Book picks similar to
The Davis Dynasty: Fifty Years of Successful Investing on Wall Street by John Rothchild
investing
biography
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finance
The Single Best Investment: Creating Wealth with Dividend Growth
Lowell Miller - 1997
Citing statistics that show companies initiating and raising dividends at the fastest rate in 30 years, this analysis declares once-stodgy dividends to be "the next new thing" and provides simple rules for choosing the best stocks, using traditional evaluation tools, reinvesting dividends, comparing stocks and bonds, and building a portfolio. Technical aspects of the stock market are explained in the final pages that include two new chapters and revised statistics as well as academic studies, historic back-tests, examples of real-time performance, and a list of resources for further research.
The Complete TurtleTrader: The Legend, the Lessons, the Results
Michael W. Covel - 2007
Convinced that great trading was a skill that could be taught to anyone, he made a bet with his partner and ran a classified ad in the Wall Street Journal looking for novices to train. His recruits, later known as the Turtles, had anything but traditional Wall Street backgrounds; they included a professional blackjack player, a pianist, and a fantasy game designer. For two weeks, Dennis taught them his investment rules and philosophy, and set them loose to start trading, each with a million dollars of his money. By the time the experiment ended, Dennis had made a hundred million dollars from his Turtles and created one killer Wall Street legend.In The Complete Turtle Trader, Michael W. Covel, bestselling author of Trend Following and managing editor of TurtleTrader.com, the leading website on the Turtles, tells their riveting story with the first ever on the record interviews with individual Turtles. He describes how Dennis interviewed and selected his students, details their education and experiences while working for him, and breaks down the Turtle system and rules in full. He reveals how they made astounding fortunes, and follows their lives from the original experiment to the present day. Some have grown even wealthier than ever, and include some of today's top hedge fund managers. Equally important are those who passed along their approach to a second generation of Turtles, proving that the Turtles' system truly is reproducible, and that anyone with the discipline and the desire to succeed can do as well as—or even better than—Wall Street's top hedge fund wizards.In an era full of slapdash investing advice and promises of hot stock tips for "the next big thing," as popularized by pundits like Jim Cramer of Mad Money, the easy-to-follow objective rules of the TurtleTrader stand out as a sound guide for truly making the most out of your money. These rules worked—and still work today—for the Turtles, and any other investor with the desire and commitment to learn from one of the greatest investing stories of all time.
The 12% Solution
David Alan Carter - 2017
A strategy that’s not pie-in-the-sky and not just a bunch of theory, but rather a systematic plan that is backed up with real numbers showing it clearly beating the S&P 500 over time. A trading strategy that’s understandable, repeatable, that works and works simply.Anyone can do this. In simple-to-understand language, you’ll discover---- The six ETFs that power the strategy, and why.-- The simple technique for identifying which of those ETFs to buy, and which to sell. And most importantly, when.-- How $5,000 can end up $1,000,000 in your retirement portfolio.-- How to protect your portfolio during market downturns with a simple cash trigger.-- In short, how to earn an average of 12% annually in the stock market with minimal trading, less volatility, and less risk.Beat "The Street" in just 20 minutes.If you have 20 minutes a month and a computer, you can turn any investment amount into a steadily growing compounding machine that will make you the envy of Mad Money’s Jim Cramer and 99% of all mutual fund managers.Make just 2-4 trades one day a month. The strategy tells you what ETFs to buy and what to sell. That’s it. Then turn off the computer and go live your life.
The DAO of Capital: Austrian Investing in a Distorted World
Mark Spitznagel - 2013
We arrive at his central investment methodology of Austrian Investing, where victory comes not from waging the immediate decisive battle, but rather from the roundabout approach of seeking the intermediate positional advantage (what he calls shi), of aiming at the indirect means rather than directly at the ends. The monumental challenge is in seeing time differently, in a whole new intertemporal dimension, one that is so contrary to our wiring.Spitznagel is the first to condense the theories of Ludwig von Mises and his Austrian School of economics into a cohesive and--as Spitznagel has shown--highly effective investment methodology. From identifying the monetary distortions and non-randomness of stock market routs (Spitznagel's bread and butter) to scorned highly-productive assets, in Ron Paul's words from the foreword, Spitznagel "brings Austrian economics from the ivory tower to the investment portfolio."The Dao of Capital provides a rare and accessible look through the lens of one of today's great investors to discover a profound harmony with the market process--a harmony that is so essential today.
MODERN VALUE INVESTING: 25 Tools to Invest With a Margin of Safety in Today's Financial Environment
Sven Carlin - 2018
One way of doing that is through investing education. The book is my attempt to help with the development of a strong investing mindset and skillset to help you make better investment decisions. There is a gap in the value investing world. Benjamin Graham published The Intelligent Investor in 1949 with several subsequent editions up to 1972, while Seth Klarman published Margin of Safety in 1991. With more than 50 years since Graham published his masterpiece and almost 30 since Klarman's, there was the need for a contemporary book to account for all the changes in the financial environment we live in.Modern Value Investing book does exactly that, in 4 parts.Part 1 discusses the most important psychological traits a successful investor should have. Part 2 describes 25 tools that help with investment analysis.Part 3 applies those tools on an example. Part 4 is food for investing thought as it discusses modern approaches to investing. Approaches range from an all-weather portfolio strategy to hyperbolic discounting and others you can take advantage of when the time is right.
The Real Warren Buffett: Managing Capital, Leading People
James O'Loughlin - 2002
Zeroing in on his original management style and leadership approach, author James O'Loughlin exposes the powerful and practical lessons of Buffett, demonstrating how he became the second richest man in America.
MONEY Master the Game: 7 Simple Steps to Financial Freedom
Anthony Robbins - 2014
More than 4 million people have attended his live events. Oprah Winfrey calls him super-human. Now for the first time - in his first book in two decades - he's turned to the topic that vexes us all: How to secure financial freedom for ourselves and our families. Based on extensive research and one-on-one interviews with more than 50 of the most legendary financial experts in the world - from Carl Icahn and Warren Buffett, to Ray Dalio and Steve Forbes - Tony Robbins has created a simple 7-step blueprint that anyone can use for financial freedom.Robbins has a brilliant way of using metaphor and story to illustrate even the most complex financial concepts - making them simple and actionable. With expert advice on our most important financial decisions, Robbins is an advocate for the reader, dispelling the myths that often rob people of their financial dreams.Tony Robbins walks readers of every income level through the steps to become financially free by creating a lifetime income plan. This book delivers invaluable information and essential practices for getting your financial house in order. MONEY: Master the Game is the book millions of people have been waiting for.
Warren Buffett's Ground Rules: Words of Wisdom from the Partnership Letters of the World's Greatest Investor
Jeremy Miller - 2016
Over the course of that time—a period in which he experienced an unprecedented record of success—Buffett wrote semiannual letters to his small but growing group of partners, sharing his thoughts, approaches, and reflections.Compiled for the first time and with Buffett’s permission, the letters spotlight his contrarian diversification strategy, his almost religious celebration of compounding interest, his preference for conservative rather than conventional decision making, and his goal and tactics for bettering market results by at least 10% annually. Demonstrating Buffett’s intellectual rigor, they provide a framework to the craft of investing that had not existed before: Buffett built upon the quantitative contributions made by his famous teacher, Benjamin Graham, demonstrating how they could be applied and improved.Jeremy Miller reveals how these letters offer us a rare look into Buffett’s mind and offer accessible lessons in control and discipline—effective in bull and bear markets alike, and in all types of investing climates—that are the bedrock of his success. Warren Buffett’s Ground Rules paints a portrait of the sage as a young investor during a time when he developed the long-term value-oriented strategy that helped him build the foundation of his wealth—rules for success every investor needs today.
Julian Robertson: A Tiger in the Land of Bulls and Bears
Daniel A. Strachman - 2004
For nearly twenty years his infamous fund--Tiger Management--was the talk of the town, routinely delivering double-digit performance. This biography will explore this legendary fund manager's role in the development and popularity of hedge funds, examine his investment methodology and strategy, and look at the growth of his fund and his 'Tigers'--individuals who have gone on to great success themselves. * Includes candid interviews of Robertson, his colleagues, and his peers * Uncovers the trading strategies and investment style of a legendary fund manager * Offers a rare glimpse inside the personal world of Julian Robertson READERSHIP: Those with any interest in or knowledge of hedge funds, business readers, investment professionals. Daniel A. Strachman is Managing Director of Answers Company, a New York-based money management firm that offers investment management services to individuals and institutions. He has contributed many articles on investment management and strategies to publications including the New York Post and the Financial Times and is also the author of Getting Started in Hedge Funds (Wiley 2000). Also available by Daniel Strachman, Getting Started in Hedge Funds, 0471316962 Paper. EAN - 9780471323631 Carton Quantity - 41
Business Adventures
John Brooks - 1969
What do the $350 million Ford Motor Company disaster known as the Edsel, the fast and incredible rise of Xerox, and the unbelievable scandals at General Electric and Texas Gulf Sulphur have in common? Each is an example of how an iconic company was defined by a particular moment of fame or notoriety. These notable and fascinating accounts are as relevant today to understanding the intricacies of corporate life as they were when the events happened.Stories about Wall Street are infused with drama and adventure and reveal the machinations and volatile nature of the world of finance. John Brooks’s insightful reportage is so full of personality and critical detail that whether he is looking at the astounding market crash of 1962, the collapse of a well-known brokerage firm, or the bold attempt by American bankers to save the British pound, one gets the sense that history really does repeat itself.
Contrarian Investment Strategies: The Psychological Edge
David Dreman - 1998
The need to switch to a new approach for investing has never been more urgent. The Crash of 2007 revealed in dramatic fashion that there are glaring flaws in the theory that underlies all of the prevailing investment strategies—efficient market theory. This theory, and all of the most popular investing strategies, fail to account for major, systematic errors in human judgment that the powerful new research in psychology David Dreman introduces has revealed, such as emotional over-reactions and a host of mental shortcuts in judgment that lead to wild over and under-valuations of stocks, bonds, and commodities and to bubbles and crashes. It also leads to horribly flawed assessments of risk. Dreman shows exactly how the new psychological findings definitively refute those strategies and reveals how his alternative contrarian strategies do a powerful job of accounting for them. He shows readers how by being aware of these new findings, they can become saavy psychological investors, crash-proofing their portfolios and earning market beating long-term returns. He also introduces a new theory of risk and substantially updates his core contrarian strategies with a number of highly effective methods for facing the most pressing challenges in the coming years, such as greatly increased volatility and the prospect of inflation. This is every investor’s essential guide to optimal investing.
Black Edge: Inside Information, Dirty Money, and the Quest to Bring Down the Most Wanted Man on Wall Street
Sheelah Kolhatkar - 2017
Cohen changed Wall Street. He and his fellow pioneers of the hedge fund industry didn't lay railroads, build factories, or invent new technologies. Rather, they made their billions through speculation, by placing bets in the market that turned out to be right more often than wrong and for this, they gained not only extreme personal wealth but formidable influence throughout society. Hedge funds now oversee more than $3 trillion in assets, and the competition between them is so fierce that traders will do whatever they can to get an edge.Cohen was one of the industry's biggest success stories, the person everyone else in the business wanted to be. Born into a middle-class family on Long Island, he longed from an early age to be a star on Wall Street. He mastered poker in high school, went off to Wharton, and in 1992 launched the hedge fund SAC Capital, which he built into a $15 billion empire, almost entirely on the basis of his wizard like stock trading. He cultivated an air of mystery, reclusiveness, and excess, building a 35,000-square-foot mansion in Greenwich, Connecticut, flying to work by helicopter, and amassing one of the largest private art collections in the world. On Wall Street, Cohen was revered as a genius: one of the greatest traders who ever lived.That image was shattered when SAC Capital became the target of a sprawling, seven-year investigation, led by a determined group of FBI agents, prosecutors, and SEC enforcement attorneys. Labeled by prosecutors as a magnet for market cheaters whose culture encouraged the relentless pursuit of edge and even black edge, which is inside information SAC Capital was ultimately indicted and pleaded guilty to charges of securities and wire fraud in connection with a vast insider trading scheme, even as Cohen himself was never charged.Black Edge offers a revelatory look at the gray zone in which so much of Wall Street functions. It's a riveting, true-life legal thriller that takes readers inside the government's pursuit of Cohen and his employees, and raises urgent and troubling questions about the power and wealth of those who sit at the pinnacle of modern Wall Street.
The Quants: How a New Breed of Math Whizzes Conquered Wall Street and Nearly Destroyed It
Scott Patterson - 2010
They were preparing to compete in a poker tournament with million-dollar stakes, but those numbers meant nothing to them. They were accustomed to risking billions. At the card table that night was Peter Muller, an eccentric, whip-smart whiz kid who’d studied theoretical mathematics at Princeton and now managed a fabulously successful hedge fund called PDT…when he wasn’t playing his keyboard for morning commuters on the New York subway. With him was Ken Griffin, who as an undergraduate trading convertible bonds out of his Harvard dorm room had outsmarted the Wall Street pros and made money in one of the worst bear markets of all time. Now he was the tough-as-nails head of Citadel Investment Group, one of the most powerful money machines on earth. There too were Cliff Asness, the sharp-tongued, mercurial founder of the hedge fund AQR, a man as famous for his computer-smashing rages as for his brilliance, and Boaz Weinstein, chess life-master and king of the credit default swap, who while juggling $30 billion worth of positions for Deutsche Bank found time for frequent visits to Las Vegas with the famed MIT card-counting team. On that night in 2006, these four men and their cohorts were the new kings of Wall Street. Muller, Griffin, Asness, and Weinstein were among the best and brightest of a new breed, the quants. Over the prior twenty years, this species of math whiz --technocrats who make billions not with gut calls or fundamental analysis but with formulas and high-speed computers-- had usurped the testosterone-fueled, kill-or-be-killed risk-takers who’d long been the alpha males the world’s largest casino. The quants believed that a dizzying, indecipherable-to-mere-mortals cocktail of differential calculus, quantum physics, and advanced geometry held the key to reaping riches from the financial markets. And they helped create a digitized money-trading machine that could shift billions around the globe with the click of a mouse. Few realized that night, though, that in creating this unprecedented machine, men like Muller, Griffin, Asness and Weinstein had sowed the seeds for history’s greatest financial disaster. Drawing on unprecedented access to these four number-crunching titans, The Quants tells the inside story of what they thought and felt in the days and weeks when they helplessly watched much of their net worth vaporize – and wondered just how their mind-bending formulas and genius-level IQ’s had led them so wrong, so fast. Had their years of success been dumb luck, fool’s gold, a good run that could come to an end on any given day? What if The Truth they sought -- the secret of the markets -- wasn’t knowable? Worse, what if there wasn’t any Truth? In The Quants, Scott Patterson tells the story not just of these men, but of Jim Simons, the reclusive founder of the most successful hedge fund in history; Aaron Brown, the quant who used his math skills to humiliate Wall Street’s old guard at their trademark game of Liar’s Poker, and years later found himself with a front-row seat to the rapid emergence of mortgage-backed securities; and gadflies and dissenters such as Paul Wilmott, Nassim Taleb, and Benoit Mandelbrot. With the immediacy of today’s NASDAQ close and the timeless power of a Greek tragedy, The Quants is at once a masterpiece of explanatory journalism, a gripping tale of ambition and hubris…and an ominous warning about Wall Street’s future.
100 Baggers: Stocks That Return 100-To-1 and How to Find Them
Christopher W. Mayer - 2015
These are stocks that return $100 for every $1 invested. That means a $10,000 investment turns into $1 million. Chris Mayer can help you find them. It sounds like an outrageous quest with a wildly improbable chance of success. But when Mayer studied 100-baggers of the past, definite patterns emerged. In 100-Baggers, you will learn: -The key characteristics of 100-baggers -Why anybody can do this (It is truly an everyman's approach. You don't need an MBA or a finance degree. Some basic financial concepts are all you need.) -A number of crutches or techniques that can help you get more out of your stocks and investing The emphasis is always on the practical, so there are many stories and anecdotes to help illustrate important points. You should read this book if you want to get more out of your stocks. Even if you never get a 100-bagger, this book will help you turn up big winners and keep you away from losers and sleepy stocks that go nowhere. After reading 100-Baggers, you will never look at investing the same way again. It will energize and excite you about what is possible.
F Wall Street: Joe Ponzio's No-Nonsense Approach to Value Investing For the Rest of Us
Joel Ponzio - 2009
They should capitalize on it—and give a middle finger to those brokers wasting their time (and money) buying and selling, viewing investing as just buying stocks and not taking ownership of a company.In this book, Joe Ponzio gives an "f-you" to Wall Street and teaches you how to become a sharp value investor who uses economic downturns to your advantage. By buying into companies you believe in—but that may be selling for less than their intrinsic value, like high-end retailers in a weak market and discount retailers in a strong one—you will profit from their long-term performance. It's the perfect guide for anyone fed up with Wall Street's bull.