(5) = Best; (4) = Better; (3) = Good; (2) = Fair; (1) = OK
These abstracts serve as reminders to myself; they serve to "jog" my memory on what a book was all about. That's all. This is not a literary critique, not a social commentary, and certainly nothing profound to warrant further discussion.
(5) = means that I really enjoyed this book; (1) = means I finished reading it but wonder if my time could have been better spent elsewhere.
This book was recommended by Better Investing, a magazine of the NAIA, the national organization that started Investment Clubs across the country.
This is a .must read. book. Chapter 6 on Tax Strategies offers a practical teaser. Especially the section on the Roth IRA (pages 105 ff.). I wish we had started ideas suggested in the section on .Kids and Retirement Plans. (p. 109 ff.):
.Say your 12 year old earns $20 a week - $1,000 . which is put into an IRA. Say, further you give him an extra $20 a week spending money to make up for what he puts away. That way he won.t mind.
What.s the point? Well.if he does this for 10 years through age 22.and if this is invested in an IRA account then at age 70 (don.t laugh!) that $10,000 you helped him put away would be worth $1.5 million . enough to throw off $180,000 a year for 20 years, to age 90.
There is no magic to this (just the magic of doing it.) And inflation will surely erode the value of that $180,000, but if we average 3% inflation over all those years, it would still be the equilvalent of $25,000 or $30,000 a year for 20 years in today.s buying power. Not bad for ten annual contributions of $1,000.
How many old folks do you know today who couldn.t use a $25,000 a year income boost?.
Good question.
It is not too late!
Chapter Seven highlights Twelve important points; he might devote a paragraph to one point, yet, will devote several pages to another point! One appear trite like “Buy low and sell high” “You laugh. Yet most people…shun the market when its getting drubbed and venture back only after it has recovered and appears…to be “healthy.” Tobias devotes almost three pages on this one point citing history, other authors and giving reasons why “this is just the time to be getting into the market, not out.”
I rate a (5) book.
What does a beginning investor in the stock market need to know? Everybody and his uncle will tell you what to do and share stories of their success. But what do they really know? Let’s see what the experts have to say. This is my point of view and that has led me to this book titled, Stock Market Wizards
The book used a Question/Answer format and I found the insights and information to be valuable. They use so many technical and trading terms I can hardly follow them, but nevertheless they’re interesting and forces me to ask more questions.
I’ve never heard of the names listed in this book - Stuart Walton, Michael Lauer,Steve Watson, Dana Galante, etcetera. I’ll mention one that was fascinating, e.g., Alphonse “Buddy” Fletcher Jr. - a successful Black who did very well. It was impossible to follow his reasoning in Options trading and Financing in Arbitrage situations (?) but his approach was titled, “Win-Win Investing.” He used “an options box spread” – whatever that means - and was extremely successful in minimizing risk.
A useful summary of the Ahmet Okumus interview was helpful. To the question: “What is the specific checklist you use before buying a stock?” Answer: The stock must meet the following criteria. (1) The company has a good track record in terms of growing their earnings per share, revenues per share, and cash flow per share; (2) The company has an attractive book value; (3) The stock is down sharply, often trading near its recent low. But this weakness has to be due to a short-term reason while the long-term fundamentals remain sound; 4) There is significant insider buying or ownership, and (5) Sometimes if a new management team with a good track record of turning companies around may be an additional reason to buy the stock.
I rate this book with a 5.
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