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TradeStream Your Way to Profits: Building a Killer Portfolio in the Age of Social Media Hardcover – Jun 21 2010
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From the Inside Flap
There's no doubt that the emergence of social media has taken over the Internet landscape. The remarkable growth of Facebook and Twitter has forced everyone, including investors, to take notice—and provided an unprecedented level of access to some of the world's most talented investors and resources in the process.
While this phenomenon has taken the world by storm, a majority of investors are still unaware of what it takes to build a profitable portfolio in the age of social media. That's why author Zack Miller has created TradeStream Your Way to Profits. Miller embodies the nexus between asset management, equity research, and new Internet distribution technologies. As an asset manager, he writes extensively about the changes and opportunities in online finance for investors, advisors, and investor relations professionals—and now, with his new book, he'll show you how these changes have allowed savvy investors to make the most of their time in today's dynamic markets.
TradeStream Your Way to Profits skillfully outlines a new way to look at investing that utilizes the Internet and social media to better research and mimic successful investing strategies. Chapter by chapter, Miller analyzes how social media enables investors to profit via eight different types of investment approaches, from cloning top hedge fund managers' stock picks to identifying and piggybacking the next Warren Buffett. Along the way, he explains each strategy in detail—why it works, its historical performance, and how to implement it—and reveals how to use different tactics to exploit the power of social media.
While some of the strategies discussed have been studied closely, others are so new that they're just beginning to be researched. Regardless, all have been inspired by the transparency that the Internet provides and most can be implemented via free websites.
The Internet has created totally new models and methods for researching and making investments. TradeStream Your Way to Profits explores these changes and explains the many ways you can financially benefit from them.
Don't forget to visit www.tradestreaming.com, a website created specifically for the readers of this book, free of charge, to expound on some of the concepts found here.
From the Back Cover
Praise for Tradestream Your Way To Profits
"Finally all investors have the tools available to beat the pros. Zack Miller describes these tools perfectly. This book turns the investing game upside down and gives the power back to the small investor."
—James Altucher, Columnist, Dow Jones; Asset Manager
"Zack Miller is an excellent source when it comes to using new online tools to vet investment ideas. His first book is a broad survey of emerging investment strategies that take advantage of the wide array of financial tools and content that you can find online—from blogs to Twitter. There's a lot of noise out in the TradeStream, but this book helps you cut through that to find the truly useful information."
—Michelle Leder, founder of footnoted.org, a Morningstar Company
While you can gain instant access to information on any given stock with the click of a mouse, the truth is that sorting through all that data—and building a profitable portfolio from it—can be both time-consuming and difficult.
But by blending resourceful use of the Internet with social media such as Twitter and Facebook, you can quickly learn how to mimic some of today's most successful investment approaches and use them to achieve outsized returns. That's what TradeStream Your Way to Profits is all about, and with author Zack Miller's guidance, you'll gain a firm understanding of how this approach can be incorporated into your everyday investment endeavors.
Written with the serious investor in mind, thisreliable resource will show you how to:
Invest for the long term utilizing streaming information, guru tips, and many other tools found in the world of financial social media
Glean tips from experts in this growing field
Use new tools to sort through the mounds of data currently available and make sense of it all
And much moreSee all Product Description
Inside This Book(Learn More)
Most Helpful Customer Reviews on Amazon.com (beta)
I didn't give the book five stars because for me, Miller's book would be more helpful if he provided a stronger and more explicit overall framework for how to use the tools, particularly with some sensitivity toward different investor objectives, risk profiles and levels of attentiveness (a framework exists in pieces throughout the book but could be better pulled together in an introductory or concluding chapter). In addition, his evaluation of the effectiveness of the different resources could be more consistently rigorous (e.g., adjusting for beta, comparing to standard indices) rather than merely citing different studies which all use their own standards. Lastly, the book's credibility would benefit from more objectivity (for example he repeatedly promotes Seeking Alpha, where he once worked and may still have an ownership interest) -- that may well be a matter of editing rather than actual judgement, but nonetheless it undermines the reading experience.
That said, this is a great place for new or confused online investors who want to know where to look for different kinds of help. If you are investing any amount of money online, your best return all year might come from buying "Tradestream."
I would recommend this book very highly both to investment professionals who want to become aware of the cutting edge of our industry, as well as to private investors who seek to take control of their own investment decisions with confidence, knowing that the Tradestreaming methods described in this book can offer them best investment guidance available in the world today, regardless of the size of their portfolio and without abusive fees.
Any reader of this book should have the book in one hand, and an internet access in the other, as the author mentions so many interesting and intriguing websites with such a convincing eagerness to share with the reader that it is impossible to resist the urge to enter these websites and explore for yourself.
This is a book that many investment professionals wish that they had written. It is a seminal work which will no doubt be recognized as such in the coming years, and indeed by be ¨ahead of is time¨. I encourage investors to read this book, as it pays an investment return to the reader many times that of its purchase price.
This is one of the few new investment books that any serious investor or marketer of financial services truly, truly must read, likely to become the definitive guide to using financial social media to improve investment performance.
All serious investors or trader realize that they need guidance, and that there is a lot of great advice on the internet, much of it for little or no cost.
Few would dispute that they'd be more profitable following the moves of proven experts.
The trick is to sift through the vast online universe to locate the best sources.
The idea is simple enough, but it took someone with deep expertise in online media, financial planning, and fund management to distill the best the Internet has to offer.
The book provides an overview of how changes in the internet, financial research, social media and online content have given us unprecedented access to some the best investment advice. It then examines 8 different strategies for using online investing resources and provides practical advice for how to implement these 8 approaches, which are:
Expert Bloggers: How to access the best blogs for new ideas
Imitate Proven Stars: How to build a portfolio made of the top picks of the your chosen gurus.
Join Expert Communities: How to locate and use online communities to identify and monitor professional or amateur experts.
* Online Resources For Monitoring Crowd Sentiment.
* Screening 2.0: How to create screens suing the same parameters as the pros.
* Tracking Insider Moves
* Tracking Rumors
* Non-Financial Online Resources
The summary chapter's look at how the Internet is changing the financial services industry is a must read for those interested or working in the field.
As an analyst who covers forex, commodities and bonds in addition to equities at [...], only wish that there wasn't such a heavy concentration on resources for the equities markets, though the focus is understandable given that stocks have a much more established online presence.
However, the ecosystem of online resources for these other markets is growing.
Can we look forward to a follow up volume covering these markets?
As a critique, Tradestreaming, like much of the retail community, heavily focuses on idea generation. Is this because idea gen is what going on in the 'developer' (ie, entrepreneurial) community, or because professionals like Miller gravitate there, since they've already discovered their trading style and mastered risk/trade management? It would be interesting to know more about how the Net is changing investment education.
This is not to detract from a fine effort. I expect to share Ttradestreaming to colleagues.
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