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Ships from and sold by Amazon. Where Are the Customers' Yachts?: Customers who bought this item also bought. Page 1 of 1 Start over Page 1 of 1. Mastering the Market Cycle: Getting the Odds on Your Side. Reminiscences of a Stock Operator. From the Back Cover "Adam Smith continues to dazzle and sparkle! Wien, coauthor of Soros on Soros Chief InvestmentStrategist, Pequot Capital Management Supermoney may be even more relevant today than when it wasfirst published nearly twenty-five years ago.
Wiley May 26, Language: Don't have a Kindle? Try the Kindle edition and experience these great reading features: Share your thoughts with other customers. Write a customer review. Showing of 10 reviews.
Top Reviews Most recent Top Reviews. There was a problem filtering reviews right now. Please try again later. Adam Smith, who is really George Goodman, wrote this as a follow-up to the best-selling The Money Game which were his first and second non-fiction books. The Money Game was a number one bestseller for over a year. If you have worked in the financial industry or love stock market history you will probably eat this up. If your interest in finance is on the practical side then you can safely give this a pass.
It reads like Warren Buffett who is frequently mentioned is talking to you. I couldn't put it down. It is very hard to describe because it is a series of conversations, choices, and confrontations to the reader. We are eavesdropping on ideas about investing, Swiss bank accounts, money management, politics and much more. The book is not linear at all.
It does explain and show the concept of "Super Money" which is really leveraged money very well. That idea is not nearly as transformational now as it was in the 's but here it is well-explained in a very compelling narrative. The more familiar you are with the behind the scenes world of finance the more you will appreciate the profound insights of the author. The wisdom of the message makes this book an absolute classic.
A can of soup washes ashore. The physicist says, 'Let's smash the can open with a rock. I got this book because having heard it is a classic but I never made it past the first chapter because the writing is this old style and it's really boring to the core.
I forget whose list recommended it, but suspect it was more than one. So I'm now guilty for not giving credit to the site and peerson s who turned me onto the book, as I thoroughly enjoyed it. Published 41 years ago , I was surprised by how much the investment world today is similar to the one described.
In the US equity indexes were not doing well after the market boom of early-and mids. It was not until that a sustained bull market started. The book highlights deals gone bad, investment managers overpaying for growth, and the rejection of hedge funds and finance as a career by university graduates. Despite the plethora of investment books, academic papers, investor newsletters, magazine articles, and blogs that highlight the fallacy of accounting; market booms and busts, under and overvaluation of asset prices, financial crisis, etc.
I found Supermoney to be relevant to Asia today. This is because the equity markets and ownership pattern in my part of the world seem to be very similar his description of America years ago. I live in Hong Kong.
Below are some observations linked to quotations from the book. I've added comments and examples More regulation after a downturn "The involvement of Congress in passing the Securities Investor Protection Act means a continuing involvement of Congress; the government rarely leaves any endeavor where it has created additional staff". Currency debauchery is the sole source of US decline and decadence - just as it has been in every society of recorded history. Some kept the stepladder right up to the day they filed for bankruptcy.
I suppose the answer lies in the fact that if your living depends on playing poker, you can easily develop a poker face. My profession appears to regard a set of financial statements as a roulette while to the public investor - and it is his tough luck if he doesn't understand the risks that we inject into accounting reports.
I continue to hear about accounting frauds and accountants on the take in Mainland China. Hedge Funds Attracting the Greedy Quoting a former dean of Harvard Business School admissions,"'Last year,' I said,' my classes all wanted to go right to work for a hedge fund.
You couldn't even offer them twenty thousand a year, because they were going to run five million into ten in a year and take twenty percent of the gain. I used to say, 'Good morning, greedy little bastards.
I've added comments and examples More regulation after a downturn "The involvement of Congress in passing the Securities Investor Protection Act means a continuing involvement of Congress; the government rarely leaves any endeavor where it has created additional staff". Page 1 of 1 Start over Page 1 of 1. The average punter likes to have stocks rather than mutual funds so as he can watch the stock prices. In the US equity indexes were not doing well after the market boom of early-and mids. Goodreads helps you keep track of books you want to read. Bob rated it it was ok Jul 25,
I specially loved listening to the common-sense in the back of McNamara and Bro? For these participants seeking to reduce during the large quantity of negative info available in the market, i believe you are going to completely relish this booklet. Secure -haven investments are awarded to the teenager reader stressing the optimistic rewards and draw back hazards.
Hands-on instruments to spot and make the most of the market's fresh styles buying and selling is all approximately handling possibilities. In buying and selling with the percentages, Anthony Trongone explains that the hunt for constructing an ideal method, which drives such a lot investors, is fruitless.
Supercurrency is capitalized income, not sheltered income, and in a moment this chapter will explain it. But since much of the publicity is about reducing taxes on income, let us get that out of the way first. Congress, and Congress writes the tax laws. When the Congress wants to encourage something, it writes a favorable tax law. Though a repetition of these events is not likely, at least for a while, there is nothing to say that they could not happen again. The first of the two moments when the structure swayed perilously is the weekend the United States almost ran out of money.