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on July 29, 1998
With the constant fluctuations and market crrections, this book is ideal for the times and should, no must be read by anyone who wants to maximize profits and reduce risk in market trading.
If you've read my other reviews, you know that I am big on options. With market corrections, I like to maximize options with "Dead Cat Bounce" and "Ducks" Strategies.
I think that this book should be right at your side every time that Greenspan speaks!
For the faint at heart, the only safe way to get powerful returns is with mutual funds. There is virtually no risk at all! Unfortunately, you miss out on a world of opportunity called opportunity cost, Wade Cook shows you how to make the most of that opportunity with minimum risk.
My favorite Wade Cook book was Stock Market Miracles because it is so heavy in working options, Bear Market Baloney is now my favorite Wade Cook Book because it shows you exacly how to make money when the market goes down.
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on March 8, 1998
I invested in Merk & Lucent and got incredible returns (see my review inStock Market Miracles) and more recently I've gotten more incrediblereturns with Dell & Aol---the best I have gotten is from the incrediblesmall fee I paid for the books whichgave me the formulas that showed me how to make real profits and for that I say thank you Mr Cook, for three excellent books on how to play the stock market and win B-I-G, REALLY BIG!!!!!!!!!
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on October 2, 2003
While you guys are bashing Cook and giving Bear Market Baloney 1 stars, we were making up to 20% monthly returns.
How did your trades do? I rest my case!
Bear Market Baloney is a good book and well worth the tiny investment of money and time to read it.
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on September 30, 2003
I think that it's utterly amazing that Wade Cook wrote this book right before the biggest bear market in history. Wade seems to have a second insight; a genius at forseeing the future and making the proper recommendations.
Great book and a must read!
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on October 1, 2003
Investors buying on margin is at an all time high and Mr. Tice, a respected and very successful manager of short funds is calling for Dow 4000. Now is the best time to curl up to and absorb all of the contents of this book.
Did you make money over the last three years? I did and I owe it to this incredible book by Wade Cook.
Buy it. Read it. Use it. Possibly Wade's best book.
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on September 28, 2003
Wade wrote this book back in 1997 and I quickly read the small volume to prepare myself for the "irrational exuberance" that Mr. Greenspan was alludig to and also to learn how to play the market on dips.This book returned tens of thousands of dollars to me in money saved by settingmy exit strategies during the "Bull Market" from '97 to March 2000. But it saved me substantially more during that last bear market which was the worst bear market in over 60 years.Using Wade's advice, I even made money on stock splits like Christopher & Banks, Loews and ADSK during a bear market!Switching to low beta stocks as Wade advises in this book also saved me tens of thousands.PRIOR TO WADE I used to follow advice from my broker and that advice was making me broker. Mr. Cook teaches you how to select a broker that will work for you (many won't and prefer to sell the stock of the day rather than what is best for you) and I suspect that allof the negative reviews are from stock brokers who don't want you to you what their game really is.I highly recommend BEAR MARKET BALONEY currently known as Wall Street Money Machine #3. Even during the current bull market, there will be dips (as we saw last week) and Bear Market Baloney can help you make money during those dips.
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on July 10, 1998
I bought BEAR MARKET BALONEY about a month ago when we had a market correction. The information and strategies in this book gave me the courage to get back into the market after having some heavy losses, some only paper losses, some real losses on bad option choices. I made a $400 investment on June 1st that soared to over $9,000 by July 6th.! This book reminds me of the all time great classic "The Richest Man in Bablyon" a book that appears to be small in size, but huge in content.
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on March 13, 2004
I ahppenedby this board a few months ago and was taken back by the near hysteria and bullishness for this old book by Wade Cook.
Like others, I watch CNBC and read IBD. Last fall, there was a lot of pessimism about the markets. Mr. Tice, a notorious short was calling for Dow 4000 and NAZ to drop down to under 1000. Got to love those shorts. Bless their hearts. Don't know a stock from a rock and do everything to create fear and it always backfires.
As I was saying, I read all of the positive reviews here and went out and bought a copy of Bear Market Baloney. I also bought Wall Street Money Machine Vol. 1 and Red Light Green Light. What a run it has been! Wade's advice really works. Far better than listening to those stupid brokers.
Thank you Wade and thank you guys for sharing your thoughts here which persauded me to listen to winners like Wade instead of those stupid shorts like Mr. Tice.
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on September 29, 2003
Talk to most people about how to make money in a bear market and they will think of only one way--sell short. Another way to most people is to buy puts and that is where their methodology typically stops.
Mr. Cook offers 11 different strategies to make money in a bear market hence the name of this book "Bear Market Baloney."
Some of the strategies that Cook teaches in this volume include:
* Bottom Fishing
* DUCks
* Hedging
* Reverse range riders
* Peaks and slams
* Naked puts
* Covered calls - Bear Market Way
* Rolling Stocks - roll faster in a bear market
* Rolling Options - Bear Market Way
* Stock Splits
* Tandem plays Bear Market Plays
* Uncovered calls Bear Market Plays
Of all the strategies listed, the uncovered calls bear market plays is the most exciting and I feel, the most profitable. Look at this: During a bear market, the stock is going down, going naked and selling calls is a pure cash generator and you don't even have to deliver the stock!
And you can repeat this over and over. Some of us bought calls (naked) when stocks on those high p/e tech and growth stocks when these equities were overpriced and just let the call expire worthless as the stock dropped.
Everytime Greenspan raised interest rates stocks were ready to tank again, so we bought more and let them expire worthless.
Cook also recommends diversification in many stocks, options and plays. That's good advice.
Throughtout Bear Market Baloney, Cook beats to death the importance of fundamentals, watch earnings, check the companies debt, p/e ratios and so on. In otherwords, pick good quality stocks in companies that have good earnings and solid cash reserves. In this regard, Cook is referring to selling naked puts and then buying good companies at a discount to create a powerful portfolio.
Contrary to Cook's perpetual naysayers, Mr. Cook always recommends staying focused and being careful. For example in the chapter on Bear Tracks Cook states; " Stay focused on how to generate income when things get bad. Back up a little and take a hard look, make small forays (with stocks, but especially with options) into the market plan. Monitor your results, learn the new rides and keep going."
"Be quicker at cutting losses than in a bull market. Know when to get out of investments - especially know the "why" of getting in. Simply put, how can you know when to sell unless you know why you bought?"
Mr. Cook also discusses stocks that perform like bulls in a bear market in Bear-ing teeth, chapter 9.
Overall, Bear Market Baloney is a good book. Was good advice during that last bear market and still good advice to play dips and times like now when certain stocks are reaching a bubble.
In closing, Wade Cook says that there are three bull markets for every one bear market. We just had a horrible bear market and have started the first bull market. My recommending this book does not mean that I or other investors (other than the shorts) feel that there is another bear market on the horizon, I just wanted to set the record straight and show my appreciation to Mr. Cook for writing a book that helped me tremendously during the last three years. Nobodyelse was teaching this information.
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on June 14, 2004
Yeah I know tht title of this book says "BEAR MARKET BALONEY" but for those of us who actually bought and read the book, we know that Wade did warn that there could be a bear market and offered strategies to offset that.
For me, I followed Wade's advice. He said that when interest rates start rising that is a negative for the market. He warned about high p/e ratios even with solid earnings. He warned about market bubbles and he cited historic evidence to back up his statements.
While others were staying in stocks or buying on dips (long and strong on stocks) I sold off the high p/e stocks especially high p/e stocks like YHOO, AMZN, CMGI, DELL, CPQ, CSCO and so on. I followed Wade's advice on buying low beta stocks stocks like NBTY. WEN and RI and even sold my aggressive mutual funds and replaced them with value funds. I also bought some gold stocks ala Wade's advice and some zero coupon bond funds.
The result? While others lost money or fled to money market funds, I doubled my money on solid investments. I still use the advice in bear market baloney when the market sells off like it started to last MAY.
Wade's advice is right on. All real investors know this. Good book. Highly recommended.
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