Getting the download link through email is temporarily not available. Please check back later.
To get the free app, enter your mobile phone number.
What Works on Wall Street, Fourth Edition: The Classic Guide to the Best-Performing Investment Strategies of All Time Hardcover – November 14, 2011
|New from||Used from|
Frequently Bought Together
Customers Who Bought This Item Also Bought
About the Author
James P. O’Shaughnessy is chairman and CEO of O’Shaughnessy Asset Management. He previously served as portfolio manager, director of systematic equity, and senior managing director for Bear Stearns. O’Shaughnessy is the author of the bestsellers What Works on Wall Street, How to Retire Rich, Invest Like the Best, and Predicting the Markets of Tomorrow: A Contrarian Investment Strategy for the Next Twenty Years.
If you buy a new print edition of this book (or purchased one in the past), you can buy the Kindle edition for only $2.99 (Save 89%). Print edition purchase must be sold by Amazon. Learn more.
For thousands of qualifying books, your past, present, and future print-edition purchases now lets you buy the Kindle edition for $2.99 or less. (Textbooks available for $9.99 or less.)
Top Customer Reviews
The book is full of statistics providing the details, but there is also useful information in the text. I would have preferred to move 2/3 of the statistics to an appendix because they do not add value. For some reason the author really likes to pile table after table to increase the page count. My guess is that the author thinks this gives the book more credibility. That is silly.
The author is not trained in statistics. However, the book is now in its fourth edition and he has responded to critique of previous editions. The author is familiar with standard deviation, Sharpe ratios, etc., so he is certainly not clueless. There are many ways this could have been a stronger book had the author known more about statistics. For instance when he is constructing composite indicators. There is for instance some data mining going on when he constructs the indicators.
A similar but much more academic approach is found in Expected Returns: An Investor's Guide to Harvesting Market Rewards (Wiley Finance). That is a better book and is much more detailed and sophisticated. To enjoy that book you should be able to read academic finance literature.Read more ›
Check out The Intelligent Investor by Benjamin Graham or Triumph of the Optimists instead. Admittedly, What Works on Wall Street has managed to stay in print.
I have returned my copy of the 4th edition. The previous editions had updated data for each strategy discussed, plus new strategies that were examined. Unfortunately, this edition does not. While I am interested in hearing his new findings, I expected, wanted and needed data updates for all the strategies previously reviewed, particularly those I use or am considering using. I was totally surprised and disappointed by this change.
I highly recommend his 3rd edition of this book.
This new edition retains much of the content and structure from two editions ago. Most of the chapter titles are the same, and although the order of their presentation is altered somewhat, their readability as a linear progression or as "one offs" on specific topics is still one of their best features. Gone are the meaningless jaggedy line graphs that illustrate certain points, often replaced by bar charts or tables of figures instead. Physically, WWOWS's fourth edition is about double the size of the revised edition, and for the most part, all pertinent figures illustrating a point are updated with more recent data samplings and examples. I did notice, however, that starting and ending points of samples of data tended to be somewhat arbitrary, possibly to demonstrate a topic or theory more clearly and dramatically. But still, the data that is supplied is ample and does clearly illustrate the topic being discussed. This makes the reading go smooth and the information easy to absorb. In other words, this work just keeps getting better and better.
In the volatile, unpredictable world of equities investing, it goes without saying that what works today might not work tomorrow, what worked yesterday might not work today, and what worked when the second edition of this book came out might be running out of steam at this point. The reader will therefore still have to think for himself or herself. But, for a general introduction to stock investing, stock analysis, investment and speculation strategies, with plenty of quant perspective, WWOWS remains the quintessential handbook. I can't think of a reason, therefore, not to give it a full five stars.
Most Recent Customer Reviews
For a brief time, I tried several online services that offer backtesting to discover winning quantitative strategies in the stock market. Read morePublished 1 month ago by J. Andreas Howell
interesting read, a bit academic (that's why it's so thick) but I find the insights to be quite nice.Published 1 month ago by julian
a must read! (beware though a lot of graphs that you will just skip over, it makes the book much larger than it should be)Published 4 months ago by Joseph
This is a great book! James goes over ton of scenarios and breaks them each down in length of time in the investment. It typically shows 5, 7, and 10 year periods year of year. Read morePublished 5 months ago by David Whitlatch
This is what you really get with this book: It is essentially an investment factor encyclopedia. Which metrics test well over time and how do their results compare historically?. Read morePublished 7 months ago by Online