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The Indomitable Investor: Why a Few Succeed in the Stock Market When Everyone Else Fails [Hardcover]

Steven M. Sears
4.4 out of 5 stars  See all reviews (26 customer reviews)

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Book Description

April 3, 2012
A new approach to investing based on how Wall Street insiders approach the market

The Indomitable Investor deconstructs the stock market as the public has come to know it and reconstitutes it from the inside out from the perspective of the fortunate few who dominate Wall Street. By revealing how top investors and traders think and act Steven Sears shows the stock market to be an undulating ocean of money, with seasoned investors reading the waves others cannot.

Teaching readers to think about the market in radically different ways, The Indomitable Investor shows how to improve returns—and, just as importantly, avoid losses—with disciplines deployed by people who almost always do exactly the opposite of what Wall Street says to do.

Laying bare great fallacies, the book explains that non-professional investors wrongly think the stock market is a place to make money, which is what Wall Street wants them to try to do. The Indomitable Investor says otherwise and shows how Wall Street's best investors have a completely different focus.

  • Explains the critical ideas and insights of top traders and investors in language anyone can understand and implement
  • Packed with material rarely shared off Wall Street that is used every day by professional investors
  • Introduces the 17 most important words on Wall Street
  • Teaches critical skills, including: How to increase returns by focusing on risk, not potential profits; how to use the stock market's historical patterns to optimize investment decisions; understanding key relationships between stocks and the economy that predict what will happen to stocks and the broader market; how to increase mutual fund returns with an easy adjustment that redirects the bulk of profits to you—not mutual fund companies, and how to analyze information like seasoned investors to move beyond "statement of the obvious" news reports that turn ordinary investors into Dumb Money

Accessible to readers of all backgrounds, including those with a limited understanding of investing, The Indomitable Investor will change how investors view the stock market, Wall Street, and themselves.


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Editorial Reviews

Review

"a first-class book for the retail investor ... Sears is trying to make the retail investor savvier, a worthy opponent of the so-called smart money. All in all, a well written, thoughtful, useful book." - Brenda Jubin, Seeking Alpha.


"It's only April but I would be v surprised if I read a better book this year than Indomitable Investor." - Gunnar Peterson, posted on Twitter. 
Must Read Book on Wall Street - NPR


"Great investors focus first on risk, then return. Steven M. Sears' The Indomitable Investor serves as an antidote to all those get-rich-quick investment books by doing exactly the same thing." - Tadas Viskanta, author of Abnormal Returns: Winning Strategies from the Frontlines of the Investment Blogosphere.

"Investors don't need another get-rich-quick scheme.Instead, look at history's best investors to understand the basics of investing, the players in the market and their different priorities, what works and what doesn't.... Steven Sears, editor and columnist at Barron's, has written just such a book," - Zack Miller, Tradestreaming.com.


"Pick up a copy of The Indomitable Investor by Steven Sears ... this book actually delivers on the promise of its subtitle by explaining in clear and concise prose, "Why a Few Succeed in the Stock Market When Everyone Else Fails," Invest-notes.com 
One of The Top Investment Books of The Year - The Stock Trader's Almanac, 2013.

From the Inside Flap

The financial crisis of 2007 was a serious wake up call.

Most people realize they may never lead lives of financial ease, but now many live in fear of never even retiring. We must rethink how we approach investing—and even acknowledge we never understood it in the first place—before it is too late.

The stock market is here to stay and remains one of the few ways to truly grow your money in the long run. The Indomitable Investor: Why a Few Succeed in the Stock Market When Everyone Else Fails not only simplifies Wall Street's most complicated facts and ideas, but reveals the disciplines used by the few investors who consistently overpower the stock market.

Most people never own stocks long enough to qualify as long-term investors. They "greed in" to Wall Street's latest craze and "panic out" just as prices bottom. Deconstructing popular, often inaccurate portrayals of investing, The Indomitable Investor offers a fascinating look inside Wall Street's intellectual and operational machinery.

The Indomitable Investor applies an analytical, sometimes contrarian, approach to gathering and synthesizing fragmented facts long known by the best investors but unknown to almost everyone else.

Comprehensive and written in a lively, accessible style, The Indomitable Investor covers everything from buying and selling stocks intelligently to dealing with the market mob, behavioral finance, managing brokers, analyzing financial news, increasing mutual fund returns, and understanding how seasonality and economic cycles pace the market.

The Indomitable Investor is a compendium of insider knowledge. Ignore The Indomitable Investor at your own risk.


Product Details

  • Hardcover: 238 pages
  • Publisher: Wiley; 1 edition (April 3, 2012)
  • Language: English
  • ISBN-10: 111811034X
  • ISBN-13: 978-1118110348
  • Product Dimensions: 6.2 x 0.9 x 9.2 inches
  • Shipping Weight: 1 pounds (View shipping rates and policies)
  • Average Customer Review: 4.4 out of 5 stars  See all reviews (26 customer reviews)
  • Amazon Best Sellers Rank: #72,993 in Books (See Top 100 in Books)

More About the Author

Steven M. Sears is a Senior Editor and Columnist with Barron's and Barrons.com. He previously reported for Dow Jones Newswires and The Wall Street Journal. He has reported upon most major modern financial events, including the Asian Contagion, the bursting of the Internet Bubble, the Credit Crisis, and Europe's sovereign debt crisis. He also was part of exchange executive teams that modernized the U.S. options market, and introduced electronic trading. He is a member of the Economic Club of New York.

Customer Reviews

The Best book on finance and investing that I have ever read. Barbara Gould  |  9 reviewers made a similar statement
An excellent job Mr. Sears. Andrew Wilkinson Chief Economic Strategist Miller Tabak & Co. LLC  |  6 reviewers made a similar statement
Most Helpful Customer Reviews
34 of 40 people found the following review helpful
5.0 out of 5 stars Not Another Get-Rich-Quicker March 26, 2012
Format:Hardcover
Looking for another "list" book guaranteeing you great wealth if you follow these five or 10 tips? This ain't it. As an early reader and fan of Steve Sears' work for years I can testify that this is a different (welcome) beast altogether: The market as a living, breathing animal that can create security for you over time provided you know how to listen to it. No schemes. No "must buy" stocks. Rather: Solid portfolio building for the long run with the risk-management overlay that really matters. (Hint: First do no harm.) Plus a history-of-the-market narrative remarkably fast and free of clutter. Give it an A.
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19 of 22 people found the following review helpful
Format:Hardcover|Amazon Verified Purchase
Eighteen years ago I read a book ("Psychology Explained") that proved invaluable to me, not because it told me how to invest, but because it taught me how to think about investing.

Fast forward to 2012 and the "Indomitable Investor" has eclipsed the previously mentioned title.

Managing investments is about managing risk. Author Steve Sears provides an insight into how some of the brightest investment managers and advisors of our time go about the process of risk management.

In addition Mr. Sears takes a thoughtful look at volatility indexes and what to make of them, the pitfalls of Modern Portfolio Theory, behavioral psychology as applied to investing and a fantastic discussion on the "challenges" of regulation and why such efforts nearly always fall short of intentions.

An added bonus was a brief update on the whereabouts of Victor Neiderhoffer.

My biggest critique of the book would be that the author covers so much ground that there are a number of topics that only get a brief mention where they would provide ample ground for further reflection.

In the spirit of "Give a man a fish, feed him for a day, teach him how to fish feed him for a lifetime;" The Indomitable Investor is an invaluable piece of teaching that will provide knowledge and wisdom for a life time of investing.
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12 of 14 people found the following review helpful
5.0 out of 5 stars The Excellent Indomitable Investor May 5, 2012
Format:Hardcover|Amazon Verified Purchase
If you were ever dealt a bad hand by Mr. Market The Indomitable Investor is invaluable reading. For anyone who ever made money in the market this book is addictive reading and will help you understand exactly why you were so fortunate.

Steve Sears undoubtedly has one of the most fluent and comprehensible styles of any financial writer and he makes his book an insightful and elegant read. I was captivated throughout the first 100-pages and couldn't put the book down again until I was finished.

The study provides the investor with dozens of well-sourced references flowing from a fountain of knowledgeable sources throughout. The book breezes through the marketplace with a well-delivered chapter devoted to sector investing tied to a series of economic indicators in a highly successful way that I have not seen attempted before.

Perhaps the greatest feature of the book is its explanation of investors' behavior and the psychology of investing as it applies to the market. So few people recognize how little they know about the subject and this book rips the cover write off that notion and offers a reasoned approach with an actionable philosophy to help you avoid the pitfalls of simply throwing darts at the wall.

Mr. Sears weaves a consistent thread explaining the behavioral nature of investing throughout the book, which is a critical element for anyone wanting to know how to best succeed in the years ahead. His revelation of the nature of Wall Street and its practices is illuminating reading for anyone who would like to believe they are smarter than an investment banker. And while you might be smarter, only when you understand how the odds are stacked against you will you figure out which crowd you should be running with. An excellent job Mr. Sears. Simply excellent!
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Most Recent Customer Reviews
2.0 out of 5 stars Old news...
First of all, I have to admit that I am only half-way through this book. (It hasn't said much of anything that is new, so it has not captured my attention) But based on what I... Read more
Published 6 days ago by jiprugh@flash.net
4.0 out of 5 stars Informative but inconsistent
I learned much but the advice was not consistent. This is a contrarian's book which criticize investors who panic sell and who don't sell soon enough. Read more
Published 1 month ago by R. Crockett
2.0 out of 5 stars Often contradictory
The book seems to be lacking a clear theme or message. In one chapter it spends a few pages talking about one trader's 'sell discipline' that is based entirely on price movements... Read more
Published 2 months ago by Paul Gunn
5.0 out of 5 stars A great book
When you start this book, I guarantee that you will think it is being written about you specifically.
It has great practical advice and is worth reading more than once.
Published 4 months ago by Mitchell G. Fowler
5.0 out of 5 stars One of my all time favorite investment books
I am a new Steven Sears fan. I even subscribe to Barons where he writes a weekly piece.
No serious investor should fail to read this book and read it 3 or 4 times. Read more
Published 5 months ago by dr. k
3.0 out of 5 stars Readable, but not up to the quality deserving that many 5 stars,...
Perhaps my review title had told it all. Over 80% of the five star reviewers had written only one or two reviews. I dont like that. Read more
Published 5 months ago by ServantofGod
5.0 out of 5 stars Best book of the year!
The Best book on finance and investing that I have ever read. Mr. Sears makes the complicated understandable. The writing is clever, creative and humorous. Read more
Published 5 months ago by Barbara Gould
5.0 out of 5 stars A valuable commodity
I can't say I'm savvy with numbers or have a solid sense of the business world, but as a person who hopes to retire one day with the knowledge I can do so without peril, it's... Read more
Published 6 months ago by Emorales
4.0 out of 5 stars Well worth your time
I was not 100% certain what I would get with this book, but I decided to give it a shot based on the description. I was pleasantly surprised by the content of this book. Read more
Published 6 months ago by Dividend Investor
2.0 out of 5 stars Nothing new
Buying this book is a waste of time and money. I wonder who gave five star reviews. Maybe people who nerver read financial press or any investment book before. Read more
Published 7 months ago by sanjeeva Abeysinghe
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Topic From this Discussion
Not Another "Top 10 Get Rich Quick Tips" Book
Steve Sears shows investors how to succeed when the system -- and one's natural inclinations -- lead in the opposite direction. Read and learn. Steve is one of the few must-read financial journalists. If you read his Barron's column, you know that he takes the unconventional approach. He talks to... Read more
Mar 1, 2012 by Brendan G. Conway |  See all 3 posts
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