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The Neatest Little Guide to Stock Market Investing: Fifth Edition Paperback – December 24, 2012
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Top Customer Reviews
Kelly begins at square 1 by describing what the stock market even is, and how it functions. He discusses very basic things, such as the difference between a full-service and a self-service broker, and the way that stocks get listed on the exchanges in the first place. His tone and style are welcomed, as he neither presumes that you know anything prior to reading, nor is he paternalistic or presuming that you are incompetent.
Unique to many books, Kelly sums up the philosophy of some of the tried and true "master" investors. His list includes Ben Graham, Phil Fisher, Warren Buffett, Peter Lynch, Will O'Neill, and Bill Miller. By examining multiple investors in the way he does, Kelly truly shows that there is more than one way to successfully invest in the stock market. Graham is the model value investor, focusing on stocks that are undervalued. Phil Fisher is a growth investor, focusing on superior companies that he expects will keep growing.Read more ›
The book begins where it should, at the beginning. It assumes the audience knows nothing about stocks and how the stock market works. It proceeds to discuss the various metrics investors use to analyze companies, how those values are derived, and why they are relevant. Next Jason discussed the great investors in recent history, how they came to be so successful and what you and I can learn from their strategies. Finally, after giving the reader a base of knowledge and background Jason lays out his strategy for success and why it works. Along the way, the book is sprinkled with great resources and references that have been invaluable to me.
Since reading the 2012 Edition of this book I have been a religious reader of Jason's newsletter found at JasonKelly.com and I look forward to it each Sunday morning with my coffee. I cannot wait to get my 2013 Edition in the mail and look forward to the updated material. Finally, I can personally attest to the Jason's strategies as I have had excellent success in the markets over the last year and greatly outperformed the S&P 500.
My two cents.
- Kelly provides a great system for categorizing and evaluating individual stocks.
- He provides the novice with plain explanations for terms and measurements that they may not have been familiar with.
- He provides references for all recommended research and describes how to find them.
- His writing style is easy to follow and occasionally humorous.
I didn't like:
- Kelly does not address taxes on gains. He provides several strategies that require selling shares on frequent occasions and compares return rates without considering the effect of taxes on those gains. Other investment advice I have read recommends not actively trading stock in this fashion because it is highly unlikely that you will keep up with the market due to your losses from taxes, timing errors, and commissions. I would like to see Kelly address this oversight in the next edition.
In making my decision in taking a more active role in my investing, I wanted to knock the dust of my financial and market knowledge (I don't use it much in my day-to-day job) and get a better understanding of what financial indicators made for good investment targets. This book did the job perfectly.
For a first-time investor, this book provides an easy to understand basis of financial analysis. It also discusses several investment strategies that are not the "get rich quick" strategies I have seen in other publications. Most of the strategies revolve around analyzing a few indicators to create a target set of companies, doing extensive research on those companies, then investing and holding on to the stock.
DISCLAIMER: If you have a financial background and are looking for a book on advanced trading schemes and options, this isn't the book for you. Don't go bashing this book for what it is - a basic understanding of how to invest in the stock market.
Most Recent Customer Reviews
This book is for anyone who wants to know how the stock market works. This book is for anyone who wants to know what influences the stock market. Read morePublished 1 month ago by Brandon Roarty
Very educational. I like how this book teaches how to screen stocks.Published 1 month ago by Jitman
This book is very good at what it aims to do. And that is demystify investing. It explains everything from the very beginning answering questions like what is a stock market? Read morePublished 1 month ago by V. Bernal
This is my investment bible. Hard to grasp all the information in one read, need to read it many times. Read morePublished 2 months ago by Robert Quittner
I thought this was an excellent book. I have been investing for about 5 years now and I was still able to learn some stuff in this book. Read morePublished 2 months ago by Chris