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24 of 24 people found the following review helpful:
5.0 out of 5 stars
Enjoyable and Important to Read, January 9, 2002
This review is from: The Secret Code of the Superior Investor: How to Be a Long-Term Winner in a Short-Term World (Hardcover)
In a world that starts each business day with someone broadcasting from the floor of the New York Stock Exchange as if investing were some sort of a horse race, this book is much more than enjoyable. It's important to read. Glassman takes the fear, uncertainty and doubt out of investing heightened if not created by the broadcast media's constant focus on what the fed, economy or Osama Bin Lauden will or won't do next and what it all means for the price of stocks tomorrow. He deals with the implied "action imperative" using what amounts to a logical, easy to read and understand three step process. First, he provides basic, factual and well-researched information that every investor should know. Second, he details a sound and time-tested investment strategy that anyone can understand. Third, he provides the information sources, tips and techniques to execute against that strategy. The sort of how to information that moves concept to action. Along the way he explains what is important to consider and to ignore. He also offers some really good advice on things to avoid. The Secret Code of the Superior Investor has the rare qualities of being informative, enjoyable and actionable. The content is as superb as the writing. I am 53 years old, financially independent and retired. I have been an investor for nearly 30 years and read many books on investing. Take it from me. Glassman nailed it! Turn off the TV and read this book.
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17 of 18 people found the following review helpful:
5.0 out of 5 stars
A valuable overview of the investment landscape..., January 11, 2002
This review is from: The Secret Code of the Superior Investor: How to Be a Long-Term Winner in a Short-Term World (Hardcover)
Contrary to what some may think, there is a secret to good investing, and Glassman does a good job of explaining it. It's an open secret, to be sure, but one most so-called investors ignore: generating cash (for example, through day trading and other high-turnover practices) does not lead to the accumulation of wealth. Only through a disciplined approach to investing, involving (1) the accumulation of quality stocks, mutual funds, and/or other preferred financial assets, and (2) patience that allows time to let these investments work for you, will it be possible to achieve your financial goals. Following the heady, market-drive craze of the late 1990s, it's a secret that even the most seasoned investor would do well to reconsider. No question, it's the new or inexperienced investor who has the most to gain from a read of this book. For one thing, Glassman's review of the many investment vehicles available today provides, in one readily accessible volume, the information needed to make intelligent decisions regarding asset allocation. And the explanations that attend the presentation are written in language that even the novice will understand. If you've already made your millions and view playing the market as a pastime, this book is not for you. But if you believe that there must be a better way to select from among the many investment theories touted and to identify, and invest in, preferred investment vehicles appropriate to your age and temperament, purchase of The Secret Code of the Superior Investor may well be among the best investments you could make.
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34 of 40 people found the following review helpful:
3.0 out of 5 stars
Further Popularization of Popular Stock Investing Books, January 2, 2002
This review is from: The Secret Code of the Superior Investor: How to Be a Long-Term Winner in a Short-Term World (Hardcover)
This book is for people who are totally unfamiliar with the "buy and hold" school of stock investing based on selecting superior companies with outstanding management. The material in it is almost totally derivative from the research and experiences of others available in more detailed popular books. The key points are that (1) you should know yourself, so that you invest in ways that fit your emotional makeup when stocks are doing poorly; (2) time is money, and you should start buying stocks at the youngest possible age; (3) pick stocks by the caliber of the company and its management; (4) own stocks in diversified portfolios to avoid excessive fluctuation risk; (5) risk of stock price loss is reduced by holding stocks longer; (6) avoid trading stocks -- buy and hold instead; (7) ignore what the media says about stocks (unless the information brings into doubt the reason why you own certain stocks); (8) ignore the Federal Reserve; (9) for short-term investments buy high quality bonds; and (10) pay attention to reducing expenses, taxes, and outperforming inflation. In support of these points, well-known studies and books are cited such as those by Jeremy Siegel (Stocks for the Long Run), about Warren Buffett (and other famous investors like Phil Fisher, Philip Carret, and Sir John Templeton), and by Ben Graham. Mr. Glassman is one of the authors of the theory that stocks are way undervalued and the Dow should soon trade at 36,000. Although most professionals and academicians have questioned his theory, Mr. Glassman stands behind it in this book. As someone who reads lots of books about stock investing, the only new thing I learned in this book was the Leslie Douglas Theory involving purchasing equal amounts of the 5 largest NASDAQ stocks each year (which produced a ten year gain of 39.1% versus 15.8% for the Dow). So for me, this book was a big waste of money. I also thought that a lot of the material was wrong. Basically, you are encouraged to buy managed stock mutual funds. Over 10 years, hardly any of these will outperform the market indices. As mutual funds are required to say, past performance is also no indication of what future performance will be. You would probably be better off owning indexed mutual funds. The same subjects are covered much better in Common Sense on Mutual Funds by John Bogle, and you can learn more about the virtues of indexed mutual funds in that book. So, I suggest that you skip this book. You would learn more by reading the popular books which it is based upon than by reading this book. May all of your investments help you reach your financial goals . . . and always sleep well at night!
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