Money-market-security

Wiley Investment Classics generally fall into two categories, tough and dreary reads full of information, and lively entertaining accounts which also educate. Unfortunately, Mr. Bagehot and Mr. Bernstein's text is the former. The book does an outstanding job of promoting the importance of a strong central banking system and the importance of strict credit control when combating financial crises. However, it does so amidst extremely repetitive and somewhat painful language. The authors provide outstanding quantitative and anecdotal evidence supporting their case, but they do so in such a way that makes the book a true labor to read.

This book would be very beneficial to anyone doing research on, or working for some kind of central banking organization. Otherwise, I would suggest looking to any of the other Wiley Investment Classics for a more interesting and educational read about finance.

Can a book about finance written in 1873 be helpful in a world with complex financial markets and plenty of information about how they work? The answer is yes. It is not that "Lombard Street" is a classic that one finds quoted many a time; the reader's interest should transcend historical inquiry or curiosity; "Lombard Street" should be read and revered by anyone interested in the underlying, abiding features of financial markets.

But what are those characteristics? Bagehot, then editor of The Economist, writes that credit centers on trust: "Credit means that a certain confidence is given, a certain trust reposed." And, banks always have on-demand liabilities that far exceed their readily available assets. In short, credit works on trust, and the system, in the absence of trust, can fall apart rapidly.

What follows from these premises is a careful examination of how the money market came about, what its uses are, how its operations are connected to trade and country's overall welfare, and, most importantly, how central banks can deal with financial crises. Written elegantly, "Lombard Street" is, at the same time, an introductory overview of the market and a trenchant analysis of its most salient features.

But what makes "Lombard Street" timeless is that it deals with finance in its human form. Bagehot talks about power, prestige and perception as much as he does about interest, discount, and credit. Trust is based on institutions and people: the human features of finance-trust, anxiety, mania, optimism-are timeless and apply to the financial markets of the nineteenth, twentieth, or twenty-first century. That is why "Lombard Street" is an ever useful introduction and guide.

Walter Bagehot was the first editor of the now world-famous Economist magazine, which has in many ways remained faithful to the liberal philosophy (in a European sense)of its founder. Lombard Street might be difficult to read at first, but as with Charles Dickens once you get used to the style the tale is riveting. And his advice on how a central bank, as the lender of last resort, should behave in the face of a banking crisis remains valid to this day.

Wonderful concise book which details most formulas needed in finance/actuarial studies. Full of examples and excellent step by step explainations make this pocket sized book and excellent study tool. This is suited to the Australian student though American/Canadian perspective is catered for since the author had extensive experience in North American Markets. Good read.

I've been following Wade Cook's strategies since 1997. The techniques work. My first trade using Wade's strategies garnered me a 350% return.Free stocks is a catchy title but offers strategies that really work. If anything now is the time to be building your portfolio and using the market swings to benefit.Don't made Wade your only source of information though and never commit more than 2%-5% of your portfolio to option trading.Other books I recommend are 9 Steps to 7 Figures by Carlson and The Mutual Fund Wealth Builder by Dick Fabian.Outside of the stock market, the 16% Solution and Cashing in on Cash Flow are outstanding reads.I also recommend Bear Market Baloney (now WSMM#3) by Wade.You can always make money in the market. During the Nasdaq meltdown from March 2000, I made an average of 50% on no load mutual stock & bond funds and up to 600% bottom fishing undervalued stocks.Try it. It works!tcdefran@webtv.net

Wall Street Money Machine Vol 5 is basically a covered call handbook. In this book, Wade Cook shows you to make the market pay for your stocks.

I have been an investor for over ten years and have a brokers license but never knew you could do this. Unfortunately, brokers are never taught these strategies, only license requirements.

I highly recommend Wall Street Money Machine Vol. 5 for anyone who wants to make some real money in the market.

In Wall Street Money Machine Vol 5-Free Stocks: How to get the market to pay for your stocks-FREE Wade Cook introduces the LOCC (Large Option Covered Call) system. This system is a machine-a machine for generating consistent cash flow in sufficient quantities to better any lifestyle. A system that literally lets you get your stocks for FREE!

There is a saying that when something sounds too good to be true it usually is right? What's the catch you may be asking yourself. Is there a catch? To be brutually honest, yes there is, but it's not what you may think it is.

There is a way to get your stocks for free, which, if you get to the bottom-line root meaning of FREE, is simply that you do not pay for your stocks yourself. We're talking about quality stocks that you get to choose! You can be as diversifiedas you want. And get this-you can pretty much start with any amount of money you have.

This is not a get rich quick plan. Nor is this some ambiguous, nebulous method that only a few people can master and use. It is also not a theory, but an in-the-trenches, workable, cash flow stock market machine. This plan takes a simple yet overlooked aspect of the stock and options markets and puts it to full use. The results are dynamic and far-reaching.

LOCC has a beginning, middle and an end. It puts the emphasis where it should be; on generating income so you can retire. Yes, huge assets are nice, but let's go for simple ways to build steady monthly income so we can do more of the simple yet wonderful things that life has to offer.

If you like the buy and hold strategy of investing, in FREE STOCKS, you will learn how to get the market to pay for your stocks in 5 to 7 months with the LOCC system.

In FREE STOCKS, you will learn:

- Option cycles and market makers
- How implied volatility affects option pricing
- Buybacks and Rolloouts
- Stock Repair Kit
- How to put volatility on your side
- Be a seller, not a buyer
- When to get your money
- Exploration of ways to increase gains and reduce taxes
- What to do if the stock dips-Make more money!

Finally, if you followed more traditional forms of investing and lost a ton of money in the stock market over the last three years, FREE STOCKS may be just what the doctor ordered to get back on track and make that money back.

During the Bear Market of the last three years, I and others used the strategies in FREE STOCKS to recover losses on deep dips. Question: How much money did you lose by not knowing these strategies? And how much money will you lose by not applying these strategies going forward?

Get the book. It's a must read!

Like a previous reviewer, I was not impressed overall by the book. It has some interesting things to say, but many of the techniques are either very common or don't fit in my trading style. The section on MMA is very interesting though, and it has been incorporated into my trading plan, as I find it very interesting.

The complaint about the authors use of metastock in another review was rather silly, in my estimation; the use is simple enough that any reader should be able to look at the formula and decide they can implement that themselves rather easily (or maybe decide that the formula is not important, and they have elements in their trading plan that already do it).

A word of warning, this is not a day trading book. If you want something intraday or extremely short term (a la 1-5 day swing trading) this book is probably not the best choice.

This is the authors reply to the Singapore review. I trade for a living and the MMA is one of my core indicators. It has been presented in real time at many Australian, Asian and US workshops and is used successfully by many traders and some fund managers. We also show the operation of this indicator in real time in our weekly newsletter. To suggest that chart illustrations are 'fudged' is slanderous and incorrect. With more experience in TA and with modern charting packages, he would note the changes in scaling in the two extracts and still be able to match the dates of the identifie turning points. The depth of market information for many Asian exchanges is readily available from several Singapore based web sites.

I recommend this book to all traders because there are a number of good points and new ideas mentioned in it which I find useful to my trading. It is infinitely better than a lot of the newly-published daytrading books out there.

This book had a little more meat in it than the Learn and Earn. Solid information if you are just starting out
Summary:
Join an investors club
Pick a maximum of 10 companies
Buy stocks or stocks in a mutual fund
Buy them on a regular basis
Know something about those stocks
Hold your course regardless of outside factors
Do your homework: PE, book value, goodwill, debt, and same store sales just to name a few
Buy more good stocks when others are selling
Perform a regular six month check up
Overall this book is good but not Great

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

Reed Floren

My profession is writing, but my business is investing. With over 50 years of experience in the stock market and having made millions, I think I know what's up. Not only is this book definitive on stock picking, it is also fun and easy to read and the author's humanity comes right through. And the core message that you can do better than the fund managers (for a variety of reasons) is, from my own experience, true. Try Lynch's system: What worked for him, might work for you. Oh yes, by the way, this book is mainly a repeat and better version of his previous work and represents a more masterful and confident telling of the ways to beat the street.

Although this might be a perfect book for those looking for simplicity, I would not advise it to anybody with previous exposure to finance.
The book is a way too simple, and reveals huge ignorance on the markets outside the US.
I think the book is very much a benchmark to reveal ignorant finance - teachers.

I've used some version of this book for many years now, and I've seen it evolve. I think, as other reviewers have said, that there are some simplified portions of the book, especially those parts dealing with monetary economics. There are other portions which lay out the principles as only these authors can, and those parts are extremely helpful and valuable. This book allows me to teach my notes and thoughts with a textbook serving as a reference and an introduction -- it doesn't get in my way, in other words. I use it along with several other texts, and I think it gets the job done. Students seem to like it as well, mainly for its clarity. For someone wanting to learn the basics, this is an excellent choice.

This book is not an advanced book on financial markets, but it is a good introductory book. I use this book for my undergraduate teaching. Both I and students are happy about the coverage of the book. It is well organized and well written. Improvements will be valuable in the derivatives markets and risk management areas.

There is an old joke about a guy who wakes up in a car in the middle of a field and has no idea where he is or how he got there. He flags down the first guy he sees and asks him where he is, to which he replies, "you are sitting in a car in the middle of a field". Our lost friend replies, "you must be an accountant, because while everything you say is totally accurate, it is completely useless".

This 600-plus page book is written like a sterile academic textbook for a course devoid of any real world knowledge or experience. Ironically, the author states that the book evolved as a result of a course he teaches.

It is stated that the author was a floor trader with many years experience on a Wall Street futures exchange (been there, done that). If this is in fact true, there is not a single anecdote about his own trading experiences in the entire book, at least what I read of it. What we would be interested in is a chronicle of how the author achieved competency and his experiences on the road to trading success, if in fact he achieved this. Did he have a successful trader as a mentor? How long did he lose money as a trader before achieving success? What were some of his significant breakthroughs as a trader? Did he have a "trading epiphany"? What were the major mistakes he saw traders make who ultimately failed? What is his greatest advice for new traders?

Unfortunately, we will never know the answer to these questions, because this author completely missed the point in writing a book on trading.

There are 33 chapters in this 639 page book which practically put everything you can think of about trading or investment into it. Technical Analysis, Fundamental Analysis, Trading Psychology, Options, Commodities... simply everything. The problem is: dont know whether it's the intent of the author to give so general an idea of everything to its readers or he is too agressive to encompass so much in one single book. He just used a page or two to describe very complicated items like MACD, Stochastics, Gann Fan, Fibonnaci numbers, Bonds, Computer Trading, Crude Oil, Platinum, Gamma, Theta, Rho, Delta Neutral Trading........

In case you just want to have a close to nothing idea of the highly complicated trading or investment market, it's for you. In case you read in order to earn an edge to profit in market where 90% to 95% of the participants are doomed to fail, forget about this.

Robert Rotella captures the essence of trading psychology. This book is a must read for all investors - regardless of timeframe, experience, or markets traded. I rank it in the top five trading books I've ever read.

How do you rate a book that has some excellent advice, but 90% of the text is redundant filler? I chose three stars because even one good idea is worth a few hours of your time. I think I would have enjoyed the audio CD more because it's probably more condensed.

The book warns of many financial obstacles, but has little in the way of strategies to avoid them.

Here. . . I'll save you some time:

The stock market is going to crash around 2016 because of a law called ERISA, so prepare yourself accordingly.

You can make money in up and down markets if you know what to do.

Don't trust your money to mutual fund managers.

Buy, hold, and diversify is not the great strategy you think it is.

Educate yourself financially, but if you don't, stick with buy, hold, and diversify.

Real estate is a better investment for many because you can control it more readily.

There. . . now you don't have to read the book. That'll be twelve dollars.

I did not expect to get much out of this book. I expected the usual litany of admonitions and suggestions available in hundreds of articles and basic books on finance for the masses. Despite that low expectation, the first chapter had me hooked.

With an aging population, turmoil in the stock markets, and lack of knowledge about how much money is needed for retirement, author Robert Kiyosaki gives specifics to support his theory about predictable problems facing those who hope to retire.

The book won't appeal to people who are satisfied with their current job and have no plans to change in the future. But for those who care about government policy and how these policies and demographics are impacting our society, the book is eye-opening as well as easy-to read.

The "rich dad, poor dad" vehicle gets old but is stiff an effective and sometimes entertaining vehicle for conveying information.

If you take a look at the date when this books was released and then go back and check the stock market, you'll find that everything Rich Dad predicted is in fact coming true.

What is really scary is that Rich Dad predicted this years ago!

I highly recommend this book along with Rich Dad's Guide to Investing for anyone who wants to become a successful investor.

If you want to continue to loose money and get broker, then listen to your broker. That is why they are called "brokers" Listen to them and you'll become "broker."

This book provides a comprehensive overview of various money markets.

The reviewers that have written that this book is out of date are absolutely right. However, I had many other problems with the book even when the last edition was relatively new.

If you know nothing about money and financial markets, you will learn something. But if already understand these markets, you will be confounded by the mountains impossible-to-verify anecdotes and the many passages that are extremely vague. Apparently, what collection casual comments from a few people out of thousands of market participants constitutes hard research. At least the data that is easy to come by is in there.

This is fairly easy to read, but at the same time horribly written in places. I felt that the task the author assigned herself was just too overwhelming at times, and her skill and attention frequently faltered. Better to leave parts out, however, than to fill them in with mediocrity and innaccuracy.

If you are completely clueless about this sort of stuff, you probably ought to buy this book. But these days, you will find more than enough -- and more complete -- information by simply doing a web search.

I was inspired to purchase this book after a well-known Risk Management website said that the 2002 edition was out. (They have fixed this little error on their website.) It's a great book for stories to tell your clients and I am sure it was a great source when it came out, but the most current edition is 13 years old! It is very hard for me to read this when I am constantly thinking that every description of some aspect of the money market may be outdated. I feel that booksellers and reviewers who fail to mention this when they praise this volume are doing a disservice, unless they know for a fact that the money markets have not changed.

It appears by deduction that Mr. Choudrhy (alias Gagan Singh) is responsible for all of the one-star reviews below. It seems he feels that any commercially successful book with titles similar to his releases are over-rated, for beginners, or offer nothing new and deserve multiple negative reviews. Fair and balanced is not in the mindset.

Ms. Stigum's excellent work on the dynamics of the U.S. money markets that can be used for analogies to the global money markets is appreciated by financial experts the world over. Believe the positive reviews and don't miss an opportunity to read a find work on the financial markets.

This is a well-informed and very readable book on the informational value of the financial markets. However, this is not a how-to book on stock picking. What Mr Insana is concerned with in this book is not so much what price movements can tell us about an individual stock, but the macro information that the financial markets can tell us about the economy, geopolitics, major news events etc. There's almost no advice on individual stock picking based on price movements (too noisy), but there are advices on how to choose a job, time the purchase of a new home, move cash in and out of the market etc. based on the message of the markets.

In retrospect, some of the messages from the markets identified in the book are quite prescient. A good example is the rapid deterioration in the A/D line at the height of the Internet bubble. Of course that phenonmenon did not go unnoticed by the market pros. I clearly remember numerous analysts assuring viewers on CNBC that the stock market was not over-valued (and therefore in no danger of collapsing) because so many stocks were in the doldrums!

The book was filled with anecdotes about how major economic and geopolitical events (from Fed rate cuts to border wars between Egypt and Libya) are foreshadowed by unexplained market movements. Had Mr. Insana focused on the rationale behind these movements his argument would've been a lot more convincing. Instead, the book had a tendency to ascribe a sort of magical, oracular power to the market and the "smart money" that makes the market. Of course the real reason is a lot more mundane. Sometimes it's rampant insider trading (as in the oil futures mkt). At other times anyone who has bothered to read a newspaper would have seen it coming from a mile away. A good example is the collapse of the Thai baht. Any regular reader of the Far Eastern Economic Review would not have needed the markets to send a msg - for months the magazine was filled with dire warnings of imminent collapse in its op-ed pages.

Another issue that Mr. Insana did not address is the very important question of how to separate the signal from the noise emanating from the market 24 hours a day. As someone who had (foolishly) dabbled in the futures market, I know first hand that wild swings in the market can be triggered but nothing more dramatic than a 1/2-hr T-storm in downtown Chicago. (I always susepct that if I wait at a 2nd fl. window at the CBOT and sprinkle water on the head of a particular trader as he leaves the building, I can make a killing in soybeans.) In the days of old when the market was almost the exclusive domain of the Smart Money in the know, the msg. of the mkts was probably a lot more reliable than today, when the unwashed masses can steamroll the smart money based on the most ludicrous rumor posted on Pump-n-dump.com. How to separate the grains from the chaff is something we'll have to leave to another CNBC author.

BTW, there really is a web site called pumpanddump.com.

Those other reviewers (as well as CNBC, Amazon and financial experts) are right. SIMPLE MONEY SOLUTIONS by Nancy Lloyd (a Federal Reserve Board economist who I see frequently on CNBC and read in the New York Times Sunday Business) and this book by Ron Insana are all I needed to finally make sense of my personal finances and begin making good investment decisions for my personal portfolio as well as my 401(k) plan.

By using the outstanding, original and easy-to-follow advice in these two books my net worth has actually risen into the high six (6) figures!!! Not bad while the market is stagnating or dropping.

My friends, whose portfolios have been plunging in value, are in awe of my newfound financial savvy and skyrocketing bottom line.

And I owe it all to the information I picked up in these two incredible books. Ron and Nancy should patent this advice. It beats anything I've read elsewhere.

CNBC anchor Ron Insana's second book on the stock market, "The Message of the Markets," follows "Traders' Tales" in 1996, and does an excellent job of selling you on the idea that the market does send signals for anyone who's interested in looking for them. Using Insana's words, "Many times the prices of stocks, bonds, and commodities accurately anticipate or forecast future events. "But what is a "market?" If a market is where buyers and sellers come together and agree to exchange assets - stocks, bonds, futures, options, wheat, oil, gold, cloth, Beanie Babies, guns, drugs, etc., then the "message" of the market has to be the PRICE resulting from that exchange. That price level conveys enough information that if you know what you are looking for, you will be able to anticipate future events solely on the basis of price and its trend. Why? Because there is what Insana calls "smart money" and "dumb money."Smart money belongs to insiders, those closest to the action who see and know what is happening. They act on their knowledge, leaving their tell-tale footprints of transaction prices for all to see. Then there are the outsiders; the ones who wake up one morning and read about something that just happened, realize that it is significant, and decide to catch the obvious trend already in progress, invariably buying from those same insiders who got in months ago anticipating exactly that outcome. What Insana doesn't say is that without smart money to indicate the way, all markets would be chaotic, panic-driven price spikes in either direction as everybody tried to react to the same thing at the same time. He is particularly correct when he warns to watch out for the price move "with no apparent reason." It can signal momentous events on the horizon.The real message of the book thus becomes that if you learn to track where the "smart money" is going, then in addition to profiting along with the insiders on the various price moves, you can also make more intelligent business, investment, and career decisions. Insana uses the interest rate yield curve as well as popular averages to predict the onset of recessions; market internals (Advance/Decline Line, diverging Dow Jones Averages, etc.) to predict the stock market; and commodity price movements to predict geopolitical events.
He gives industry/sector group relative strength rotation credit for frequently predicting the economy's strengths and weaknesses and cites ways in which this can be used in selecting career paths as well as suggesting business trends. He uses commodity price moves as signals that foretell future events such as Chernobyl, the Gulf War, the Egypt-Libya potential war, and other geopolitical upheavals.  However, I believe he makes too much of the market selling off just prior to the announcement that JFK had been shot. There is a story about a certain well-known network newscaster in Dallas making the call back to his NY newsroom, then ripping the pay phone out of the wall to keep other reporters from using it to get to their newsrooms. So there may have been real reasons for the news delay. Anyway, the market was shut down with the Dow suffering only a 3% decline. After remaining closed one additional day, the market continued its upward climb for the next 3 years. While a member of the Pacific Stock Exchange, I witnessed the same momentary "front-running" when Reagan was shot on March 30, 1981. On that day something "felt" amiss when we suddenly got hit will an avalanche of sell orders. Minutes later, the news tape announced that the president had been shot. But like in the Kennedy situation, the market dipped momentarily, then continued its rally. In these two cases, the message was inconsequential, financially speaking. After giving numerous examples of what market signals are and how they've fared over the years, Insana asks his most thought-provoking question: "So why was it that most investors, all the world's politicians...failed to notice trouble signs on the horizon? Once again, it was the failure of many observers to pay attention to the market's ominous message."  The implication being that the rain clouds were forming but nobody took notice. The answer is simple yet unsatisfying: As long as we listen to what "they" say instead of watching what "they" do, we will always fall victim to "their" market. What Insana is making a case for is a market discipline termed Technical Analysis. It looks at market action, valuing above all else the constant interplay between the supply and demand for a any tradable entity, and considers Fundamental Analysis (Wall Street research) as so much hot air. It is not a particularly popular stance, but it is much closer to allying yourself with reality than anything else.