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What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time
 
 

What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time (Hardcover)

by James P. O'Shaughnessy (Author) "There are two main approaches to equity investing: active and passive ..." (more)
3.5 out of 5 stars See all reviews (13 customer reviews)

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Product details

  • Hardcover: 325 pages
  • Publisher: McGraw-Hill Publishing Co.; 2nd Revised edition edition (1 Jun 1998)
  • Language English
  • ISBN-10: 0070482462
  • ISBN-13: 978-0070482463
  • Product Dimensions: 24.3 x 20 x 3.6 cm
  • Average Customer Review: 3.5 out of 5 stars See all reviews (13 customer reviews)
  • Amazon.co.uk Sales Rank: 609,869 in Books (See Bestsellers in Books)

Product Description

Review
"...analysts praised his stock-picking strategy, explained in his well-received book. In it, he digs into more than 40 years of data to find out what strategies would have picked the winning stocks." The Wall Street Journal 19970915

Product Description
"The best investment book of 1996. Very likely, it will be the most influential book on investing in this decade." - "Stock Traders Almanac". "...O'Shaughnessy's conclusion that some strategies do produce consistently strong results, while others underperform could shake up the investment business." Barron's "The New York Times" and "Business Week" bestseller, "What Works on Wall Street" is now updated throughout to include the new data and 50 new sample portfolios. Hailed as "a great book" by Forbes, "What Works on Wall Street" is a must read for any investor looking to make savvy, historically informed decisions.

See all Product Description

Inside This Book (Learn More)
First Sentence
There are two main approaches to equity investing: active and passive. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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What Works on Wall Street: A Guide to the Best-Performing Investment Strategies of All Time
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Customer Reviews

13 Reviews
5 star:
 (4)
4 star:
 (3)
3 star:
 (3)
2 star:
 (1)
1 star:
 (2)
 
 
 
 
 
Average Customer Review
3.5 out of 5 stars (13 customer reviews)
 
 
 
 
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Most Helpful Customer Reviews

 
3 of 3 people found the following review helpful:
3.0 out of 5 stars Honest-minded Data Mining, 17 April 1999
By A Customer
We have a franchise here. Every year we can get a new, revised, set of data-mining, subtly tweaking the deciles and the Sharpe ratios to tilt the recommended strategy toward what worked most recently. Buy one book, but don't keep buying the new calculations: the discussion of Wall Street irrationality is wonderful; but before you trust this book whole-heartedly, read Buffet on why Sharpe ratios (and risk/return considerations) are a dangerous way to approach investing. Read anyone at all on the problem with data-mining. Giving us all the data doesn't change the problem: until these strategies are applied in other markets (Singapore, London, Germany from 1900-1950, say) we won't have an adequate test of how well they work outside of America's particular imperial fortunes. Would a devotion to a long-term all-invested strategy have been sensible in, say, 1930s China? In other words, don't swallow the statistics without some sense of why they happen -- and this book does its best to avoid any consideration of that.
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3 of 3 people found the following review helpful:
5.0 out of 5 stars Best Book Ever Written, 16 Jul 1998
By A Customer
After reading the first edition of What Works, I landed a summer job at Mr. O's firm because I thought the work was incredible. The second edition is even better because the entire market is analyzed with decile studies. Sure, there are a lot of charts but most people benefit from seeing a graph rather than hundreds of numbers. It is easier to comprehend.

The book is not about individual stocks or getting rich quick but rather finding a STRATEGY that works for you. My experience now is that most managers do not have a strategy and cannot articulate why a stock is in their portfolio.

Use the book to develop your OWN ideas. Don't just take his word for it. There are plenty of great strategies just waiting to be discovered.

Patience, discipline, and a little hard work will go a lot longer than the latest hot tip. The book will be a classic.

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2 of 2 people found the following review helpful:
5.0 out of 5 stars Truly the only investment book any thinking person needs., 17 Jul 1998
By A Customer
You can't argue with facts, with logical conclusions based on those facts, with reasoned analysis, or with history. You get them all in Jim O'Shaughnessy's book. He did the digging and the dirty work, and the reader reaps the benefit. Unless you live to day trade...these are the words to live by.
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Most Recent Customer Reviews

2.0 out of 5 stars A Well Done Rehash Without Attribution
This book does a good job rehashing a lot of what empirical academic finance has found in the last 15 years. Read more
Published on 9 Aug 1999

3.0 out of 5 stars Interesting Work But The Uncommon Investor Was Better
I read this book extremely carefully. It is a straight forward, intelligent piece of work filled with numbers. Read more
Published on 30 Jul 1999

1.0 out of 5 stars A total waste of money
The idea behind the book is simple: test many different methods over the course of ~43 years. Why do some work? He doesn't explain. Read more
Published on 13 May 1999

4.0 out of 5 stars Very good and comprehensive analysis of most common strategi
The book contains very comprehensive analyses of the most common investment strategies. The mathematics are easy to comprehend and the conclusions are logic.
Published on 26 Jan 1999

4.0 out of 5 stars Excellent but...
I very much enjoyed the book (and think that it is about the best book on the market), but I did have a couple of problems with it. Read more
Published on 3 Oct 1998

4.0 out of 5 stars Excellent but...
I very much enjoyed the book (and think that it is about the best book on the market), but I did have a couple of problems with it. Read more
Published on 3 Oct 1998

3.0 out of 5 stars too charty
This book was fully annotated and thoroughly researched. However Mr. O'Shaunessy could have much more concisely said, "buy low and sell high. Read more
Published on 7 Jul 1998

5.0 out of 5 stars Excellent!! The way to Find a Winning Stock!
Mr. O'Shaughnessy's research, which spans over 42 years, compares various characteristics of a stock such as; P/E ratios, relative strength, earnings growth, price to book ratios,... Read more
Published on 2 Jul 1998

1.0 out of 5 stars Should be a one page report, not a book
O'Shaughnessy restates some well known relationships between sales, earnings, etc. and stock performance... and that's about it. Read more
Published on 28 Jun 1998

5.0 out of 5 stars New edition corrects significant erros in original.
This is a great book showing what stock picking methods are best and worst. The new 1998 revised edition corrects faulty statistical analysis of the previous version. Read more
Published on 22 May 1998

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