MAKING IT IN THE MARKET: Richard Ney's Low-Risk System for Stock Market Investors by Richard Ney

MAKING IT IN THE MARKET: Richard Ney's Low-Risk System for Stock Market Investors

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KIRKUS REVIEW

You know the old saw about the prospective investor who was invited over to the boat basin to view the brokers' yachts. ""But where,"" he asked ingenuously, ""are the customers' yachts?"" Richard Ney's earlier bestsellers, The Wall Street Gang (1974) and The Wall Street Jungle (1969), were exposes of the insider's bureaucracy that is the New York Stock Exchange. Here he turns his talents to account with an investment system designed to limit the competitive advantages of the brokerage establishment. Ney lets the traditional analysis of economic fundamentals go by the Board. In a manipulated market, the laws of supply and demand are a pretty fiction. Ney has put his fifteen years on the Street to use by learning to second-guess the specialists--the aristocrats of the industry who control price fluctuations from the floor of the NYSE itself. What you must do to beat the principal croupiers at their own game is to keep your eye not on the bouncing Dow Jones average but on the indivudal movements of the thirty blue chips from which it is compiled. Using excerpts from his market diary, Ney shows how to spot a phony rally rigged by the market-makers and explains the lucrative mysteries of selling short. His goals are preservation of capital rather than current income, and long-term capital gains: don't buy no options, don't spread no straddles. The big-money game is always a gamble, but Ney has achieved a certain currency in the financial community and he should be a winner.

Pub Date: Oct. 12th, 1975
Publisher: McGraw-Hill