THE WAY THE FINANCIAL MARKETS REALLY WORK, WITH HUMOR
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This was the first book that I ever read about he financial markets, and I was immediately hooked. Psychology clearly rules the day, and Adam Smith's examples are remarkably funny. The excesses he identified in the 1960s seemed to have returned in only slightly updated form in the late 1990s. If you did not see the last big market top, you owe it to yourself to read this book. If you are an entrepreneur, you will love the part about being a public company. He says that this is like being your own country, because you can print your own money whenever you need more (by selling your stock to the public). And you know, he's right. All the Internet entrepreneurs seem to understand that point. CAVEAT EMPTOR. If you like this book as much as I did, perhaps it will help you identify a stimulating and rewarding career as it did for me.
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A book whose content time has come again
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The book was written to summarize the experience of the 1960's. It is a very clear description of the pychological factors influencing the stock market. At a time when the market is again poised to soar, it is prudent to review the good and the bad of the last time around.
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The times change but the stockmarket game goes on
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Written in the late sixties the book reflects its times in the boardrooms and trader pits of Wallstreet. Condesending toward women, hostile to ethnics and gays the book shows a somewhat rough hewn side of the men in the grey flannel suites. The game of generating money from speculation, mass physiology buttressed by modern economic techniques and monatorist policies could be taken from todays headlines. A very entertaining and informative book both from a historical and investing perspective
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Bulls, bears, mice, and men, the menagerie of Wall Street
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A sad and wondrous Game it is with options, stocks, and quotes galore.
Why do we worry about oil or soybeans? What is this Game to which we whore?
"Adam Smith" will show you the way. He will show you the Stage and show you the Play.
Not a book of how and what and not a book of which stocks will fly.
No blueprints to gain the Midas Touch. Instead, it asks the question: why?
Why does Wall Street chart a thousand charts? Why does it walk a Random Walk?
Which gods does it pray to and what price is paidto dreamily listen to the ticker tape talk?
Perhaps for wealth or perhaps for prestige. This is probably what most people would say.
But look in the abyss, and it looks back at you. Is the answer that they can't help but Play?
--SC
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