A Very Animated Investor
In Case You Missed It
Last weekend, I wrote about some of our editors' favorite investing books. You can read the full issue on our Web site by clicking here: http://www.cabot.net/Issues/CWA/Archives/2009/07/Investing-Books.aspx
Several of you wrote in with your own investing book recommendations and comments, some of which are re-printed below. Thanks for writing in and don't forget to add your own comments by emailing or writing on our blog, http://www.iconoclast-investor.com.
The four best books pertaining to investing that will tell the truth about the dynamic "rigged" Wall Street include and no other books are necessary but these:
1. "Wall Street Jungle," By Richard Ney
2. "Wall Street Gang," By Richard Ney
3. "Making it in the Market," By Richard Ney
4. "How to Make the Stock Market Make Money For You," By Ted Warren
Ted Warren died in 1987, and Richard Ney died in 2004. They both left the "investolators" some great information about Wall Street and the truth of the matter of the "rigged" system, which operates against the people/investors.
The best way to beat the "manipulators and insiders" is to align oneself with the specialist in a particular stock so says both men as above-mentioned. According to Ted Warren, the "sleepers" are the best buys once a breakout has occurred.
I have read these books over and over again, and I learn something new each time. I am currently reading the Wall Street Gang once again, and I am enjoying it thoroughly plus I take plenty of notes.
L. from Maine
"Thank You. I am always looking for good books to read. Now if you can tell me how to turn back the clock and read all of these books 40 years ago I can probably retire wealthy. Just kidding of course it is never too late to learn and still exciting to be able to improve one's mind and be in a position to help others."
"Great books, all. Especially: "Beware the Crowd at Extremes: The Importance of Contrary Opinion in the Stock Market" by Ned Davis. Or, as I said in many seminars: "The majority is very seldom right, they are only the majority." The herd instinct wins out.
"I'm just finishing up "House of Cards," all about the Bear Stearns debacle. It amazes me how these businesses operated. It's really kind of scary!!!!"
"I have been reading "One Up On Wall Street," excellent book! Thank you! Reading it really made me motivated to search and find a "10-bagger."
"There are many outstanding books not mentioned in the list. Any book that does not stress the importance of cutting losses quickly is not a must-read book (see 2008). Bear markets do not respect fine income statements and balance sheets. A loss of 50% requires a gain of 100%!!"
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Forget the Dora the Explorer, Hannah Montana and the Jonas Brothers, kids will soon have a new idol to emulate in the form of a new cartoon series starring ... Warren Buffett.
No, your eyes aren't playing tricks on you. The famed billionaire investor is the star of a new online cartoon series aimed at teaching children about financial responsibility.
(After the credit crisis, housing market debacle and stock market meltdown last year, it seems like more than just kids would benefit from this series.)
The series is called the "Secret Millionaire's Club" and will air on AOL's Web site. In an interview, Warren Buffett said the show would strive to "entertain kids and deliver a message."
Buffett will play mentor to a group of kids who go into business--running a candy store--in the series, which was created by a new children's media company called A Squared Entertainment.
The series, which will try to instill healthy financial habits in young people, will debut in the fall and Buffett has already recorded the first episode.
The episodes, which are intended for six- to 11-year-olds, will address the value of patient investments and the risks of credit cards.
The New York Times reported Buffett as saying, "Certain financial habits are not necessarily intuitive. If a young person is exposed to the logic of certain behavior, you're going to get through to some of them."
Sounds like a great idea. Many parents don't spend enough time teaching their kids the values of fiscal responsibility. Do your kids (or grandkids) a favor and help them watch the episodes, so they might be able to avoid some of these mistakes.
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In case you didn't get a chance to read all the issues of Cabot Wealth Advisory this week and want to catch up on any investing and stock tips you might have missed, I have links below to each issue.
Cabot Wealth Advisory 7/27/09 - Bill Gates, Richard Feynman and Tuva
On Monday, Timothy Lutts wrote about Microsoft's project to bring some of Richard Feynman's physics lectures to the public. Tim also wrote about an emerging markets investing idea with high potential. Featured stock: Duoyuan Global Water (DGW).
Cabot Wealth Advisory 7/30/09 - Solutions to the Big Box Housing Problem
On Thursday, Paul Goodwin wrote about India's new plan to distribute ID cards to all of its citizens, even though 93% of the population currently isn't registered with the government for income tax purposes. Paul also wrote about several solutions to the Big Box Housing Problem. Paul finished by writing about a high-potential Chinese insurance company. Featured stock: Cninsure (CISG).
Until next time,
Editor of Cabot Wealth Advisory
Editor's Note: Hulbert Financial Digest has named Cabot China & Emerging Markets Report the #1 newsletter for the past five years. The Report gained 22.8% for the five years ended June 30, 2009, trumping the -1.6% return for the DJ Wilshire 5000 during that time. Editor Paul Goodwin has selected many of the leaders of this new bull market and his subscribers are already seeing big gains! Let him be your guide to the huge profit opportunities in the emerging markets. Don't let this opportunity pass you by.