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This book tells you how to do just that. It is occasionally easy to make money buying and selling stocks. It gives good stock investment techniques for "home gamers" that are willing to do some simple research.
I downloaded TNLGTSMI to my Kindle on February 1st thinking I would get the January 2010 version of the book. The version that is available now on Kindle is the 2008 version.
His biggest tip is James O'Shaughnessy's cornerstone value strategy, which was identified 14 years ago (1996). Kelly's assets the bulk come from book royalties and not stock picking. 50/50 shot of that. Other than this supposed tip, he basically just talks up ValueLine's service and how you should do lots of hard work and analysis and then you can beat the pros.
However, this book is for the neophyte investor. I bought this book in hopes that I would get thoughtful analysis like Mr. But it wasn't enough to make me happy I bought the book.Further, it provides ideas how you can beat the market. One of those two strategies (which you can invest in via HFCVX) has materially underperformed both its benchmark Russell 1000 Value Index and the S&P 500 Index over the past decade. Yet he goes on to tell you how you can beat the market. And if you invested in both you'd have probably been better off in an index fund. The other HFCGX has materially outperformed through Aug 2009 (both stats are according to CXO Advisory group).
It's more a dummies guide to the stock market rather than an investing book. After this hard work, you'll know how to 'time' the market so you can get in and out with a tidy profit. Yet, Mr. Kelly provides on his blog.
If you have absolutely no idea how the stock market works, then you definitely want this book. Kelly himself states 'gurus' can't do it and beat the market just 48% of the time. But if you add in the next 6 mos, this performance diminishes (although it still outperforms). I'll bet if we look at Mr.
What a waste of money. The most interesting part of this book was the quotes from 6 "masters" of the market (Buffett, Fisher, Graham, Lynch, Miller & O'Neil). Still - would you have chosen the right fund.
Many times you would not have the advantage to find such companies. And if there was everyone will make it. Check out the books of Toby Crabel and Linda Raschke - they are hedge fund managers. Very simple and easy to read. IF you are lucky you may still their books on Ebay or Amazon somewhere. In reality fundamental stock selection methods are often vague and take time to implement.
Although their books are out of print you will see how they make money though showing you the patterns they use. This is a terrific little book. However, we all know that there is no simple way to make money. And there are other methods to make money that are based on better methods for stock selection.
It's a great book and I'd recommend it to anyone interested in understanding the stockmarket. I finished it excited to start investing and use everything I had just learned. I picked this book up hoping to learn a little something about the stock market, instead I have come away with more knowledge than I ever thought I'd get out of a book. The book covers the basics and shows you how to evaluate stocks, build you own worksheet and also includes strategies. Jason Kelly breaks everything down so it is easy to understand and very entertaining to read.
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