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Why Are We So Clueless about the Stock Market?: Learn how to invest your money, how to pick stocks, and how to make money in the stock market 1st Edition

4.6 out of 5 stars 41 customer reviews
ISBN-13: 978-0615287485
ISBN-10: 0615287484
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Editorial Reviews

From the Back Cover

Most people work hard for their money, and it is sad to see them lose it so quickly in the stock market. They assume that because they are successful in their careers or businesses, they will be successful in investing.

To make money as a doctor, lawyer or business owner requires a certain skill set that makes one's products or services desirable in the marketplace. Investing requires a completely different skill set.

A successful investor does not need an advanced degree in economics. He or she does not even need to be that smart. A successful investor only needs two things: 1) capital to invest and 2) the ability to recognize good companies when they are selling for less than what they are worth.

Few people find success in stock market investing because they do not know how to recognize good companies that are trading at reasonable prices. Basic knowledge of how to evaluate investments will help them make better choices when deciding where to put their money.

This book teaches investors how to recognize good companies, evaluate their current worth, decrease the chances of making investment mistakes, take advantage of Wall Street's short-sightedness, build wealth through stock market investing ... and much more.

About the Author

Mariusz Skonieczny is the founder and president of Classic Value Investors, LLC, an investment management firm that builds and manages customized investment portfolios for its clients. He is the author of "Why Are We So Clueless about the Stock Market?"
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Product Details

  • Paperback: 164 pages
  • Publisher: Investment Publishing; 1 edition (September 1, 2009)
  • Language: English
  • ISBN-10: 0615287484
  • ISBN-13: 978-0615287485
  • Product Dimensions: 6 x 0.4 x 9 inches
  • Shipping Weight: 2.4 ounces (View shipping rates and policies)
  • Average Customer Review: 4.6 out of 5 stars  See all reviews (41 customer reviews)
  • Amazon Best Sellers Rank: #413,596 in Books (See Top 100 in Books)

Customer Reviews

Top Customer Reviews

By Dennis Littrell HALL OF FAMEVINE VOICE on August 7, 2009
Format: Paperback
This is an excellent primer on equities. Skonieczny begins as simply as in a Dummies or Idiot's guide by explaining what a business is and how investing in the stock market is buying a piece of a business. He delineates how businesses are evaluated in terms of bottom line success or failure, the details of which are what the investor should know about any business before buying its stock. This is the fundamentalist approach to investing, the sort of knowledge that cannot be skipped and is known by any savvy investor.

The prose and the illustrations are easy enough for a sixth grader to understand, and that is one of the strengths of the book. Skonieczny knows what he is talking about and has taken the trouble to make it clear to the beginner. A key idea, so basic that it is often overlooked or not really appreciated by the beginning investor is that of risk to reward. Skonieczny makes it clear that any stock market purchase must promise a reward greater than the prevailing interest rates and greater than Treasury Notes and other fixed income instruments because the risk in the stock market is greater. He shows how this thinking is merely an extension of the understanding that you wouldn't start and run or invest in a business unless its bottom line profit potential was greater than what the bank gives its depositors.

When to Buy? (the third chapter) concentrates on the objective value of a company based on its projected earnings relative to the price of the stock. Skonieczny eschews technical analysis. No voodoo technical charts with running averages and ghostly heads and shoulders. Instead there is a simple chart on page 37 showing the price/value fluctuations of a stock.
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Format: Paperback
I found this book to be most excellent in explaining what can be complex financial terms and ideas. Even though I have a business degree, and MBA, and work in finance, I sometimes find it difficult to explain to others these basic concepts. Skonieczny discusses these topics with a simplistic brilliance that makes topics such as p/e ratios, discount rates, when to buy, and when to sell seem so easy. I wished that I had this book when I was in school, this would have made some of the study much, much easier. Now that I have this in my hand I hope to make better decisions regarding my personal investing.

I liked that in the final chapters of the book he explains clearly why AIG, Fannie Mae, and Freddie Mac failed. While keeping up with the news I don't think that I had ever had these failures explained so consisely. I liked that he then picked out some companies that were doing a really good job and explained how and why they were doing well. He also went on to emphasize that we are responsible for our own study and understanding of our investing. I feel that if we applied spending the one hour a week per stock that fewer of us would end up with bad investments, and perhaps avoid retirement portfolios that have dropped in value considerably.

I really admire Skonieczny for taking a topic that is typically dry and dull and breathing life into numbers. While I may work in finance isn't often that you find someone that is passionate about explaining these theories in terms and words that everyone will easily understand. Whether you are a student trying to make sense of finance, or even an investor that is trying to regain control over your investments I believe you will be able to get a lot of valuable material out of this book.
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Format: Paperback
Skonieczny explains the important difference between
buying a stock versus the complexities inherent in
purchasing an entire business. Clearly, stocks are
much easier to analyze than entire businesses.

Clueless investors make errors for a plethora of
reasons including panic, buying too high, not knowing
how to value a business or selling too early.
This volume helps potential investors avoid costly
errors through a systematic analysis of the investment
fundamentals.

More importantly, the author covers the difficult
question involving how to create wealth over the
long term. The book explains various mechanisms
like reinvesting dividends, DRIPS and wise diversification.
Personally, I favor reinvesting dividends due to the
savings on broker fees.

The author covers the important concept of an investment
moat which protects revenues and profits from competitors.
Ferrari has created a moat via the tremendous prestige
of ownership coupled with known superior quality of the
product.

The book depicts stock worksheets which cover the fundamentals
of investment analysis like trading price, PE ratios,
dividend payout, stock peaks and troughs. Profitable stocks;
such as, Burlington Northern RR are cited due to the superior
revenue streams and the constancy of business operations both
now and well into the future.

The book would make an excellent acquisition for your
personal library.

Dr. Joseph S. Maresca
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