I have had the pleasure of meeting the author Mark Shipman in a journalistic capacity and I must say he does not come across as the sort of chap who sits it out on the fence when it comes to trading strategies or speaking his mind on investing. This is mirrored in his engaging commentary in the financial press as well as this very readable book about investing in commodities.
Shipman posses a world of experience when it comes to playing the markets and it reflects in his written work. Some parts of the book stand above the rest, for instance his treatment of the psychology of successful long term investing. He also makes a passionate case for why commodities are where one should put one's money. Examples of technical analysis techniques as envisaged by Richard Donchian in the book are also noteworthy, more so as Shipman explains how he uses these techniques / strategies when trading himself.
On reading it I thought it was brilliant! Two people have borrowed it from me - they think it was very good too! However, there is the odd caveat or two. First of all, the treatment of spread-betting is inadequate. Secondly, in my opinion as a financial journalist this book on its own cannot help one develop a personal investment strategy from scratch.
I remain deeply sceptical if such a layman's investment bible exists anywhere. Shipman's sound advice and guidance should be taken on board, but this book is no one-stop shop for buying investing acumen. It is complementary investment literature and not a supplementary one. Caution is needed. It may be used among a pool of resources to be used to learn more, but not on a stand alone basis. That's despite the fact that it is undoubtedly among the best in its genre.