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Great Book - Cheesy Title
- Thread starter Babak
- Start date
Quote from late apex:
What Should I Do With My Life?
by Po Bronson
Not exactly an appealing title, to put it mildly. And, yeah, I know, that's not a trading book per se. But I feel it is highly relevant / hits home (and fun) for anyone who wants to succeed at trading for a living, coming from any other profession. It's about 55 people who've struggled to find their calling, their true nature -- who've made big career mistakes before getting it right, at any age. If that's not relevant / inspirational to perhaps 90%+ of would-be traders on ET or out there, I don't know what is.
[/B]
Maybe you (or I) should go and reread it. At least half of the interviewees were people who still haven't "got it right" or "found their calling" or "true nature".
In fact, the feeling I was left with after reading is that no one really knows what to do with their lives. Bronson himself says that that interviews didn't help him reach any firmer conclusions about what a person should do with his life.
The title is misleading, too. It would be better called "What Should I Do With My Career?", as that is the thrust of every interview. In this day and age, of course, "life" and "career" to tend to go hand in hand. Just how your "life" came to be so dominated as to be defined by what you do for a "career" would itself be an interesting story. Personally, I don't see it that way.
Same for Alan Farley on SI and Motley Fool (where we actually had a board devoted to his book and to which he contributed regularly for several months). Both of these guys, unlike so many "gurus", actually trade, but being famous, are still open game on public boards. I remember Alan pointing out to one idiot that he (Alan) had an entire 400 pg book out there that one could pick apart, crticize, trash, and ridicule, a gigantic target for easy cheapshots, while the idiot didn't even have one chart or analysis posted on the board. Kind of a one-sided fight, ain't it?Tony Oz actually used to post on this site but stopped when a few idiots started hassling him.
I'm not saying these guys shouldn't be challenged and debated, they should, and I'm sure they'd agree, but I wouldn't have put up w/the absurd bullshit I saw Farley take for even as long as he did.
And just to stay OnTopic:
"The Undeclared Secrets That Drive the Stock Market" by Tom Williams. Pure pv interpretation, bar-by-bar, Wyckoff-style. Great book, really cheesy title.
H
Quote from Kicking:
How I trade for a living by Gary Smith
many will disagree perhaps but it 's certainly one of the best book on trading and psychology out there and an entertaining read as well.
He posts regularly and is revered at
http://www.traders-talk.com
I highly recommend that book as well.
Quote from Kicking:
How I trade for a living by Gary Smith
many will disagree perhaps but it 's certainly one of the best book on trading and psychology out there and an entertaining read as well.
Here's a link to a post of his on 8/11/05 on traders-talk.
http://traders-talk.com/mb2/index.php?showtopic=39562&hl=
"Even though I am still a bull and believe Dow 11000 will be taken out this year, the markets don't care much about our opinions and recent price movement makes it difficult to be a blind bull. It always pays to question our trading convictions, positions and envision worst case scenarios and I do that throughout the day (and night for that matter) What bothers me the most is the breakdown recently in so many formerly strong sectors such as the homebuilders, REITs, Retailers, and large cap biotech, to name just a few. Also, the past two weeks have seen the second heaviest two week period for secondaries and IPOs ever according to Trimtabs. If this high level continues over the near term it could spell real trouble for stocks. As for today, I would be surprised if we trace out the exact pattern as yesterday and for the exact same reasons (oil) Meaning we should close near the highs.
The positives I see (besides my usual spiel on the world being awash in cash) are the fact that bulls are beginning to question this market, the recent improvements in the Rydex asset levels, the continuing low levels of specialist shorting vs. the public and the fact the major indexes are still hanging close to recent highs in spite of the oil spike. On that later point I will say though this reminds me a bit, but in reverse, of the end of April where I saw a lot of strong stocks in strong sectors eventually lead the major indexes up whereas now I worry that a lot of those stocks that are breaking down could lead those indexes down.
What I don't want is to get whipsawed by going too heavy to cash believing that every minor correction is the beginning of some new bear market. There have been very, very few times since the 3/03 bottom where I have found that a 100% cash position has been effective for me.
I presently hold five stocks, which of course could change at a moment's notice - GLW (Corning) TRID (Trident Microsystems) SNDK (Sandisk) CAT (Caterpillar) and Wiley&Sons (JW.A) and two funds - the Fairholme fund (FAIRX), and an emerging markets fund (LZOEX) The trading theme seems to be anything overseas more than domestic and plan to get more heavy there if price action cooperates.
Other than any responses to this post, I plan on being more of an observer of board sentiment here and a lurker through yearend"
Quote from Babak:
I wanted to start a thread to list great trading books which have cheesy titles and therefore may put people off. Its too bad that we do tend to judge books 'by their cover' because sometimes we miss real gems.
I'll start things off with my top 3:
"Secrets for Profiting in Bull+Bear Mkts"
by Stan Weinstein
"How to Take Money from Wall Street"
by Tony Oz
"How I made $2M in the Stock Mkt"
by Nicolas Darvas
I have not read the first two books, but the book of Nicolas Darvas is great. One of the best - maybe the best - ever written about stock trading.