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Far from Random: Using Investor Behavior and Trend Analysis to Forecast Market Movement 1st Edition

3.6 out of 5 stars 16 customer reviews
ISBN-13: 978-1576603239
ISBN-10: 1576603237
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Editorial Reviews

Review

Richard Lehman unequivocally proves that the market moves in well-defined, often predictable patterns. In Far From Random, he demonstrates a new, simple way to really beat the market. --Yale and Jeffrey A. Hirsch, authors of the Stock Trader's Alamanac

About the Author

Richard Lehman is the coauthor of New Insights on Covered Call Writing, with Lawrence McMillan (Bloomberg Press, 2003). Lehman is an instructor of both finance and derivatives at UC Berkeley Extension and a vice president in the wealth management group at Mechanics Bank in Richmond, California. His financial career spans more than thirty years in product management, marketing, and investment management, beginning with an eleven-year stint on Wall Street with E. F. Hutton, Thomson McKinnon, and the New York Stock Exchange. He lives in Richmond, CA.
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Product Details

  • Hardcover: 256 pages
  • Publisher: Bloomberg Press; 1 edition (November 18, 2009)
  • Language: English
  • ISBN-10: 1576603237
  • ISBN-13: 978-1576603239
  • Product Dimensions: 6.3 x 1 x 9.3 inches
  • Shipping Weight: 1.2 pounds (View shipping rates and policies)
  • Average Customer Review: 3.6 out of 5 stars  See all reviews (16 customer reviews)
  • Amazon Best Sellers Rank: #902,339 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

Format: Hardcover Verified Purchase
As an avid investment book reader and active trader, I am appreciating the nuances of random and non-random market phenomena that Richard Lehman points out. In a nutshell, investing/trading is not black or white. There are many facets to the market and this book does a fine job drilling down at a detailed and practical level while still keeping the reader engaged.
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Format: Hardcover
1) The theory (behavioral finance) this book tries to explain in over half way through the book is not new, and there are many other books on the same subject are much better written and more readable.

2) The "meat" of the book "channel charting/analysis/trading" is not new either. Many books have been written about it in clearer and more practical manner (such as "Channel Surfing" by Michael J. Parsons). But this author made it as if it's a virgin territory that he alone discovered and exploited. The book's explanation on channel trading is extremely mediocre and almost all are based in hindsight.

Personally speaking this book is worthless, because none of its contents or points of view is new or useful to me. Reading it is completely a waste of time.
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Format: Hardcover
In Far From Random, we learn we aren't so removed from our ancestors as we might think. This highly readable book demonstrates that markets are neither efficient nor random, and that being stone-cold frozen with fear (a saber-tooth tiger eyes us for lunch) is akin to buy-and-hold-no-matter-what (our securities portfolio drags us down to our doom). Rick Lehman boldly states that human emotion, and not green-eyeshade analysis, is what really drives prices --whether it's Dutch Tulips, Stocks on margin, or 30 X 1 leverage on illiquid credit default swaps and subprime mortgage derivatives. Far from being nonsense, this view makes perfect sense. Far From Random shows how our collective emotional behaviors, and the markets they move, become predictable. That's an edge any investor would want, and Far From Random will give you a tantalizing glimpse at that edge.

Jim Glidden, veteran Wall St. Bond Salesman
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Format: Hardcover Verified Purchase
I read a lot of innvestments books...10-12 a year and have for years..evey book, point of view and methodology teaches you something to add to your own processes.

I liked this book because I appreciate clarity. In order to be clear and to makes something seem easy, an author has to have a profound knowledge of the subject matter and the ability to communicate clearly. Richarde Lehman ahs both of the those pre-requisites.

Investor behavior and motivation are two keys to understanding market behavior. Understanding who those investors are, how they are rewarded (or compensated), what motivates them are keys to insight into the confoundingly contradictory movements that drive everyone crazy. . You will have a much keener understanding of the news that is being reported to you and have real insight into what is being told to you after having read the book.

With a perpective, the author then provides you with a charting method that will enhance your ability to enter and exit markets..this is a rather useful skill. Your probabilities of executing profitable trades, realizing a greater percentage of the profits in the moves you have chosen, and your peace of mind while doing do will be enhanced with the background and techniques shared in Far From Random.

This will also go on my periodic re-read list and not many books make it there.

I am a successful private investor.

Best wishes,

John
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Format: Hardcover Verified Purchase
This well-written book provides extremely valuable insights on the psychological nature of the stock market. Even experienced investors will find relevance and utility in the analytical approach to trend analysis suggested by the author. I say this as a full-time investor with many decades of experience.
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By FaBu Omari on September 20, 2010
Format: Hardcover Verified Purchase
I ordered this book for a class at UCB Ext.but recommend it to anyone who wants to better understand how human behavior impacts the stock market. Far From Random reviews the leading random market theories in easy to understand language. I am glad I enrolled in this class and read this book.
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Format: Hardcover Verified Purchase
The author claims that he has seldom made errors
in his prognosticatons - well perhaps so. But don't
expect his ostensibly well grounded hypotheses to
provide any help with buying individual stocks. His
discursive chapters tend to be mostly repetitive.
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Format: Hardcover Verified Purchase
As an avid investment student of age 61, I read "Far from Random" entirely. The book is close to worthless. It should be dismissed.

FFR purports to teach us how trend analysis can make investors money in the market. The treatment is superficial. If you have interest in technical trading, there are many more superior books starting with the classic from Pring.

My great dissapointment is because Bloomberg Press printed the book. I thought the publisher would impose a respectable standard of quality. They did not. Henceforth, investbook books from Bloomberg should be considered suspect. McMillan, of Options Writing fame, should be ashamed of his endorsement.

One can learn from investment books and apply ideas profitably. However, FFR is not the book in any manner. The book is not appropriate for any level of investor, nor any age.
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