The rationale behind how people value and trade stocks is of unparalleled interest to governments, companies and other participants in stock markets. The book focuses on the way in which investors process information and form expectations about future gains. It argues that humans fall short of the perfect information processing required by theory, and that their expectations are based on more than just future company earnings. Karl-Erik Warneryd discusses the psychology of investing, providing detailed coverage of how financial expectations are formed, how complex decisions are made and how emotions and influence from others affect the financial decisions of individuals. Empirical studies featured in the book suggest that many, if not most, stockholders have long-term goals, believe in certain stocks, and make few transactions - behavior which, argues the author, may have a stabilizing influence upon stock prices. As a unique overview of how investors process information and build up expectations of future gains on stocks, this fascinating book will be welcomed by students of, and researchers in, economic psychology and behavioral finance. Stock-Market Psychology will also be invaluable to practitioners of finance who wish to learn more about the psychology behind financial transactions.

Advancing Point and Figure in the 21st Century Point and Figure has been around for over 130 years and the method is just as essential for chart analysis today as it always has been. While the basic principles of the technique have remained unchanged, those working with Point and Figure must still push the boundaries of how it is used, looking to make it even more insightful and powerful. This is exactly what Jeremy du Plessis has achieved with 21st Century Point and Figure. Previously, it was thought that the lack of time on Point and Figure charts meant that time-based tools and indicators could not be used, and lack of volume meant that the importance of individual columns could not be determined. Jeremy du Plessis shows definitively that neither is the case and that with the use of lateral thinking there are also a host of other new techniques that can be added to Point and Figure charts and analysis.In this advanced practical guide, du Plessis explains: how to use moving averages, Bollinger bands, Donchian channels and parabolic stop and reverse with Point and Figure charts; how time-based indicators such as overbought/oversold, RSI, directional movement and MACD can be used with Point and Figure charts; how column volume can be used to assess a column's strength and how volume at box level can be used to assess support and resistance areas; how traditional accumulation distribution lines, such as on-balance volume and volume-price trend, can be used to enhance the reading of the chart; how the analysis of relative strength and spreads can be enhanced using these new techniques; and, two new Point and Figure based market breadth indicators. Finally, he introduces a new Point and Figure based oscillator that can also be used on time-based charts. All topics are illustrated with numerous high-quality, full colour charts and observations from years of trading experience. The techniques described here open up a whole world of new and advanced analysis tools.You will see that there is more to Point and Figure than you ever imagined, and that it is more flexible than has ever been realised before. If you employ Point and Figure analysis, ensure you don't miss out on these powerful new techniques - be sure to bring your analysis into the 21st century.

This is a practical guide to the straightforward and winning strategies of successful traders. Trading is best kept simple and focused - that is the way to win. The most successful traders will tell you that they use only a small number of strategies, applying them time after time. A common mistake of losing traders, however, is to overly complicate what they do, using many different strategies at one time, or leading a never-ending search for new strategies. In 7 Simple Strategies of Highly Effective Traders, Alpesh Patel and Paresh Kiri provide a practical guide to seven technical analysis trading approaches that are simple, effective and easy to put into practice. These are the kind of strategies professional traders use to manage their trading. Throughout, readers will benefit from the trading insight and expert chart commentary of two vastly experienced traders. Included are strategies for breakout with volume, event trading, mean reversion, moving averages, short-term day trading, and more. The strategies can be used on a wide range of instruments, from equities to forex, bonds and commodities.Most of the approaches can also be used equally on UK, US or international markets.Don't waste money cycling through strategies, pursuing the Holy Grail - follow the winning approach of the pros and keep things simple.

This is a simple, quick and effective approach to quantitative fundamental analysis. The Lazy Fundamental Analyst presents a collection of strategies based on the application of quantitative analysis to fundamentals-based investing. It will appeal to anyone looking for simple, effective and low-risk investing strategies. The strategies are organised by ten business sectors: Consumer Discretionary, Consumer Staples, Energy, Financials, Health Care, Industrials, Information Technology, Materials, Telecommunication Service and Utilities. For each sector a strategy is proposed for large capitalisations (companies in the S&P 500 Index) and another is given for small capitalisations (companies in the Russell 2000 index). For each sector, and each strategy, Fred Piard explains how to follow his 'lazy' approach to choose stocks by using only a couple of financial ratios. The strategies eschew detailed due diligence of companies and markets - instead they rely on applying quantitative techniques to filter out the best investments in each sector.These strategies can be managed in just a few minutes per month, making them suitable for those who only have limited time to devote to investing but still wish to have a winning return. Portfolio protection through the use of market timing and hedging is also presented and this can be used with any of the strategies. If you don't have the inclination for in-depth fundamental analysis, or only have a few spare minutes per month for your investing, try Fred Piard's lazy approach to quantitative analysis.

Noted technical analyst John Person outlines a comprehensive method to pinpointing today's best trading opportunities

The economy and stock market are heavily influenced by seasonal factors. For example, a strong holiday buying season tends to be bullish for retail stocks or rising energy costs hurt airline profitability. Awareness of seasonal trends in both the economy and stock market can put you in a better position to profit from sectors and stocks that are likely to outperform the overall market. And technical tools can then be used to confirm emerging trends and time entries into these stocks and sectors.

"Mastering the Stock Market" provides authoritative insights into a method for trading stocks based on seasonal trends, sector analysis, and market timing. Taking a top-down approach, the book explains how seasonal supply/demand forces impact commodities and different sectors of the stock market. After learning how to identify stock market sectors and commodity ETFs that are ripe for a big move, you'll quickly discover how to use technical analysis to gauge the strength of the sector or commodity and then identify the strongest stocks and ETFs to trade. Along the way, you'll also learn how to use the author's own indicators, Persons Pivots, to identify support/resistance areas and pinpoint optimal entry and exit points.Outlines a proven technical approach for trading stocks based on seasonal trends, sector analysis, and market timingBreaks new ground in comparative relative strength, trading volume, breadth indicators, and utilizing pivot analysis in conjunction with options expiration days to identify trading opportunitiesWritten by noted technical analyst John L. Person

To successfully trade today's markets you need to use a proven approach and have the discipline to effectively implement it. "Mastering the Stock Market "has what you need to achieve these goals and capture consistent profits along the way.

No other book has ever provided this kind of vital information - the kind that traders need to win at spread betting. The authors have taken data from the daily trades of hundreds of traders over a five-year period - tens of thousands of trades. Then they analysed it. This analysis has allowed them to answer the following questions: Which clients win and lose? What are their characteristics?; Which markets are the easiest to make money on?; Which markets should retail investors avoid? Do investors make more money in volatile markets or quiet markets?; Which is more profitable: to go long or to go short?; Do short-term/day traders make more money than long-term traders?; What are the most common mistakes made by losing clients?; and, How much do the top spread betters actually make? Which trading systems work best?; Do technical analyst traders outperform fundamental analysis traders?; How long are the most profitable positions held?; What impact do dealing costs have on your ability to beat the market?; What rules do profitable traders use for setting trade size and stop losses?; What do winners do differently from losing spread betting traders?; What size accounts do the most profitable traders have?; How many spread betters win and how many lose?; Do losers become winners and winners become losers over time?; and, Do winners mimic what big winners like George Soros do? What does success look like? What puts someone in the top 10 of spread betters? What are they doing right? That is what this book teaches. The book is packed with hardcore insider data - taken from other traders and the authors' own trades - all carefully dissected to provide you with the answers you need to succeed. As insiders, the authors' aim is to show you how to beat the market. They now it can be done because they know the winners who do it. In this book, they show you how to do it.

This is an inspirational journey from footballer to trader. Goals To Gold tells the fascinating and unexpected story of one man's journey from top-flight football to the cut-and-thrust world of the financial markets. This book also explores the relationship between sports and trading success - making it the perfect book for any sports fan who's ever wondered whether they could make a go of it in the markets. Lee Sandford spent 17 years as a professional footballer, playing for Portsmouth, Stoke City, Sheffield United and Reading. But when his career was over, he didn't retire to a pundit's sofa or the golf course. He entered another fiercely competitive world: the stock market. Goals to Gold tells the story of his days as a footballer and subsequent time as a trader, laying bare the sobering facts of a life scattered with huge achievements, near misses and big disappointments. Part exploration of the unseen side of football and part introduction to financial trading, it shows how the important qualities in football and trading alike are hard work, determination, patience and sticking to your strategy even when the studs-up tackles are flying.Packed with real-life, behind-the-scenes stories involving promotion, relegation and trophies in football and trading through booms and busts in the markets, Goals to Gold is a gripping and revealing read - perfect for football fan and trader alike.

How do we know where we are in the current stock market cycle? Are we in the midst of a new long term bull market or a market rally within an ongoing bear market? The answers to the above questions are critical to forming an appropriate investment strategy to plan for the future. The difference between anticipating the end of a secular (or cyclical) bull market and reacting to the significant crash that follows will have a big impact on anyone's investment returns and retirement plans. This book is concerned with cycles. A cycle is a sequence of events that repeat over time. The outcome won't necessarily be the same each time, but the underlying characteristics are the same. A good example is the seasonal cycle. Each year we have spring, summer, autumn and winter, and after winter we have spring again. But the weather can, and does, vary a great deal from one year to another. And so it is with the stock market. Kerry Balenthiran has studied stock market data going back 100 years and discovered a regular 17.6 year stock market cycle consisting of increments of 2.2 years. He has also extrapolated the cycle forwards to provide investors with a market roadmap stretching out to 2053.He describes this in detail and outlines the changing character of the stock market through the different phases of the 17. 6 year stock market cycle. Whether you are an investment professional or private investor, this book provides a fascinating insight into the cyclical nature of the stock market and enables you to ensure that you have the right strategy for the prevailing stock market conditions.

The unputdownable insider's guide! Clem Chambers is one of the world's leading authorities on market performance. His website is hugely successful with investors in the UK and around the world, particularly in South America. In order to maintain his own business at the peak of its performance, Clem trades in stocks in his own personal account. "If I can't do it myself," he says with characteristic frankness, "then how am I supposed to help other people?" That he does so regularly and profitably demonstrates both his skill and his knowledge. Now he's prepared to share his secrets of stock market success. Writing with first-hand knowledge, he provides 101 pithy and personally researched tips which help day traders, investors and stock pickers of every kind to focus in on what characterises a potentially successful stock. Incisive, brutally honest and occasionally very funny, 101 Ways to Pick Stock Market Winners is an invaluable manual for anyone wanting to make money out of the markets.

The price-earnings ratio, or P/E, is the most commonly quoted investment statistic, but have you ever considered what it actually means? For most people it's a shorthand way of deciding how highly the market regards a company, with investors prepared to overpay for earnings from a high-P/E 'glamour' stock as opposed to a low-P/E 'value' stock. However, academics have known since 1960 that the opposite is true: value stocks outperform glamour stocks consistently over decades. A company with a low P/E may have been marked down for no readily apparent reason and thus could represent an attractive value investment for those with the patience to wait while the market re-values it. However, the P/E is a backward-looking measure and just because the company earned GBP1 per share last year it doesn't necessarily mean it will earn anything like that in the foreseeable future. Or, a low P/E can mean a company is deservedly cheap because it is in financial difficulty - in this case the company is likely to become cheaper yet or even go into administration. This book is a practical guide to how you can adjust and improve the price-earnings ratio and use it, alongside other financial ratios, to run against the crowd and boost your stock returns.

Master this powerful trading system and identify the best trades

Inside this book you will discover candlestick charting, one of the most popular tools in technical analysis. "Candlestick Charting Explained" features updated charts and analysis as well as new material on integrating Western charting analysis with Japanese candlestick analysis, grouping candlesticks into families, detecting and avoiding false signals, and more.

Kenneth A. Posner spent close to two decades as a Wall Street analyst, tracking the so-called "specialty finance" sector, which included controversial companies such as Countrywide, Fannie Mae, Freddie Mac, CIT, and MasterCard--many of which were caught in the subprime mortgage and capital markets crisis of 2007. While extreme volatility is nothing new in finance, the recent downturn caught many off guard, indicating that the traditional approach to decision making had let them down. Introducing a new framework for handling and evaluating extreme risk, Posner draws on years of experience to show how decision makers can best cope with the "Black Swans" of our time.

Posner's shrewd assessment combines the classic fundamental research approach of Benjamin Graham and David Dodd with more recent developments in cognitive science, computational theory, and quantitative finance. He outlines a probabilistic approach to decision making that involves forecasting across a range of scenarios, and he explains how to balance confidence, react accurately to fast-breaking information, overcome information overload, zero in on the critical issues, penetrate the information asymmetry shielding corporate executives, and integrate the power of human intuition with sophisticated analytics. Emphasizing the computational resources we already have at our disposal--our computers and our minds--Posner offers a new track to decision making for analysts, investors, traders, corporate executives, risk managers, regulators, policymakers, journalists, and anyone who faces a world of extreme volatility.

Nowhere in Europe are people more likely to enjoy a regular flutter in stocks and shares than in Britain. Whether we consider the millions of online stockbroking accounts or the billions spent on spread betting - it is a national pastime in today's Britain to play the markets. How did this distinctively British obsession with investment and speculation come about? Playing the Market tells this story by exploring the history of financial capitalism in Britain during the twentieth century from below. It explains how and why everyday British people increasingly invested, speculated, and gambled in stocks and shares from the outbreak of World War I, over the postwar decades and the Thatcher years, up until the premiership of Tony Blair. The study accounts for a momentous shift in attitudes towards stock market investment that occurred throughout the twentieth century. In the interwar period, traditional moral and cultural constraints about the stock market, which were still powerful in the Victorian period, gradually began to collapse in public and private life. In the following decades, financial securities lost their stigma of being either immoral or suitable only for the upper classes. Promising higher than average returns and a similar thrill of risk and reward as gambling in horses or the football pools, the stock market became a popular pastime for millions of Britons - even in the postwar decades, when Britain had nationalized industries and politicians of both parties indulged in staunchly anti-finance rhetoric. With the expansion of popular investment after both world wars, Britain developed a stock market culture that was unique across Europe and gave rise to a market populist sentiment that eventually proved fertile soil for the arrival of Thatcherism.

This book discusses the key areas that every stock market investor should consider. Starting with the reason for buying shares in the first place it then goes on to consider a host of essential topics, including: ratios, dividends, diversification, directors' deals, technical analysis, ETFs, commodities, dealing techniques and much more. Cotter On Investing is your straightforward guide to the not always straightforward world of stock market investment. The markets can be a dangerous place and the risk involved can put people off the whole concept of stock investing. It shouldn't. Successful investors are those who manage risk and use mechanisms that reduce it to a level they are comfortable with. The stock market is potentially extremely rewarding in financial terms, but when the investor takes control of his or her own money it can also be fun, interesting and immensely satisfying. Throughout the book the author gives his own opinions not only on the different investment vehicles you can use but also on the ways in which you can improve your performance as a self-directed investor. With nearly 40 years of stock market experience, John Cotter is the ideal guide to help you make your investment decisions. Slicing through the jargon and with a solid, 'keep it simple' approach, this book is the ideal companion for anyone building and running their own share portfolio.

Effective share portfolios for the private investor Running an efficient portfolio of shares means buying and selling the shares that make the most sense for you, and at the right time and price. Rodney Hobson, author of the bestselling Shares Made Simple, sets out how to do this without having to be a financial expert or full-time trader. Using plain language, he takes the reader simply and logically through the process, giving helpful examples and real-life case studies at every turn. In How to Build a Share Portfolio you can: - find out how to determine the right objectives for your portfolio - learn how to pick shares that fulfill your investment ambitions, and when to drop those that no longer do so - understand how best to set your portfolio's size and ensure it is diversified against risk - discover the best ways of monitoring your portfolio, and of reducing losses and rebalancing it when necessary. Anyone who is thinking of investing, however much or however little, will benefit from the information, advice and guidance contained in this book.Similarly, those who already have a portfolio will find it helps them to stand back and reassess whether they are making the most of their money and whether their portfolio is meeting their needs.

How I Made $2 million in the Stock Market is an extraordinary book. It tells one of the most unusual success stories in the history of the stock market. Darvas was not a stock market professional trading on inside information. He was one half of the highest paid dance team in show business, an expert cryptic crossword compiler, and a championship ping pong player. Yet he was able to make himself a millionaire several times over by his unique investment approach. Unlike other so-called systems, it worked regardless of whether the market rose or fell. When news of Darvas' fantastic profits and methods leaked out, he was featured in Time magazine. He then was persuaded to write a book which became an instant hit, selling nearly 200,000 copies in eight weeks. Many of the companies talked about in this book no longer exist. Many of the stocks are no longer traded. Nevertheless, the basic principles are as sound as ever.

Due to the accelerating demographic change of the population the reform of the existing pension systems constitutes one of the greatest political challenges in most European countries.

A theoretical discussion of different pension reforms must incorporate not only the demographic aspect but also the role of financial market risk and the impact on production and employment.

These notes develop a dynamic macroeconomic model which incorporates these aspects within a flexible theoretical framework. The proposed approach provides a large scale population model and features a sound description of the production side as well as of the financial side of the economy and their interactions with the pension system.

Within this framework various adjustment policies of the pension system are studied under different population scenarios. The consequences for the economy and the welfare of consumers are analyzed and compared.

Following on from the success of his first two books, 'The Financial Spread Betting Handbook' and 'Winning Spread Betting Strategies', Malcolm Pryor now provides the spread bettor with a detailed understanding of 7 key charting tools. Each tool has a role to play in the success of the spread bettor, and the tools can be used in combination to construct powerful trading strategies. This new book is written in a punchy and economical style, presenting much of its teaching through carefully chosen examples of charts. The focus is on practical technical analysis techniques which are directly relevant to spread bettors and traders.

This is the first book on developing and back-testing systems trading strategies to be used whilst spread betting. The book details the cycle of choosing instruments, designing strategies, back-testing and the real-time trading of those systems and includes many real-life examples. This book details an end-to-end approach covering all of the aspects required to implement and maintain a trading system. The focus of the text is the independent trader, providing them with the information they need to use readily available tools to develop and trade a professional system. The book starts by arguing the case for the use of trading systems and spread betting and moves on to look at the details of selecting instruments, choosing the most appropriate spread betting firm and the right trading software and platform. Ford looks at money & account management and black box systems then describes in detail the processes involved in the development of a strategy, including back-testing and optimisation. This book is a must-read for anyone looking to develop a systematic approach to their trading and take their spread betting to another level.

Small is beautiful - if you have an eye for an opportunity. While most big fund managers and private investors seek the apparent safety of the largest stocks, the best investment ideas can be found among nearly 2,000 smaller companies whose shares are quoted on the London Stock Exchange. This guide opens up a whole new world to investors, a world of solid companies that have found a profitable niche, ambitious start-ups with enormous growth potential and attractive takeover targets.However, the risks match the rewards and the unwary investors need to learn how to spot the pitfalls and which companies are small because they do not deserve to grow. The book is packed full of case studies demonstrating the successes, failures and potential of small companies. Each succinctly presents the lessons to be learnt from their experience. All investors looking to widen their portfolios will welcome this highly informative book covering an area of the stock market that is too often neglected by pundits, investors and the press.

As yet, single stock futures are still in their infancy, but they now represent the most exciting new product launch within the equity derivatives arena. They have a multiplicity of advantages for many traders and investors, being cheap, easy to understand, and a highly efficient use of capital to enhance investor opportunities.

Single Stock Futures is a practical, easy-to-read and comprehensive guide that will help traders and investors understand and utilise this innovative and exciting product.

"SSFs have been portrayed...as a new stage in the evolution of financial derivatives - which is certainly the case. But they could be more than that: they could radically alter the dynamics of equity investing...The possibilities are huge, but as yet only dimly perceived."

From Single Stock Futures - The Ultimate Derivative, written by David Lascelles for the Centre for the Study of Financial Innovation.

Many investors ignore company accounts because they think they are too difficult. But, as the great investor Peter Lynch said "Investing without looking at the numbers is like playing bridge without looking at the cards". The mission of this book is to explain to ordinary investors, with no accounting knowledge, what to look for in a set of accounts and how to interpret what you find - so that you have an accurate 'health check' on a company in ten simple steps. Robert Leach considers the entire subject from an investor's point of view, by asking - and then answering - the questions which matter most. He also looks at the techniques which companies sometimes use to flatter their accounts, and shows how accounts for companies in different sectors have to be looked at differently. The 10 Crunch questions: 1. Is the company growing? 2. Are costs under control? 3. Does it make a profit? 4. How much cash does it have? 5. Is its market value supported by assets? 6. Is it using debt wisely? 7. Are there any hidden nasties? 8. Is management good enough? 9. Can I expect a reliable income? 10. Are there any threats to my interests?

"An ambitious, intelligent, and very readable guide to understanding our present and our future."-Harry Beckwith, author of Selling the Invisible

No one can foretell the future. Or can they? There are many who purport to-and they are making a fortune. From meteorologists to investment advisers, prognosticating professionals are part of a multibillion-dollar industry. No longer merely fortunetellers, they are fortune sellers, offering us a commodity we're more than eager to buy: the future.

In this piercing and provocative exposé, business consultant and forecasting expert William Sherden casts an unblinking eye on the booming business of predicting the future, separating fact from fallacy to show us not only how best to use the forecasts we're given, but how to "select the nuggets of valuable future advice from amongst the $200 billion worth of mostly erroneous future predictions put forth each year."

Proven Methods for Stock Market SUCCESS

"Amy's book is a treasure trove of success stories you should read carefully - each of these investors share what could help you find the top 2% of great stocks."
--William J. O'Neil, Chairman & Founder of Investor's Business Daily and author of "How to Make Money in Stocks"

"All you need are one or two great stock in a year and you can achieve some outstanding results."
--David Ryan, three-time U.S. Investing Champion

Millions of investors around the world have used William O'Neil's bestseller "How to Make Money in Stocks" as their guide to profiting in the stock market.

Now, the most successful investors explain exactly how they have used O'Neil's CAN SLIM method to generate outsized returns. Packed with tips, strategies, lessons, and do's and don'ts, "How to Make Money in Stocks Success Stories" gives first-hand accounts explaining the ins and outs of applying CAN SLIM in real situations, in the real market.

Learn how one woman, with no financial background at all, used the CAN SLIM method to get back on her feet after losing her husband and then shortly after, losing her job; she now invests full time and travels the world. She and many other regular people who have made huge gains with O'Neil's investing method give their first-hand insights that can help anyone who reads this book.

"Anyone can become a successful investor," writes Amy Smith. "The success stories in this book will inspire you and show you how to find the market's biggest winners."

Whether you're just starting out or have been in the market for years, this hands-on companion to the classic stock investing guide gives you the keys to beating the market on a consistent basis.

Providing a hands-on approach to the most widely-used and effective option spread strategies, this title explains covered calls, collars, verticals, straddles, strangles and backspreads.