- Paperback: 148 pages
- Publisher: Lulu.com (22 Mar 2007)
- Language English
- ISBN-10: 1430316608
- ISBN-13: 978-1430316602
- Product Dimensions: 15.2 x 22.9 x 0.9 cm
- Average Customer Review: 3.0 out of 5 stars See all reviews (2 customer reviews)
- Amazon Bestsellers Rank: 1,234,492 in Books (See Top 100 in Books)
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More About the Author
Product Description
Product Description
THIS IS ABOUT MY LIFE AS A STOCK MARKET SPECULATOR. AND MY GRADUAL TRANSFORMATION FROM A CONSERVATIVE BLUE-CHIP INVESTOR INTO A STEELY EYED, RIVERBOAT GAMBLER WITH NERVES OF STEEL. WHO FOUND WHAT HE WAS LOOKING FOR IN THE STRANGE AND WONDROUS WORLD OF MICRO-CAP INVESTING. ALLOW ME TO INTRODUCE YOU INTO MY WORLD. A WORLD WHERE YOU CAN MAKE A FORTUNE ON A CHUMP-CHANGE INVESTMENT.
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Customer Reviews
Most Helpful Customer Reviews
Format:Paperback
This book is very disappointing...
It is the first trading/investment book I couldn't bear keeping in my collection, and I had to throw it away.
I am a technical trader and only trade based on price.
After seeing the good reviews, I decided to give this a go. Why not, let's see if I can learn something about penny stocks.
Unfortunately for me, the author's approach is based on value investing, which is an approach I strongly dislike.
If I had known, I wouldn't have bought it, but it is my fault for not doing more research and being fooled by all the positive (fake?) reviews on the US amazon website.
BUT this is not why I rate the book 1 star!!!
Here's why:
In the first 30 pages or so, the author trashes every known and successful trader/investor: Jesse Livermore, William O'Neill, etc.
He even trashes Benjamin Graham, the father of value investment!
And he goes on to trash any other investment/method that is different from his.
The author is full of clichés et misconceptions about the market and the other methods.
Note to the author: If you don't understand them, fine, but why do you feel the need to trash these methods?
They worked (and continue to work) for many, consistently, over years, and some made a fortune on them. It is not blind luck.
Just because you can not make money on momentum trading does not mean it doesn't work.
Just because you have no clue how to time the market does not mean the market is random in a short term period, and it certainly does not mean others can not time the market or can not make money trading short term.
Many make CONSISTENT money day trading or swing trading.
You just have to learn to read price action.
And you do not need to trash other traders/investors who made a lot more money than you'll ever make from trading the market, and who left an amazing legacy by documenting their methods, that inspired many.
I quickly gave up on the book and couldn't finish it, the author's attitude was EXTREMELY irritating.
I gave the book to a friend who is a pure value investor and he did not like it either.
He found it very amateurish and borderline gambling, and didn't find any added value in it.
Note to author: if you ever write a 2nd edition, lose the attitude, and focus on organizing your thoughts and documenting/explaining your edge.
It is the first trading/investment book I couldn't bear keeping in my collection, and I had to throw it away.
I am a technical trader and only trade based on price.
After seeing the good reviews, I decided to give this a go. Why not, let's see if I can learn something about penny stocks.
Unfortunately for me, the author's approach is based on value investing, which is an approach I strongly dislike.
If I had known, I wouldn't have bought it, but it is my fault for not doing more research and being fooled by all the positive (fake?) reviews on the US amazon website.
BUT this is not why I rate the book 1 star!!!
Here's why:
In the first 30 pages or so, the author trashes every known and successful trader/investor: Jesse Livermore, William O'Neill, etc.
He even trashes Benjamin Graham, the father of value investment!
And he goes on to trash any other investment/method that is different from his.
The author is full of clichés et misconceptions about the market and the other methods.
Note to the author: If you don't understand them, fine, but why do you feel the need to trash these methods?
They worked (and continue to work) for many, consistently, over years, and some made a fortune on them. It is not blind luck.
Just because you can not make money on momentum trading does not mean it doesn't work.
Just because you have no clue how to time the market does not mean the market is random in a short term period, and it certainly does not mean others can not time the market or can not make money trading short term.
Many make CONSISTENT money day trading or swing trading.
You just have to learn to read price action.
And you do not need to trash other traders/investors who made a lot more money than you'll ever make from trading the market, and who left an amazing legacy by documenting their methods, that inspired many.
I quickly gave up on the book and couldn't finish it, the author's attitude was EXTREMELY irritating.
I gave the book to a friend who is a pure value investor and he did not like it either.
He found it very amateurish and borderline gambling, and didn't find any added value in it.
Note to author: if you ever write a 2nd edition, lose the attitude, and focus on organizing your thoughts and documenting/explaining your edge.
0 of 1 people found the following review helpful
Format:Paperback
I thoroughly recommend this book. It opened my eyes to an alternative view on investing in the stock market. The author speaks from the heart and bases his advice on decades of experience. I emailed him directly with some queries on his investment strategies and he replied in a down-to-earth and frank manner. I have now read it 4 times and the material is as fresh as ever. Look on amazon.com for the reviews of this book and you will see how well it has been received.
Most Helpful Customer Reviews on Amazon.com (beta)
Amazon.com:
52 reviews
17 of 18 people found the following review helpful
Wonderful, Old timer Investor Masterpiece!
5 Dec 2007
Format:Paperback
What a great, great book! I don't usually leave reviews, but I am something of an investing book guru, because I own dang near all of them. In the past year or so I've read 12 "penny stock" books and (while this isn't entirely all about penny stocks) this the best one hands down. Aside from being an entertaining read, this book is filled with information regarding sectors I never thought about for penny stocks. This book is worth whatever I paid for it just for his one single penny stock strategy. Let alone he gives his whole investment strategy is this 100 or so page book. I enjoyed reading this book and wish the author would write more, because his hatred for the wall street hypocrit/coward nearly matches mine.
13 of 14 people found the following review helpful
This book opened an entire new world to me!
31 Jan 2009
Format:Paperback
This book opened an entire new world to me! Fred does an excellent job of making a case for investing in scarce resources that WILL go up--gold, silver, oil, etc. Then he shows step by step how to find absolute rock bottom bargains on oil, silver, gold, and other stocks. This is not your run of the mill book.
My favorite discussion in the book is on penny mining stocks. These are stocks that give you incredible leverage because they cost anywhere from .05+ a piece. Not only do you get leverage but you also make enormous sums if these stocks go up even a few cents. And the risk is minimum because you can buy a ton of stock when their price is so low.
Not only was the book an excellent read but it also entirely and permanently opened up a new world to me. It changed my paradigm completely! Out of all the books on investing I have read (I read 1 or 2 a month and have been doing so for some time), this is one of the top two I have read!
My favorite discussion in the book is on penny mining stocks. These are stocks that give you incredible leverage because they cost anywhere from .05+ a piece. Not only do you get leverage but you also make enormous sums if these stocks go up even a few cents. And the risk is minimum because you can buy a ton of stock when their price is so low.
Not only was the book an excellent read but it also entirely and permanently opened up a new world to me. It changed my paradigm completely! Out of all the books on investing I have read (I read 1 or 2 a month and have been doing so for some time), this is one of the top two I have read!
6 of 6 people found the following review helpful
FORTY YEARS A SPECULATOR
13 April 2009
Format:Paperback
Fred Carach speaks from the weight of experience gained from the
school of hard knocks. As a futures and options trader myself with
twenty years in the industry, even from a brief reading it's readily
apparent that the author truly knows his craft -- the business of
small cap investing within the natural resource sector.
His trading style and philosophy are completely unorthodox (a big plus
point in my book). His views on technical analysis, stop-loss orders
and other conventional Wall Street wisdom surely would have him
condemned for heresy, however, I suspect the author would feel such a
charge be considered a badge of honour.
This book is full of common sense and a distillation of wonderful
investment stories. I can highly recommend it.
school of hard knocks. As a futures and options trader myself with
twenty years in the industry, even from a brief reading it's readily
apparent that the author truly knows his craft -- the business of
small cap investing within the natural resource sector.
His trading style and philosophy are completely unorthodox (a big plus
point in my book). His views on technical analysis, stop-loss orders
and other conventional Wall Street wisdom surely would have him
condemned for heresy, however, I suspect the author would feel such a
charge be considered a badge of honour.
This book is full of common sense and a distillation of wonderful
investment stories. I can highly recommend it.
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