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Customer Review
Reviewed in the United States on April 10, 2009
This book could be informative to those who are frequent traders (or day traders) but not for those who generally believe in a 'buy and hold' long term strategy like me.
Even if you are a frequent trader, you should probably take this book with a grain of salt. Read what the author has to say and use your own knowledge and experience to disregard the things stated that you don't believe are true.
This book is what I like to call a 'but but' book. The author spends a lot of time challenging the norms that those in the know hold true about investing techniques in exchange for selling the author's own way of investing as the only way to go. This is not the only way to invest and in fact, could prove dangerous to someone not willing to take certain risks or follow the market daily.
I also did not like how in one example, the author denigrates Warren Buffet as if the author knows more than him or is somehow more trustworthy. Fact is, Warren Buffet is the richest man in the country and the author is no where near that. Yet, he would prefer I pay attention to his own fundamentals over someone like Warren Buffets? Why? Well, this book tries to explain why by essentially having me throw out the window tried and true (and proven) investing fundamentals, but it didn't win me over.
If you like to study the technical aspects of investing, you will likely benefit from this book and at least gain an understanding the point of view it poses. I guess I would have preferred a more balanced viewpoint. The bottom line is that trend following is just one way of investing that can indeed work for some, but it flies in the face of proven fundamentals that do work for most.
Even if you are a frequent trader, you should probably take this book with a grain of salt. Read what the author has to say and use your own knowledge and experience to disregard the things stated that you don't believe are true.
This book is what I like to call a 'but but' book. The author spends a lot of time challenging the norms that those in the know hold true about investing techniques in exchange for selling the author's own way of investing as the only way to go. This is not the only way to invest and in fact, could prove dangerous to someone not willing to take certain risks or follow the market daily.
I also did not like how in one example, the author denigrates Warren Buffet as if the author knows more than him or is somehow more trustworthy. Fact is, Warren Buffet is the richest man in the country and the author is no where near that. Yet, he would prefer I pay attention to his own fundamentals over someone like Warren Buffets? Why? Well, this book tries to explain why by essentially having me throw out the window tried and true (and proven) investing fundamentals, but it didn't win me over.
If you like to study the technical aspects of investing, you will likely benefit from this book and at least gain an understanding the point of view it poses. I guess I would have preferred a more balanced viewpoint. The bottom line is that trend following is just one way of investing that can indeed work for some, but it flies in the face of proven fundamentals that do work for most.
