- Hardcover: 288 pages
- Publisher: McGraw-Hill; Clean & Tight Contents edition (1972)
- Language: English
- ISBN-10: 0070497729
- ISBN-13: 978-0070497726
- Product Dimensions: 9.1 x 6.6 x 1.1 inches
- Shipping Weight: 1.6 pounds
- Average Customer Review: 4.0 out of 5 stars See all reviews (23 customer reviews)
- Amazon Best Sellers Rank: #845,979 in Books (See Top 100 in Books)
Enter your mobile number below and we'll send you a link to download the free Kindle App. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required.
Getting the download link through email is temporarily not available. Please check back later.
To get the free app, enter your mobile phone number.
100 to 1 in the stock market;: A distinguished security analyst tells how to make more of your investment opportunities, Hardcover – 1972
The Amazon Book Review
Author interviews, book reviews, editors picks, and more. Read it now
Customers Who Bought This Item Also Bought
Top Customer Reviews
In spite of the the rather glamorous title, the book is actually about Buy and Hold investing. Yes, it is true that you could have made a million dollars by buying any of about 350 stocks he mentions if you had invested $10,000 and just sat back and watched it grow over time! Doesn't sound that exciting, does it? However, I hope you didn't miss the point that he mentions AT LEAST 350 opportunities to have done this! Most of the companies' names will be quite familiar to most readers.
With the histories of many of these companies available, Mr. Phelps goes back in time to examine what it was about these companies that made their potential as great as it was. How can one begin to see what it takes for a company to do well? Well enough to drive its stock from $1.00 to $100.00 over a period of time? This is the heart of Mr. Phelps' book. He comes up with common characteristics that show up in many of the stocks he uses as examples.
Now, what about his strategy of stock ownership? He says that the best way to preserve the wealth you accumulate from investing is to NOT SELL your stocks! Uncle Sam always wants a piece of the pie when you decide to cut it! Mr. Phelps says that no matter how long it takes, it's better to pass on stocks to your heirs than it is to sell them too soon!!Read more ›
Let me illustrate my point with an example. Toward the end of every real estate bull market, books come out on how easy it is to make money flipping homes. The books must sell to some degree or the publishers wouldn't publish them. Few actually succeed at it because:
* It's a lot of work
* It's competitive
* It only works well when you have a bunch of people who are uneducated about the value of their homes and are willing to sell them to you cheap, and/or offer you cheap financing while you reposition it.
* Transaction costs are significant, and improvements don't always pay back what you put in.
You could make a lot of money at it, but it is unlikely. Now with this book, "100 to 1 in the Stock Market," the value proposition is a little different:
* Find one company that will experience stunning compound growth over 20-30+ years.
* Invest heavily in it, and don't diversify into a lot of other stocks, because that will dilute your returns.
* Hold onto it, and don't sell any ever, ever, ever! (Forget Lord Rothschild, who said the secret to his wealth was that he always sold too soon.)
* Learn to mention the company name idly in passing, and happily live off of the dividends, should there be any. ;)
Here are the problems. First, identifying the stock will be tough. Less than 1% of all stocks do that. Are you feeling lucky? How lucky? That lucky? Wow.Read more ›
Unfortunately, in my view, the investing approach Phelps espouses is completely untenable. It advocates techniques with profoundly low probability for success. The author is encouraging others to hunt for unicorns because, don't you see, unicorns exist: "Here's one (points to one stock). And here's another (points to another chart)." Many, many would-be investment paths are littered would would-be unicorns, and for every Buffet who has managed to wrangle a whole stable of them, there are literally millions of market participant --extremely smart, capable ones -- who hold the same goal but fail miserably. And that is the problem: flipping a coin a thousand times on one side is possible, but it's extremely improbable.
If I were rating this book on the validity of the ideas, it would be a one-star rating. However, I feel this is more like an interesting historical read -- one that's superbly written.
Most Recent Customer Reviews
Definitely another classic - just like Reminisinces of a Stock Operator. Must buy for any serious investor.Published 2 months ago by chris banick
collection of experiences in stock market, lots of advises mainly at the later chaptersPublished 6 months ago by omer albeladi
100 Baggers was based on this, but 100 Baggers is better. This book, however, is good too.Published 6 months ago by Damon Ronald Felton
What a great read. This one is an undiscovered gem. I'd put this one in my
personal "top 10" of investment books to
The theory and the explanation is very good. However, the book is based on the stock market from the 1930's to the 1970's. Read morePublished 11 months ago by Brian A. Zuckerman
This is a book that can open up your myopic eyes to the possibilities of a great future by buying and holding the right stocks. However the author never advises, buy and forget .. Read morePublished 15 months ago by Aravind MS
This book lacked any clear framework for identifying stocks that will turn out to be 100 baggers. It rather looks back at stocks that have increased 100 times, which is not that... Read morePublished 16 months ago by Marc