Read more
List of contents
CONTENTS Forewordxi
Introductionxiii
Part I: Value Investing 1. Seeing Through the Hype3
2. Speculation Versus Investing6
3. Semi-Efficient Markets10
4. Torturing Data31
5. Baubles and Bubbles45
6. Intrinsic Value61
7. Investment Benchmarks79
8. The Conservation of Value111
9. We're Only Human124
Part II: Value Investing Applied 10. The Right Attitude147
11. KISS158
12. Timing the Market169
13. Picking Stocks176
14. Closed-End Funds 200
15. Special Opportunities214
16. Investing in Your Home241
Appendix to Chapter 16259
Afterword: Summing It Up263
References271
Index293
About the author
Gary Smith, Ph.D., is a professor of economics at Pomona College. His research has been featured in
The New York Times,
The Wall Street Journal,
Forbes,
Motley Fool,
Newsweek, and
BusinessWeek.
Summary
It’s time to put your money to work the smart way and stop chasing quick payoffs that never turn out. That seductive stock tip you just overheard? That’s your ticket to flushing your savings down the toilet. The story you saw on a promising new product? Only those who invested before the story came out have any chance of a solid payout. If you want to succeed in the market, you need to learn how to invest based on value, selecting stocks that will continue to enrich you for years to come.Money Machine looks at Wall Street wonders Warren Buffet, Benjamin Graham, and other legends and shares how you, too, can utilize their secrets to unimaginable success! By learning the keys to value investing, you will discover how to:• Judge a stock by the cash it generates• Determine the stock’s intrinsic value• Use key investment benchmarks such as price-earnings ratio and dividend-price ratio• Recognize stock market bubbles and profit from panics• Avoid psychological traps that can trip you up• And more!Investing in the market doesn’t have to be reckless speculation. Invest in value, not ventures, and find the financial success all those gamblers are still looking for!
