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The Option Advisor: Wealth-Building Techniques Using Equity & Index Options Hardcover – Oct 24 1997


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Product Details

  • Hardcover: 336 pages
  • Publisher: Wiley (Oct. 24 1997)
  • Language: English
  • ISBN-10: 0471185396
  • ISBN-13: 978-0471185390
  • Product Dimensions: 16.3 x 2.8 x 23.6 cm
  • Shipping Weight: 703 g
  • Average Customer Review: 2.5 out of 5 stars  See all reviews (18 customer reviews)
  • Amazon Bestsellers Rank: #1,262,983 in Books (See Top 100 in Books)
  • See Complete Table of Contents

Product Description

From the Publisher

With over 15 years experience in option trading, one of the leading experts in the field offers his conservative, yet highly successful trading strategies. The text includes a thorough explanation of the basic options principles, important differences for trading options and stocks, money management techniques and trading rules.

From the Inside Flap

When nationally renowned options expert Bernie Schaeffer talks, everyone listens. A "Market Maven" on CNBC, a frequent guest on CNN, and a top-rated Timer Digest market timer for the past decade, he has also been a featured speaker at numerous investment conferences. His views on the stock market and the economy are regularly quoted in Wall Street Journal, the New York Times, Barron's, and Investor's Business Daily. Thousands of subscribers eagerly await each issue of his Option Advisor newsletter, and when he distills his decades of knowledge and experience--as he does in this remarkable book--saavy investors everywhere pay close attention. In The Option Advisor: Wealth-Building Strategies Using Equity and Index Options, Schaeffer offers his own carefully tested, prudent and profitable strategies for trading options. He begins by dispelling outdated folklore and beliefs about the options world, and reveals instead how options can be used as an inexpensive, leveraged vehicle for profiting from the movement in an equity. With clarity and logic, he explains the basic principles of options trading, emphasizing, in particular, why options cannot be traded like stocks--a very common and potentially very costly mistake.

Schaeffer delves into the psychology of options trading, demonstrating how to distinguish between "high" and "low" expectation stocks, how to measure sentiment, and how to master the valued Contrary Opinion Theory for successful trading. He shares his wealth-building techniques for selecting the right stocks, assessing risk, managing your options portfolio, and, most important, for reading market timing indicators. What The Option Advisor boils down to is expert guidance on managing your money, while avoiding the most common errors of options trading.

In a detailed section on applications, Schaeffer gives you practical, hands-on advice on how to use a full array of real-world trading strategies, including quick trades, aggressive trading strategies, conservative approaches, portfolio protection, and the increasingly popular Long-term Equity AnticiPation Securities (LEAPS). With characteristic thoroughness, Schaeffer also offers invaluable information on selecting an options broker, opening an options trading account, and doing research on the Internet.

From the novice to the experienced investor, The Option Advisor offers a gold mine of information on how to achieve success in options trading.


Inside This Book (Learn More)
First Sentence
The purpose of this chapter is to demonstrate why measuring investor expectations is so important for your success in determining the future price movement of the underlying stock; it therefore becomes a critical factor for your success as an options trader. Read the first page
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Front Cover | Copyright | Table of Contents | Excerpt | Index | Back Cover
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Customer Reviews

2.5 out of 5 stars
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Most helpful customer reviews

1 of 1 people found the following review helpful By A Customer on Jan. 5 2000
Format: Hardcover
I bought this book from Bernie's sales force. He has a high powered telephone telemarketing crew that look to sell you the world of promises and riches. Beware!
I bought a newsletter and lost money. I bought the book and found it wandering. This man has lost his way confused about whether he trades or sells his wares. If he is so good trading and market timing then why does he not manage money for a living?
The answer is simple can't trade then you sell your opinion and proclaim yourself a guru. Well I bought in as a sucker and am out a lot of money. I asked for a refund and am told it is non refundable. Convenient. I would give the book away but I don't want anyone to get caught like me. Firewood is an idea!
I have since found other books on the Amazon top 10 option bestseller list that hit the mark and taught me what I wanted to know.
Oh, Bernie above Wade. Well talk about scraping the barrel of comparisons.
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Format: Hardcover
I find it funny how many negative things I have been reading here and I have a few comments. First, this book is GREAT? In 4 months I made thousands of dollars by following Bernie's strategies. Second, he actually TEACHES how to do something with your money that isn't confusing, unlike many other money making strategy books. Third, he STRESSES over and over that you MUST CUT YOUR LOSSES when they hit 8% and let your winners run to overcome the deficit.
I wonder how many of these negative people that have posted angry messages here were too emotional and let their greed or fear get the better of them while making investment decisions attempting to follow Bernie's advice? I learned a long time ago that being negative and only talking about the problem and not a SOLUTION to the problem is NOT the way to live life.
Please read this book, and FOLLOW HIS RULES. It does actually work. And don't listen to Forbes, for crying out loud they have to hate anyone else that might actually compete with them and make them look bad. How many of you have made a dime off of what Forbes magazine taught you? I haven't. Read this book...it works, but ONLY if you work and FOLLOW THE RULES!
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Format: Hardcover
I did not read this book for the sole purpose of trading options. I became interested in reading this book only after learning about Bernie Schaeffer and his impressive winning record on wall street and seeing him on CNBC.
This book will serve every stock and options trader well. However, this book is made complete by the chapters in the first section where he thoroughly explains contrarianism, expectational analysis, selecting the right stock, sentiment indicators, and market timing indicators. These chapters alone are pact with valuable information and have greatly improved my stock trading performace.
This book is suitable for the beginner and advanced trader. The easy-reading style together with the many useful subjects makes it easy to passover important points. Don't be fulled by the simplistic style. Considering the many topics, the author manages to thoroughly cover each without losing the reader.
Even with the many books that I have on trading and technical/trend analysis, this is the one that I reference the most.
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By A Customer on Feb. 4 1998
Format: Hardcover
This book surprised me because it was much better than I expected. It presents a very readable--the most readable I've seen--summary of the mechanics and strategies of option trading. Moreover, the book covers topics I've never seen covered before in a book on options, such as the benefits of using information from established sources on the Internet; and cites several academic studies without slipping into the stale writing style associated with academe. Still, there is reason for a reader to be skeptical of the effectiveness of the strategies discussed in the book. The reason for this is the long-term performance record of the author's newsletter, which like the book is entitled "The Option Advi$or." According to Mark Hulbert's ratings, which have been regarded in some circles as the most accurate standards for measuring the quality of investment newsletters, this newsletter's long-term record ranks near the bottom of all letters covered. Only Joseph Granville's "Market Letter," as far as I remember, has a worse ten-year record. That said, one has to wonder whether the strategies discussed in the book are going to be effective in the future. On one hand, past performance does not necessarily portend future results. On the other, however, Schaeffer's picks in the past, assuming they've been chosen according to the strategies discussed in the book, have been less than outstanding in the past. Careful readers should remember that if they want to use this book more than as a decent general reference guide.
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Format: Hardcover
In this weeks issue of Forbes Bernie and by default his theory is ranked 60 out of 65 for his trading and newsletter Option Advisor.
Over the course of ten years ranked as a high risk trader you would have lost 10% of your money following Bernie's ideas. In fact he got the lowest grade of D.
The book follows the same vein. Nothing new and simple trying to make more money from people that believe he knows something.
Give the book, Bernie and his company a miss.
Forbes says so. My experience is the same. Beware his telemarkers too.
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