The #1 GROWTH STRATEGY for stock investing

"To be a successful investor, start with the basics and stick to the rules. Matt's book shows you how to do that. It may be the missing link you've been looking for."
--William J. O'Neil, "Investor's Business Daily" Founder and Chairman

""Getting Started" takes the guesswork out of investing. Anyone can use these routines and checklists to become a successful investor."
--Amy Smith, "How to Make Money in Stocks--Success Stories"

Through both bull and bear markets, Investor's Business Daily's CAN SLIM(R) Investment System has consistently been the #1 growth strategy, according to the American Association of Individual Investors. "How to Make Money in Stocks--Getting Started" shows you how to put the CAN SLIM System to work for you.

Using an easy-to-follow game plan designed for busy people, you'll discover: 2 simple rules to protect your money 3 critical factors to consider before you buy Buying & Selling Checklists to help you capture - and keep - solid gains Easy-to-follow routines How to spot--and deal with--major changes in market direction Action Steps and online videos to quickly start using what you learn

"Getting Started" is the latest addition to the bestselling "How to Make Money in Stocks" series launched by CAN SLIM creator and "Investor's Business Daily" founder William J. O'Neil. Millions of investors have used O'Neil's strategy to build financial peace of mind. Now it's your turn

So whether you're new to the stock market and a little nervous about jumping in--or if you've been investing for awhile, but aren't yet achieving the kind of results you want--"How to Make Money in Stocks--Getting Started" gives you a clear, step-by-step path to investing success.

Written in a highly accessible style, A Factor Model Approach to Derivative Pricing lays a clear and structured foundation for the pricing of derivative securities based upon simple factor model related absence of arbitrage ideas. This unique and unifying approach provides for a broad treatment of topics and models, including equity, interest-rate, and credit derivatives, as well as hedging and tree-based computational methods, but without reliance on the heavy prerequisites that often accompany such topics. Whether being used as text for an intermediate level course in derivatives, or by researchers and practitioners who are seeking a better understanding of the fundamental ideas that underlie derivative pricing, readers will appreciate the book's ability to unify many disparate topics and models under a single conceptual theme.

Dynamic Hedging is the definitive source on derivatives risk. It provides a real-world methodology for managing portfolios containing any nonlinear security. It presents risks from the vantage point of the option market maker and arbitrage operator. The only book about derivatives risk written by an experienced trader with theoretical training, it remolds option theory to fit the practitioner's environment. As a larger share of market exposure cannot be properly captured by mathematical models, noted option arbitrageur Nassim Taleb uniquely covers both on-model and off-model derivatives risks.

The author discusses, in plain English, vital issues, including:

• The generalized option, which encompasses all instruments with convex payoff, including a trader's potential bonus.
• The techniques for trading exotic options, including binary, barrier, multiasset, and Asian options, as well as methods to take into account the wrinkles of actual, non-bellshaped distributions.
• Market dynamics viewed from the practitioner's vantage point, including liquidity holes, portfolio insurance, squeezes, fat tails, volatility surface, GARCH, curve evolution, static option replication, correlation instability, Pareto-Levy, regime shifts, autocorrelation of price changes, and the severe flaws in the value at risk method.
• New tools to detect risks, such as higher moment analysis, topography exposure, and nonparametric techniques.
• The path dependence of all options hedged dynamically

Dynamic Hedging is replete with helpful tools, market anecdotes, at-a-glance risk management rules distilling years of market lore, and important definitions. The book contains modules in which the fundamental mathematics of derivatives, such as the Brownian motion, Ito's lemma, the numeraire paradox, the Girsanov change of measure, and the Feynman-Kac solution are presented in intuitive practitioner's language.

Dynamic Hedging is an indispensable and definitive reference for market makers, academics, finance students, risk managers, and regulators.

The definitive book on options trading and risk management

"If pricing is a science and hedging is an art, Taleb is a virtuoso." —Bruno Dupire, Head of Swaps and Options Research, Paribas Capital Markets

"This is not merely the best book on how options trade, it is the only book." —Stan Jonas, Managing Director, FIMAT-Société Générale

"Dynamic Hedging bridges the gap between what the best traders know and what the best scholars can prove." —William Margrabe, President, The William Margrabe Group, Inc.

"The most comprehensive, insightful, intuitive work on the subject. It is instrumental for both beginning and experienced traders."—

"A tour de force. That rare find, a book of great practical and theoretical value. Taleb successfully bridges the gap between the academic and the real world. Interesting, provocative, well written. Each chapter worth a fortune to any current or prospective derivatives trader."—Victor Niederhoffer, Chairman, Niederhoffer Investments

Top options expert Larry Shover returns to discuss how to interpret, and profit from, market volatility

"Trading Options in Turbulent Markets, Second Edition" skillfully explains the intricacies of options volatility and shows you how to use options to cope, and profit from, market turbulence. Throughout this new edition, options expert Larry Shover reveals how to use historical volatility to predict future volatility for a security and addresses how you can utilize that knowledge to make better trading decisions.

Along the way, he also defines the so-called Greeks--delta, vega, theta, and gamma--and explains what drives their values and their relationship to historic and implied volatility. Shover then provides effective strategies for trading options contracts in uncertain times, addressing the decision-making process and how to trade objectively in the face of unpredictable and irrational market moves.Includes a new chapter of the VIX, more advanced material on volatility suitable for institutional or intermediate options trader, and additional volatility-based strategiesAnswers complex questions such as: How does a trader know when to tolerate risk and How does a successful trader respond to adversity?Provides a different perspective on a variety of options strategies, including covered calls, naked and married puts, collars, straddles, vertical spreads, calendar spreads, butterflies, condors, and more

As volatility becomes a greater focus of traders and investors, "Trading Options in Turbulent Markets, Second Edition" will become an important resource for in-depth insights, practical advice, and profitable strategies.

The Handbook of Research on IPOs provides a comprehensive review of the emerging trends and directions in the global initial public offerings (IPO) markets. The empirical evidence included in the book covers Europe, the US and the Far East, and presents a truly global perspective of IPO markets around the world and at the different stages of the entire IPO process.The Handbook is divided into six comprehensive parts: - why, when and where firms go public - preparation for the IPO - transaction structure and governance at the IPO - trading in the aftermarket - the aftermarket performance of IPOs - special types of IPOs. The chapters offer some important new insights into issues that will be of interest not only to the academic community but also to professionals involved in the preparation, structure and execution of such transactions, market regulators, and private and institutional investors. Contributors: N. Appadu, D.B. Audretsch, F. Bancel, S. Banerjee, F. Bertoni, W. Bessler, R. Boissin, M. Bonaventura, P. Brown, J. Cao, M. Cattaneo, S. Chaplinsky, S. Chattopadhyay, H.M.J. Colaco, D. Cumming, J. D Souza, S. Espenlaub, A. Faelten, A. Ferguson, C.S. Fernando, V.A. Gatchev, G. Giudici, M. Goergen, D. Gounopoulos, U. Gucbilmez, S. Gupta-Mukherjee, G. Gur-Gershgorn, S.P. Hegde, J. Hoebelt, S. Johan, A. Khurshed, P. Lam, E.E. Lehmann, M. Levis, W.L. Megginson, M. Meoli, J.-S. Michel, K. Migliorati, U.R. Mittoo, A.C. Mohliver, R. Nash, S. Owen, S. Paleari, J.A. Pandes, G. Pawlina, M. Remenar, J.R. Ritter, M.J. Robinson, M. Seim, A. Signori, P.A. Spindt, J.-A. Suchard, S. Vismara, K. Yamada

AVERAGE ANNUAL RETURNS OF 70% ... 90% ... 220%! FIND OUT HOW THE WIZARDS OUTPERFORM THE MARKET

Can you beat the market year after year and largely sidestep periodic downturns? What separates the country's best investors from the ordinary? What lessons can the small investor learn from modern stock market wizards?

Acclaimed trading expert Jack Schwager went to thirteen phenomenally successful traders for answers, including Mark Minervini, a junior high school dropout, who has averaged a 220 percent annual return during the past five years, while keeping his maximum quarterly loss to a fraction of one percent; Mark Cook, a Midwestern farmer who registered back-to-back annual gains of 563 and 322 percent in national trading contests; and Steve Lescarbeau, whose computerized trading model earns him an average of 70 percent per year with an incredibly low drawdown of only 3 percent.

In lively interviews with his all-star lineup, Schwager brings you true stories, eye-opening tips, and the inside scoop on how to ride the bull, battle the bear, and still come out on top. And in a final wrap-up Schwager lays out 64 market lessons that provide invaluable insights for average investors and market professionals alike.

How top traders made huge profits during the most momentous market events of the past century

Financial and commodity markets are characterized by periodic crashes and upside explosions. In retrospect, the reasons behind these abrupt movements often seem very clear, but generally few people understand what's happening at the time. Top traders and investors like George Soros or Jesse Livermore have stood apart from the crowd and capitalized on their unique insights to capture huge profits.

Engaging and informative, The Greatest Trades of All Time chronicles how a select few traders anticipated market eruptions?from the 1929 stock market crash to the 2008 subprime mortgage meltdown?and positioned themselves to excel while a majority of others failed. Along the way, author Vincent Veneziani describes the economic and financial forces that led to each market cataclysm and how these?individuals perceived what was happening beforehand and why they decided to place big bets, often at great risk and in opposition to consensus opinion at the time.Traders discussed include George Soros, Jesse Livermore, Paul Tudor Jones, John Templeton, and John PaulsonProvide contemporary traders and investors with insights on how great traders make great tradesOffers insights on market forecasting, mass psychology, and the importance of personal conviction in trading

At a time when many investors are looking to the past for answers to the future, this book brings important historical moments in the financial markets to life.

First Published in 2005. Routledge is an imprint of Taylor & Francis, an informa company.

The Equity Risk Premium—the difference between the rate of return on common stock and the return on government securities—has been widely recognized as the key to forecasting future returns on the stock market. Though relatively simple in theory, understanding and making practical use of the equity risk premium concept has been dauntingly complex—until now.

In The Equity Risk Premium, financial advisor, author, and scholar Bradford Cornell makes accessible for the first time an authoritative explanation of the equity risk premium and how it works in the real world. Step-by-step, his lucid, nontechnical presentation leads the reader to a new and more enlightened basis for making asset allocation choices.

Cornell begins his analysis by looking at the equity risk premium in the light of stock market history. He examines the use of historical data in estimating future stock market performance, including the historical relationship between stock returns and risk premium, the impact of survival bias, and the effect of long-horizon stock and bond returns. Using the stock market boom of the 1990s as a case study, Cornell demonstrates what equity risk premium analysis can tell us about whether stock prices are high or low, whether the stock market itself may have changed, and whether indeed a new economic paradigm of higher earnings and dividend growth is now in place.

Cornell analyzes forward-looking estimates of the equity risk premium through the lens of various competing approaches and assesses the relative merits of each. Among those scrutinized are the Discounted Cash Flow model, the Kaplan-Rubeck study, the Welch survey, and the Fama-French Aggregate IRR analysis. His insights on risk aversion theory, on the types of risk that have been rewarded over time, and on changing investor demographics all supply the sophisticated investor with important pieces of the risk premium puzzle.

In his invaluable summing up of the equity risk premium and the long-run outlook for common stocks, Cornell weighs the evidence and assays the impact of a lower equity risk premium in the future—and its profound implications for investments, corporate decision making, and retirement planning.

The product of years of serious analysis and hard-won insights, The Equity Risk Premium is essential reading for institutional investors, money managers, corporate financial officers, and all others who require a higher level of market analysis.

"The Equity Risk Premium plays a critical role in legal and regulatory matters related to corporate finance. Along with the cost of debt, it is the most important determinant of a company's cost of capital. As such, it is an integral part of the decision-making process in corporate finance. For instance, whether or not a major acquisition makes sense can depend on the assumed value of the equity risk premium. In addition, the equity risk premium is an issue that regulatory bodies consider when they set fair rates of return for regulated companies. Cornell's book is an important contribution because it includes both an historical analysis of the equity risk premium and provides tools for forecasting reasonable levels of the risk premium in the years ahead."—Theodore N. Miller, Partner, Sidley & Austin.

"Estimating how well stocks will do in the future from how well they have done in the past is like driving a car while looking in the rearview mirror. Brad Cornell provides us with an important forward-looking view in this easily understood guide to the equity risk premium and confounds the popular view that stocks will do well in the future because they have done well in the past."—Michael Brennan, Past President of the American Finance Association and Professor of Finance at the University of California at Los Angeles.

The current consensus economic model, the neoclassical synthesis, depends on aprioristic assumptions that are shown to be invalid when tested against the data and fails to include finance. Economic policy based on this consensus has led to the financial crisis of 2008, the 'Great Recession' that followed, and the slow subsequent rate of growth. In The Economics of the Stock Market, Andrew Smithers proposes a model that is robust when tested, and by including the impact of the stock market on the economy, overcomes both these defects. The faults of the current consensus model are shown to result typically from an unscientific methodology in which assumptions are held to be valid despite their incompatibility with data evidence. Smithers demonstrates examples of these faults: the Miller/Modigliani Theorem (the assumption that leverage does not affect the value of produced capital assets); the assumption that short-term and long-term interest rates, and the cost of equity capital, are co-determined; and the assumption that the decisions of corporate managements aim to maximise the present value of corporate assets ('profit maximisation') rather than the value determined by the stock market. The Economics of the Stock Market proposes a model that includes and explains the stationarity of real returns on equity, based on the interaction of the differing utility preferences of the managers of companies and the owners of financial capital. These claims are highly controversial, and Smithers proposes that the relative merits of the neoclassical synthesis and this proposed alternative can only be properly considered through public debate.

Profitable trade set-ups from StockTwits leading traders

One of the biggest secrets on Wall Street is that to become consistently profitable, you need to specialize in a distinct setup. That is, you need to know how to read the signals that can help you identify an opportunity to buy or sell. In "The StockTwits Edge: 40 Actionable Trade Setups from Real Market Pros," both well-known professional masters of the market and lesser-known individual traders describe their highest probability setups to teach you about an assortment of time frame and asset class-related market methods along the way.

Drawing on the wisdom of some of the top minds at StockTwits, the leading stock market social networking site, this book has something for everyone, giving you exactly what you need to come up with profitable ideas and avoid financial risk, every day.Includes key trading insights from the experts at StockTwitsExplains which factors of a setup are important, and why

While there are many factors involved in successful trading and investing, the ability to identify profitable situations is paramount, and "The StockTwits Edge" gives you everything you need to achieve that goal.

A practical guide to institutional investing success

"Managed Futures for Institutional Investors" is an essential guide that walks you through the important questions that need to be addressed before investing in this asset class and contains helpful direction for investors during the investing process.

Backed by years of institutional experience, the authors reveal the opportunities offered by managed futures. They also include information on practices in the managed futures area and present the various analytical tools and building blocks required to use managed futures effectively. The book also contains insight on the issues that must be addressed when building and evaluating portfolios. Shows where to find data to evaluate managed futures and explains how managed futures are regulatedOffers guidance on how to apply classic portfolio construction tools to managed futures Reveals how managed futures investments can help investors evaluate and meet risk, return, and liquidity objectives

"Managed Futures for Institutional Investors" provides all the practical information to manage this type of investment well.

A complete guide for beginning investors who want to understand how to invest like Warren Buffett. This is one of the first books to showcase both Warren Buffett's Value Investing technique and his life skills and habits for beginning investors. Sustainable results often come from changes in lifestyle and habits; hence, the first section of the book discusses habits that one needs to adopt to be able to invest like Warren Buffett, and prepares readers for a lifelong journey of wealth building. The second section examines specific stock-picking techniques. The authors look at timeless principles as well as latest ideas on where to find great investment ideas, and share specific financial indicators they look for in a good investment. The authors explain valuation principles and techniques that help investors decide when to buy a stock. The techniques are inspired by investor and economist, Benjamin Graham, the 'father of value investing', and are vastly different from the common Wall Street wisdom of trying to time the market. The final section of the book explains how the reader can build and track a portfolio of stocks. Authors encourage readers to follow Warren Buffett's first rule of investing 'Never Lose Money', and explain three important steps that significantly lower risk: - Choose good stocks with low risk - Buy at a good price with margin of safety. - Diversify into a basket of stocks. Questionnaires, charts and graphs help explain techniques and habits simply.

Praise for The RIGHT STOCK at the RIGHT TIME

"A fundamentally good time to consider the strategies in this book. Macro-market timing, stock-specific approaches, money management revelations and intermarket analysis. Even better that it is written by someone who has actually done it himself."
–Lindsay Glass,
Global Market Timing Specialist, Bloomberg L.P.

"This book delivers a knock-out punch to investor pessimism, with an uppercut of bullishness and hard facts."
–Ray Mercer
Former World Heavyweight Champion

"The stock market is a major stream of income and Williams clearly shows the best time and stocks to buy."
–Robert Allen
New York Times bestselling financial author and millionaire maker

"Each year for thirty-six years I have sought out the ‘Best Investment Book of the Year’ for our annual Stock Trader’s Almanac. For the 2004 edition I have chosen Larry Williams’s The Right Stock at the Right Time. No other book on the horizon comes close to this one. Larry lets you stand on his shoulders and view the market from the vantage of a master."
–Yale Hirsch
President, The Hirsch Organization Inc.

The stock market globalization process has produced historic changes in the structure of stock markets, the effects of which are evident throughout the world. Despite these transformations, there are relatively few sources examining the connections between the globalization process currently under way and previous periods of stock market globalization. This seminal volume fills that gap. The chapters in the first section examine previous globalization periods through the lens of the corporate economy, valuing equities and managed funds. Further chapters address current issues such as the social closure of the exchange, demutualization and mergers and acquisitions as well as cross-listing and liquidity. The final chapters consider the regulatory challenges posed by stock market globalization. These include the pressures on regulators from rent-seeking stock market participants, the demise of exchange trading floors and Latin America's stock market. Timely, multi-disciplinary and practical, this informative Handbook will be an essential reference for students and scholars of economics, finance and accounting, finance professionals and security market regulators. Contributors include: Y. Cassis, A. de la Torre, M. Geranio, I. Hasan, D.J. Harty, E. Hutson, J. Markham, R. Michie, G. Poitras, A. Preda, J. Rutterford, S. Schmukler, H. Schmiedel, L. Song, G. Zanotti

First published in 1987, this is a reissue of the first book to offer a detailed comparison of two of the foremost stock exchanges in world before 1914. It is not only an exercise in comparative economic history but it also relates these institutions to wider world markets, thereby clarifying their functions and how they related to the general financial and economic framework. Students and researchers in economic and social history will welcome the reissue of this groundbreaking account of two historically important institutions in a crucial period of their development. Financial practitioners and others will also find much of interest here, in terms of both fascinating history and of insights into an era when a global market was rapidly evolving largely free of the twentieth-century distortions and hindrances introduced by wars, interventionist governments and exchange controls.

This authoritative two-volume collection brings together a comprehensive selection of over 40 previously published articles which include seminal and recent contributions in the area of speculation and financial markets.The volumes present the key theoretical and applied research in the pricing of assets, market efficiency and behavioural finance. It explores speculative behaviour in finance and the main financial markets including the stock market, the bond market and the market for foreign exchange and derivatives. Speculation and Financial Markets will be an essential source of reference for researchers, students and practitioners. It will also be an invaluable companion to intermediate and advanced texts on financial markets.

The behavior of multinational corporations and their affiliates, and the impact of foreign direct investment on host economics, vary between countries and industries in a systematic way. MNCs select their strategies depending on the characteristics of their technologies and products. Some host country governments try simultaneously to influence behavior of the foreign MNC's operating in their territory. The effects of (FDI) on the host economy are determined by this intricate interplay of firm and host country strategies. This book summarizes more than a decade of research aiming to understand this interplay.

Stock market integration between developing and emerging markets has numerous benefits for creating a global - yet stable - world economy. It increases competition and the efficiency of local markets, in turn reducing price volatility and the cost of capital among integrated markets. It also generates capital flows, which enhance financial stability and spur economic growth. At its core, stock market integration has an important role to play in both developing and emerging markets still reeling from the global financial crisis. Global Stock Market Integration analyzes the financial makeup of developing and emerging markets around the world, providing empirical insights into market integration, co-movements in price, crises, and efficiency linkages. Mobarek and Mollah argue that the relationship between market integration and market efficiency within developing and emerging countries is not the only measure necessary for effecting real financial growth. This work brings the review of theories and empirical research on the topic up-to-date and expands the existing literature with new perspectives on developed and emerging markets.

First published in 1987, this is a reissue of the first book to offer a detailed comparison of two of the foremost stock exchanges in world before 1914. It is not only an exercise in comparative economic history but it also relates these institutions to wider world markets, thereby clarifying their functions and how they related to the general financial and economic framework.

Students and researchers in economic and social history will welcome the reissue of this groundbreaking account of two historically important institutions in a crucial period of their development. Financial practitioners and others will also find much of interest here, in terms of both fascinating history and of insights into an era when a global market was rapidly evolving largely free of the twentieth-century distortions and hindrances introduced by wars, interventionist governments and exchange controls.

Trading the financial markets is extremely difficult, but with the right approach, traders can achieve success. Nobody knows this better than authors Larry Pesavento and Leslie Jouflas, both traders and educators of traders, who have consistently used pattern recognition to capture profits from the markets. In "Trade What You See, " Pesavento and Jouflas show traders how to identify patterns as they are developing and exactly where to place entry and exit orders. While some patterns derive from the techniques of Wall Street's earliest traders and other patterns reflect Pesavento's emphasis on the geometry of market movements and Fibonacci numbers.. Filled with hard-won knowledge gained through years of market experience, "Trade What You See"outlines both a practical and sophisticated approach to trading that will be of interest to both novice and seasoned traders alike.

Larry Pesavento is a forty-year veteran trader. He operates a Web site,

"This is a definitive, excellent book on Elliott, and I recommend it to all who have an interest in the Wave Principle." Richard Russell, Dow Theory Letters
"Gold and Silver Today wholeheartedly endorses this book. It is the definitive work on a scientific wave theory of human experience. If you are interested in technical or wave analysis, it should be required reading." Gold & Silver Today
"This book is extremely well done. It is clear, brief and bold....by far the most useful and comprehensive for both the beginner and the veteran." William Dilanni, Wellington Mgmt. Co.
"An outstanding job...I don't think a better basic handbook of Elliott Wave theory could be written." Donald J. Hoppe, Business and Investment Analysis
"...A top-drawer reference for serious technical analysts....all the nuts and bolts necessary to do their own Elliott Wave assembly." Futures Magazine
"Chapter Three is the best description of Fibonacci numbers we've seen in print and that alone is worth the price of the book." Janes Dines, The Dines Letter
"In a third of a lifetime in this business, this was the first time I really understood Elliott, and this is certainly the first book on Elliott that I could recommend. All the methods that Prechter has used so successfully are fully described in this book." The Professional Investor
"Elliott Wave Principle is such an important, fascinating, even mind-bending work, we are convinced that it should be read by and and every serious student of the market, be they fundamentalist or technician, dealing in stocks, bonds or commodities." Market Decisions
"Even allowing for minor stumbles, that 1978 prediction must go down as the most remarkable stick market prediction of all time." James W. Cowan, Monitor Money Review
Recipient of the Technical Analysis Association's Award of Excellence

Picking up where Liar's Poker left off (literally, in the bond dealer's desks of Salomon Brothers) the story of Long-Term Capital Management is of a group of elite investors who believed they could beat the market and, like alchemists, create limitless wealth for themselves and their partners. Founded by John Meriweather, a notoriously confident bond dealer, along with two Nobel prize winners and a floor of Wall Street's brightest and best, Long-Term Captial Management was from the beginning hailed as a new gold standard in investing. It was to be the hedge fund to end all other hedge funds: a discreet private investment club limited to those rich enough to pony up millions. It became the banks' own favourite fund and from its inception achieved a run of dizzyingly spectacular returns. New investors barged each other aside to get their investment money into LTCM's hands. But as competitors began to mimic Meriweather's fund, he altered strategy to maintain the fund's performance, leveraging capital with credit on a scale not fully understood and never seen before. When the markets in Indonesia, South America and Russia crashed in 1998 LCTM's investments crashed with them and mountainous debts accumulated. The fund was in melt-down, and threatening to bring down into its trillion-dollar black hole a host of financial instiutions from New York to Switzerland. It's a tale of vivid characters, overwheening ambition, and perilous drama told, in Roger Lowenstein's hands, with brilliant style and panache.