Stan Weinstein - Secret for profiting in Bull and Bear Market

Benjamin Graham - The intelligent Investor

Kenneth R. Trester - The Complete Option Player

Any other recommendation for my next book?

Santana -

Have you had a chance to read Weinstein's book yet?

His simple principles changed my life since reading it in the mid-80's (don't fight the tape, buy stage two, short stage four, always carry a protective stop loss order)

Am curious if you found the basics outlined in his book to be effective / workable for you too

Rajun

rajuncajun0,

I read his book about 10 years ago but not the whole thing, and then when the nasdaq crashed in 2000, someone recommended me Benjamin Graham - The intelligent Investor and I think Benjamin is a pure fundamentalist. Now I am in between. That's bad.

Looking at your portfolio, it looks like I am going to re-read Stan Weinstein's, and put aside Benjamin technic for a while.

Hi guys, I'm a noob to this stock picking business. I was just wondering what books would you guys recommend to someone who understands the basics of both technical and fundamental analysis (or at least what you can learn about tech and fund from investopedia), and what are your general opinions about these two different methods of analysis? (And just in general, what criteria do you use to decide what stocks to buy vs. what stocks not to buy)

Hi sterpka

I am currently reading the Stan Weinstein's book all over again, after Rajuncajun0 proved me that I was wrong by combining both technical and fundamental.

I and Rajun will recommend you Stan Weinstein's Profiting in Bull and Bear Markets. It is a technical book.

If you really want to go with the fundamental, then I would suggest you to read Benjamin Graham - The intelligent Investor.

Rajun is mastering Stan's method very well, so I would leave your question to him :)

Rajuncajun0, if you don't mind...

Good luck.

sterpka -

As you can tell from my profile and comments on this site my approach is solely technical, fully borrowed from Stan Weinstein.

Please pardon the following testimonial / infommercial, but it is sincere:

Weinstein's book "is the one to get" to start your learning process with. At 1st read, some of the principles in Stan's book may not stick or appear meaningful - but, with experience, you will learn how important they are. Don't let the cheesey / dated cover photo on the book fool you - the basics Stan put in his book back in 1988 are just as relevant today. I am a CPA by trade, and given that bent, started investing from a purely fundamental approach. Through much study and experience, Weinstein's method has proven the most effective of any approach I've used.

You won't go wrong by starting, and ending, your studies with Weinstein.

The basic rule is Buy Stage 1, Sell (Short) Stage 4. Some of the basics re: these stages and when to Buy stocks / Sell stocks, and excerpts from Stan's book, can be seen at these websites:

http://www.sierrainvestor.com/content/stan_weinstein.html

http://wallstreetwindow.com/weinstein.htm?gclid=CLnw79uI-ogCFQi8YAodDAlkqw

http://www.tradingday.com/c/tatuto/tradingwithstageanalysis.html


Get the book, and read it


Good Luck!

Rajun

Cool, thanks guys! I'll get a copy tomorrow.

So have both of you had a better experince with technical rather than fundametnal alone or fund and tech combined? From investopedia I got the impression that a mixture of tech and fund was both the most secure and profitable strategy for stock picking.

sterpka

This is from Stan Weinstein's page 4, "Lesson number one is consistency! For over 25 years, I have been consistent in my approach and dicipline. This is so very important. Don't be a fundamentalist one week and a technician the next! And don't follow indicator A one month and switch to indicator B the next. Find a good method, be diciplined, and stick with it. If it doesn't regulary beat the market, then get a new method. But be absolutely diciplined and don't ever abandon a successful method because you think this time things are different."

I am not a guru, but I believe in Stan Weinstein's method. The more I pick stock here at Wikinancial, the more I learn how things work.

More from Rajuncajun0 if he gets time to share his 20 years of experiences.

sterpka -

Buy the book from amazon.com and for an extra $1.99 you can read it until it arrives, or anytime in the future, on the internet

I fat-fingered my comment above - that's "Buy stage 2 ... "

As to your question: tech vs fund, tech + fund, etc. - give both a shot by testing the different approaches here on Wikinancial - find for yourself which approach works best for YOU. What's great about this site is the ability to try-out different approaches - not real $, but realistic simulation. The most clever thing about Wikinancial is you're limited to $10K per stock and to expand your portfolio you need to pick another stock - this emphasizes consistent stock picking / market timing skills - exactly what's needed to assess the effectiveness of different stock picking / market timing methods.

Good luck in your pursuit of profits !

Rajun

I finnaly picked up a copy of the book. I've read through the first few chapters, and I like it. He's very thorough and his method makes sense.

I also picked up the book - "A Random Walk Down Wall Street" have either of you had any experince with it?