Relay-Version: version B 2.10 5/3/83; site utzoo.UUCP Path: utzoo!watmath!clyde!burl!ulysses!mhuxr!mhuxt!houxm!ihnp4!ltuxa!we53!wucs!slu70!guy From: guy@slu70.UUCP Newsgroups: net.invest Subject: investment reading Message-ID: <170@slu70.UUCP> Date: Wed, 12-Mar-86 09:44:14 EST Article-I.D.: slu70.170 Posted: Wed Mar 12 09:44:14 1986 Date-Received: Sat, 15-Mar-86 02:12:58 EST Organization: Saint Louis University, St. Louis, MO Lines: 131 Keywords: books, periodicals, investments Here is a belated and somewhat edited summary of the responses I recieved to my request for reading suggestions. Thanks for the responses Guy M. Smith ----------- I got hold of a "paperback" a few years back when the stock was really hot. This book "How to Buy Stocks" by Louis Engel and Brendan Boyd was $3.95 from Bantam Books. It can be found in most bookstores. What a buy for $3.95 these days..... It has most things we should know if we try to invest money wisely. It has basic info on differences between bond, stock, .... and how Wall Street works. T. paul Lee ------------ I also just took a book out of the library which I haven't had a chance to read, so maybe someone else will comment. It's called How to Read and Profit from Financial News, by Gerald Krefetz. >From the table of contents, it looks like it gives you alot more information that the other book. More of what are the relevent factors in different markets than what the actual details of the workings of the markets. Comments? -------- I would like to recommend the "No-Nonsense Financial Guide" series of paperback publications selling for $3.50 each. Topics include; 'Understanding the Stock Market" "Understanding mutual Funds" "Understanding Money Market Funds" "Understanding Common Stocks" and "Understanding IRSs" These titles arte available at B. Dalton and Waldenbooks. Excellent for beginners. --------- There are probably hundreds of newsletters out there, which one you choose is up to you. At least take the following into consideration when choosing: 1. What is the track record of the author? In otherwords what is the percentage of winning positions to total positions held. 2. What is the annual rate of return from these positions. This does not include taking into account commissions, but does take into account dividends. You still can make transactions through your regular broker like me. 3. The news letter should monitor the market conditions as well as recommendations. 4. A good quality news letter should not cost more than $150/yr. 5. The newsletter should not come out once a month or 3 weeks. Too much happens in this period of time. I mean you will not come close to market lows to buy and near market highs to sell. If you can monitor the market conditions yourself (i.e., not aiming at market lows and highs but in the general time vicinity before these event occurs then I would try a news letter by Dick Davis which I am getting interested in. This letter goes against my previous recommendations. But this newsletter monitors other newsletters recommendations and is published monthly at 95 or was it 195 dollars. leroy litzhoff --------- I think the book "Gaining on the Market", by Charles Rolo is very good. I can't recommend any particular periodical, but I subscribe to a lot of stuff, including Barrons'. I enjoy their publication and would probably take it even if I wasn't in the market. Maurice -------- I highly recommend any of Richard Ney's books on the stock market. They are real eye-openers. You may not agree with him, but he does offer an interesting perspective about the stock exchange and the way it REALLY works, and provides plenty of documentation to back up his opinions. There are three books out by him: The Wall Street Gang The Wall Street Jungle Making It In The Market Some may be out of print by now, but look for them in your library. Dave Kirby -------- I'd *highly* recommend "A Random Walk Down Wall Street" by Malkiol (sp?). Well written, debunks a lot of myth and nonsense; a real classic. -------- Louis Engel's "How to Buy Stocks" is considered the definitive text on the inner workings of the stock market. It describes the beginnings of the market (some friends meeting under a large tree on Wall Street) and other interesting historical facts, in addition to those nuances of the markets, Big Board and Over-The-Counter, that make sense out of security trading. In addition, it has recently been updated to include the dereg- ulation of the larger markets and what other changes may occur. I recommend it highly. -------- A few books, not necessarily in order, I have found most useful over the years are: The Sophisticated Investor The Art of Contrary Thinking The Battle for Investment Survival The Gambling Secrets of Nick the Greek Reminisences of a Stock Operator The last is a novel but useful nonetheless. The Gambling book teaches some basic rules about risk management. Bob Peirce, Pittsburgh, PA -------- I recommend "The Intellegent Investor" by Ben Graham. dan johnston