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this book is a much more refined version compared to his fist book, studies in tape reading. in it one can find many valuable advice. in particular:
(1) his refined trading/ investing technique ( i.e. from minor swing to intermediate swing)
(2) industry outlook
(3) cost of 'averaging' and what to do. basically we should plan our campaign in such a way that we have sufficient ammo in either bull/bear scenarios
and some other points. but feel the book isnt as good as i had expected (and the other book 'charting the stock market the wyckoff method' is much more succinct and preferable)
Decent insight into some of the macro conditions/thoughts that Wyckoff had with respect to the market and certain industries, but ultimately very little that can be incorporated into one's own trading process. Perhaps a decent book to read for completely neophyte traders who have never touched the market and are unaware of its perils, or for someone enthralled by Wyckoff, but certainly not a book that will affect your trading philosophy much.
Please remember this book was published over one hundred years ago and is still more relevant than ever. It also debunks a lot of myths that intrinsic value is a Grahamic concept or diversification was only talked about after Markowitz wrote his thesis. He has explained them both, at least 25-30 years before them. A legend!
Excellent pragmatic investment wisdom from a self made investor of a century ago. The market has gotten significantly larger and more complex in that time but the principles he outlines remain the same.
A very good book to understand very basic method of how Wyckoff have done with his invesment and trading. There are lots of insight we may learn from his experience. It is not very complex.