The author of Naau Street (P. 586, 1960) continues his expert review of philately in all its forms, in a book that emphasizes that there is ""no substitute for time, knowledge and experience"" in collecting. The ""profit"" in the title does not mean this is for making money in stamps, for speculators, get-rich-quick operators, etc.; it is aimed at those whose ""prime reward"" is pleasure. He analyzes all the factors that make a stamp valuable, he indicates the literature, available and otherwise, in the field; he notes types of collections, interests, and information about individual issues and stamps, he has much advice, many suggestions and plenty of help for the person who would be an informed collector. He has further to say on demand, rumors and traps that catch the unwary, catalogue use and prices, and authoritative words on condition, rarity, beauty and und of the stamps themselves that make for the security of the capital invested. Not a glib overall for the beginner but a worthwhile study for those committed to this popular hobby.