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Showing 1-10 of 227 reviews(Verified Purchases). See all 259 reviews
on April 25, 2016
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. This book is for anyone who wants to make money on the stock market. There is a reason this is the fifth addition of this book, because it work, and because the author wants to keep his readers informed and up to date on the ever changing environment of the stock market.

This book begins by spending time making sure the reader understands all of the terms that the author will use throughout the rest of the book. After that he begins to enlighten the reader about general information on the stock market and then starts going in depth more about how the stock market works and how many people have made a fortune through the stock market and how they have also lost a fortune on the stock market. He finishes the book my giving the reader a step by step guide to evaluating any company on the stock market, a key skill to learn when investing with a company.

I couldn't put this book down. I was a beginner, not really knowing anything about the stock market when I first decided to read this book, but I quickly became obsessed. I was craving for more and more information on not only how the stock market works, but how to make money using the stock market. This is a very easy read, the words and terms can be challenging, but the book is setup in such a way that the author gradually introduces you to information that you will need to understand for the next chapter.

I highly recommend this book for anyone who has any interest in the stock market, or making money in the stock market. The authors ability to prepare the reader for each sequential chapter, by introducing a topic, and then diving deeper in the next chapter makes a daunting topic like the stock market very manageable. If you have any interest in the stock market and are a beginner, then this book is for you!
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on July 28, 2017
I bought the original and liked it very much, in fact it has retained a prime spot in my investment bookshelf for all these years. Unfortunately the fifth edition has missed multiple opportunities to be a true update. Sorry Mr. Kelly, it seems like you are just plain milking the original. The original was fresh and engaging with ideas that, while hardly fresh, were very much operand and helpful for the times. This new edition is rather stale and very derivative, just plain weak to be honest. Really, maybe Value Averaging is Mr Kelly's "new" thing but please, it is just yet another old idea and largely discredited by many prominent source and authorities, (where is the money required to buy kept when one must buy?) Could you come up with nothing authentic and original?. The other "updates" are slight, marginal, superficial and would be easily discovered by anyone who has any business investing their real money on line. Your first book help people with fear \on the web, that is gone novel am disappointed and oddly, sigh, a bit sad, please do better is there is a next time, otherwise no next time. OK Mr. Kelly? Save your reputation and my fond memories of you good book.
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on April 10, 2016
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? and how do stocks make money?

The best part of this book is in the second chapter where the author explains the styles of some of the best investors of all time in a very straight forward manner.

Overall that second chapter alone is worth the money in my opinion.
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on July 9, 2015
This is a great book. He starts by helping you understand all the stock rhetoric, which was really great for someone like me who knew almost nothing about the stock market. He goes through things in a nice linear fashion to help you understand proven and timeless strategies, namely how to recognize great companies and how to recognize when they are on sale, or at a bargain. He teaches the summary of strategy used by 6 great investors (Warren Buffett, Benjamin Graham, Philip Fisher, Peter Lynch, William O'Neil and Bill Miller). Though this is my first book on this subject, I feel like what is taught is a very sound, safe, and a wise strategy for anyone's venture into the stock market. We as humans are so whimsical and emotional and the system and discipline that this book encourages seems really solid. Oh, he takes James O'Shaunessy's research of 83 years of the stock market and teaches what trends and value measures O'Shaunessy found to predict good stocks, too! Check it out!
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on August 8, 2014
The reviewer who said that this book is meant for the "serious beginner" said it best. This is not a fluffy book -- it's more like a 3-month investment course packed into a well-written small volume and designed to make the reader fully conversant in the language of the market. Before I picked up this book, I thought that the Dow was an exchange, like the NASDAQ. No joke. After I read it, I knew more about long-term investing strategies, market terminology, and identifying companies with value than any of my attorney colleagues who have invested in the market for years. Most individual investors seem to invest blindly in large- and mid-cap companies like Target or Apple and in mutual funds without conducting their own research. This book is for you if you want to understand not only why traders care about P/E ratios, but also how you hedge against inflated earnings calculations by analyzing other fundamental criteria, like profit margins; not only how a dividend yield is calculated, but why it matters in determining whether a stock is undervalued; and not only how Dow companies are chosen but also how to reap the benefits of leverage when investing in Dow companies.

That said, this book is not designed for swing traders or day traders. While Jason Kelly claims to espouse both value and growth approaches to investing, I'd say that the balance is 80% in favor of value (identifying good companies with long-term profitability). He explains the fundamentals of technical analysis, but his primary purpose is not to teach how to speculate or predict trends using Bollinger bands or stochastic curves. His point seems to be that an investor should use graphs and technical criteria as just one of her tools to know when to buy, how to limit the downside potential of leveraged investments.

Their isn't much self-promotion. The writing is so clear that it takes the author's personal philosophies out of the equation and focuses instead on the more broadly applicable teaching points (bullet-pointed, even, after each section). If identifying value is not a strategy that appeals to you, you won't like this book. The book is basically a love letter to Warren Buffett and has very little of Kelly jumping off the pages, other than when we mentions his own free newsletter and website in a list of a dozen or so other newsletters and websites. (By the way this list included Kelly's reviews of many stock screener tools, good financial magazines, and the most useful stock newsletters. I used it to build my internet favorites folder, which I look at everyday.)

This book provides a comprehensive treatment of fundamental investing concepts and strategies. You can turn to other, more detailed texts if you want to learn how to trade like a trader, not like an investor.
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on June 26, 2013
This book is a great first read about the stock market. The author presents some basic technical info (P/E, Price/Book, MACD, RSI and others) in a simple and concise way while also providing insight into what the metric means about a company and how it may be manipulated (Earnings, for example).

He also provides background from several stock experts and mentions their books should you wish to continue your education.

One of the more important features of this book, IMO, is that Jason presents a strategy for how to build a portfolio and how to choose stocks. I think this is something that beginners are really looking for; guidance as to what to look for and how to get started. Knowing some introductory stock metrics does not give you an investing philosophy.

Also, Jason posts the quarterly performance of his portfolio (which is based on the methods in the book) on his website.

If you are interested in getting in the stock market, I suggest reading this book and then reading books by some of the experts in here (Phil Lynch, Warren Buffet, Ben Graham, etc) and then starting a virtual trading account, which lets you trade real stocks with fake money. OptionsHouse is just one of the online brokers that offers virtual trading. Most of the online brokers also have good educational information for all levels of investors. Read their material while your doing virtual trades and try to pick stocks and learn about options, and then try them out in your virtual account.

If you can make money for a few months in virtual trading, then you're probably ready for the real thing.

Your virtual account will still be there, so you can buy a few real stocks and play with options in your virtual account until you understand what you're doing.
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on April 6, 2013
This book was great. As a beginner investor, I learned a lot about the basics of stock market investing. The author breaks down the information of what you need to know to feel confident. He bases this information on backed up data by O'Shaughnessy's research, other prominent investors, and his experience. The author is very opinionated, which I like because I want to know what the author does personally when he invests. I read one book before I read this and it was highly conservative. It made me never want to put my money into the stock market. Anyways, the author showed several techniques using charts as to when to buy or sell your stocks. Although I got the implication from that section that I will always be buying or selling every month or so, this contradicts keeping stocks long term. Additionally, if I am told correctly, buying and selling short term (less than a year) puts you in a higher tax bracket than if you were to keep the stocks long term (more than a year). The tax % difference of the short and long term capital gain is a big deal to me, which I learned about in the book I read before this, because the government is taking a relatively big chunk out of your potential gain! The author doesn't go into tax discussion, but regardless, if selling short term, you still make money, just less. I hope for future editions the author can discuss his thought process and how to approach taxable gains and/or loss. I didn't really think this was a beginner's book, but I didn't think this was an expert book either. I didn't think it's a beginner's book because it's not a textbook-like book where it gives you a definition of what a certain word means. Instead, it gives you an analogy. I didn't think it was an expert book because, like the author said, he left out all the financial equations. I think reading this book in conjugation with is a good combination to answer your own questions. I also think reading another book for a second opinion is good for understanding the different ways different investors use the terms. This book definitely increased my investing vocabulary AND understanding and confidence significantly. I recommend getting this book.
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on November 29, 2015
This book is not going to turn you into a rich bastard. However, in the amount of pages this book contains, this book has everything you could need to get started as a beginning investor. The flow to Kelly's word's is easy to understand and not too technical for one just beginning his or her journey into the investing world. He does a great job defining and redefining words that made me say "wait..what's that word mean?". He seems to know the exact areas the reader needs a little help or nudge. I do not plan on using all of his strategies or tips, but I formed my own strategies taking bits and pieces from him and other great investors he mentions. This is what every investor should do, take bits and pieces from where they can and where they agree. Thanks Jason for the insight.
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on May 14, 2015
I'm loving this book. It's chocked full of useful information that honestly makes a lot of sense. It is a little dry for reading but you have to expect that when you're trying to read up on how to invest wisely. Thinking long term reading this dry book is worth having a colorful future. Make sure you purchase The Intelligent Investor by Benjamin Graham while reading Jason Kelly's book you'll see that they go together. This book is 274 pages long (not including the appendix) and the Benjamin Graham book is 536 pages (not including the appendix).I love how the persons who write the one star reviews are upset when this is clearly a beginners book designed to teach you basics and fundamentals. The way I see it they aren't open to learning because they "know everything" in the book. If they were doing so well they wouldn't be on Amazon buying the neatest little guide to stock market investing lol. Take them with a grain of salt, don't be afraid to learn from this great book. Good Luck :)
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on August 5, 2016
I'm very glad I got this book. I used to be a stock broker so for me this was mostly review, but Kelly's style is intelligent and engaging. I really like that this book reviews the strategies of some of the most renowned and successful investors in stock market history. There are some very valuable tips in here, especially for beginners.

The reason I gave it 4 instead of 5 stars are because of a few minor criticisms:
- It gets a little redundant toward the end
- Some of the references are out of date (I read the 2012 edition in summer 2016)
- In the Kindle edition (which I read) many of the exhibits were virtually unreadable, especially the sample ValueLine pages
- Kelly's leveraging strategies (Doubling the Dow, Maximum Midcap) are pretty complex, and require investors to monitor technical indicators (which are far from perfect, not to mention complex and time-consuming) in order to avoid catastrophic losses in down markets. Though interesting, they're probably not right for most average investors.

Overall, however this is an excellent book. Highly recommended!
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