Product Description
by Laszlo Birinyi (Author)
Alongside Laszlo Birinyi's stories from his more than forty years of trading experience, the book provides guidance on critical trading and investment issues, including:
- What the market will likely do if Spyders are up one percent in pre-trading
- Whether to buy or sell when a stock reports better that expected earnings and trade up to $5 to $50
- The details behind group rotation and market cycles
- The seasonal factors in investing
- Indicators, explained: which are indicative and which are descriptive
- The importance of sentiment and how to track it
The book will include chapters and details on technical analysis, the failure of technical analysis efforts, the business of wall street, trading indicators, anecdotal data, and price gaps. The Website associated with the book will also feature data sourcing and video.
Front Jacket
"Trading is a game," asserts veteran market analyst and industry legend Laszlo Birinyi in The Master Trader: Birinyi's Secrets to Understanding the Market. And "like all games, there are winners and losers. Hopefully, you will emerge a winner by understanding the reality of today's markets and being aware of the land mines and pitfalls."
For more than forty years, Laszlo Birinyi has been one of the financial world's leading voices--a brilliant trader, prognosticator, and unique personality unafraid to speak hard truths that rattle the cages of Wall Street. Now, in The Master Trader, this Wall $treet Week Hall of Famer gives us a frank, entertaining, and highly applicable road map to navigate a stock market riddled with potholes of misinformation.
In The Master Trader, Birinyi debunks widely accepted, but often faulty, financial advice through hard, realistic scrutiny of financial analysts, experts, academics, and even Nobel Prize winners. He emphasizes the marketing incentives that too often override truthfulness in the stock market, befuddling investors and leading to overwhelming economic strain.
With a thorough but no-nonsense tone, Birinyi exposes technical analysis and its potential for failure, demystifies the business protocol of Wall Street, and deciphers trading indicators, anecdotal data, and price gaps. Brimming with insider strategies and personal trading vignettes, The Master Trader addresses:
- Market changes that will likely occur as Spyders adjust in pre-trading
- Techniques for predicting the future success of a stock that reports better than expected earnings
- Methods for determining when to buy or sell stock
- The real function of money flows as a fundamental input instead of a technical indicator
- How to use magazines and newspapers, which are actually databases in disguise, to your advantage
- The futility of stock market research as an indicator of the future instead of an assessment of the past
Combining case studies and real data with Birinyi's fearless insights and trademark wit, The Master Trader is a rare window into the mind of a master. Read this book less as a cheat sheet for making money than a guide to not losing it. In today's struggling economy, that may be enough to come out on top.
Author Biography
LASZLO BIRINYI is the founder and President of Birinyi Associates, Inc. In 1976, he joined Salomon Brothers as the Head of Equity Market Analysis and developed the firm's weekly commentary, Stock Week. He has developed countless market tools, the most famous being the widely recognized Money Flows tool. In 1989, Birinyi began his own firm, Birinyi Associates, and served as Global Trading Strategist for Deutsche Bank Securities from 1998 to 2002. A frequent guest on business news shows and broadcasts, Birinyi has been inducted into the Wall $treet Week Hall of Fame and named one of Smart Money's "Power 30" market movers. He holds degrees from the University of North Carolina at Chapel Hill and the New York University Stern School of Business Administration.
