----- Original Message -----
Sent: Friday, June 15, 2001 3:45 PM
Subject: [sharechat] LEARNING TO INVEST:
List of recommended books
1. Introduction.
Aids, book reviews and
book sellers:
The technical site: < www.stanz.co.nz >, click on
Education, click on Web sites, click on < www.elder.com >, click on
products and books may be ordered.
< www.sharechat.co.nz/education/books.shtml
> gives book reviews and sells books in $NZ: Click
on " Investment Books " then click
on " Pig's
Partner ". Select either title or
Author and the corresponding names in the boxes provided.
2. Books.
Symbols : A: Must have, or highly desirable.
AB: As A
but either superseded or may be
rated slighly less.
B: Very useful.
C: Other. ( T ):
Technical.
AA: " The Buffettology Workbook " by Mary Buffett. It is a
practical book with chapters devoted to Warren's " Understanding Value
investing " and " Intrinsic Value Equations ". Specific
sections discuss definitions and calculations. Intermediate to
advanced. About 200 pages, paperb. $ 30 - $ 39. ISBN: 0684871718 ( Recom.
by Philip Robinson, Brian Brakenridge, G.
S ).
A: " Buffettology " by Mary Buffett and David Clark. This is
the forerunner to: " The Buffettology Workbook ", see
above.
Highly rated.
It concentrates on the methods of pinpointing stocks worth investing in. $
40.( Recom. by Hugh Webber, Philip. Robinson ).
A: " The Warren Buffett Portfolio " by Hagstrom. It discusses
Warren B.'s ability to discover investment trends and his concentration on
" Focus investing " ). Warren's business manager was quoted as
saying it is the best book written on Buffett, to date. It is a sequel to "
The Warren Buffett's way ". IBSN: 0471247669. About $ 75.( Recom. by B.
Brakenridge ).
B: " Buffett Step - by - Step ", by R Pitman. It teaches to
analyse and apply the techniques of W. Buffett, analytical techniques and
rules, followed by case studies. 223 pages. ( Recom. by H. Webber
).
C: " The Motley Fool's Investment Guide " by David and Tom
Gardner. The reader is introduced to names like Ben Graham, Philip Fisher, W.
Buffett and C Munger. $ 39.( Recom. by B. Brakenridge ).
A: " Beyond the Zulu principle " by Jim
Slater. Various aspects of investment are covered, eg.
learning when to buy and when to sell, value investing, portfolio
management, creative accounting, overseas markets. Begin. to immediate.
Paperback, 214 pages, $ 50 ( Recom. by P. Maiden, P.
Robinson ).
A: " Guerrilla Investing " by Peter Siris. It covers company
valuations, details of analyst's reports , charting, and how the market mind
works. Intermediate to advanced. $ 42 ( Recom. by P. Maiden
).
B: " Shortening the Odds - Selecting good NZ shares " by
Nigel McCarter. A good seller! The author shows how to identify stocks which
have good value. He uses NZ examples and tracks NZ shares.
AB: " A random walk down Wall St." by Burton Gordon
Malkiel. Malkiel holds an endowed economics
professorship at Princeton. first written in 1973. His basic premise is that
it is impossible to outperform the market over the long run. This reasoning
has assisted in the growth of Index funds. Each revision includes an
evaluation of newer forms of investment vehicles.( Rec. by Mike Hudson
)
AB:
Contrarian Investment Strategies: The Next Generation..... by David Dreman.
This book offers four contrarian investment tactics that could produce
high-percentage returns, regardless of the size of the reader's
portfolio. Interm. to advanced. $ 45 ( Rec. by David Maunsell
).
A: "
Analysing Company Accounts: A guide for Australian investors ", 3rd
edition, by Martin Roth. Phil. Robinson, who recommends it,
mentions that this a good book for the beginner, intermediate or advanced
investor.
He says that
the book has chapters on analysing banks, I P O prospectuses, annual reports
and others devoted to profitability, margins, cash flows, revenues,
balance sheets and many other items. $ 41.
( T ) AA: " Trading
for a living " by Dr Alex Elder. Translated in 7 languages. His words: "
Successful trading requires 3 M's: Mind ( trading psychology
), Method and Money ( controlling risk )".
The book is richly endowed with charts. $ 107. Rec. by Phyllis Bergquist,
Paedrus). Dr Elder is well known to STANZ. Most traders will have a
copy.
( T ) AA: " Technical
Analysis from A -Z " by Steven Achelis. The developer of MetaStock
software describes every indicator that a trader may use. He arms the trader
with about 100 technical tools. A very clearly written book. H.
cover, 331 pages. $ 125. ( Rec. by Peter Maiden, Phaedrus
).
( T ) A: " Technical Analysis of the financial markets, Comprehensive
Guide to Trading Methods and Applications " by John Murphy. This is a
comprehensive guide to trading methods and applications. It provides an
excellent overview of most aspects of technical analysis. Phaedrus
recommends it and says that the book is suitable for readers at all
levels. 542 pages. ISBN: 0735200661. About $221.
( T
) A: "
Technical Analysis of Stock Trends ", 7th
edition, by Edwards and Magee. According to
Phaedrus, who recommends this book, this 1940 classic remains the
bible on technical stock analysis. It explains every aspect of charting
and basic technical analysis through to advanced trading
techniques. Interm. to advanced. 700 pages, $ US
75.
(
T ) AB: "
Technical Analysis Explained " by Martin Pring. Phaedrus recommends this
book and says that it is one of two books on the reading list for
the American Certified Market Technicians Course. It discusses
Trend-determining techniques, Market structure, The influence of Interest
rates, Market Sentiment Indicators, Analysis of other markets and Candlestick
Charts, also Elliott wave principles. Suitable for beginners but meant for
more advanced traders. 480 pages, $ US 50.
Notes: Reviews have
been checked against those from other sources and found to be consistent with
those issued by these experienced contributors. I also perused some
of these books. Note that all selected books are of
high quality. Some readers may not
agree with these ratings. Quoted prices
can be lower in book shops!
Acknowledgement: I want to thank those
contributors, named or not named, who gave this information to the
Forum.
Gerry Stolwyk
See IRG research reports
