Top critical review
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What a HUGE contradiction. A slap in the face.
on April 15, 2004
There is a theme of claims made in this book that makes absolutely zero sense and is a complete contradiction. One of the pillars of the book seems to be that people who work in the stock trading field, and who are experts at analyzing companies and have 10+ years experience in the market and who are referred to as gurus, do not know what they are doing and are often wrong. The book then goes about trying to convince the reader who has little to no experience that through using the same data analysis techniques that "the guru's" use, you can somehow do better than they have.
I am not talking about the grand-poobahs that are presented in the book as gods, such as Peter Lynch, Warren Buffett, etc. I am talking about the example after example after example the book gives of people who are phenominally experienced, massively overeducated, and constantly make huge mistakes in telling investors what to do as though they are throwing darts blindfolded at the stock list to provide investors a list of companies to invest in.
It's like the author has written a book on how to fix your car, then in the same breath trying to convince you that master mechanics are often wrong in diagnosing the problems with your car and you (joe schmow) can do a better job fixing your car than a master mechanic.
The only real difference between yourself and the common expert using the same techniques will be intuition, and sorry folks, but no one can teach intuition.
You can buy this book for light terminology coverage and the simple mechanics of how things work, but I cannot imagine any book by any human that will teach you how to make money in the stock market. If all it took was simple number crunching to pick good companies to invest in, then a mindless computer could make each of us millionaires and pick the companies for us. No more gurus, no more tedious analysis. The ONLY true method to get rich in stocks is intuition or psychic ability, and many to most of us don't have it.
I'd like to thank all investment book writers for ... well... nothing.