Fundamental-analysis

There is no question that when it comes to informational books on trading, Schwager is the best around. This book meets his high caliber of quality and informativeness. I can recommend this book to anyone looking to broaden their knowledge of fundamental analysis and the guts of what affects supply and demand. But I can't recommend the book wholeheartedly because basing trading decisions on fundamental analysis in itself is such a flawed approach in my opinion.

I used to pay a lot of attention to fundamentals. I would spend hours each day looking at news and research to get a feel for the reasoning behind the movement. After doing this for a while, I realized the inherent futility in the approach- if a trade sets up technically I will take it, unless there is some compelling reason not to, and if there is no technical confirmation, I won't take it, period- and so fundamental analysis just doesn't play much of a role in either case. Nowadays, I still keep tabs on fundamentals somewhat, but mainly only to avoid getting hit by a train- not taking action in front of a significant report or going short coffee in the freeze season, stuff like that. Below are a few reasons why my trading has become solidly technical:

1) Most daily news is worthless, and here is why: at any given time, there are half a dozen arguments for being bearish on a market, and half a dozen reasons to be bullish. When a market has a big move up and the reason isn't clear, the news services pick a couple of the bullish reasons and talk about those. If the market has a move down, they highlight some of the bearish reasons. It's total retrofitting, and thus usally a waste of time to read because there's usually not really a way to turn that knowledge into profit. The "traders" that the newsies interview are often just run of the mill clerks or brokers who don't really know anything special- or if they do, they don't tell. The classic filler explanations on the aftermarket newswires are "profit taking," "fund buying" and "fund selling." When you read about one of those three, the general translation is that the reporter dragged out one of the old standards because "who the heck knows" just doesn't make good copy.

2) Many of the best trades are the ones where the move starts before anyone knows why. Bruce Kovner talked about this concept in the first Market Wizards. (Incidentally, Kovner was making 300 million a year in profits at one point, so he might be worth listening to). If a breakout occurs when everyone is expecting it, then everyone is in already, and the odds are not as good because a lot of the buying (or selling) is already done. But if a breakout occurs and no one knows why, then there are (1) potentially powerful hidden reasons for the move, and (2) a whole group of traders who are not in the market yet and may want or need to get in (or out if the move is against them) once the reason comes to light. So, by deduction, if some of the best trades are the ones where the fundamentals reasons are not yet clear, then by paying attention to fundamentals too much, you run the risk of keeping yourself out of the best trades. You have to be willing to say, "I don't know why this setup is occurring, but the technicals are tellling me something that the news might confirm later." Because the news often comes after the window of opportunity has already closed, you often have to be willing to act before the fundamental reasons are clear.

3) Analysts are often biased and have a hesitancy to change views. When an analyst writes down his opinion on a piece of paper and then sends it out for everyone to see, part of his pride and reputation is staked on that opinion. It is a psychological fact that writing something down, and confirming something to other people, makes a person more committed to that belief because humans have a very strong desire to be consistent. That makes him very hesitant to change his mind, even when the facts change. If an analyst is bullish one week and then the facts turn bearish the next week, the analyst should change his mind- but the odds are that he will not, because he will be thinking "well, if i was bullish last week and do a 180 to bearish this week, then I will look stupid." But often that is the right thing to do! Especially for fundamental analysis, being flexible is very important. But most analysts are too worried about their reputations to have that flexibility. This is one reason trends occur, because the masses are hesitant to change their minds even when it is rapidly becoming clear that they should.

4) Much of fundamental analysis is either incomplete or just plain wrong. Even if you have 90% of the puzzle pieces, the 10% that you are missing could be important enough to turn the whole picture upside down. Or if you somehow miraculously have all the pieces, you still have to figure out how to weight them properly and determine what the market is going to pay the most attention to. It is almost impossible to get all the facts correctly uncovered and assembled without overlooking anything. And then there is always the possibility that something could come up by surprise that you were not prepared for. Different analysts with access to the same information will often have directly contradicting opinions on a market. What does that tell you? Generally the only time that the analysts are all on the same page is when the writing on the wall is obvious- and by that time, the move is usually almost done if not over. There is simply no free lunch.

5) Price- the ultimate value judgment of all underlying fundamentals- reveals itself in the technicals. The technicals don't lie and the technicals don't have an emotional bias. They represent the opinions of the entire market, with a heavier weighting towards the bigger and smarter players, and are thus more reliable than individual opinions subject to bias and error. For a fast mover such as myself, this is what needs to be known. I'm interested in the next three days, not the next three months or years.

For the above reasons, fundamental traders caveat emptor.

This is the most comprehensive books on Fundamental Analysis that I have ever seen. This book along with Schwager's Technical Analysis book are required reading for new futures brokers that I hire to my firm.

Mr.Schwager and Mr.Turner have put a very strong mathematical spin on how fundamental analysis can be accomplished. They dissect government trade reports and analyst reports and put an empirical face on the nebulus act of fundamental analysis.

In the preface of the book Mr.Schwager admits that fundamental analysis is not quite accurate. Which begs the question, "why write such a complex book?"

This book is not for the faint of heart, nor is it light reading. It is quite indepth and for the most part above the heads of many beginning futures investors. In order to understand any of the examples you have to have solid trading reference points in your personal trading life.

I recommended it for intermediate traders primarily.

After being involved with futures for 11 years and authoring three books on the subject, I am always impressed at Mr.Schwager thoroughness in researching.

This Series "Schwager on Futures" is the biggest work has ever been written on futures trading. As a Futures Trader I advise everybody to read these books before to starts any real trading in Futures, that if not taken in the proper way can be very painfull. As a Member of IFTA(International federation Of Tecnical Analisys)I suggest you to read it joint with John Murphy's "Technical Analisys f Futures Markets" and "Intermarket Technical Analisys" this will give you a integral knowledge of Futures Environment that is what you need on your Trading philosophy. I always let these books on my desk because I need them so many times during my trading day. THEY ARE A REAL REFERENCE. The good thing of this series is that you can test your comprension by the various study guides. Reading the book about "Managed Trading" You can even get able to judge the returns of the various CTA and decide when it is better to invest in them and to whom give your money.Probably you are not be interested in the Fundamental analisys book but remember, especially in the commodities markets, EVEN IF YOU ARE GOING TO TRADE TECHNICALLY IS VERY IMPORTANT TO UNDERSTAND FUNDAMENTAL ANALISYS!!! Thank you very much to have spent all this time for read me.

The book is probably good for researchers. It is however not suitable for beginners or practitioners.

This is the first (and only) book I have come across which gives a deep and comprehensive analysis of finite element methods for shell structures. The authors take a mathematical approach to the problem, and do a very nice job. Traditionally, finite element procedures for shells have been formulated intuitively hence resulting in mixed success. Mathematical analyses of finite element formulations give a deeper and meaningful insight into the underlying mathematical theory and the reasons why some formulations perform much better than others. This deeper mathematical understanding in turn gives better insight into the physical behaviour of shells as limiting cases are approached (i.e thin shells etc.). Research in finite element analysis, including shells, is very much alive and still has a lot of potential. This book is very valuable for people who want to dig further into mathematical aspects of finite element formulations, and are not just content with "coding" an existing formulation. This is not a "recipe" book, but a book which teaches you how to come up with new, mathematically consistent and meaningful formulations.

This is an excellent book for anybody interested in the analysis of shells. It uniquely presents the physical and mathematical aspects of shell behavior, and their finite element analysis. I believe this book is a MUST for researchers and practioners.

Mr.Schwager is intensely passionate about the markets. This comes through in his thorough analysis of the markets. He has no problem dissecting the fundamental and technical aspects of the market as easily as Michelangelo would paint the Sistine Chapel. His style is heavily influenced by statistics and high level mathematics. His entire voice is centered around the belief that the market can be predicted through analysis of the numbers. Unfortunately, for most people that is not the case. It also seems not to be the case for Mr.Schwager as well, since he admits in his book that he is not a good trader.

That being said, his book is a great reference tool that gets the average trader to stretch himself mentally and look at the markets in a different way. This book ... can be invaluable for the trader that is simply looking for a new perspective besides simply "flags", "candlesticks", and "elliot waves".

Schwager's textbooks while not specifically about spreads are comprehensive and complete about futures. This book has a small section about trading commodity futures spreads.

This book could be renamed as "The Mathematics of Trading". The traget readers are traders who use lots of Mathematics and Statistics.

The experience of Schwager helped me a lot. He said he was good in analysis but not trading. Many people, including me, thought Mathematics, Statistics and Economics were essential for good trading. So they went to college, studied hard, got a degree and hope they could make money in the market. This simply never happen! Otherwise everyone should got a PhD before trading. You still need to develop a method or system. But what is vital is to control your ego. Admit mistakes quickly. This was the most interesting and useful conclusion that I got from Schwager.

Too simplistic. Perhaps good for newbies. But anyway there
are better books on FFT, e.g. Brigham. This one is not for
professionals! You've been warned. For beginners I would recommend books by Zonst. They are much more to the point.
And cheaper! Thanks god I didn't buy it myself!

Of the half-shelf of books in my library related to signal processing, this one by Ramirez is part of a highly valued subset. The author achieves an artful balance of the theoretical with the practical. Given that my emphasis is on applying the principles of FFT processing in a manufacturing environment, his approach proved quite helpful.

Throughout the book, basic concepts are initially presented within a mathematical context. Subsequently, they are reinforced with examples. Often, hardcopies of traces from a signal processor's monitor are provided--these are effective in driving home key points.

After reading this book over two days' time, I was left wishing to see a companion volume that adds more on real-life problem solving, plus material on advanced techniques (e.g., cepstrum). This thirst for more knowledge says a lot for the way in which Ramirez motivates.

This book is a great way to realize that theoretical murmurings can mature into intuitive processes that can be used as guides to self-check new ideas. While FFT theory is necessary, if you like that kind of thing, a good grasp of what may be accomplished is often left out or buried. This book provides a great way to get perspective on rigorous frequency domain textbook theory and make the necessary textbook search for detail much more meaningful. I highly recommend this book for anyone who has to deal with signal processing.

Is there a solutions manual for this book. I need it. Please e-mail me. Wooooooo!!!!!!!!

This book is not as simple as hibbeler's one but it covers all subjects in structural analysis field and it is one of the most well written texts in this field. If you buy this book,certainly you dont waste your money.

I would like to know if there is solution manual for the problems in this book. Could you please tell me by email?

This was the book that I learned Complex Analysis from. Definitely made the subject accessible to pretty much any reader. Plenty of exercises: some more theoretical, some more applied. It skillfully straddles the gap between being a theoretical math book and a math book for people with more applied aims (such as engineers). Most topics are covered thoroughly, though certain more complicated subjects such as winding number are left out for simplicity.

This book definitely prepared me for tackling the dense, theoretical, and exceptional "Complex Analysis" by Ahlfors. I'd recommend it as an introductory book for anyone trying to get into the subject who is intimidated by Ahlfors, as well as for anyone who is only interested in the essential commonly-applied tools.

I have just finished a class using this book, and on the whole its done a good job. I didn't find it in any way super special or anything, but I could read it and understand it. As far as math books go that is pretty good. Lots of exercises with answers in the back, which is what you need. Usually there are worked out examples of the most standard problems, but not always, e.g. there is no example of residue calculus with a Log function.

This first tape contained keen insights regarding Ben Graham, the dean of value investing. Unfortunately, the second tape regarding growth investing was a little slow. Overall the tapes were very gold.

The book helps people to learn the basics of electrical engineering. its not the most impressive book, but it will help college students understand the basics and the explanations of the book and problem are good.

I thought this book was not good as an introductory book to transmission lines. It focussed too much on mathematical derivations rather than on what a transmission line was. Illustrations were sometimes hard to understand. On a positive note, the book does provide a good reference for an experienced engineer.

The author having given courses on the subject for many years, is both familiar with both the material and the needs of new undergarduates, for whom Mathematical analysis is often a daunting subject at first. The book gives a rigorous underpinning to the basics, before extensive chapters on more advanced topics, such as the role analysis plays in indefinite integration and the like. A handy reference book for anyone with an interest in Mathematical Analysis