Will you buy timmay's hedge fund book?

[Darkside]

Quote from SiSePuede!:

You should ask Tim if it's meant to teach...according to him it is. Maybe not how to trade step by step, but apparently it's meant to teach. Would you buy a diet book written by a fat fuck? I wouldn't buy a trading book written by a guy who has barely turned a profit for the last 4 years.

Yep SiSiPuede is right- jtnet and naivewonder, if you were to perhaps read the thread insetad of just letting the ignorance spew forth, you would see that Timm(g)ay himself states that the book is to teach. Go ahead, take a look- I'll wait.

 

[marketsurfer]

Quote from SiSePuede!:



I just love how the guy who says $50k swings don't phase him anymore was bragging about a $35k book advance offer like it

its not the amount of the advance in dollars, its the amount of the advance in comparision to other books of this type that's impressive. it's a MONSTER advance offer for a trading related book.

surf

 

[El OchoCinco]

But remember it is an advance. Wiley will not pay the author more until enough books are sold to cover the $35k advance since it is an advance on royalties. $35k probably would mean you need to sell about 12,000 books based on my estimates.

 

[SiSePuede!]

Quote from marketsurfer:

its not the amount of the advance in dollars, its the amount of the advance in comparision to other books of this type that's impressive. it's a MONSTER advance offer for a trading related book.

surf

I don't give a fuck about the advance compared to other books. My point is that the douche bag you love, tim, has been so blase about $50k swings and is instead touting a $35k advance offer which is like a drop in the bucket compared to what he'd be making if he had any skill on that few million he had before his investors with half a brain pulled their money.

How many books do you think Wiley would have had to sell in order to cover the supposed advance offered? 5,000 books? That's like a fart to them to sell a stupid pop-book. That's being generous.

Are you related to stock_turder?

 

[SiSePuede!]

Quote from optioncoach:

But remember it is an advance. Wiley will not pay the author more until enough books are sold to cover the $35k advance since it is an advance on royalties. $35k probably would mean you need to sell about 12,000 books based on my estimates.

Where do you get the 12,000 book number? They'd sell this as a pop book, not a trading book don't you think?

What kind of profit are you working with on a $20 book if that were to be the price?

 

[El OchoCinco]

This was off of Market's post if he went with Wiley and got the $35k advance. I was doing this off the top of my head so lets walk through the numbers. Wiley hardcover trading books run for a pretty penny at full retail (that is why I use Amazon) but it is the wholesale price that matters.

Avg royalty is about 15% of wholesale price of hardcover book at Wiley. Assume a 300 page hardcover book like his will wholesale for maybe $35 at low end. Royalty is $5.25 per book.

So the number is actually closer to 6,700 books need to be sold before you collect any more royalties. Sorry was doing this off the top of my head.

Authors and Musicians get screwed on royalties unless they get a big upfront payment or sell a ton of books/records.

That is why ol Tim is self-publishing, Costs way less than $35 to publish a book and you keep all the profits. Just run the risk of having a garage of 5000 books which you start giving as Hanukkah gifts to everyone you know.

 

[SiSePuede!]

Quote from optioncoach:

This was off of Market's post if he went with Wiley and got the $35k advance. I was doing this off the top of my head so lets walk through the numbers. Wiley hardcover trading books run for a pretty penny at full retail (that is why I use Amazon) but it is the wholesale price that matters.

Avg royalty is about 15% of wholesale price of hardcover book at Wiley. Assume a 300 page hardcover book like his will wholesale for maybe $35 at low end. Royalty is $5.25 per book.

So the number is actually closer to 6,700 books need to be sold before you collect any more royalties. Sorry was doing this off the top of my head.

Oh, I was considering not royalties but Wiley's risk in giving away a $35k advance. I figure they make maybe $7/copy on a $20 paperback(I can't imagine this book is worth a hardback no matter if it's good or shit since it's just a pop book) and that would be about 5,000 copies to cover the supposed advance. I would imagine they wouldn't put anything into advertising and would probably add other stipulations that we'll never know about.

We were working on different factors I think.

Cheers.

P.S. Authors and musicians do get screwed as per the standard contracts. Why do you think big bands are touring still? That's where they make their money, once they pay for the tour of course!

 

[El OchoCinco]

Quote from SiSePuede!:

Oh, I was considering not royalties but Wiley's risk in giving away a $35k advance. I figure they make maybe $7/copy on a $20 paperback(I can't imagine this book is worth a hardback no matter if it's good or shit since it's just a pop book) and that would be about 5,000 copies to cover the supposed advance. I would imagine they wouldn't put anything into advertising and would probably add other stipulations that we'll never know about.

We were working on different factors I think.

Cheers.

Wiley likes to push the hardcovers for this genre so I was assuming it would be hardcover. I know this is moot now, but assuming they did a hardcover I dont know their profit. My limited knowledge would put this at $35/$40 wholesale price and they keep 85% of that but not sure what their costs are. They publish tons of books each year and some hit and some miss so their winners cover the duds over the long run.

And no Wiley spends little or no money on advertising. I was told authors have to do all their own promotions, all Wiley does is send the book out to booksellers and a few industry people hoping for reviews which never come since they get 50 books a week.

Don't forget that Wiley keeps books printing for years. Alexnader Elder's book was sort of a dud the first year or two but now look at it. meaning that they would have to sell x thousands of books for any author but if a book is decent given a few years they recoup their costs.

Only smart thing Tim has done is self-publish but I would not be surprised if in a few years Tim is giving everyone in his family and all his friends a book for Hanukah and X-mas since books like these lose their luster real fast. Cramers books for example are already losing their pull and are already in bargain bins, that is why he writes another one and another one lol.

 

[El OchoCinco]

Quote from SiSePuede!:



P.S. Authors and musicians do get screwed as per the standard contracts. Why do you think big bands are touring still? That's where they make their money, once they pay for the tour of course!

Yeah sponsored tours is where they make millions. figures of recent world tours for some big names was way up there. they make money off the record if they can get huge sales. Obviously if it sells over million copies the artist makes some change which is blown on Bentleys and hoes.

 

[SiSePuede!]

Quote from optioncoach:

Wiley likes to push the hardcovers for this genre so I was assuming it would be hardcover. I know this is moot now, but assuming they did a hardcover I dont know their profit. My limited knowledge would put this at $35/$40 wholesale price and they keep 85% of that but not sure what their costs are. They publish tons of books each year and some hit and some miss so their winners cover the duds over the long run.

And no Wiley spends little or no money on advertising. I was told authors have to do all their own promotions, all Wiley does is send the book out to booksellers and a few industry people hoping for reviews which never come since they get 50 books a week.

Don't forget that Wiley keeps books printing for years. Alexnader Elder's book was sort of a dud the first year or two but now look at it. meaning that they would have to sell x thousands of books for any author but if a book is decent given a few years they recoup their costs.

Only smart thing Tim has done is self-publish but I would not be surprised if in a few years Tim is giving everyone in his family and all his friends a book for Hanukah and X-mas since books like these lose their luster real fast. Cramers books for example are already losing their pull and are already in bargain bins, that is why he writes another one and another one lol.

I don't know enough about the book industry...I assumed this would be a paperback as I don't think most people, sane or not, would pay $35 to read about a guy who made money 5 years ago and hasn't made any since. I could be wrong.

Anyway, it's moot now because tim wants to exploit market inefficiencies or some other bullshit he was going on about.

Cheers and stay away from groupie bitches, they're the ones that cost.