The Layman's Guide To Trading Stocks

by Dave Landry, Peterson Manz Trading

Dave Landry has delivered the definitive text on profiting in the financial markets. In this book, he debunks market myths, reveals market truths, and teaches you to think and act like a trader. Mr. Landry also identifies what it takes to level the playing field, and shows you how you can regularly earn money from the markets like a professional. This book offers a refreshing perspective and a new approach to Wall Street, whether you are entirely new to investing and trading or have been around the markets all your life. Everything you need to know to consistently profit in the market is covered in this comprehensive work. Learn how Wall Street really works and what it takes to succeed in one of the most savage market environments we have ever known.

172 pages, Hardcover

First published September 1, 2010

Reviews

[Roger Burk · Rating 1 out of 5]

The advice here is to treat stocks not as reflecting some underlying value, but purely as random quantities that vary over time, in other words as stochastic processes. Since I teach stochastic process modeling at the college level, I am in a good position to say that this advice is baloney. There is not a single statistical test in the book, and without a statistical test it's nothing but hunches. On average the people who follow the advice in this book will make money, because on average stocks go up. The problem is that there is a lot of variation around that average. Of 1000 people, maybe 510 make money, and brag about it. The other 490 lose money, and slink off quietly. A surer way to make money of this method is to write it up and sell it to unwary rubes. After all, there are 510 happy users out there bragging about how well it works!