101 Investment Lessons from the Wizards of Wall Street: The by Michael Sincere

By Michael Sincere

Suggestion: learn Michael Sincere's most modern ebook: All approximately industry symptoms (McGraw-Hill, 2011), or realizing shares (McGraw-Hill, 2003).

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This frees you from worrying about eighth and quarter points. " Page 67 PART 3 DOING YOUR HOMEWORK 23. Read Everything You Can About the Market Many successful investors have discovered that the most effective way to gain an edge over other investors is to read books. How to find the best stocks, the trading strategies of top investors, and other stock market secrets can be found at the public library or bookstore. There are also dozens of magazines and newspapers to meet the needs of every type of investor.

Buffett said that is exactly why he won't invest in the Internet companiesbecause they are impossible to value. Like Buffett, many value investors avoid companies with little or no current earnings and sky-high P/E ratios. Individual investors who want to learn how to value businesses should start with the Benjamin Graham books. If you find these books too dry, you might want to pick up a copy of Value Investing Made Easy by Janet Lowe. This book does a good job of explaining value investing so the average investor can understand it.

On the other extreme, you have people looking for a fast way to get rich. They are not concerned with risk. For these people, the stock market is a huge casino with slightly better odds. They think investing in the market is the same as placing a bet at the racetrack or buying a lottery ticket. For the chance to win big in the market, they will eagerly risk everything they own. Dr. Schott calls these people market gamblers. They love the excitement of trading. He estimates that 10 percent of all investors fall into this category.

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