Get Rich
The Little Book of Value Investing
The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Little Book Big Profits)
The Black Swan: The Impact of the Highly Improbable
Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders

ASIN: 047007499X

Book Description

The Only Three Questions That Count is the first book to show you how to think about investing for yourself and develop innovative ways to understand and profit from the markets. The only way to consistently beat the markets is by knowing something others don’t know. This book will show you how to do just that by using three simple questions. You’ll see why CNBC’s Mad Money host and money manager James J. Cramer says, "I believe that reading his book may be the single best thing you could do this year to make yourself a better investor.

In The Only Three Questions That Count, Ken Fisher challenges the conventional wisdoms of investing, overturns glib theories with hard facts, and blows up complacent beliefs about money and the markets. Ultimately, he says, the key to successful investing is daring to challenge yourself and whatever you believe to be true. Packed with more than 100 visuals, usable tools, and a glossary, The Only Three Questions That Count is an entertaining and educational experience in the markets unlike any other, giving you an opportunity to reap the huge rewards that only the markets can offer.

Customer Reviews:

If I can find a Ken Fisher in every walk of life........2007-07-02

I am absolutely stunned by this book. This book is very different from the number of other books I have read out of natural interest in capital markets and investing. This book has taught me to be more "skeptical" rather than being a believer in "everything GOOD that we read and understand". It teaches me to apply MORE skepticism in everything I learn to believe as the truth. The other great thing about this book is the way concepts are illustrated. It is hard to put down this book and it is a really long book :-(. It has potential to become a classic.

Another subtle concept I learn from this book. There are some investment advisors, stock pickers around who do their job not just for the money but also to give good education for the society in general. Fisher's book makes me think if such information they teach is based on any kind of statistical proof ?. Is the information complete enough for me to apply it in my investments.

I am still reading this book. I might want to read portions of it again and again to apply the same principles Fisher teaches on his book and Fisher himself (when I read his future columns). I believe that if we decide to self-mange our money, the first step is EDUCATION and defining our INVESTMENT PHILOSOPHY. This book will become one of the pillars holding your investment philosophy.

If you know a lot about investing, think again. There is definitely a lot of speculators and investors who mistake "luck" as "skill" in investing. A real eye opener.

The Only One Investing Book That Counts.......2007-07-02

Wow. I have been a Fisher reader (his Forbes column) for 20+ years. I am most grateful to him for steering me OUT of the market in April 2000, and then back IN to the market in July 2002. I am thousands of dollars wealthier thanks to Ken. I've traded emails with him and heard him in person when he came to Philly. So, naturally, I wanted to read his book. It's a revelation -- he dispels so many entrenched myths. Easily the best investment and markets book I have ever read. Don't miss it.

It just makes sense.......2007-06-26

I love Fisher's approach - probably some selection bias, it all just clicked for me. I would not call myself a sophisticated investor - I only invest in index funds and no individual stocks - but am still several points ahead of the S&P 500 over the past 3, 5, ten years on the basis of asset allocation. I haven't the time to run statistical analysis on market data, but I realized after reading his book that I have been practicing his rules at a less technical level, and it has been a successful approach. Fisher goes in depth, though clearly he is holding back - not giving up all his secrets - but is very forthcoming about his approach, walking his readers through his thought processes to provide a way to think about the market that at least has worked for him. In response to one reader's comments, Fisher DOES explain how he goes from broad market discussions to specific stock picking. It's a relatively small section of the book and would benefit from an expanded treatment, but the basic approach is discussed.

Great Investment Advice From A Billionaire!.......2007-06-16

It is unfortunate that some readers rate this book low because Ken Fisher states early on in the book that he is on the Forbes 400 list. Quite frankly, the fact that Fisher is on the Forbes 400 gives him credibility in my book. Unlike a lot of authors who make their fortune selling books (eg. Robert Kiyosaki and his Rich Dad series), Fisher made his money through investing. Rejecting his book because he has been successful is like ignoring Tiger Woods' advice because he won so many championships. Defies logic! This is one of the best investment books I have read, period.

The central theme of the book is that the only question that counts when investing in stocks is: What do you know that others don't? The vast majority of investors don't make money because they treat investment as a craft that can be learned (which it isn't, he argues). To make money in stocks, you need to know what others don't. To know things others don't, one needs to think like a scientist. One must learn to ask questions- questions that lead to an action on which a bet can me made correctly.

Fisher believes our brains are not hard wired to deal with the stock market. It developed to deal with problems of basic human survival. So you need tools to overcome what your brain is doing to misguide you when it comes to investing. One of the tools Fisher uses is the correlation coefficient, which while sounding fancy and complicated, can easily be calculated using Microsoft Excel. For example, if you want to know whether there is a direct relationship between some variable, say short-term interest rates, and the stock market, you can calculate the correlation coefficient using historical data.

Fisher goes on to tackle prevailing gloom and doom forecasts about the federal deficit and so on and makes a compelling argument that the sky is not falling.

Not counting the appendices, the book is 365 pages long. Personally, I think one good idea you pick up from the numerous Fisher presents is worth the price of this book many times over.

A rare intelligence.......2007-06-11

Mr. Fisher has a rare intelligence that is evident in this book and his Forbes columns. Perhaps it is just
quibbling but the horrid writing style, an attempt to appeal to a wider readership, is enough to set one's teeth on edge. But please do not let that stand in the way of your reading a very. very valuable book that could have been much, much shorter.

Jim Cramer's Real Money: Sane Investing in an Insane World

Average customer rating:

Great Book
Now I know what's out there!
Fan or not!
Thank goodness there's someone out there who can help
Awsome Audio Book

Jim Cramer's Real Money: Sane Investing in an Insane World
James J. Cramer
Manufacturer: Simon & Schuster
ProductGroup: Book
Binding: Hardcover

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The Only Three Questions That Count: Investing by Knowing What Others Don't

ASIN: 0743224892

Book Description

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.

Download Description

"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. "

Customer Reviews:

Great Book.......2007-06-01

Enjoyed the book. He may be annoying on TV; however, he gives great advice and has helped us earn money. Have since bought another one of his books.

Now I know what's out there!.......2007-05-26

This is really a stellar book. Although it doesn't give you many numbers or outline how to interpret financial statements, the information it does contain is priceless. If you want numbers, I would suggest you read Real Money first and then pick up Penman's Financial Statement Analysis and Security Valuation. Both books have specific purposes. Penman's is a textbook, but it is very readable and one of the best out there. It will give you the mechanics of reading and interpreting financial statements. Cramer's book is more theoretical, it will teach you how to process that information in the real world and how the mind of a great investor actually works. I highly suggest reading Cramer before you read Penman which may sound strange, but you are much less likely to get bogged down in the information put forth by Penman if you know what skills you're after and why you need to know them. Real Money is exceptional and realistic. Cramer doesn't cut corners when it comes to explaining how he understands and conceptualizes the market. It is a top notch resource worthy of any investment library.

Fan or not!.......2007-05-24

Excellent book for both fan and non-fans of the show. Not only offers sound stock investing advice, but does so intelligently and entertainingly.

Thank goodness there's someone out there who can help.......2007-05-14

My husband and I proudly wore our Cramer t-shirts this weekend while on vacation. We both love this man and loved the book. Cramer gives very specific ideas on how to make the market more understandable and workable for any investor, but especially for newbies like us. I am a business school graduate and never learned any of what Cramer shares in this great book. I also loved his more recent book (Jim Cramer's Mad Money: Watch TV, Get Rich), too. What a guy! What a country!

Awsome Audio Book.......2007-05-13

This audio book will teach you the basics everyone should know about investing. 5 Stars

A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition

Average customer rating:

A classic that should be on the bookself of every investor
Well-written, has the right caveats
Excellent!
Stop messing with it !!!!
Pearls among the swines

A Random Walk Down Wall Street: The Time-Tested Strategy for Successful Investing, Ninth Edition
Burton G. Malkiel
Manufacturer: W. W. Norton
ProductGroup: Book
Binding: Hardcover

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The Only Investment Guide You'll Ever Need
Stocks for the Long Run : The Definitive Guide to Financial Market Returns and Long-Term Investment Strategies

ASIN: 0393062457

Book Description

The million-copy bestseller, revised and updated with new investment strategies for retirement and the most current research into behavioral finance.

Updated with a new chapter that draws on behavioral finance, the field that studies the psychology of investment decisions, here is the best-selling, authoritative, and gimmick-free guide to investing. Burton Malkiel evaluates the full range of investment opportunities, from stocks, bonds, and money markets to real estate investment trusts and insurance, home ownership, and tangible assets such as gold and collectibles. This edition includes new strategies for rearranging your portfolio for retirement, along with the book's classic life-cycle guide to investing, which matches the needs of investors in any age bracket. A Random Walk Down Wall Street long ago established itself as a must-read, the first book to purchase before starting a portfolio. So whether you want to brief yourself on the ways of the market before talking to a broker or follow Malkiel's easy steps to managing your own portfolio, this book remains the best investing guide money can buy.

Customer Reviews:

A classic that should be on the bookself of every investor.......2007-06-28

This is the updated and expanded 9th edition of a classic investment book that everyone should read once. Although the topics visited are rather extensive, Dr. Malkiel has a very fluid writing style and reading is easy.

Dr. Malkiel believes in a weak form of efficient market hypothesis in that although there might be inefficiencies at times, consistently finding and taking advantage of these are rather difficult after expenses and taxes even for professional money managers and many fail and ruin their investment in the pursuit of beating the market on the long term. Dr. Malkiel suggested investing in broad market (i.e. index fund) in the first edition before first "retail" index fund became available from Vanguard.

The book begins with a brief review of two valuation models: firm foundation valuation and castles in the air valuation. The next couple of chapters are about market manias and bubbles from ancient times to most recent dot com bubble and points to valuation changes and irrational investor behavior. I think every investor could take home something from this review. Those that do not know the history is bound to make the same costly mistakes.

Dr. Malkiel than examines technical analysis and fundemental analysis and market timing strategies and their shortcomings. He associates the technical analysis to astrology and how different securities analyts/researchers using the same fundemental anaysis end up with completely different valuations.

The new chapter on behavioral finance is a must read review of irrational investor behavior and show how investors could be their own worst enemy.

Rest of the book is a useful review of how an investor could construct a reliable portfolio considering risk, diversification and investment products such as individual stocks, mutual funds etc. Several model asset allocations are also available. While I found this section useful, for an investor looking for more specific guidance on portfolio construction, I would like to point to another book, The Four Pillars of Investing: Lessons for Building a Winning Portfolio (Hardcover), for futher reading.

Other investment books I recommend:

The Little Book of Common Sense Investing: The Only Way to Guarantee Your Fair Share of Stock Market Returns (Hardcover)
Capital Ideas: The Improbable Origins of Modern Wall Street (Paperback)

Well-written, has the right caveats.......2007-06-26

This classic has been updated. Malkiel writes in a clear manner. The life-cycle chapter is particularly well done. This book is worth the purchase price, to say the least.

Excellent!.......2007-06-09

Perhaps, one of the best available classic books for investors which cuts through whole of financial Jargon and would ensure the reader understands the subtleties of the subject.

Stop messing with it !!!!.......2007-05-24

A diversified portfolio of solid stocks kept for the long run. I wish that had been my strategy last year when I moved my entire portfolio into more volatile investments approximately two days before the market took a huge dump. A Random Walk will finally allow you to relax with your investments knowing that you have a strategy that always wins in the long run.

Pearls among the swines.......2007-05-14

The book is a classic and it's main point about the investment value of index funds is superb. And a must know. However the 5 'rules' for 'a rational investor' are very mediocre and mostly plain wrong. For instance rule #2 'a rational investor should be willing to pay a higher price for a share, other things being equal, the larger the proportion of a company's earnings that is paid out in cash dividends' is a common mistake. First paying out dividend historically carried (and in some countries still carries) a tax disadvantage. Second if a company is able to reinvest its free cash-flow in business opportunities providing high returns on investment (at least somewhat above the cost of capital) it is better if the company does not pay a dividend. For the reasoning behind this read Warren Buffett and to see teh truth of it look at the share performance of Berkshire Hathaway (a company that does not pay out a dividend since Warren still thinks he can invest cash at higher returns then the cost of capital).

Then later we get a lot of cicular reasoning. To prove that professionals are no better then the market in general it is argued that as a group they do not outperform the market. Now the problem with that reasoning is that although the professinals do not own all the shares they do 90% of the trading (p.52). So they are the market (or 90% of it). They are the average! So of course the average cannot beat the average. We don't need any reasoning nor any random walk or any other theory to see that. The average will simply never do better then average and including fees for the professionals must necessarily do worse then low-cost index funds. Wether the market is efficient or not, this is always true.
Malkiel misses that point completely and just loves hanging the professionals out to dry. At the same time he also forgets to mention most of the time (except om p.161) that professional portfolio managers/analysts are not hired to outperform the market but to provide the backing behind marketing claims that they will try very hard to do so. Most are hired to sell mutual funds or keep clients, not to help them outperform.

All in all he makes some excellent points but for the uninformed reader it is very hard to distinguish between truth and nonsense in this book.

Average customer rating:

super
Accept no substitutes -- THE book to read on file systems
The best work on the topic
Very deep
Excellent Book

File System Forensic Analysis
Brian Carrier
Manufacturer: Addison-Wesley Professional
ProductGroup: Book
Binding: Paperback

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ASIN: 0321268172

Customer Reviews:

super.......2007-03-08

Thanks a lot, we are very happy to have this book in our library!

Accept no substitutes -- THE book to read on file systems.......2006-10-10

I decided to read and review three digital forensics books in order to gauge their strengths and weaknesses: "File System Forensic Analysis" (FSFA) by Brian Carrier, "Windows Forensics" (WF) by Chad Steel, and "EnCase Computer Forensics" (ECF) by Steve Bunting and William Wei. All three books contain the word "forensics" in the title, but they are very different. If you want authoritative and deeply technical guidance on understanding file systems, read FSFA. If you want to focus on understanding Windows from an investigator's standpoint, read WA. If you want to know more about EnCase (and are willing to tolerate or ignore information about forensics itself), read ECF.

In the spirit of full disclosure I should mention I am co-author of a forensics book ("Real Digital Forensics") and Brian Carrier cites my book "The Tao of Network Security Monitoring" on p 10. I tried to not let those facts sway my reviews.

FSFA has received lengthy and glowing reviews, so I will keep my comments brief. Of the three books I cited earlier, FSFA was the only one which really grabbed my attention. I am a network-centric security practitioner, but Brian Carrier's organization, thoughtfulness, and delivery really hooked me. I very much appreciate authors who define a framework and explain potentially complicated topics within that framework.

For example, Brian is very keen to promote the scientific method. His emphasis on hypotheses and looking for evidence to refute them made me take a second look at my own practices. Brian differentiates between "essential" and "nonessential" data, where the former must be accurate in order for a user to access data and the latter not necessarily needing to be accurate. Again, this is a great way to think about digital evidence in any form. Investigation is grouped into preservation, search, and event reconstruction phases. Finally, Brian's separation of data structures into five categories (file system, content, metadata, file name, and application) facilitates comparisons of file systems in the third part of FSFA.

Besides being well-organized, FSFA does an excellent job covering material not addressed elsewhere. Server partitions, RAID, and LVM are examples. It is important to understand what is NOT present in FSFA, however. Brian very clearly stops at the application level of data, saving that for other books. I think this is a great idea, since it lets FSFA concentrate on its core topics (file systems) and saves the data on those file systems for other books. At the risk of self-promoting, I think FSFA is a powerful companion to "Real Digital Forensics" (RDF), since we provide sample file system images in dd format suitable for analysis using FSFA techniques. RDF also cares more about content than structure, which is where FSFA stops.

Anyone who even pretends to be a host-centric forensics practitioner must read FSFA. I expect it has the power to save you on the stand should you encounter intense questioning from a defense attorney.

The best work on the topic.......2006-08-29

Carrier's book has prooven invaluable to this digital forensics trainee, and I expect many of the old hands in the field will be keeping it on hand as well. If you're serious about computer forensics, you need a copy.

Very deep.......2006-05-24

I'm pretty technical, so I enjoyed this book. The author has more on file systems than just about anywhere, and I found it helpful in non security work also just to understand how the different systems work.
I was able to use the book Windows Forensics, Corporate Computer Investigations by Chad Steel more in daily use, but this book would have been a better as a starting point in learning about disk based analysis and does a much better job of diving deep into file system specifics.

Some of the programming level content was tough to follow, but if you are ever going to court and really need to know your stuff this is buy far the book you need. I recommend it throughly.

Excellent Book.......2006-03-19

Excellent book for beginning to really understand file system forensics. Good book for reference down the road as well. Highly recommend.

Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)

Average customer rating:

Classic Technical Analysis Book
Excellent introduction to TA - an easy read
What works in the short term market
A Well Written Introduction to Technical Analysis
a must have if you are entering the markets

Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications (New York Institute of Finance)
John J. Murphy
Manufacturer: Prentice Hall Press
ProductGroup: Book
Binding: Hardcover

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Come Into My Trading Room: A Complete Guide to Trading

ASIN: 0735200661

Book Description

John J. Murphy has now updated his landmark bestseller Technical Analysis of the Futures Markets, to include all of the financial markets.

"If one could read only one book on technical analysis, this should be the one." --Knight-Ridder Financial Products and News (on the first edition, Technical Analysis of the Futures Markets, 0-13-898008-X)

This outstanding reference has already taught thousands of traders the concepts of technical analysis and their application in the futures and stock markets. Covering the latest developments in computer technology, technical tools, and indicators, the second edition features new material on candlestick charting, intermarket relationships, stocks and stock rotation, plus state-of-the-art examples and figures. From how to read charts to understanding indicators and the crucial role technical analysis plays in investing, readers gain a thorough and accessible overview of the field of technical analysis, with a special emphasis on futures markets. Revised and expanded for the demands of today's financial world, this book is essential reading for anyone interested in tracking and analyzing market behavior.

"One way to get started in technical analysis is to read a good book on the subject. One of my favorites is Technical Analysis of the Financial Markets: A Comprehensive Guide to Trading Methods and Applications by John J. Murphy. It's an easy read." Ralph J. Acampora, CMT, Managing Director, Prudential Securities Inc.

Customer Reviews:

Classic Technical Analysis Book.......2007-06-28

I received 4 copies of this book during my course work at the NYIF, its an excellent referance manual for anyone applying Technical Analysis to the financial markets.

Excellent introduction to TA - an easy read.......2007-06-27

This is the first book I bought on TA and, honestly, it looked intimidating. It's not. Open it up and it reads cover to cover very quickly. Not too technical - not too basic. Just right. This is an excellent introduction to technical analysis: easy to read language, large print, nice heavy bright white pages. Oh, and the content is excellent as well: worded well, good organization, understandable examples and illustrations.

What works in the short term market.......2007-06-03

I am a firm believer of using technical analysis when considering investing for the short term. To me a short term investing ranges anywhere from a few months to a year. I invest mostly in the commodity market, particularly gold and silver, and get amazed with the regularity with which I see meltdown in these markets. There were, three I think, in the year 2006, one or two in 2007 and there will be more in the coming years. The fundamentals are all good for these markets, but there is no running away form liquidations in these markets. The one in 2006 was apparently precipitated by $6.6 billion blow-up of Amaranth hedge fund. The summer 2006 meltdown in emerging markets also seemed to had a correlated move in the commodities market.

Relying on fundamentals alone can get one trapped in the markets which are undergoing serious corrections. A safer investing is when one listens to what market is trying to tell, this is where this book helps. I highly recommend this book!!

A Well Written Introduction to Technical Analysis.......2007-05-30

I found this book to be analogous to a college primer on a subject. In this instance it is T.A. The book is broad based. The author has cited several potential books for further in depth studies in areas of specific interest to the analyst. I used the study guide with the book for feedback and conceptual reinforcement. While I do not believe a serious knowledge base can be built with only one book, this book lays a fine foundation to build on.

a must have if you are entering the markets.......2007-05-19

i have a solid collection of books regrding the financial markets, and this book by far has to be the best.i have searched high and low for easy to read, and understandable books regarding technical analysis. this one is it, if i had brought this book first i would have not brought the 8 previous books i have regarding the subject, especially if you are looking at entering the forex market....this book means millions of dollars in the bank too me

Distressed Debt Analysis: Strategies for Speculative Investors

Average customer rating:

Invaluable
Great & Comprehensive Practical Review
must buy
A Complete Introduction
Valuable insights, useful commentary, and professionally written.

Distressed Debt Analysis: Strategies for Speculative Investors
Stephen G. Moyer
Manufacturer: J. Ross Publishing
ProductGroup: Book
Binding: Hardcover

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ASIN: 1932159185

Book Description

Recently, reorganizations, restructurings, and bankruptcies have replaced IPOs as the common financial vehicle of the times. However, these distressed companies can still provide an avenue for profitable investing. This eagerly anticipated new reference helps guide you through this treacherous landscape in order to master the multi-move chess-like strategies required to achieve financially advantageous results for your portfolio. It is the most up-to-date and comprehensive book on the market to deal with the myriad of issues surrounding a distressed company.

Providing theoretical and practical insight, Distressed Debt Analysis: Strategies for Speculative Investors presents a conceptual, but not overly technical, outline of the financial and bankruptcy law context in which restructurings take place. The book covers the broader financial environment of the reorganization and the basic process of investment analysis and investment strategies. The author uses numerous real-world examples and case studies to emphasize important concepts and critical issues.

The developments that have created these extraordinary investment opportunities have also created tremendous demand for professionals with experience and knowledge in the restructuring process. Distressed Debt Analysis: Strategies for Speculative Investors addresses the complete knowledge needs of investors and professionals in the burgeoning world of financially distressed companies. It is perfect for bankruptcy departments of law firms, restructuring advisory groups, turnaround consulting firms, and reorganization and distressed securities departments of investment banks.

Customer Reviews:

Invaluable.......2007-05-07

Extremely helpful in preparing our new hires - it is required reading. This book will be a desk reference for years to come.

Great & Comprehensive Practical Review.......2007-01-05

Unlike many academic books, this is a practical analysis of distressed debt, the bankruptcy process, and all the related financial, accounting and valuation issues that arise in this context. It is well written and well organized.

Some other books on the topic go into significantly more detail in esoteric issues; however this book is a must for a grounded detailed understanding of the topic. I have recommended this book to a number of colleagues in the industry and all were equally appreciative.

must buy.......2006-03-14

It's a must buy for people in high-yield/distressed analysis. I was suggested this book at my first day at work.

A Complete Introduction .......2005-11-02

The premise of this book is really quite simple.

Identify securities (bonds, stocks or whatever) from companies that are in trouble. Buy these securities when other investors are ignoring or even selling them. Then when the company gets turned around, you can make a fortune. What you don't want to do is buy these securities only to see the companies go out of business so that your securities are now completely worthless.

As you might guess from the title, this book is about how to analyze distressed companies that offer this potential investment path. It covers virtually every aspect of finding such companies, determining if the proposed investment is feasible, explains the differences in the company going through one of the various bankruptcy procedures, the legal and financial due diligence issues, and more. The final result is a set of basic investment strategies and analytical techniques, complete with case studies and referrences to numerous real-world examples to emphasize important concepts and critical issues.

Along with the book is a companion web site that offers additional information, checklists, sample letters, and more.

This book is a complete introduction to this new and emerging field.

Valuable insights, useful commentary, and professionally written........2005-10-22

Like many of us, perhaps you've owned some bonds that have fallen into junk status or worse, distress/bankruptcy. In most cases, did you throw up your arms either selling at a loss or confused by smallprint mail solicitations? Stephen Moyer is an absolute pro and de-mystifies what some may think of as a blackbox only understood by investment specialists, asset pirates, and/or bankruptcy lawyers.

Conversely, if you are a professional and seeking to augment your understanding, Moyer provides insightful commentary on areas like negotiation leverage points, key area to control, legal bounds of control, pre & post-bankruptcy valuation approaches, and comparisons to real deals done recently in the marketplace. Most of his examples are from 1998-2003, and he tries to use contemporary issues to highlight arguments. Unfortunately, you will not find the most recent Bankruptcy Code reforms which commenced Oct 17, 2005. For instance, he states on page 77 that management can "...extend the [bankruptcy] exclusivity period virtually indefinitely...", which today is essentially limited to 18 months. Although a shortcoming to the book, any professional investor would have access to materials to become up-to-date on the recent reforms.

Moyer's CV reads long: Stanford Law, Chicago MBA, CFA, CPA, and Drexel Lambert heritage. Obviously, he knows what he is talking about. His writing interests do seem to be lawyer-ly; for instance, he spends an inordinate amount of time explaining issues around confidentiality agreements and duties. But, I appreciated his clear and concise style and sentences. No arrogance in his style nor is he trying to sell his current firm.

Excellent book. Strongly recommend despite the price.

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets

Average customer rating:

A rambling badly written, irritating book
It kept me guessing
Fascinating examination of chance and luck
To predict randomness is to predict nothing
Fooled By Randomness- great read!

Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets
Nassim Nicholas Taleb
Manufacturer: Random House Trade Paperbacks
ProductGroup: Book
Binding: Paperback

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The Black Swan: The Impact of the Highly Improbable
Against the Gods: The Remarkable Story of Risk
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Hedgehogging

ASIN: 0812975219
Release Date: 2005-08-23

Amazon.com

If the prescriptions for getting rich that are outlined in books such as The Millionaire Next Door and Rich Dad Poor Dad are successful enough to make the books bestsellers, then one must ask, Why aren't there more millionaires? In Fooled by Randomness, Nassim Nicholas Taleb, a professional trader and mathematics professor, examines what randomness means in business and in life and why human beings are so prone to mistake dumb luck for consummate skill. This eccentric and highly personal exploration of the nature of randomness meanders from the court of Croesus and trading rooms in New York and London to Russian roulette, Monte Carlo engines, and the philosophy of Karl Popper. Part of what makes this book so good is Taleb's ability to make seemingly arcane mathematical concepts (at least to this reviewer) entirely relevant in evaluating and understanding everything from the stock market to the success of those millionaires cited in the aforementioned bestsellers. Here's an articulate, wise, and humorous meditation on the nature of success and failure that anyone who wants a little more of the former would do well to consider. Highly recommended. --Harry C. Edwards

Book Description

“[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.

Customer Reviews:

A rambling badly written, irritating book.......2007-06-30

The title sounds promising, but this book is a failure.

The main problem is lack or direction. You can read pages and pages without anything interesting popping up. Ocassionaly an interesting point is raised, but you don't get the feeling that the book is leading anywhere, and therefore you don;t feel the compulsion to continue reading it.

Secondly, the author has a very irritating infantile style, peppering the pages with snide remarks or comments about how smart he is.

At the end of the book, you're left feeling that this might have been a vagely interesting three page magazine article, but there is not enough substance to warrant a book.

Save your time - don't bother buying it.

It kept me guessing.......2007-06-25

Its one of those books where I searched for a central idea till the end. I get it that we can be fooled by randomness but whats new to that ???

However, I liked the book in certain chapters, they ascertained the thoughts a deep thinking analytical mind may go through..

Once again good book but lacks a end that ties it together.

Fascinating examination of chance and luck.......2007-06-17

The author Taleb has an MBA from Wharton School, a PHD from U. of Paris, is a highly successful professional trader, and even finds time to be a mathematics professor. The man has a busy mind, and this Book is highly intuitive in the way it challenges you to view the world and your own results in trading and your life's pursuits. The book deals extensively with what I find a very funny and elusive topic. How so many successful people confuse their successes with randomness and luck, and how to use this information and turn Luck onto your side by looking for similar unexpected situations.

Quote: "It manifests itself in the shape of the lucky fool, defined as a person who benefited from a disproportionate share of luck but attributes his success to some other, generally very precise, reason."

The book, while perceived to be about trading, is an unconventional explorational by a trader into examining how randomness changes the world; from the trading rooms in NY, to the ancient world, Roulette, Monte Carlo math, the theory of evolution, and so many more topics. The range of topics and information covered here are quite staggering, and always fascinating.

To predict randomness is to predict nothing.......2007-06-14

The author appears to be suffering from lack of contact with people of his intellectual peerage. He pauses long enough to doubt himself only nominally, and then in the "I may be wrong but I doubt it" spirit.

Some of his points are easily debunked by even the most general reasoning. For example, he claims that if an interviewee for an employment position emphasizes his past performance, he (the author) makes an excuse to cut the interview short, because past performance is not a reliant indicator of future performance. By natural selection, he will be left with interviewees who are ashamed or reluctant to talk about the past. Given the two prior distributions, I'd take my chances with the posterior distribution of the interviewees who are proud of their past achievements.

People who see everything as being caused by a grand design are one extreme. The author of this book is at the other. The fact that both outlooks can exist in the same world, to me, proves that neither extreme can be correct. In other words, it can't be proven whether events are ruled by randomness or grand design. Credit the author for figuring out a way to make money by trodding the (incorrect) path less taken, at any rate.

Fooled By Randomness- great read!.......2007-06-14

Eye-opening, interesting, against the grain. An educational and entertaining read.

The Intelligent Investor: The Classic Text on Value Investing

Average customer rating:

This is what I was missing for Investing in the stock market
It may not be the BIBLE of Investing - But it certainly is the NEW TESTAMENT
Value investing primer
The gold standard in investment titles
A must read for Fundamental Investors

The Intelligent Investor: The Classic Text on Value Investing
Benjamin Graham
Manufacturer: Collins
ProductGroup: Book
Binding: Hardcover

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Similar Items:

Security Analysis
The Essays of Warren Buffett : Lessons for Corporate America
The Interpretation of Financial Statements
Common Stocks and Uncommon Profits and Other Writings
One Up On Wall Street : How To Use What You Already Know To Make Money In The Market

ASIN: 0060752610
Release Date: 2005-05-03

Book Description

The best book on investing ever written, this deluxe hardcover re-issue of the 1949 classic work offers Graham's sound and safe principles for investing - principles that have worked for more than the half century since it was first published. Beautifully packaged, this essential work will be a must-have for fans and novices alike. It also features a new Foreword by mutual fund legend, John Bogle.

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

Over the years, market developments have borne out the wisdom of Graham's basic policies, and in today's volatile market, The Intelligent Investor is the most important book you will ever read on making the right decisions to protect your investments and make them a success.

This deluxe hardcover re-issue of the original 1949 text by Graham - what Warren Buffett deems to be pure, unadulterated Graham - will feature a beautiful package that will make it an instant must-have for the many fans of Graham, and collectors everywhere, and is further enhanced by the inclusion of a new Foreword from mutual fund legend, creator of the first S&P500 index fund, and founder of The Vanguard Group, John Bogle.

Customer Reviews:

This is what I was missing for Investing in the stock market.......2007-04-12

During the last five years I entered the stock market and took a couple of seminars on investing in stocks, the seminars were valuable introductions to the market, after reading the book I discovered that what I had learned in those seminars was to behave like an speculator rather than a true investor. After many costly mistakes I know why I needed to read the book. The cases presented in the book of companies that in many cases no longer exist do not harm the wisdom and clarity of the basics needed to become a true investor. I recommend the book to every person who wants to enter the market. It is actually a must read beforehand. Now I know what Warren Buffet means when stating "this is the best book on investing ever written". Hope you will find it as valuable.
Carlos Irving Rojas - Mexico City

It may not be the BIBLE of Investing - But it certainly is the NEW TESTAMENT.......2007-03-10

What are you waiting for, buy the book and rock your world. I am reminded of the old joke we use to tell in Wall Street when I was with Lehman Brothers back in the 1970's. It's the story about the guy who is given permission to remove as much gold as he can from Fort Knox but he only has a morning, and must work alone. He's given a truck and a wagon to haul the gold with. He gets in the truck and heads the wrong way. "Where are you going, you are going the wrong way, you only have a morning to work with, and the clock has started." His answer is classic, "I am going to get breakfast first."

The point is very simple. People are reading Wall Street Journals, getting MBA's, and watching the talking heads on television. I've got portfolio managers who would kill for an edge, and every one of them, all of them are missing the point. It's all there, all the knowledge, all the wisdom you need to become a MASTER in the financial markets. You simply have to know what to read, and you begin by reading THE INTELLIGENT INVESTOR.

At Harvard we use to say they divided the building up into two lecture halls tonight. The door at the first hall has a sign that says LECTURE ON GOD, on it. The door of the second lecture hall has a sign that says GOD on it. Everybody wanted to go to the lecture. Listen up folks, this book THE INTELLIGENT INVESTOR, it's the real thing. This is not Madison Avenue sitting down with a author that they pulled out of Hollywood, and said let's put some interesting witticisms into a book on investing, dress it up, market it smart, and make a couple of bucks.

This is a book by a man with an Einstein type IQ, whose natural abilities were in the financial arena, who has the uncanny skill sets to explain himself in beautiful prose that just about all the rest of us can understand. If you want to be in the stock market, and you haven't read Benjamin Graham, it's like being in a gunfight in the old west, and not having a gun. You got to do the basics, and very few people do.

Wasn't it Woody Allen who said, "80% of making it is just showing up?" If you want to be in the market, and outperform everybody else wanting the same thing, than you can't do the same things they do, or you will get the same results, and that means mediocrity. You are in the race for Alpha, the extraordinary return. To win the race, you need an EDGE. Now how many people do you think are doing the basics? The answer is about as close to zero as you can get.

Investors, just like people want instant gratification with a minimum of effort, energy, and pain, and that's not how smart, astute investing works. You need to read books like this one not once, but over and over again, until it becomes part of you, until emotionally its wisdom becomes imprinted in your brain. You then need to start implementing it. See what kinds of results you are getting, and then make the adjustments necessary to make its wisdom YOUR OWN.

In other words, you need to OWN THE KNOWLEDGTE THAT'S IN THIS BOOK. Can it be done? Yes, but not easily. Benjamin Graham spent a lifetime figuring this stuff out. He didn't hit the ski slopes at Sun Valley. He wasn't sitting by the pool at Bungalow 5, at the Beverly Hills Hotel. He was grinding out the "Margin of Safety" concept, and testing it against the real world, did it work, and did it falter? Was it a 100 percent reliable.

I have heard Warren Buffett his most famous, but not only successful disciple tell the story of how the students in Graham's class room at Columbia would challenge the old man. Graham would used those challenges to make his thinking better, sharper, more real, and in so doing he became a better investor.

You want to know about Mr. Market, and why just about every investor ignores this theory, which is the equivalent of the Quantum Theory in Physics. You need to read the book. In Chapter 11, he teaches you how to value a business, his way. The teachers at Harvard, Wharton, Ross School, and others have nothing on Ben Graham. We are all students at his feet.

In my lifetime, I have worked with some of the smartest people on the planet. My direct mentor is the richest man on Wall Street, and I have known just about every major national and international investor worth his salt in the world in my generation. Every one of them could quote Benjamin Graham, meanwhile the want-to-bees, were out getting fitted for suits, after having lunch at the 21 Club.

Absorb some wisdom from someone who has been there. Read this book; learn about the "Circle of Competence", and the overwhelming importance of investor psychology. It is amazing that in this book several generations old, Ben is dealing with the same issues confronting us today, director independence, broker conflicts, frequent trading and the lack of performance it creates, management teams out of control, and dealing in a self-serving manner.

Each edition of this book is unique in its own way, with different world-class players commenting along side the text. I happen to like this edition because John Bogle (read his books also) is a man who I respect enormously who has impacted the investing world. The revised edition with Warren Buffett commenting is wonderful also. You simply can not go wrong touching anything that has been written by Benjamin Graham. Good luck.

Richard Stoyeck
[...]

Value investing primer.......2007-02-17

This was a pretty good book on value investing. The problem is that the book is 30 years old, and the examples are a bit dated. The thing is that if people find out that a type of investment strategy is profitable, more people invest in it, which makes it less profitable. This is why his examples perhaps do not still hold today - if people know about these pitfalls, presumably they are avoiding them. But I'm not sure if this is really true or not - sometimes people do not change, even in the face of overwhelming evidence.

The one thing to take away from this book is that when there is an optimistic spirit in the market, people get carried away, and vice versa. Over time, emotions will always remain as long as people are responsible for trading stocks.

Overall, it's a good intro to investing, but further research into modern statistics needs to follow.

The gold standard in investment titles.......2007-02-08

This classic book on investing belongs on the bookshelf of every investor. The principles that Benjamin Graham outlines are the very precepts that guided such great investors as Warren Buffett, and such mutual fund innovators as John Bogle, the noted Vanguard Group founder, who wrote this edition's foreword. First published in 1949, the text shows a few signs of age, most notably in its discussion of interest rates, investment vehicles such as savings bonds and other time-sensitive subjects. However, those are minor issues. When Benjamin Graham writes about categories of investors, approaches to security analysis, the proper disposition investors should have toward market moves, and other fundamental investment subjects, his advice is timeless. We highly recommend this seminal book.

A must read for Fundamental Investors.......2006-12-03

First, I just want to say that many of you might find this book boring to read. If that turn out to be the case, you can read the commentary (which uses more relevant and recent examples) for each chapter by Jason Zweig, which is worth the price of the book alone. I got tempted to read the commentary only but I forced myself to read the entire book and I'm glad I did it. Warren Buffett is right, this is the best book on investing ever written, by far. This is one of the reasons in my opinion why Warren himself never write an investment book (plus the fact that it is not easy to explain Warren's intelligent on a paper. Instead just learn from what he does).

Now about the content of this book, it tells you everything you need to know about the investing field (not only stocks, but business in general, bonds, macro economy to some extent, psychological factor of the market, strategy for defensive and speculative investors etc).

Secondly, Warren Buffett highly recommend this book and his favorites are chapter 20 (Margin of safety) and chapter 8 (Investor and market fulctuation). Margin of safety should be the central concept of your investment, and understanding how the market works (and the mood and inconsistencies of Mr Market) should be the second thing that you need to know before jumping into the market.

I also find the chapter 11 (security analysis for lay investor) very educating as it teaches us to value the future of a business (breaking down into 3 area:
1. Long term prospect
2. Quality and conduct of management
3. Financial strength and capital structure

Additionally the comparison of eight companies (chapter 18) very practical and eye opening. I won't spill the content right here but when I read them, it feels like common sense to me, but back (during the tech bubble) then I was involved in several similar stocks that I shouldn't have touched with a ten feet pole.

The bonus chapter "The Superinvestors of Graham-and-Doddsville" by Warren Buffett is a classic reading. This article shows how inefficient the market can be, and argue that most of the time the market is not efficient. I have become a believer that the market is not efficient (after many years believing that the market is very efficient as the business school has taught me)

This book also cover several useful metrics that we can use to value a company in addition to just looking at EPS or PE ratio, such as the ROIC (Return on Invested Capital) etc.

In general, Ben Graham focuses a bit more on capital preservation (shown by focusing on margin of safety, dividend policy, and stocks priced below its tangible book value strategy.) which I think are really important, but one need to understand that there's more to investment than just those things (such as long term groth/the business itself and management) which are also covered in book.

This book would not serve as your investing philosophy, but it should help you create your own investing philosophies. It will help you find what your strength (defensive or enterprising) is and find/form your circle of competence. And as a minimum, this book will increase your confident when dealing with the stock market.

Last but not least, also read "Common Stocks and Uncommon Profits" by Philip A. Fisher and "One up on Wall Street" by Peter Lynch to complement this book.

Happy Investing!

Entries & Exits : Visits to 16 Trading Rooms (Wiley Trading)

Average customer rating:

Disappointing
an Unbelievably great book!
Great insight!
Excellent insight into a variety of trading styles.
A bargain

Entries & Exits : Visits to 16 Trading Rooms (Wiley Trading)
Alexander Elder
Manufacturer: Wiley
ProductGroup: Book
Binding: Hardcover

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Similar Items:

Study Guide for Entries and Exits: Visits to 16 Trading Rooms (Wiley Trading)
Mastering the Trade (McGraw-Hill Trader's Edge)
Come Into My Trading Room: A Complete Guide to Trading
The Complete Trading for a Living: The Legendary Approach to Trading with the Companion Study Guide
Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders

Accessories:

The Complete Trading for a Living: The Legendary Approach to Trading with the Companion Study Guide
Study Guide for Entries and Exits: Visits to 16 Trading Rooms (Wiley Trading)
Come Into My Trading Room: A Complete Guide to Trading

ASIN: 0471678058

Book Description

Come behind closed doors and see real trades made by real traders.

Dr. Alexander Elder leads you into 16 trading rooms where you meet traders who open up their diaries and show you their trades. Some of them manage money, others trade for themselves; some trade for a living, others are on the semi-professional level. All are totally serious and honest in sharing their trades with those who would like to learn. You will meet American and international traders who trade stocks, futures, and options using a variety of methods. All are normally very private, but now, thanks to their relationships with Dr. Elder, you can see exactly how these traders decide to enter and exit trades. Each chapter illustrates an entry and an exit for two trades, with comments by Dr. Elder. With this book as your guide, you can get closer to mastering the key themes of trading—psychology, tactics, risk control, record keeping, and the decision-making process.

The companion Study Guide is filled with striking insights and practical advice allowing you to test your knowledge and reinforce the principles outlined in Entries & Exits.

Customer Reviews:

Disappointing.......2007-07-01

I have read Elder's other books and was looking forward to reading this one. Unfortunately, Entries and Exits, does not rise to the standards Elder set with his other books. I can honestly say, "read his first two books,but,skip this one" Sorry Dr. Elder.

an Unbelievably great book!.......2007-05-21

Received great education from Dr. Elder again! Unlike many other books on trading which are repetitive, every word of Dr. Elder's every book is valuable, not a single wasted or repetitive. They're all worth their every page, every paragraph and every word.
Highly recommended for those who are looking for trading methods.

Great insight!.......2007-05-19

Dr. Elder-

This morning I finished my second reading of Entries and Exits, and just wanted to thank you for your continued insight. I have been a long time follower of yours since 1994 when I came across Trading For A Living at the local Barnes and Noble. I was also one of the first to buy Come Into My Trading Room, as you wrote when you signed it. We also talked on the phone a couple times back in '94 when I was struggling getting started . My trading life has had ups and downs as I have traded successfully for 1-3 years at a time, and then had to return to the corporate world. I took the whole year of 2006 off from trading, but have returned this year with renewed determination.

My biggest revelation was the fact that when I started trading for a living in 1993, I started with the most difficult trading instruments, options. When that failed, I moved onto futures. This year for the first time, I decided just to see if could trade the least leveraged instruments, stocks. I have had a good run this year with stocks as it is easier to take losses where you should when they aren't $1500-$2500 as they were when I was trading the small NASDAQ.

Anyway, keep up the good writing, and I hope there is a sequel to Entries and Exits.

Excellent insight into a variety of trading styles........2007-05-12

Trading books tend to get boring at some point: psychology, technical analysis, money management, or methods. I had no problem reading this one through cover to cover. Anyone who has ever traded with their own money soon comes to realize the importance of these two points in any trade: when you pull the trigger to enter and when you pull the rip-cord to exit.
"Entries & Exits" will not give the details that new traders crave to develope their virtual-cash-cow trading machine, but it is the next best thing to a $6,000 to $20,000 mentorship available on the market today. The reader gets to look over the shoulder of 16 very different traders and not only see some of their "three Ms" (Mind. Money, Methods) but also get to see just whom they are competing against in the markets. Some of these traders you will probably not like because they seem to live in a different world than you. Others you will think could be your next best friend. All of them, however, could well be on the other side of the next trade you make. It's a good principle to know your competition.
This book could be your next best investment especially if you harbor any secret desires to trade fulltime.

A bargain.......2007-05-09

It would cost you several hundred dollars to buy the priviledge of watching-over-the-shoulder of an experienced trader as he conducted real-life trades. Novice traders pay such fees to gain the experiences that will save them tens of thousands of dollars in their own trades. "Entries and Exits" allows you such over-the-shoulder experience with world-class traders (not just their best trades, but their worst as well) at less than a tenth of the cost for pay-as-you-go trading rooms. This book goes into great detail, perhaps using different trading systems (and charts) than you have been schooled in, but it provides valuable experience that could save you many thousands of dollars.

Average customer rating:

One of the best investment books ever written
Only for the serious...
The beginning of value investing--ponderous; but good
Very dofferent from the 2nd edition
I have alot of respect for this guy, but...

Security Analysis
Benjamin Graham
Manufacturer: McGraw-Hill
ProductGroup: Book
Binding: Hardcover

General | Popular Economics | Business & Investing | Subjects | Books

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Similar Items:

The Interpretation of Financial Statements
Intelligent Investor: A Book of Practical Counsel
The Intelligent Investor: The Classic Text on Value Investing
The Essays of Warren Buffett : Lessons for Corporate America
Common Stocks and Uncommon Profits and Other Writings

ASIN: 0071448209

Book Description

The timeless edition of Security Analysis that most closely reflects today's financial environment

Graham and Dodd's Security Analysis is hands-down the most influential investment book in history. The classic 1951 edition is the first edition of the bestselling investment bible that was written during a time of

economic stability and prosperity. It provides investors with techniques and strategies for profitable investing in an economic environment that most resembles today.

Security Analysis: The Classic 1951 Edition features a far more contemporary focus on the wisdom and legitimacy of common stocks for individual investors. This essential addition to any investment library features:

Graham and Dodd's original words and insights, unvarnished and still compelling
Timeless methods for measuring asset values and cash flows, still a centerpiece of value investing worldwide
Income statements and balance sheets moved to the front of the book for ease of use

Customer Reviews:

One of the best investment books ever written.......2007-05-07

Ben Graham is the Father of Security Analysis. Period. With over 85% of fund managers unable to outperform the indices over the past 20 years, his wisdom is timeless. While his influence as Warren Buffett's mentor is well documented, I suggest you read an article from 1984 by Buffett, titled "The Superinvestors of Graham-and-Doddsville", published in Hermes, The Columbia Business School Magazine. Buffett lays out pretty clearly how Graham directly influenced a number of other investors- it's basically the intellectual lineage that started with Graham's teachings. Their collective portfolio performances probably at least doubled that of the S

Only for the serious..........2007-04-04

This book is thick, technical, and tough. If you have chosen a financial career, you need to have this on your bookshelf. It also wouldn't hurt to read it.

The beginning of value investing--ponderous; but good.......2007-01-04

Not light reading, but who would expect that?

Surprisingly helpful after all these years.

A book best understood in the rereading. Warren Buffett's favorite; need we say more?

Very dofferent from the 2nd edition.......2006-11-10

The 3rd edition was VERY different from the 2nd edition. I liked the 2nd edition a lot more.

I have alot of respect for this guy, but..........2006-09-14

Mr. Graham should have been a law professor because that is exactly how his book reads. His main determination of value takes about 30 chapters to develop and in the end it is nothing more than an average P/E ratio, over the past 10 years, used as a multiplier to determine future profitability. Aside from that, his formula definitions are vague; as is alot of the text.
Don't get me wrong, the man is brilliant, but as per his writing style he is very vague, assumes a lot, and will leave most of you thinking what was that?

Books:

Books