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The classic bestseller by Benjamin Graham, perhaps the greatest investment advisor of the 20th century, The Intelligent Investor has taught and inspired hundreds of thousands of people worldwide. Since its original publication in 1949, Benjamin Graham's book has remained the most respected guide to investing, due to his timeless philosophy of "value investing," which helps protect investors against the areas of possible substantial error and teaches them to develop long-term strategies with which they will be comfortable down the road.
Over the years, market developments have borne out the wisdom of Benjamin Graham's basic policies. Here he takes account of both the defensive and the enterprising investor, outlining the principles of stock selection for each, and stressing the advantages of a simple portfolio policy. Among the book's special features are the use of numerous comparisons of pairs of common stocks to bring out their elements of strength and weakness and the construction of investment portfolios designed to meet specific requirements of quality and price attractiveness.
El gran Andre Kostolany, en este libro que es una especie de relato biográfico, narra su vida como especulador y como observador de la naturaleza humana, con una divertida mezcla de anécdotas, reseñas históricas, principios y consejos destinados a los especuladores financieros. No se trata en absoluto de un manual de instrucciones para el bolsista.El triunfo suele estar reservado a quien tiene ideas propias y, además, uno se queda con la sensación de que André Kostolany (1907-1999) se cuidó mucho de contarnos todo lo que sabía. Dejo aquí una frase que resume su ideología política: “Mi corazón está a la izquierda, pero mi cabeza muy a la derecha. Subrayo “mi cabeza” y no mi cartera. Mi cartera está en los Estados Unidos de América”. Ademas, final del libro hay un interesante apéndice con algunas citas del mismo, algunas tan buenas como estas: “En la bolsa todo es posible, incluso lo lógico”, “El analista piensa, la bolsa actua”, “En la bolsa no se pueden preveer los movimientos solo adivinarlos”, y un largo etc, además de diez mandamientos y prohibiciones.
"The book is clearly written and makes generous use of practical examples and models...The principles he [Tharp] promotes for traders, if followed closely, can be applied to a wide group of investors." (Ticker Magazine ) "Van's book gets directly to the heart of what it takes to be a successful trader. It's the best book I've read on trading successfully; not fluff or hype like so many others." - Tom Basso, President, Trendstat Capital Management, Inc.
"The trading public owes Dr. Tharp a debt of gratitude for this insightful masterpiece." - Edward Dobson, President, Traders Press, Inc.
About the Author
Van K. Tharp, Ph.D., has been a consultant to traders and investors for over 15 years and has studied over 4,000 traders during that time. He is internationally recognized as the number one coach for traders and investors. Dr. Tharp is a sought-after speaker, developing courses and seminars for large banks and trading firms around the world. He is the author of a successful five-volume home study course, a test designed to evaluate a trader's strengths and weaknesses, eight different 3-day workshops, a monthly newsletter on systems and psychology, and numerous articles in industry publications.
Here's what I believe:
1. The markets are not random. I don't care if the number of academicians who have argued the efficient market hypothesis would stretch to the moon and back if laid end to end; they are simply wrong.
2. The markets are not random, because they are based on human behavior, and human behavior, especially mass behavior, is not random. It never has been, and it probably never will be.
3. There is no holy grail or grand secret to the markets, but there are many patterns that can lead to profits.
4. There are a million ways to make money in markets. The irony is that they are all very difficult to find.
5. The markets are always changing, and they are always the same.
6. The secret to success in the markets lies not in discovering some incredible indicator or elaborate theory; rather, it lies within each individual.
7. To excel in trading requires a combination of talent and extremely hard work-(surprise!) the same combination required for excellence in any field. Those seeking success by buying the latest $300 or even $3,000 system, or by following the latest hot tip, will never find the answer because they haven't yet understood the question.
8. Success in trading is a worthy goal, but it will be worthless if it is not accompanied by success in your life (and I use the word success here without monetary connotation). In conducting the interviews for this book and its predecessor. Market Wizards, I became absolutely convinced that winning in the markets is a matter of skill and discipline, not luck. The magnitude and consistency of the winning track records compiled by many of those I interviewed simply defy chance. I believe the Market Wizards provide role models for what it takes to win in the markets. Those seeking quick fortunes should be discouraged at the onset. I have strived to reach two audiences: the professionals who have staked careers in the markets or are serious, students of the markets, and the lay readers who have a general interest in the financial markets and a curiosity about those who have won dramatically in an arena where the vast majority loses. In order to keep the book accessible to the layperson, I have tried to avoid particularly esoteric topics and have included explanations wherever appropriate. At the same rime, I have strived to maintain all core ideas so that there would be no loss of meaningful information to those with a good working knowledge of the markets. I think this book should be as meaningful to the layperson as to the professional simply because the elements that determine success in trading are totally applicable to success in virtually any field or to achieving any meaningful goal.
1. The markets are not random. I don't care if the number of academicians who have argued the efficient market hypothesis would stretch to the moon and back if laid end to end; they are simply wrong.
2. The markets are not random, because they are based on human behavior, and human behavior, especially mass behavior, is not random. It never has been, and it probably never will be.
3. There is no holy grail or grand secret to the markets, but there are many patterns that can lead to profits.
4. There are a million ways to make money in markets. The irony is that they are all very difficult to find.
5. The markets are always changing, and they are always the same.
6. The secret to success in the markets lies not in discovering some incredible indicator or elaborate theory; rather, it lies within each individual.
7. To excel in trading requires a combination of talent and extremely hard work-(surprise!) the same combination required for excellence in any field. Those seeking success by buying the latest $300 or even $3,000 system, or by following the latest hot tip, will never find the answer because they haven't yet understood the question.
8. Success in trading is a worthy goal, but it will be worthless if it is not accompanied by success in your life (and I use the word success here without monetary connotation). In conducting the interviews for this book and its predecessor. Market Wizards, I became absolutely convinced that winning in the markets is a matter of skill and discipline, not luck. The magnitude and consistency of the winning track records compiled by many of those I interviewed simply defy chance. I believe the Market Wizards provide role models for what it takes to win in the markets. Those seeking quick fortunes should be discouraged at the onset. I have strived to reach two audiences: the professionals who have staked careers in the markets or are serious, students of the markets, and the lay readers who have a general interest in the financial markets and a curiosity about those who have won dramatically in an arena where the vast majority loses. In order to keep the book accessible to the layperson, I have tried to avoid particularly esoteric topics and have included explanations wherever appropriate. At the same rime, I have strived to maintain all core ideas so that there would be no loss of meaningful information to those with a good working knowledge of the markets. I think this book should be as meaningful to the layperson as to the professional simply because the elements that determine success in trading are totally applicable to success in virtually any field or to achieving any meaningful goal.
Newcomers to Jack Schwager's series on top traders, as well as fervent fans of his first two entries Market Wizards and The New Market Wizards, will find that Stock Market Wizards offers another revealing look at a wide spectrum of trading styles through the eyes of 15 extraordinarily successful individuals. Transcripts of incisive Q&A sessions between Schwager and traders--including Michael Lauer, Dana Galante, Alphonse "Buddy" Fletcher Jr., and Claudio Guazzoni--examine the ways each approaches their specialty, whether it be value stocks, mutual funds, short selling, options trading, or other market niches. After brief but interesting introductions that place the subjects' trading practices into perspective, Schwager coaxes from them penetrating observations on setting goals, finding opportunities, learning from mistakes, and operating on a day-to-day basis. While some participants refuse to divulge proprietary practices, and Anthony admits that many traders' activities hold little relevance to individual investors, the basic doctrines nonetheless contain nuggets of wisdom that can be applied by many nonprofessionals. And, in the final "Wizard Lessons" chapter, Schwager details the 65 overarching principles (such as Trade Your Personality, Be Willing to Take a Loss, and The Importance of Setting Goals) he culled from these extensive conversations.
I cannot give you the experience needed to make money in the stock market using chart patterns. I can only give you the tools and say, “Go to work on paper first.” That is the first step in developing a trading style that works for you, one you are comfortable with, one that improves as you do. If you review your paper trades, you will understand why a stop-loss order is more than a tool for the professionals. You will improve your ability to predict support and resistance levels that will, in turn, allow you to tighten your stops and get out near the top, cut your losses short, and let your profits run. You will understand why the statistics in this book are useful for comparison purposes, but your trading results may fall short. You may discover that your girlfriend loves diamonds, but as a chart pattern, they are a lousy investment. One word says it all. Experience.
This book has been written by two people who have come to enjoy the process. We've both discovered we are not the only ones to have made certain mistakes and we've also discovered the same secrets to success ... which we hope to share with you. The single most important secret is this: learn to listen to the markets and do not impose your own will upon them.
Every successful trader we have known has also discovered the necessity for consistency. It is the key to everything-you must trade with a coherent methodology. You must follow a specific trading strategy. Although this book presents multiple strategies, each and every one has the same essential starting point: minimizing risk first, looking to maximize gains only after risk has been defined and controlled.
Between us we have 34 years of experience as floor traders, exchange members, traders on institutional desks, hedge fund managers, and commodity trading advisors-trading for our own accounts the entire time. We hit it off well because our number one guiding belief is that you must, above all, find setups and entries which minimize exposure. The profits come on their own terms.
Finally, even though we present many different patterns, you only need ONE strategy to be prosperous. Some of the best traders are successful because they trade only one strategy. Hopefully, all of the patterns in the manual will increase your awareness of certain market idiosyncrasies and will serve as a confirmation of your own market observations.
Es el libro mas completo en esta materia. Empieza con los fundamentos de la Teoría de Dow y desarrolla todas las técnicas, inclusive las más actuales y avanzadas, de análisis. A lo largo de sus páginas se incluyen más de 400 gráficos reales que clarifican:
- Los fundamentos del análisis técnico y de la consturccion de gráficos.
- Lo que hay que conocer sobre los ciclos.
- Técnicas de análisis: medias, osciladores, opinión contraria,...
Es una herramienta de gran valor para analistas de todos los niveles.
John J. Murphy tiene más de 30 años de experiencia en el uso del análisis técnico. Anteriormente, fue director de Merrill Lynch. En la actualidad es presidente de Murphymorris, Inc., empresa especializada en elaborar análisis para inversores.
En esta seccion voy a ir agregando todos los Ebooks que tengo sobre trading. La mayoria son en ingles por lo que si estan interesados en algun tema en particular lo puedo traducir.
Cualquier pedido, consulta o sugerencia lo pueden hacer via Contacto.
Libros en Español
El Fabuloso Mundo del Dinero y la Bolsa - André Kostolany
Los Secretos Para Ganar Dinero en los Mercados Alcistas y Bajistas
Steve Nison - Mas alla de las velas
Vivir del Trading - Alexander Elder
Los Secretos Para Ganar Dinero en los Mercados Alcistas y Bajistas
Steve Nison - Mas alla de las velas
Vivir del Trading - Alexander Elder
Libros en Ingles
Este libro está dirigido a los numerosos espectadores del fenómeno bursátil que siempre han mirado con interés el mercado, pero que no se atreven a ingresar a él sin unaguía objetiva. En forma amena el autor expone los principios básicos del funcionamiento de la Bolsa que permiten comprender mejor su anatomía, y por otra parte analiza las diferentes situaciones que se producen al invertir en la Bolsa, desde el punto de vista de las emociones del inversionista que toma el riesgo.” “Aunque exista una gran cantidad de literatura, folletos y textos enciclopédicos sobre la Bolsa, el presente trabajo hace un aporte altema desde la perspectiva del Análisis Técnicos, en un lenguaje simple y al alcance de la comprensión de todos los que gusten de esta complicada
área.” “Debido a que no existe forma de predecir el futuro, este tipo de análisis tiene la ventaja de ponernos en la senda de las probabilidadesde ocurrencia de los sucesos. No se trata de una operación matemática exacta que tenga resultados asegurados, pero sí más probables. El lector encontrará en estas páginas las claves necesarias para interpretar con un buen grado de acierto el mercado bursátil en elmediano plazo, así como también un metodología de análisis para seguirla evolución del precio de las acciones y poder realizar inversiones bursátiles con riesgos controlado. La Bolsa no es un juego, pero si es un arte más que una ciencia.”
área.” “Debido a que no existe forma de predecir el futuro, este tipo de análisis tiene la ventaja de ponernos en la senda de las probabilidadesde ocurrencia de los sucesos. No se trata de una operación matemática exacta que tenga resultados asegurados, pero sí más probables. El lector encontrará en estas páginas las claves necesarias para interpretar con un buen grado de acierto el mercado bursátil en elmediano plazo, así como también un metodología de análisis para seguirla evolución del precio de las acciones y poder realizar inversiones bursátiles con riesgos controlado. La Bolsa no es un juego, pero si es un arte más que una ciencia.”
