Buy the Rumor, Sell the Fact: 85 Maxims of Investing and What They Really Mean
Product Description
The traditional rules of Wall Street–what’s right, what’s wrong, and how investors can distinguish between the two
Buy on Monday, sell on Friday”. . . “Don’t catch falling knives”. . . “The trend is your friend”. . .
These maxims are part of the gospel of Wall Street, repeated so often that, to many, they are beyond question. Unfortunately, they can be wrong–and traders who blindly follow them can get burned. Buy the Rumor, Sell the Fact examines 85 of these “insights” to reveal the meaning behind each, discover its factual support or lack thereof, and advise investors on which to follow and which to just plain ignore. Devoting two to four pages to each maxim, this valuable book examines:
- Maxims that seem to contradict each other–and why both versions may often be correct
- Perilous adages that may work–but then again, may not
- The thought, culture, and impact of today’s Wall Street
Buy the Rumor, Sell the Fact: 85 Maxims of Investing and What They Really Mean
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Comments on Buy the Rumor, Sell the Fact: 85 Maxims of Investing and What They Really Mean
Not a good work. The 85 axims seems like simple and short articles in any magazine. It is not a book in the classical meaning much more collection of simple thoughts not too interesting.
Rating: 2 / 5
This book contains some truth, but much of it is wrong. One “proof” of the observation that women’s skirt lengths are correlated with the business cycle being wrong is given as women in the financial sector wear pants.
Another doozy is the intentional misunderstanding of the maxim that you should heed advice of successful investors. The author says that skilled business students are not wealthy while in school and still may have good market observations.
Other proofs involve taking time periods much longer than that for which the rule of thumb is intended for.
Rating: 2 / 5