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100 to 1 in the stock market;: A distinguished security analyst tells how to make more of your investment opportunities, Hardcover – 1972

4 out of 5 stars 20 customer reviews

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Hardcover, 1972
$98.01 $6.99
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Product Details

  • Hardcover: 288 pages
  • Publisher: McGraw-Hill; Clean & Tight Contents edition (1972)
  • Language: English
  • ISBN-10: 0070497729
  • ISBN-13: 978-0070497726
  • Product Dimensions: 9.1 x 6.6 x 1.1 inches
  • Shipping Weight: 1.6 pounds
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (20 customer reviews)
  • Amazon Best Sellers Rank: #441,694 in Books (See Top 100 in Books)

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Customer Reviews

Top Customer Reviews

Format: Hardcover
Of all the books on investing that I've read over the years, this one was at once, the most pleasurable and most challanging to my own beliefs. Mr. Phelps spent over 40 years in and around Wall Street and the world of investing. His activities included being a private investor, columnist, analyst, author and financial advisor. His career spanned from just before the Crash of 1929 to the 70's.
In spite of the the rather glamorous title, the book is actually about Buy and Hold investing. Yes, it is true that you could have made a million dollars by buying any of about 350 stocks he mentions if you had invested $10,000 and just sat back and watched it grow over time! Doesn't sound that exciting, does it? However, I hope you didn't miss the point that he mentions AT LEAST 350 opportunities to have done this! Most of the companies' names will be quite familiar to most readers.
With the histories of many of these companies available, Mr. Phelps goes back in time to examine what it was about these companies that made their potential as great as it was. How can one begin to see what it takes for a company to do well? Well enough to drive its stock from $1.00 to $100.00 over a period of time? This is the heart of Mr. Phelps' book. He comes up with common characteristics that show up in many of the stocks he uses as examples.
Now, what about his strategy of stock ownership? He says that the best way to preserve the wealth you accumulate from investing is to NOT SELL your stocks! Uncle Sam always wants a piece of the pie when you decide to cut it! Mr. Phelps says that no matter how long it takes, it's better to pass on stocks to your heirs than it is to sell them too soon!!
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Format: Hardcover Verified Purchase
This book takes the perspective of the extremely long term investor focused on finding compounding machines in the public markets. It is geared towards the investor who spends the bulk of the investment time on the diligence process rather than trading and who is focused on buy and hold to an extreme (10+ years). The investor who benefits from this book is a rarity in today's hyper short term focused "investor" aka speculator. This book is worth its weight in gold if one can effectively implement the concepts described here. Although it is conceptually simple, the ideas in this book are more powerful than the other investment concepts in the market today.
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Format: Paperback Verified Purchase
How can a book be largely true, but not be a good book? By offering people a way to make a lot of money that is hard to do, but portraying it as easy. It can be done, and a tiny number succeed at it, but most of the rest lose money or don't make much in the process. This is such a book.

Let me illustrate my point with an example. Toward the end of every real estate bull market, books come out on how easy it is to make money flipping homes. The books must sell to some degree or the publishers wouldn't publish them. Few actually succeed at it because:

* It's a lot of work
* It's competitive
* It only works well when you have a bunch of people who are uneducated about the value of their homes and are willing to sell them to you cheap, and/or offer you cheap financing while you reposition it.
* Transaction costs are significant, and improvements don't always pay back what you put in.

You could make a lot of money at it, but it is unlikely. Now with this book, "100 to 1 in the Stock Market," the value proposition is a little different:

* Find one company that will experience stunning compound growth over 20-30+ years.
* Invest heavily in it, and don't diversify into a lot of other stocks, because that will dilute your returns.
* Hold onto it, and don't sell any ever, ever, ever! (Forget Lord Rothschild, who said the secret to his wealth was that he always sold too soon.)
* Learn to mention the company name idly in passing, and happily live off of the dividends, should there be any. ;)

Here are the problems. First, identifying the stock will be tough. Less than 1% of all stocks do that. Are you feeling lucky? How lucky? That lucky? Wow.
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Comment 9 of 11 people found this helpful. Was this review helpful to you? Yes No Sending feedback...
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By ekamran on February 15, 2015
Format: Hardcover Verified Purchase
one must remember and understand the many pitfalls of hindsight bias in performing such a retrospective journey. but the many lessons of this important work make this an indispensable investment classic for the serious investor.
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Format: Hardcover
it's a fine old book, a classic, highly recommended by many. I am simply amazed that it hasn't been re-published by SOMEBODY. The prices for used copies are indefensible, I think.
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Format: Paperback
@ Amazon Customer "The most worthless book ever written on the stock market" -
Those are the trends. Back then airlines and Pharma stocks were the future high growth trends ( I mean come on Really - duh). Tires? Automobiles (do your homeowork on Henry Ford) were in a serious growth phase, last time I checked, automobiles need tires. Definitely, GE (duh - Electricity was still pretty new) back then was a huge trend if you do your history. It's the same now. Spot the trends and invest for the long term. Internet of Things, 3D Printing, Solar, Biotech, Cloud, Online Video/Movies, Social Media, Cyber Security are some examples of the huge trends of the future. Sometimes you have to open your eyes and listen instead of being quick to criticize the highly successful investors. They must be doing something right. The internet makes it easier than ever to spot the trends. The internet makes it easy to find good companies with a strong management team. The internet makes it easier than ever to find good companies with rising earnings/revenues quarter after quarter. I suggest you read the book again with your eyes open and your mouth closed. You might make some really good money!
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