Cover image for Secrets of the investment all-stars
Title:
Secrets of the investment all-stars
Author:
Stern, Ken, 1965-
Personal Author:
Publication Information:
New York : American Management Association, [1999]

©1999
Physical Description:
xi, 301 pages : illustrations : 24 cm
Language:
English
ISBN:
9780814404560
Format :
Book

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HG4910 .S66 1999 Adult Non-Fiction Central Closed Stacks
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Summary

Summary

In Secrets of the Investment All-Stars, author Ken Stern takes you inside the minds of nine investment luminaries. Through candid personal interviews with these stellar investors, Stern gathers an unprecedented wealth of investment experience, know-how, and success. But that's not all. He then condenses all this knowledge into an easy, step-by-step investment formula that you can use to mimic the all-stars, make more money, and achieve your financial dreams.


Author Notes

Kenneth A. Stern is Chairman of a multimillion dollar private financial services firm, and a leader in educating the public regarding personal finance. He has published four personal finance books, including Senior Savvy and 50 Fabulous Places to Retire in America. An accomplished public speaker, he frequently lectures on financial topics, and has a syndicated radio show dedicated to explaining complex financial information in an easy-to-understand format. He is also a regular financial correspondent on such programs as "The Today Show," "CNBC Money Talk," and "CNN Financial News." Mr. Stern lives in San Diego.


Reviews 2

Booklist Review

A popular new category in the genre of investment books is the celebrity investor showcase, wherein each financial luminary reveals investing "secrets." Stern is the author of Senior Savvy (1996), a book on retirement planning, and is a regular guest on the financial talk-show circuit. He has persuaded an impressive roster of experts to divulge their personal investment strategies. Included among the nine are Morningstar's Don Phillips, Vanguard's John Bogle, forecaster Marty Zweig, and Investor's Business Daily's William O'Neil. After providing a brief introduction to the basics of investing and advising how to research the market, Stern details the results of his interviews. Besides obligatorily revealing each investor's hobbies, Stern is able to uncover the essence of each one's strategy. Helpful also are the answers to Stern's question about recommended reading. In all, there is more substance here than in many similar books. Given Stern's "all-star" lineup, he should field a winner. --David Rouse


Choice Review

Economic growth and stock value appreciation throughout the '90s have stimulated interest in financial publications such as this. Stern begins with an introduction to the basics of investing geared to the novice, followed by an introduction to contemporary investing with the work of Harry Markowitz (Nobel Prize winner for modern portfolio theory). Stern then presents interviews with several prominent investment specialists: John Bogle--indexing/low cost funds; Mario Gabelli--value investing; Marty Zweig--forecasting; William J. O'Neill--founder of Investor's Business Daily; Ron Elijah--theme/sector investing; Foster Friess--highly successful manager of Brandywine Fund; Louis Navellier--who stresses quantitative and fundamental analysis; and finally Don Phillips--CEO of Morningstar, the preeminent mutual fund evaluation guide. Stern also provides a checklist synthesizing the styles of these money managers as an aid to investors. Serious investors can benefit from reading this material more than once. Print quality of some reprinted information is poor, but data is easily obtainable from original sources e.g., the Web. Readers interested in this type of publication should also consult The Book of Investing Wisdom, edited by Paul Krass (CH, Sep'99). Stern's nontechnical treatment of varied investment models is accessible to a wide audience. For undergraduate and personal investment collections. E. C. Erickson; California State University, Stanislaus


Table of Contents

Harry MarkowitzJohn BogleMario GabelliMarty ZweigWilliam J. O'NeilRon ElijahFoster FriessLouis NavellierDon Phillips
Acknowledgmentsp. xi
Introductionp. 1
What This Book Can Do for Youp. 2
Meet the All-Starsp. 3
You Can Be an Investorp. 8
Becoming an All-Star Investorp. 10
Part 1 Introducing the Basics
1. Becoming a Successful Investor The Ingredients You Needp. 15
Learning the Lingop. 15
Sources of Informationp. 28
A Quick Lesson About Wall Street (or How Wall Street Works)p. 32
Conclusionp. 38
2. What Works on Wall Streetp. 39
The Beginnings of an All-Star Investorp. 39
Stock Analysis for Investors 101p. 41
Fundamental Analysisp. 42
Technical Analysisp. 53
Financial Forecastingp. 62
Conclusionp. 69
Part 2 Presenting the All-Stars
3. Is Knowing How to Diversify 80% of the Battle?p. 73
The Simple Approach to Diversificationp. 74
Academia--Asset Allocation in Detailp. 76
The Importance of MPT and How to Use Itp. 82
Commentaryp. 84
4. Investing (and Making Money) Without Thought--The Argument for Passive Investingp. 88
Backgroundp. 88
Preinterview Infop. 90
The Interviewp. 92
Commentaryp. 106
5. Value to the Corep. 108
Backgroundp. 108
Preinterview Infop. 110
The Interviewp. 112
The Value Approach to Investingp. 121
Factors That Affect Capitalization Ratep. 124
Commentaryp. 127
6. The World's Premier Forecasterp. 129
Backgroundp. 129
Preinterview Infop. 130
The Interview: Part Onep. 132
The Interview: Part Twop. 147
Commentaryp. 154
7. Ambassador to the Individual Investorp. 156
Backgroundp. 156
Preinterview Infop. 157
The Interviewp. 158
Commentaryp. 178
8. Looking at the Market--Backwardsp. 179
Backgroundp. 179
Preinterview Infop. 180
The Interviewp. 181
Commentaryp. 193
9. The Best-Kept Secret on Wall Streetp. 195
Backgroundp. 195
Preinterview Infop. 196
The Interviewp. 198
Tearing Apart a Balance Sheet--A Quick Lessonp. 211
Commentaryp. 214
10. A Man Who Has Beat Them Allp. 216
Backgroundp. 216
Preinterview Infop. 217
The Interviewp. 218
Commentaryp. 232
11. Everything You Always Wanted to Know About Mutual Funds but Were Afraid (or Didn't Know) to Askp. 234
What You Don't Know About Mutual Funds Can Be Dangerousp. 234
Backgroundp. 239
Preinterview Infop. 240
The Interviewp. 241
Commentaryp. 261
12. The 20-Point Checklist: A Summary of How to Use the Best of the Bestp. 262
How to Put Your New-Found Knowledge to Usep. 262
The Investment Processp. 262
Checklist for Picking a Stockp. 272
13. Summary Chapterp. 288
The Visionp. 288
The Analyzingp. 290
Conclusionp. 290
Indexp. 295