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SUPER PROFITS IN CHEAP STOCKS

THE SECRET WORLD OF STOCKS SELLING FROM A PENNY TO $10 A SHARE

A wily stock market strategy presented in an informative, if somewhat muddled, manner.

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Financial advice from a longtime investor focuses on stocks that sell for less than $10 per share.

For investors who want to buy individual stocks, Carach has an intriguing proposition. Why not consider cheap stocks rather than the more common blue chip ones? A former real estate appraiser and lifelong investor who wrote Forty Years a Speculator (2007), the author calls stocks selling for less than $10 per share “the most ignored and detested sector” of the market—but this has not stopped him from pursuing them for decades and making a tidy profit. For the first 100 or so pages of this book, Carach shares his observations about the market and his “conviction-contrarian” philosophy of investing: buying low-cost stocks “when they are being hammered into the gutter” and holding them for “at least two to five years.” This early material provides intriguing insights into how the author invests, but it is unevenly written and highly repetitive (a fact Carach acknowledges; he apparently collected previously penned articles and included them as chapters). The second half of the book moves from the general to the more specific as the author delves into several market sectors, including mining, oil and gas, high tech commodities, gold and silver, and real estate investment trusts. He assesses some of these sectors as well as the American economy in blunt style; for example, he asserts, “The next chapter in the history of gold and silver will be written in Asia where it is adored and not in the west where it is scorned and regarded as a barbaric relic.” Carach lists some of his favorite stock picks with only spotty details about them. Readers may, of course, regard these choices as recommendations, but he cautions investors to do their homework: “Research your stocks before and not after you buy them. Diversify broadly, no more than 5% in any position, and the riskier the play the less of your money should be in it.” While some of the prose seems amateurish, the author’s unorthodox investment advice may spark serious interest.

A wily stock market strategy presented in an informative, if somewhat muddled, manner.

Pub Date: Dec. 17, 2019

ISBN: 978-1-67674-617-1

Page Count: 216

Publisher: Self

Review Posted Online: April 6, 2020

Kirkus Reviews Issue: May 15, 2020

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BEATING THE STREET

More uncommonly sensible investment guidance from a master of the game. Drawing on his experience at Fidelity's Magellan Fund, a high- profile vehicle he quit at age 46 in 1990 after a spectacularly successful 13-year tenure as managing director, Lynch (One Up on Wall Street, 1988) makes a strong case for common stocks over bonds, CDs, or other forms of debt. In breezy, anecdotal fashion, the author also encourages individuals to go it alone in the market rather than to bank on money managers whose performance seldom justifies their generous compensation. With the caveat that there's as much art as science to picking issues with upside potential, Lynch commends legwork and observation. ``Spending more time at the mall,'' he argues, invariably is a better way to unearth appreciation candidates than relying on technical, timing, or other costly divining services prized by professionals. The author provides detailed briefings on how he researches industries, special situations, and mutual funds. Particularly instructive are his candid discussions of where he went wrong as well as right in his search for undervalued securities. Throughout the genial text, Lynch offers wry, on-target advisories under the rubric of ``Peter's Principles.'' Commenting on the profits that have accrued to those acquiring shares in enterprises privatized by the British government, he notes: ``Whatever the Queen is selling, buy it.'' In praise of corporate parsimony, the author suggests that, ``all else being equal, invest in the company with the fewest photos in the annual report.'' Another bull's-eye for a consummate pro, with appeal for market veterans and rookies alike. (Charts and tabular material— not seen.)

Pub Date: March 1, 1993

ISBN: 0-671-75915-9

Page Count: 320

Publisher: Simon & Schuster

Review Posted Online: May 19, 2010

Kirkus Reviews Issue: Jan. 1, 1993

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HUNTING, GATHERING & VIDEOGAMES

Gates’s writing is strong–hopefully he’ll apply himself more seriously to his next subject.

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Gates elaborates upon the age-old advice of parents to children–get a job–in this winsome if somewhat desultory treatise on political economy.

Regretting his youthful disdain for work and money, here the author makes a case for both. Hunter-gatherers and farmers, he notes, can hardly avoid the consequences of idleness, which leads quickly to starvation. Economies inevitably develop and diversify, a growing division of labor requires the performance of specialized tasks and trade for the necessities of life, and money replaces self-evident use value with mysterious exchange value. Gates extols the usefulness of money as a medium of exchange, appreciates the modern consumer cornucopia and, on a basic Darwinian note, explains that “those who adopted industry had better ‘reproductive success.’” He also appraises the discontents of work life. People often feel that their identities are bound up in their work, he observes, but they also feel alienated from their apparently pointless jobs as cogs in the corporate machine. Rising salaries don’t seem to bring more happiness either; the careerist rat race for wealth and status is unhealthy and leaves little time for family or personal fulfillment. The author offers his own resumé as a compromise solution: refusing promotion offers, he has settled on “a dead-end data entry job and part-time waitering,” which feeds the kids and leaves room for family, books on tape and other pursuits. Gates is an engaging if slightly aimless writer, citing Plato and Marx one minute and tossing out budget and investment tips the next. His Stoic combination of pragmatism and renunciation ultimately strikes a chord. His defense of remunerative employment makes the book a great graduation present from anxious parents to slacker offspring, while his defense of untaxing, ambitionless employment makes it a good graduation present from slacker offspring to anxious parents.

Gates’s writing is strong–hopefully he’ll apply himself more seriously to his next subject.

Pub Date: March 31, 2005

ISBN: 1-933037-60-1

Page Count: -

Publisher: N/A

Review Posted Online: May 23, 2010

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