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Beating the Dow: A High-Return, Low-Risk Method for Investing in the Dow Jones Industrial Stocks With As Little As $5,000 Paperback – January 1, 1992


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Product Details

  • Paperback: 304 pages
  • Publisher: Perennial; 1st edition (January 1992)
  • Language: English
  • ISBN-10: 006098404X
  • ISBN-13: 978-0060984045
  • Product Dimensions: 8 x 5.2 x 0.9 inches
  • Shipping Weight: 8.5 ounces
  • Average Customer Review: 4.2 out of 5 stars  See all reviews (22 customer reviews)
  • Amazon Best Sellers Rank: #4,113,875 in Books (See Top 100 in Books)

Editorial Reviews

From Library Journal

Two contrasting investment methods are offered by these titles. O'Higgins, a 20-year veteran of Wall Street, espouses a system that limits the stock universe to the 30 stocks in the Dow Jones Industrial Average. He has followed this system as a successful money manager and states that respectable returns can be realized by selecting the highest yielding of the 30 Dow stocks. Unfortunately, most of the book is background and only a few chapters are devoted to the how-to part of the system. Purchase Geraldine Weiss and Janet Lowe's Dividends Don't Lie ( LJ 1/89) before this one. O'Neil is the founder and publisher of Investor's Daily. His investment approach emphasizes the quality of a company's earnings from quarter to quarter. Having sorted this out, the investor is then advised to find stocks that are performing well in strong industry groups. Frequent mention is made of the fact that only one investment newspaper provides the data needed to conveniently employ this system. Well written and to the point, this updated title should at least be in libraries that carry Investor's Daily .
- Joseph Barth, U.S. Military Acad. Lib., West Point, N.Y.
Copyright 1991 Reed Business Information, Inc. --This text refers to an out of print or unavailable edition of this title.

Review

"Lucid....O'Higgins' data are persuasive." -- Wall Street Journal

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Customer Reviews

4.2 out of 5 stars
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Most Helpful Customer Reviews

24 of 25 people found the following review helpful By ashag@flash.net on April 22, 1999
Format: Paperback
This book is now quite dated as far as the discussion of the individual Dow stocks, but the principals are still the same. I have never lost money doing this formula ever. In fact, I now average about 27% over the past seven years with only looking at my portfolio once a year. I now buy this book for a lot of my friends who ask me about investing when they have no experience. Adam Shaughnessy ashag@flash.net
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17 of 17 people found the following review helpful By A Customer on December 21, 2001
Format: Paperback
Michael O'Higgin's investing classic holds up as well in the New Millenium as it did when it first hit book stands 10 years ago.
He maintains that it is still possible to beat the DOW by buying the 10 highest yielding stocks and tweaking your holdings each year, with correspondingly greater rates of return with a two- or five-stock selection from the group. O'Higgin's admits in the new eidtion that the strategy has been muddied by a drop in the relative importance of dividends as a part of total yield of the DOW. Dividends and payouts have lost lost out to stock buybacks, in part because dividends are taxed at a higher rate than long-term capital gains from stock sales. Changes in the DOW have also reduced the overall dividend payout. Of the most recent additions, Microsoft pays no dividend and Intel and Home Depot have nominal payouts. O'Higgin's strategy may also be less effective because it's simplicity and past returns attracted the attention of Wall Street money managers and of many, many individual investors. There is at least one web site devoted to the Dogs of the Dow and a number of similar investment strategies were profiled for several years on the Motley Fool website.
Nor is the most valuable part of O'Higgin's book his thumbnail sketches of other value strategies for beating the market with a basket of DOW stocks. Several seem downright ridiculous. I remain skeptical that investing based on presidential election cycles or end-of-year asset sales by fund managers can yield meaningful, long-term results for individual investors.
The value of this book is O'Higgin's championing of value investing in general and his highlighting of the resilience of the DOW stocks in markets bull and bear.
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17 of 18 people found the following review helpful By Jeremy on October 24, 2000
Format: Paperback
Some people might laugh at this book specially the brokers who make living by sucking the commision out of an average investor. What had happened in the NASDAQ in 1999 before the correction was absolutely mind blowing and this book might have looked like a bad joke i.e. advocating to invest in companies like International Paper! but now that the dotcoms are down the drain, the valuations are somewhat back on earth, the margin-debt bitten people are done crying, maybe it is time that us i.e. average investors read this book.
This book as the name says is all about investing in Dow companies, the giants of the US and global economy. The companies which I truly believe that world could come to an end but GE would still be there. The book covers all the Dow components individually along with their historical financial performance, weaknesses, strenghts and their power to stay in business by being profitable over years and years. There are many different 'low risk' investment strategies covered in this book such as 'High Yielding 5'. These are the 5 Dow stock that you pick annually based on the criteria described, HOLD it for 1 year, redo the math (barely any)and pick your 5 stocks again. You also sell some at this point that didn;t meet your criteria and pick the new ones to fill their spot.
Sounds simple, yes! and that's the way it should be. Not only you can ride out the swings of the stock market in this way but also save a ton on commisions, taxes and most importantly be less stressed.
If you read the Motley Fool, you'll notice some of their strategies are derived from O'Higgin's methods.
A must read for all investors, specially younger people like myself who want to start building the nest yesterday!
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24 of 27 people found the following review helpful By John H. Healy on February 7, 2001
Format: Paperback
This is a classic book describing a simple method for achieving outstanding results in the stock market by investing in a selection of five stocks from the Dow Jones Industrial average. There is one little problem. The method hasn't worked very well recently. Taking some data from the table on page 204 of the O'higgins book we see the % gain or loss of the selected five stocks compared with the Dow Jones Industrial Average: (Year, Five stocks, Dow Jones Average);(1994 8.6 4.9),(1995 30.5 36.4), (1996 27.9 28.9), (1997 20.5 24.9), (1998 12.3 17.9). The method has faied to Beat the DOW every year since 1994. My own calculations shows that this under performance continues into 2001. The Motley Fool Group has done extensive research on this method and after their initial enthusiam they have recently terminated their recommendation. Serious students of the market should buy this book. Further study of this approach may lead to new methods for "Beating the Dow".
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8 of 8 people found the following review helpful By A Customer on January 13, 1998
Format: Paperback
I know it sounds corny, but I feel that I found the pot at the end of the rainbow. I knew if there was some way that I could get the best of the Dow 30 that I could make money on a regular basis. But which ones? One day while my wife and I were at the library she hands me Beating The Dow, I read it that evening and I got my answer to "which ones". Without hesitation I started a portfolio and have stuck with the stratagy for several years. The book is easy to read and very informative. It gives a rundown on all the Dow stocks with easy to read charts and statistics. I wish this book was around 20 years ago. P.S. I purchased the book!
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