Street
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"...A SONG ON HER LIPS, AND A LANTERN IN HER HAND."
Love and Faith Keep You GoingMy brother and I both read this book in high school. He did a book report on it. It is really excellent reading, and should be read by anyone who enjoys historical novels. This book was based on a true-life story.
This is a masterpeiceThis book was written in the 1920's, yet every word still rings true. For god sakes, someone, get this OUT of the "young adult" category--this novel speaks to every woman, no matter her age.

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outstanding book
Relevant, Practical Ideas -- a Must Read
Consistency is the keyHis reasons for writing the book it seems is frustration with the image the world has of traders in which the unsung career pro goes unnoticed. Whatever his reasons are it is a privilege to gain an insight into the mind and methodology of a New Market Wizard.
His methods are a mixture of fundamental and technical analysis. He uses economics as a forecasting tool and says that cycle analysis actually just gets in the way. If you can understand the fundamentals of economics you can interpret government intervention in the market and profit from it.University taught economics is useless for this. All booms and busts are a result of credit expansion in an effort to lower interest rates, whereas Keynesian economics attempts to use interventionalist policy to smooth out the peaks and troughs but in fact is the predominant cause. Surplus production, savings and innovation create wealth as much for the individual as the economy on the whole. Wealth is actually consumed by government created prosperity via deficit spending. You can't get something for nothing. By understanding these cycles, you can speculate profitably.
Technical tools can then be used for timing entry. He demonstrates how trendlines can be drawn objectively to determine a change in trend using his 123 and 2B rules. A unique approach in this book is an approach to measuring risk by calculating market life expectancy profiles which he says has been instrumental to his success along with his business philosophy of protecting capital, consistent profitability and the pursuit of superior gains.
This book is as much a confession of the soul as a guide on trading methods, which I've found most of the best trading books are.

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Okay
I liked it a lot,first it was slow but it got better later.
I Love the Cheater! It Teaches a Great Lesson!In the beginning can understand why Carter needed to cheat. Her father was putting pressure on her to get a high score on the SAT's. Well, what happen was that she panicked so she got Adam Messner to do it for her. Well, she thought that she had promised that one favor for him, a date in exchange if he take the test for her, but instead he wanted more. He wanted alot more.
In this chilling book, what the message is that you don't get way with something like cheating. It has a higher price to pay. Just because you think that you promise this or that, you are going to get your way out of things. But Carter learned the hard way. She not only got herself in jeporday, she betrayed her boyfiend, forced her best friend to do something that she wouldn't normally asks her to do.
The Cheater is about when done wrong, you are going to have to suffer the consquence.

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Pridectable
I loved it!
a great book!
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One of the Best books he has written
Xcellent!
Great Book
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Laymen's FunHis viewpoints are clearly from the beginner's point of view, or rather the beginner intermediate- the guy who has just accepted that trading is luck only and that long term investing is simple diversification. He hasn't quite accepted that there are true winners out there and that there is something of an art to the game and eagerly puts any down who attempt to play it. Clearly he has associated with those who are not "in the know" [...]
Anyways, I started at page 1 and read almost to halfway through the whole book before I could bare no more. I really did try to read it through, thinking that I could squeeze something worthwhile out of it. No, I can stand it anymore. I think I'll leave it at the train station on the way to the coffee shop right now! Waste of $[...] and an hour or so of my time..
Definitely not deserving of "Wiley Investment Classic" with the likes of Fisher and LeFevre.
Hilariously funny, and bitingly trueOn that note, the book is surprisingly well-written. Schwed's educational background is, as he says, in 19th century Romantic poets, not in business. His writing style is quite similar to that of "Stanley Bing," with the same kind of "har-har" wit, and a thin sprinkling of self-disgust.
If you think your full-service broker knows the future, or that technical analysis really works, or that "they" are driving down stock prices, read this book for an education about Wall Street. However, even if you already know the truth about these things (and especially if you've read Malkiel's book, or any treatment of efficient markets theory), this book is valuable for some very funny observations and notes.
The other reviewers are right about how relevant this book is for today: it was written in 1940, but aside from the minor technological differences between then and now (e.g., allusions to ticker machines), it could well have been written in 2000.
This book is an excellent warning about too much faith in Wall Street pros (who Schwed says aren't crooks -- they're not smart enough to be crooks), with some genuinely funny (I laughed out loud, and I'm a tough customer with humor) observations and allusions.
An Investment Classic All Stock Investors Should Read!This book's fame far exceeds the number of people who have read it. Almost every experienced stock investor will cite examples from the book, without even knowing their source.
The title refers to an ancient story (which the author finds is probably at least 100 years old by now) about a visitor to New York who admired the yachts that the bankers and brokers had in the harbor. Naively, he then asked where the customers' yachts were. Naturally, there were no customers' yachts.
Let me set the stage. The author spent two years on Wall Street in the 20s, but knew it better than that and continued to invest in stocks. He wrote the book in 1940 after the horrible bear years of 1929-1940. The memories of the 1920s were still fresh. Then he updated the book in 1955 in the midst of the 50s bull market with a new introduction in which he explained that the book did not need updating.
Although commissions are no longer fixed, and few spend the day sitting in a broker's office, many of the other observations in the book remain as timely as those in The Madness of Crowds. Human nature doesn't change.
Behind all of the hype about getting rich with stock investments is a sad reality. Over a lifetime, the vast majority of people get poor results from their stock investing. Around 90 percent of professionals will also underperform the market averages over their careers.
But the desire to "outsmart" everyone else is almost universal. Raging bull markets, like the one we had until March 2000 on the NASDAQ, only tend to reinforce these ultimately expensive urges.
I have been around professional investors for over thirty years and all the big scores I remember involving stocks came after someone who was a founder or worked for a company that went public cashed in their stock and stock options after many years of service. These are not stock-investing events, they are entrepreneurial compensation. In the Money Game, Adam Smith pointed that out, and it remains as true today as it was then.
One of the classic stories in this book is about what would happen if 4000 people started flipping coins against each other. You are eliminated from the competition after one loss. Although by definition, half would win and half with lose with each flip, those who had won ten times in a row (as must happen for some in this format) would soon start to give lessons in coin flipping techniques. That story nicely captures the folly of Wall Street. Even though some may win, it usually doesn't mean anything.
The book contains other investment classic stories that you must have in your repertoire. The book is brilliantly illustrated by the classy cartoons of Peter Arno. It is worth acquiring the book just for those.
The subjects covered include Wall Street's passion for prophecy, financiers and seers, customers (or the sheep to be shorn), mutual funds, short sellers, options, speculators and the bull market of the 20s, and the excuses handed out to those who are relieved of their money.
The writing style is urbane and witty. For example, there is the usual disclaimer on not following the advice in the book in the beginning. Except, it is illustrated by two hands with fingers crossed. And, the warnings are a just little different. The information in this book "while not guaranteed by us, has been obtained from sources which have not in the past proved particularly reliable."
The author had discovered that titles cannot be copyrighted, and he "had planned to have my book appear under a good title, The Adventures of Huckleberry Finn."
The author's favorite review of the book contained this phrase, "If I were J.P. Morgan, and I have no reason to suspect that I am not . . . .", and was signed by the author of the review, Mr. Frank Sullivan. The subsequent witty correspondence between them is included in the introduction.
If you are a fan of Louis Rukeyser, you will find the humor here comparable with the badinage on Wall $treet Week during the opening comments.
Seriously, the humor in this book will help you to better understand the risks associated with stock investing. There is a wonderful quiz you can take that will tell whether or not you should be a stock investor. Most will not pass that quiz.
If you still want to own stocks, I suggest that you advance to John Bogle's book, Common Sense About Mutual Funds. It can make you some real money.
If you do not want to own stocks, go instead to Rich Dad, Poor Dad. Follow on to Cash Flow Quadrant.
I also suggest you think about where else folly is taken seriously. This will also put things in perspective for you. My favorite location is the Congress of the United States.
Keep looking for those yachts when you make your investments! To whom do they belong?

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Diversify and Index Your Investments
worth its weight in goldinvestors should keep to low-cost index funds, broadly
diversified internationally and across asset classes--is
supported by an extremely thorough review of relevant research.
Why should you buy low cost index funds? Swedroe says:
(1) Fund fees--not past performance and Morningstar ratings--
are the prime determinant of performance within asset classes.
High fees, low returns.
(2) Typical funds have high turnover, incurring substantial
trading costs, market impact costs (having to pay too much for
large blocks of stock), and most importantly, paying out huge
capital gains to taxpaying shareholders.
(3) Indexing helps an investor clearly identify her strategy,
and therefore stay the course, better than strategies based on
"a little of this and a little of that."
(4) Almost all variation in mutual fund returns is attributable
to the investing style used (small versus large cap, growth
versus value), and * not to stock picking per se *. Therefore,
if you want exposure to an investing style such as small cap
value, buy the index, and don't pay a manager 1.5% to mimic the
index.
(5) Almost no funds beat the market on a long-term basis.
These points are indisputable, and should lead all investors to
put down their Fortune and Barrons and get on with their lives.
Of course, * somebody * needs to pore over company financials and
market trends and Fed policy, etc. But it should not be the
typical investor. And since people are out there doing it anyway,
there is no need for any given investor to * pay * them to do it
by paying high fees for money management and investment advice.
An aside: Swedroe's company, Buckingham Asset Management, has
access to an excellent set of low cost index funds from DFA.
These are superior to Vanguard's in two ways: (1) they offer
more asset classes, and (2) they screen * all * stocks for
valuation and size criteria, rather than restricting attention
to the stocks that happen to be in popular indices such as those
from Russell or S&P. But, unfortunately, you need to use a DFA-
affiliated advisor to have access to the funds. If you don't,
then good luck finding an international small-cap or small-cap
value index fund.
At last, investment advice free from Wall-Street hype.
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"Sometimes the truth can kill you."Like most of Stine's books, "The Confession" was a breeze to finish; and like only a few of his books, it's one I halfway enjoyed. The trite cliffhangers and simple writing style are all still the same, but at least it was fast paced enough for me to finish it off in only a few hours. Recommended to Fear Street fans.
VERY well-written
I would suggest this book for everyone to read.
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a good piece of common-sense
The book that started it all for meAdmittedly, Zweig's writing style is fairly academic (he's a PhD). The book is different from many in that much of it works to set forth a model which will allow you to be on the right side of the general market for its major moves. When you boil it down, the primary influences on the model are interest rates, and measuring the underlying strength of the averages. I can now attest firsthand to the durability of this model - I have been dutifully running it myself since 1990 and it has performed admirably. Major BUY signals came in 12/90, 1/96, and 1/01. SELL signals came in 5/94 and 9/99. Again, those were not perfect bottoms and tops, but allowed you to participate in the major upmoves and avoid significant stretches of downward activity. Other useful discussions include those on sentiment and seasonal indicators. The fundamental portion of the book leaves something to be desired - stock picking is not Zweig's strong suit. By the way, opinions suggesting that Zweig is a speculator are off the mark. In fact, his approach is designed to 1) minimize risk, and 2) catch the majority (middle portion) of a market move. (...) Winning on Wall Street has become one of my best reference tools. If you are serious about building your understanding of the markets and improving your investment results, this is a book that you must own.
Make the trend your friend - Zwiegs system works
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Funny, Fun and ShockingIt really brings us upclose and personal with the biggest rogues on Wall Street. The portraits of Jack Grubman and Mary Meeker are especially compelling. I highly recommend this book - easy to read, lucid and with a sense of bemusement only a true new yorker can have...shame we have to wait for his next book
LIARS' POKER meets the Tech Bubble
Funny and insightful stories from inside the late BubbleHis stories, escapades, and perspectives will lift the veil for those still innocent enough to believe that salesmen and account managers for the big trading houses have their clients' best interest at heart. I know we learned in b-school about the Random Walk, and arbitrage theory. All of that and the other stuff we learned is important to know. However, more valuable are the real world insights he provides about the structural changes and unintended consequences of the Small Order Execution System and its effect on liquidity and price volatility, Sarbanes-Oxley and the closing off of information to investors, ECNs and the erosion of trading income and the change to emphasis on fees and deals to provide income, momentum investing (momos), and more.
I am also very glad that he does not let individual investors off the hook for their own foolishness with their retirement and investment income. Remember, the greater fool theory cannot work without new people volunteering for the job. In the afterword the author also briefly demonstrates why all of the popular theories for the bubble and its popping are all true and none true. All contributed, but none we alone sufficient. Like most disasters, the likely cause is a confluence of little events combined into something no one much caused or could stop.
There is an obvious comparison to Michael Lewis's wonderful "Liar's Poker" and I would recommend this book just as highly. Mr. Kessler's career spanned a long enough time to chronicle the change from his being afraid to recommend a stock that could drop in price to Henry Blodget being afraid to downgrade a stock that could still go up in price. An amazing journey indeed and we are the better for his having chronicled it for us in such an entertaining way.
Abby Mackenzie is eight years old when she moves to a little community with her family, and meets Will Deal. Well, all her young life, Abby has been told the story of her aristocratic father married her peasant mother, putting the rest of the family into peasantry. Her dream is to be like her aristocratic grandmother, Isabel Anders-Mackenzie, who has a portrait which Abby has only seen in her imagination.
Well, when Abby grows older, she is courted by the dashing young doctor, Ed Mathews, who proposes while her friend Will is off at war. She thinks that if she marries him, she will have the chance to pursue all the dreams of being a fine lady, especially enriching her lovely singing voice. But, then Will comes home, and Abby marries him, realizing that he was the one she really loved. So, the newly weds pioneer-on-over to Nebraska Territory, where they raise a family.
The rest of the story tells of their life on the prairie, and how Abby is able to live her dreams through her children instead of herself. The book goes on until she dies in her eighties. I loved it with all of my heart, and absolutely COULD NOT have imagined a sweeter ending than the one Aldrich gave. Read this book!