Customer Reviews:
Great Introduction: Practical Common Sense, Little Vodoo, No Magic.......2006-12-07
Kamich's book is not for the expert technical analyst or a professional day trader. It is appropriately respectful of quantitative and fundemental analysis, limits its discussion to the most proven and reliable indicators, and offers some clever speculation about the underlying dynamics of market structure and market participants that explains why technical analysis may be useful. It also provides a little history of technical analysis back to Dow.
The most provocative parts for me were the sections on gap analysis, volume confirmation, and his excellent chapter on reversals.
For someone who either does not know anything about technical analysis or else thinks of it as the astrology of modern finance (or the Rorschach Ink Blots), Kamich's book is a solid and sensible introduction that is as convincing as it is useful.
Note that this is not a catelog of all the major technical indicators or trends in technical analysis. For that book, buy "Murphy's Technical Analysis of the Financial Markets" also from the NY Institute of Finance.
Whether you believe in technical analysis or not, know that the people you are trading against do use these techniques and either way you should know what other participants are seeing in terms of signals and opportunities. This book is an exceptional start.
Not bad, but not great.......2006-07-04
Definately provides a good review of many TA approaches and I really like how Kamich inputs his personal commentary on the market psychology represented by the charts. The big weakness of this book is the lame charts. Considering this is a TA book, which is all about charts, one would think there would be good examples... There are not! I found myself drawing many of the charts he described. In my oppinion, he should have provided them.
A very good balance.......2005-12-22
Kamich provides a very nicely balanced approach, providing a thorough presentation without becoming an encyclopedia of every obscure technical tool available. The book was written long enough after the 2000 peak that the charts provide both bull and bear examples.
Excellent book, but not perfect.......2003-09-30
This is an excellent book for beginners and intermediate traders. It explains TA in a deep but simple way. The real value of this book (for me) is that it explains what is happening, who is buying and who is selling during chart patterns. It also explains how to trade each pattern.
After reading this book i feel much more calm and confident about what is actually happening on the markets. I can now have my own ideas of market movements, despite news, newsletters and other bloated sources of information. This book will serve as a reference for years to come.
The section on chart patterns is deep and complete. It contains all needed informations, but keeping a focus on price action.
The section on indicators covers (well) the most common ones. I would have liked more indicators.
A TA good book but not amazing.......2003-07-02
This is a solid book but it is not a 5 star book. Probably closer to 3 1/2 to 4 stars. Lots of stuff about pennants, flags, support lines, etc. The author does walk you through using the indicators which is very helpful. A lot of TA books describe and indicators and fail to tell you what to do with it. The sections on RSI and stochastics are also good.
I have been using some of the ideas with powerinvestor.com's software and been very pleased. Their web site uses simple to use sector models that have returned 30% a year since 1996.
...
Book Description
Published for the very first time ever. Over 850 practical, easy-to-use historical probabilities on the most commonly traded market scenarios!
For years, traders and investors have been using unproven assumptions about popular patterns such as breakouts, momentum, new highs, new lows, market breadth, put/call ratios and more without knowing if there is a statistical edge.
Have you ever wondered the following...
Do these patterns actually make you money? Read on and you'll be surprised by what 15 years of new, previously unpublished research reveals.
Is there a radically different, better way to trade these patterns and indicators that somehow has escaped the awareness of traders and investors? You'll find the answers below...
The answers to both of these questions and much more is contained in Larry Connors' new book, How Markets Really Work. Through new research, much of which has never before been published, you will be able to clearly see which of nearly 850 meticulously researched patterns and indicators have an edge -- and which do not. Best of all, you will be able to apply this information whenever you trade.
Here's how you can use How Markets Really Work in your trading every day. Learn how to focus on trades that have the best edge and stop trading setups that have zero edge. Every time you trade, just look up the current market action in the book so that you can potentially maximize your winning trades while weeding out the losing ones.
Gain an edge that many traders and professional traders do not have. Most traders will continue to operate according to incorrect conventional wisdom because much of it "seems to make sense." But by using How Markets Really Work as your daily reference guide, you will be able to take advantage of market behaviors that consistently repeated themselves over and over again in the past.
Use it to better time your entries and exits into stocks and ETFs. Many times the trading system or methodology you are using will tell you to enter or exit a trade into price action that matches one of the patterns listed in How Markets Really Work. When this occurs, it's a great opportunity for you to fine tune your actions so that statistical probabilities are working in your favor and not against you.
The knowledge contained in How Markets Really Work can be used in developing your very own systems and strategies. Whether you are a system developer or you just want to improve your existing trading strategy, you can use the core knowledge in this book to stimulate your own research and create new systems.
Impact your trading with never-before-seen research on put/call ratios, price movement, breadth indicators, large one-day moves, volume and much, much more. Whether you use these indicators or not, you will finally be able to make informed decisions about their true value to your trading. Each Chapter Of How Markets Really Work Is Backed By Up To 15 Years Of Historical Results!
Customer Reviews:
A good investment for stock traders.......2006-11-30
I have to laugh at the people who gripe about the price of this book, or any other one for that matter. Point blank, books like this one should be considered investments. If they provide you with information to increase your trading profitability or minimize your losses, then the investment has paid off.
How Markets Really Work is definitely a concise text. I, for one, am happy for that. It is a research report which presents a significant proposition and provides considerable evidence to support it. This book does that efficiently with no extra prose and loads of visual support making it a quick read and one that definitely makes the point it seeks to make.
If you are a stock market trader, especially one focused on the indices, How Markets Really Work is a very good investment. It could very well alter the way you approach your trading.
Contrarian argument.......2006-06-04
This book is a quick argument for short-term contrarian trading in the stock market, backed by a zillion pages of data (that nobody is going to do more than flip through and glance at a page here and there). It does makes a good argument, however.
To follow the conclusion in your own trading you will be buying after the market sells off and selling after it rallies. I actually developed and published a simple system based on these principles using Bollinger Bands and betting on reversals when price hits the outer band and stalls the next day (without bursting through it). It works well most of the time, especially in non-trending markets.
The problem with the book is it's failure to follow through with any suggestions for rule-based systems based on it's conclusion. OK, bet on reversals - when do you place a trade? While the market is still moving or after it stalls? How much of a move does it need to be before entering a position? Is it applicable to all time frames? When do you take profits?
Markets move and then correct in waves 95% of the time. Marcel Link concludes in his excellent book "High Probability Trading" that betting on the smaller-wave corrections just isn't worth it in the long run and you are better off betting on waves in the direction of the bigger trend. I tend to agree.
This book is way, way, waaayyyy overpriced for what it is. That being said, it is the best 1-star book I have read.
For me, books are either a 1 star, 3 star, or 5 star. The 5-stars are the classics that are too good to ever remove from your bookshelf, like many of the books I recommend at winningfinancialstrategies.com. The 3-stars get sold on ebay when the bookshelf overflows. The 1-stars go to Salvation Army.
No Composition.......2006-04-20
Research is expensive but presenting research without composition is worthless. Unfortunately this book presents valuable research without composition and it turns out that the content of this book is to be forgotten right after reading it.
Connors=expensive books for little value.......2006-04-19
all connors books are expensive, very expensive.
a $50 book for a 100 something pages which are all filled with graphs.
i wonder if authors like this can sleep peacefully every night without feeling guilty of ripping people off so much.
i dont mean this book is bad bcoz it is thin, quality cannot be measured with the number pages, John Hull's book is a definite example, with so much quality information contained in a relatively small book. however, all connors books are very expensive in terms of both quality and quantity.
there are many other good and reasonably priced books on a subject like this. Skip Connors.
Larry gives you a fishing pole and some pointers; the rest is up to you.......2005-12-28
This book won't teach you how to fish in the seas of the market. Probably anybody who'd shell $50 for a book like this already has a good theoretical understanding of the dynamics of fishing, and is now onto more sophisticated and practical pusuits like trying to optimize when, where, how they hook their prey.
And if you're in that category, this book will probably meet your needs. For those who are too lazy or computer illiterate to run elaborate backtests themselves (count me into the latter category), messrs Connors and Sen have created a lean volume designed to counter prevailing Wall Street wisdom (that the only way to vast riches is in buying AFTER higher prices, good volume, and good breadth) and extrapolate upon some interesting, reliable setups that the reader can then build his own systems around.
The austerity of the book represents both its major strength and weakness. I would have liked some more analysis of drawdown and risk, but that would be more appropriate for a book on actual trading strategy, not a "data reference" like this. Also, the authors' used essentially the same exit date in each chapter and for each setup, eg, 1-day, 2-days, and 1 week. This is appropriate for many of the short-term traders who would read a book like this, but it would have been interesting if they'd incorporated a few more exit parameters. And lastly, I would have liked a bit more context in terms of where the market itself was on particular dates and during particular setups, but that also exceeded the bounds of this book.
Although "How Markets Work" is a bit pricey for what you get, it's still a good resource and well worth consulting.
Amazon.com
David Faber's The Faber Report is a scathing critique of the greed that permeates all levels of Wall Street, from analysts and investment bankers to money managers and brokers. Faber, who has been covering Wall Street for some 15 years--first as an editor and reporter at Institutional Investor and then, more famously, as a correspondent on CNBC--relates story after story about the conflict of interest that runs rampant between Wall Street and the companies it represents and the investing public. Organized into chapters such as "Why I Hate Analysts," "Why I Love Short Sellers," and "The Truth About Your Broker," the book mixes firsthand observations with advice to individual investors. For example, in the chapter on stock analysts, he advises investors to "Use mass upgrades and downgrades as a contrary indicator" and "Give less credence to positive calls, more credence to negative calls." While some readers may be put off by Faber's self-congratulatory tone, most individual investors would do well to consider Faber's main point about what really happens on Wall Street every day. This book should especially resonate with fans of CNBC's Squawk Box. --Harry C. Edwards
Book Description
These days, when CNBCs David Faber talks, Wall Street listens. Unlike the talking heads that populate the financial news channels, Faber is a down-and-dirty investigative reporter. For six years, on CNBCs popular Squawk Box and in his own segments, Faber has broken story after story. Each day over one million people tune in to hear his daily report. Those who know the score know that Faber is the one to listen toespecially now that the market isnt doing as well as it used to. Now Faber has written the smartest, most innovative investment book to be published in years. Like Harvard Business Schools famous case study method, each chapter is built around a storythe story of how a stock was presented to the public. Then Faber extracts clear, easy-to-follow lessons and instructions on how readers can learn the stocks real story, just as he does everyday on CNBC. Readers learn not just how to pick the stocks they want to invest in, but how to avoid joining the penguins lining up for big losses. The Faber Report combines practical, down to earth investment advice with wild accounts of investor fraud, company misdeeds, and famous investors and banks that have led investors astray. A quantum leap beyond the usual investment books, The Faber Report is essential reading for anyone who wants to profitbulls or bears.
Download Description
These days, when CNBC¿s David Faber talks, Wall Street listens. Unlike the talking heads that populate the financial news channels, Faber is a down-and-dirty investigative reporter. For six years on CNBC¿s popular Squawk Box and in his own segments, Faber has broken story after story and each day, over one million people tune in to hear his daily report. Those who know the score know that Faber is the one to listen to. Now he has written the smartest, most innovative investment book to be published in years. Like Harvard Business School¿s famous case study method, each chapter is built around a story - the story of how a stock was presented to the public. Then Faber extracts clear, easy-to-follow lessons and instructions on how readers can learn the stock¿s real story, just as he does every day on CNBC. Readers learn not just how to pick the stocks they want to invest in, but how to avoid joining the "penguins" lining up for big losses. The Faber Report combines practical, down-to-earth investment advice with wild accounts of investor fraud, company misdeeds, and famous investors and banks that have led investors astray. A quantum leap beyond the usual investment books, The Faber Report is essential reading for anyone who wants to profit, bull market or bear.
Customer Reviews:
Decent read, but not worth $.......2003-05-20
Explaining how analyists work and their associated confilcts of interest is very interesting stuff. However, this book doesn't really offer advice to investors on how to invest intelligently. In the end, this is a decent book with some good info on how the street works, but its not worth $. I dont plan on re-reading this one in the near future.
Something For Everyone.......2002-09-13
Decades from now, when historians want to get a better understanding of what Wall Street was like at the turn of the 21st century, they won't need to look much further than The Faber Report. Faber's book paints an amazingly clear and comprehensive picture of today's investment climate, giving the reader gobs of insight into the inner workings of the Street.
The book has something for everyone; whether you're a novice investor trying to navigate the world of mutual funds or a hedge fund manager with a penchant for short selling, you'll find it eminently useful. (And if you happen to be the New York state attorney general looking for a blueprint to prosecute Jack Grubman and the rest of Wall Street, you'll find the book very worthwhile!) While the book covers investing basics with exceptional clarity (it has a paragraph on the P/E ratio that is one of the best I've seen), it also contains some headier material that more sophisticated investors will find helpful (his 12 point checklist for uncovering financial shenanigans is a keeper).
It's difficult to write a book that is both entertaining and instructive, but Faber has pulled it off in spades.
The Brain's the best there is!.......2002-09-13
There's no one better in the world of financial reporting than David Faber. As a member of the media, I could only wish to be as connected, informed, and intelligent as he is. But most importantly, he's the best there is when it comes to sifting through the b.s. that has plagued Wall Street over recent years. This book is almost uncanny, in that it was written months before the dominant financial headlines that rocked the markets in the summer of 2002. We get the warnings about Worldcom, Imclone, and so on, well before anyone else does. Plus, he tells the reader where they can find raw data, what to look for, and the signs that a stock is trouble. Not really a "How to Invest" book, but rather, a "How to Be Informed" book. This book is a must-read. Faber tells it like it is. He was right in the 1990s when he warned on CNBC about the over valued Internet stocks, and time proved him right. By reading this book, you'll understand what to look for the next time Wall Street starts blowing a bubble.
The Brain's the best there is!.......2002-09-13
There's no one better in the world of financial reporting than David Faber. As a member of the media, I could only wish to be as connected, informed, and intelligent as he is. But most importantly, he's the best there is when it comes to sifting through the b.s. that has plagued Wall Street over recent years. This book is almost uncanny, in that it was written months before the dominant financial headlines that rocked the markets in the summer of 2002. We get the warnings about Worldcom, Imclone, and so on, well before anyone else does. Plus, he tells the reader where they can find raw data, what to look for, and the signs that a stock is trouble. Not really a "How to Invest" book, but rather, a "How to Be Informed" book. This book is a must-read. Faber tells it like it is. He was right in the 1990s when he warned on CNBC about the over valued Internet stocks, and time proved him right. By reading this book, you'll understand what to look for the next time Wall Street starts blowing a bubble.
Good For Understanding Wall Street But Not for Making Money.......2002-08-19
David Faber is a good reporter in that he does not only repeat what information is given to him but injects some analysis and investigation into his stories. These capabilities are reflected in this book in explaining how the different hedge funds, brokers, mutual funds and bankers interact and affect the market. Although there is some fluff , all in all this book is interesting if only to satisfy your curiosity.
On the other hand, even though it gives you an understanding of wall street it offers no help on how to use that to profit. Considering that most individual investors are in the market to make money, this book leaves a gap to be filled. To that effect I found the book " Generate Thousands in cash on your stocks without selling them" recommended by another reviewer to be helpful in supplying specific strategies to recover losses on stocks in this market.
Book Description
How to invest using straightforward common sense instead of misleading"hot tips"
While market pundits argue the rational market theory, one theory gets almost universal consensusthat of the irrational investor. Outsmarting the Smart Money outlines where most investors go wrong and explains how to instead approach the markets with intelligence and calm. Filled with hard-hitting insights and useful lessons, it shows how to use market-proven techniques and strategies to overcome biases, myths, and mistakesand beat the pros at their own game. Cunningham presents flexible security analysis guidelines for investors who want to guide their own portfolios, but don't want to devote all of their free time to the effort including:
- How to overcome personal biases, misleading information, and market inefficiencies
- Methods to avoid being cheated by money managers, and identify "spin" reporting
Customer Reviews:
Disorganised and unhelpful writings! I really want a refund!.......2006-08-05
Dont know whether the author had been too keen to show how good he wrote or to publish a new book or what, this book just lacked the substance to be useful on investment or trading. I doubt whether any reader of it can "understand how markets really work and win the wealth game" per book title by the very descriptive and insightless essays in unlinked chapters. I wonder why some referrals could praise it as an excellent Trading/Investment Psychology book. As a pro trader/CFA/trading book lover, I cant tell anything positive about it. So far I had rated less than five books of this category a one star as far as I remember, and this book is one of the minority.
Barron's Is Right: Top Book of 2002.......2003-01-26
I read Cunningham's book based on the review in Barron's rounding up the best investment books of 2002. They were right. The book is a eye-opening intro to the psychology of investing, important to investors and market observers/regulators. (Cunningham's other books have more of the basics for investors--also very good books.)
Great Book (Odd Title).......2002-09-19
Awesome. Cunningham dissects the woes besetting corporate American using lucid, concrete examples, with boundless energy and enthusiasm, endorsed properly on the back cover by those who take behavioralism seriously, including Gary Belsky, who wrote the top-seller "Why Smart People Make Big Money Mistakes" (which is about general habits, not investment philosophy of which Cunningham writes) and Robert Hagstrom, prolific author (who writes about investment philosophy, and sometimes behavioralism). What an astonishing record Cunningham has developed as a writer and expert in invesetment theory and practice! A better title for this book would be Rational Investing in a Hair Brained Environment; the one chosen is unduly flashy for the seriousness of Cunningham's pursuits (he's a professor of law and business!).
Title promises, but book doesn't deliver........2002-09-02
Doesn't this book sound like a battle plan for investment success, maybe one filled with value-based accounting lessons? It's not.
In fact, we are spared math, and we are not given practical counsel, either. That was what I looking for, as the title suggests. The title should be How Can The Smart Money Be So Dumb.
Instead, this is an interesting run-through of recent horror stories on Wall Street from the Internet bubble to IPO's to pro forma accounting and Enron. Behavioral finance is discussed here, but Why Smart People Make Big Money Mistakes by Gary Belsky and Thomas Gilovich is far superior.
Or read Buffett: The Making of an American Capitalist by Roger Lowenstein. Or John Neff On Investing instead.
Mr. Cunningham is one of the new wave of Buffett explainers. (Where were you people 15 years ago when there was money to be made buying Berkshire?) And why does someone so incisive, so downhome funny as Mr. Buffett need so much explanation?? (Try Cunningham's The Essays of Warren Buffett: Lessons for Corporate America or the Berkshire Hathaway annual report.)
Unfortunately, the author lets slip his idea of a five-year holding period for stocks. That may turn out to be good advice, but which stocks would he choose to hold? We have no idea. (Tech stocks, big winners 2 years ago, have crashed back down to their 1997 prices. And non-tech Walt Disney is well below its 1997 prices.)
I think Mr. Cunningham is an extremely brave and patient investor.
Mind-field.......2002-06-22
In a perfect investment world the price of a stock embodies its value. And those who believe this 'efficient' market hypothesis will be buying index mutual funds certainly not this book. But those who dismiss this academic construct to profit from the inefficiencies evident in the market still run substantial risks not adequately addressed by most investment books. The minefield of risks that Cunningham guides us through is that the biases of others, the cause of those price vs. value anomalies, are also our own biases and can trigger money-losing investment decisions. Overconfidence and the "pattern seeking" bias to project short term trends into the future are just two examples, but they do so some of the worst damage. They lead to a dangerous reliance on margin borrowing and excessive trading activity. Also, recognize that companies make many of the same behavioral errors. It is the author's "smart" investor who can spot the folly of manic acquisitions by companies acting as if they were on steroids - grasping for growth at a fiscal cost. Cunningham dismisses technical analysis as "hokum" (Here he agrees with the proponents of an efficient market who maintain market movements cannot be predicted accurately). Stay away from IPO's, companies relying on pro-forma accounting, and sector funds. Read analyst reports with caution, but do study closely "management's discussion" of their business in the annual report. Be wary of stock buybacks, stock option programs, stock splits, spin-offs, secondary offerings, and performance-based incentive plans. Any of these programs can be abused and rise out of corporate hubris. Above all: Recognize your biases, your tolerance for risk, be objective, and have criteria to know when to sell your positions. A lot of territory is covered in this book with some of the best material appearing in Chapters 10 and 11. Cunningham builds a persuasive case for adopting a long term, value oriented investment philosophy which is least affected by these biases.
Average customer rating:
- Dangerously Inaccurate
- Good introduction to the mechanics of the market
- A fairly good over view for me
- Good general overview for beginners
- Another money maker! . . . just not yours.
|
How The Stock Market Works
John M. Dalton
Manufacturer: Prentice Hall Press
ProductGroup: Book
Binding: Hardcover
 General
| Popular Economics
| Business & Investing
| Subjects
| Books
Introduction
| Investing
| Business & Investing
| Subjects
| Books
Stocks
| Investing
| Business & Investing
| Subjects
| Books
General
| Personal Finance
| Business & Investing
| Subjects
| Books
All Titles
| Qualifying Textbooks - Fall 2007
| Stores
| Books
Business & Investing
| Qualifying Textbooks - Fall 2007
| Stores
| Books
ASIN: 0735201838
Release Date: 2001-05-01 |
Book Description
For the beginning financial professional and the sophisticated investor, here is a thoroughly updated edition of the classic guide to the inner workings of the stock market.
John M. (Jack) Dalton, formerly with the American Stock Exchange, explains the workings of the securities industry, including the initial public offering, types of stocks, who's who inside the brokerage firm, back-office operations, and investment analysis. This updated edition includes new chapters that cover ongoing changes at the NYSE, the AMEX, and Nasdaq, online trading and the globalization of the stock market. The book is also thoroughly updated to reflect changes that have taken place on Wall Street and in the way securities transactions are conducted since the publication of the second edition in 1993.
In addition, a comprehensive glossary that defines more than 600 financial terms—from “Advance-decline theory” and “Arbitrage” to “market-and-limit order” and “Zero plus tick”—enhances the relevance and accessibility of this book.
Customer Reviews:
Dangerously Inaccurate.......2002-06-19
Prentice-Hall is notorious for sloppy textbooks, and this book is in the company tradition. The text was not edited, proofread, or fact-checked. The glossary entry for wash sales is egregious, but almost any page provides examples. All information in this book is therefore suspect.
Good introduction to the mechanics of the market.......2000-05-08
Rather than providing any sort of investment advice, this book explains the actual workings of the stock market. How a trade flows from a customer, through a broker, to the floor, and on to the various settlement engines. It's good background for anyone who invests in the market, and especially useful to anyone who works in (or with) the financial IT industry.
As other reviewers have noted, the poor copy-editing is embarassing. But even with all the typos, the information presented is very useful.
A fairly good over view for me.......1999-10-18
I am just beginning to learn about the stock market, and all the other dimensions that go along with it. I found this book quite informative, I have read it two times now. I use this as a text book to study from. I am also reading other books on the subject to make sure the information I learn is correct.
Good general overview for beginners.......1999-08-24
As a beginner, I found the book to give a good overview of the stock market functionning. It is quite thorough and explains all the fundamental mechanisms. I would also recommend 'What you need to know before you invest' from Rod Davis
Another money maker! . . . just not yours........1999-06-11
Very few people will really tell you how the stock market actually works. If they did, it wouldn't. After you read the basics about placing orders and some technical indicators and patterns they hope you'll jump right in and lose your money. Do yourself a favor, study the market from a social history/military/control mechanism point of view by utilizing free library books. By the time you get it, you'll have saved more start-up capital and you won't go broke. Or, find somebody that will tell you the real deal -- and when you do, listen! Be prepared for a real shock, and then a huge sigh of relief!
Book Description
A Straightforward, In-depth Guide to Investing in Stocks
Personal finance experts agree: stock investing is virtually a requirement for anyone looking to build long-term financial security. Yet even in today's information-saturated environment, millions of potential investors don't knkow where to turn to ask the most basic questions. Most are either led into inappropriate investments or stay completely out of the markets.
Accessible and writtten in the easy-to-understand Q&A format of "How Wall Street Works," "How Stocks Work" contains the information novice investors need to invest with confidence and safety. All essential topics are covered, including: - What popular stock indexes say about the markets - What mutual funds are and why they are important - Risk versus reward in stock ownership - Fundamental and technical analysis - How to choose a broker and place a trade
Customer Reviews:
A Fun Book to Read.......2001-12-10
This is a fun book to read. Though entertaining, it is also educational and will serve you well when you are ready to invest in stocks. In fact, it is packed with important information that is easily assimilated. This book is so interesting that my spouse read it and became interested in the investment process. This has saved me hours in trying to explain how the market works
Strongly recommed this book for family reading. Especially if you have children in high school,college or just entering the work force. A terrific book to take on vacation and read while in the air, at the beach or on ship board.
Lock, STOCK, and Barrel.......2001-11-18
"How Stocks Work," a singularly efficient reference into the world of stocks, was written by celebrated financial author, Dr. David L. Scott. The book is systematically arranged from the concise preview-summaries at the beginning of each chapter, to the discussion of the topics in bold-faced question and answer style, to the indexed listing of subjects. Stock values, stock investments, special tax implications, among other stockholding matters, are treated completely and judiciously. The section examining mutual funds significantly heightend my awaresness of certain investments. The book concludes with specific guidance pertaining to Internet, radio-TV, library, and brokerage firm services available to investment families. "How Stocks Work" should be a desktop manual for both the experienced and the inexperienced stockholder. Unquestionably, Dr. Scott has again succeeded in conveying sense and sensibility toward our investments...lock, STOCK, and barrel.
Customer Reviews:
What makes the STOCK MARKET "tick!".......2007-03-07
The evolution of the stock market, its "why's" and "wherefores", all in layman's terms -- not just for "kiddies" but for all ages!
NOTE: another noteworthy book which is part of this series: Allman, Barbara
BANKING.
(originally attempted to review this when the book first came out, but unfortunately the template did not "take.")
Amazon.com
By outlining and explaining the enigmatic terms and concepts used to track and ultimately determine stock movements, The Math Behind Wall Street: How the Market Works and How to Make it Work for You, by Bentley College mathematics professor Nicholas Teebagy, is designed to provide average investors with financial tools that usually are the province of professionals. Intimidated by the likes of ARCH/GARCH models and neural networks? Don't be. Teebagy begins by describing the basics of probability and risk in order to clarify the way that uncertain future events are taken into account to form a well-reasoned investment analysis. In clear language, and with the welcome assistance of numerous charts and graphs, he then goes on to specify how all this can be used to calculate the potential performance of an entire portfolio. Lastly, he offers an introduction to advanced topics such as the aforementioned ARCH/GARCH models (for tracking periods of continued volatility) and neural networks (which attempt to imitate the way human brains process information). While not for the fiscally faint of heart, this short but information-packed volume will assist serious investors as they try to keep ahead of evolving market trends. --Howard Rothman
Book Description
Expertly written for both the newcomer to Wall Street and the veteran, this title provides information on what makes the markets work. Explanations of covariance, Beta, indexing, neural networks and much more. Charts & graphs. . .
Customer Reviews:
Great reference.......2007-04-24
The value of this book is not as an instructional book (yes, it is too short for that. The bibliography of this book provides excellent direction for further instruction), but as a reference. It is a pretty comprehensive reference for basic finance math. The only thing missing is risk management formulas (VaR, etc). I used this is a constant reference while doing my MBA and found it made my life much easier! Highly recommended.
A good reference for investment formulas.......2005-05-17
This is a great book.
I use it as a reference for putting formulas into my investment spreadsheets.
It would be a good read, if you can reading a mathematics book enjoyable, in order to become familiar with the concepts behind probability, risk, and measuring return on an investment or portfolio. As already stated, I just use it as reference material - but I find myself going to it again and again.
The Best Introduction.......2003-11-16
I am currently on a Financial Markets course that is at Masters Level. I bought this book because of its small size and the basic details it covers. I have many other bigger books that go into more detail about stock pricing. However, this book really does explain the basics better than any other I have read. It explains in very simple and statistical terms areas such as the Simple Index Model (SIM), CAPM , Measuring performance of a portfolio, and Modern Portfolio theory. It also touches the surface of advanced moddelling in ARCH/GARCH.
But what really sets it apart is that it explains terms not from a purely academic point of view but a much more informative way by looking at how investors should and would approach a problem. If you have some understanding of statistics such as mean and variance (although both are explained in the book) then I would recommend this book to anyone who is thinking about embarking on an investment course of some kind. It is a definite read for any beginner and will make the course easier becasue it explains the fundamentals very well.
Savvy, informative, invaluable reading........2000-06-04
Savvy investors in the stock market need knowledge of the math behind the market, and The Math Behind Wall Street provides it: a slim book masks a wealth of information covering statistics, probability, and other practical applications of business math concepts. From risk factors to annual rates of return, The Math Behind Wall Street will prove invaluable.
Excellent for technical oriented investors.......2000-05-25
This book places heavy emphasis on the technical and mathematical aspect of investing. It is quite excellent but I found the math to be very advanced and therefore it is probably not suitable to most individual investors. Like the previous reviewer, I also found the book to be too brief.
This book definitely has merit, but it isn't right for beginners or the mainstream investment community. The best audience would be investors with highly specialized investing methods.
Customer Reviews:
Reply to previous review.......2002-03-04
The first reviewer of this book obviously did not read it. The book is an extremly well balanced description of the stock market -it shows and explains all the possible pitfalls that can occur when trading. It also dedicates a whole chapter to different methods of investing your money - real estate, antiques, fine wines.... Personally I found the book a great introduction to the stock market and would recommend it to anybody who just wants to understand the business section of their Sunday paper
Another money maker! . . . just not yours........1999-06-15
Very few people will really tell you how the stock market actually works. If they did, it wouldn't. After you read the basics about placing orders and some technical indicators and patterns they hope you'll jump right in and lose your money. Do yourself a favor, study the market from a social history/military/control mechanism point of view by utilizing free library books. By the time you get it, you'll have saved more start-up capital and you won't go broke. Or, find somebody that will tell you the real deal -- and when you do, listen! Be prepared for a real shock, and then a huge sigh of relief!
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