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How to Retire Rich Paperback – Dec 29 1998


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Product Details

  • Paperback: 288 pages
  • Publisher: Broadway; Reprint edition (Dec 29 1998)
  • Language: English
  • ISBN-10: 0767900731
  • ISBN-13: 978-0767900737
  • Product Dimensions: 21.2 x 14.1 x 2.1 cm
  • Shipping Weight: 249 g
  • Average Customer Review: 4.0 out of 5 stars  See all reviews (28 customer reviews)
  • Amazon Bestsellers Rank: #765,651 in Books (See Top 100 in Books)

Product Description

From Amazon

Some investment books claim only one true path to stock-market riches. Fund manager James O'Shaughnessy has five, and he has the data to back them up. He was the first independent researcher to be granted full access to a Standard & Poor's database containing computerized information on almost 10,000 stocks going back to 1951. From the data, O'Shaughnessy derived five portfolio-building strategies that, over the past 45 years, have consistently beaten the market average. How to Retire Rich also contains a wealth of useful information on mutual funds, online trading, and using the Internet to research stocks.

From Library Journal

The author, a statistical analyst and founder and president of O'Shaughnessy Capital Management, Inc., builds on his previous What Works on Wall Street (McGraw-Hill, 1996) to demonstrate how investing in the stock market can lead to wealth and security in one's later years: "The path to achieving investment success is in studying long-term results and finding a strategy or group of strategies that make sense." O'Shaughnessy offers strategies based on historical perspective that should beat the Standard & Poor 500 because they involve aggressive investing in not-so-well-known smaller companies. In addition to strategies, he covers good and bad points of mutual funds, making the most of 401k plans, market fluctuations, portfolio management, and a timely chapter on where to find information. This often-quoted author's opinions are presented in a readable style, with several family scenarios providing perspective.
-?Steven J. Mayover, Free Lib. of Philadelphia
Copyright 1998 Reed Business Information, Inc. --This text refers to the Hardcover edition.

Customer Reviews

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Most helpful customer reviews

1 of 1 people found the following review helpful By Adrian Boyle on Aug. 5 2003
Format: Paperback
In Edward Lear�fs satirical poem, �gThe Blind Men and the Elephant�h, a group of blind men who are completely unfamiliar with elephants happen upon one by chance. They try to describe its shape by standing around it and blindly groping one body part each-- one man feels the animal�fs leg, another the trunk, another the tusk, and so on. None of the men comes close to describing the complete elephant, and each man argues with the others over what an elephant really looks like.
I have been investing for nearly a decade, have read a couple dozen books on the subject, and have found the authors to be a lot like Lear�fs blind men. Each author manages to accurately describe one particular aspect of investing, or makes one or two good points, but no one gets the whole picture.
The lone exception is James O�fShaughnessy writing in _How to Retire Rich_. HTRR not only perfectly describes the entire elephant, it tells you how to ride it, and why you should be riding it. Unlike almost every other book on investing, the instructions are clear, simple and specific. There are no generalities such as �gBuy what you know�h. (This suggestion comes from authors such as Peter Lynch, and frankly I find it ridiculous-- if the reader of an investment book _knew_ anything, they wouldn�ft need the book.) O�fShaughnessy guides you step-by-step through his strategies (you can choose from among five), telling you exactly how to find the individual stocks to buy, how many to buy, and how long to hold them for. There is no fancy footwork involved. Working any of his strategies requires about 90 seconds�f worth of effort per year and a grade-school education.
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Format: Hardcover
In this book Mr. O'Shaughnessy takes four different (fictional) characters and shows them how to use his investing methods to beat the market based on his exhaustive study on what really beats the market. Basically this book takes his knowledge from What Works on Wall Street and makes up stories for these couples.
Mr. O'Shaughnessy thinks we should buy 50 stocks and rebalance those 50 stocks at the beginning of each year. In fact I am surprised that I haven't seen FolioFN giving away his books to their members since his methodology seems to be meant for those of us who have folios.
One of the major things that I didn't like about this book was in his descriptions of how these couples could retire rich he basically cut and paste each one and changed the ending result, in my opinion he made this book very boring and is a waste of paper. The only part of this book I liked was pages 139 and 140 these pages have various "doom and gloom" headlines from 1951-1997 and show that the market always has recovered.
Since now the strategies in this book are out in the public they probably won't even work right, so I would advise the majority of investors to put their money in an S&P 500 index fund since you'd be beating 80% of fund manages without having to do any research.
Reed Floren
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Format: Hardcover
Jim O'Shaughnessey founded the Cornerstone Growth mutual fund. Subsequently, it was sold to Hennessey Funds and is going strong under new manager Neil Hennessey. The fund is strictly managed according to the "reasonable runaway" formula set forth in the book. For 2001, it gained over 12%, beating the S&P by more than 24%. It is now up approximately 8% for 2002. Morningstar now rates the fund 5-star. (I have no connection with O'Shaughnessy or Hennessey other than investing with them.) It is also easy to run the formulas, and buy the stocks online yourself. It just makes sense--buying value stocks which have appreciated over the past year. Jim's research shows that these stocks will continue to appreciate. Value + momentum = profits. The formula predicts 17% average gains over time and in fact the strategy has earned about 16.9% over the last 5 years, with no significant help from the tech runup. Run the numbers for yourself--17% will make you rich pretty darn fast. Highly recommended reading, and unique among the stock market books I've read for actually making sense and working.
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By A Customer on March 2 2000
Format: Paperback
I first read this book about 2 years ago and decided to put the Rational Runaways strategy to the test. After about three months, most of the stocks were up and the portfolio as a whole was up about 15%. Then, one by one, the majority of the stocks faded, then crashed. After a year, I was down about 15%. I decided to combine O'Shaugnessy's strategy with William O'Neill's, plus the considerable information available from Technical Analysis of Stock Trends, by Edwards and Magee. I pick stocks that meet O'Shaugnessy's criteria, that are also in solid uptrends. I sell them when they begin to trend down. Half of my stocks have gone up, half down. I've sold the losers for an average loss of 10%, the winners for an average gain of 25%. My average holding time is 3 months. I've been doing a bit better than 30% per year, and these are not net stocks or dot.coms. These are companies with real and growing earnings, reasonable pe ratios and low ps ratios. It's easy to mistake a bull market for genius, but so far, I believe I've found a strategy that will do well in any market environment.
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