----- 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but either superseded or may be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
