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Rule #1: The Simple Strategy for Successful Investing in Only 15 Minutes a Week Paperback – 1 March 2007
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Rule #1's common-sense, pragmatic approach is money in the bank. . . . Can you really beat the mutual fund managers and so-called experts at their own game? Hell yes! -- Jonathan Hoenig, portfolio manager ― Capitalistpig Hedge Fund
- Publisher : CENTURY - TRADE; 1st edition (1 March 2007)
- Language : English
- Paperback : 320 pages
- ISBN-10 : 1905211317
- ISBN-13 : 978-1905211319
- Reading age : Baby and up
- Dimensions : 12.9 x 2 x 19.8 cm
- Best Sellers Rank: 595 in Books (See Top 100 in Books)
- Customer Reviews:
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Top reviews from Australia
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This is also just my opinion but I believe this valuation method is best suited to American Stock Exchanges as Australias Stock Market has several key differences and operates differently to US exchanges. A couple of other setbacks you will encounter is that financial information is not always freely available in Australia and therefore you need to get accustomed to reading annual reports or pay a subscription-based service, the other setback is America's taxation is different from Australia's. We got a tax imputations credit system, as well as CGT based on how long the security is held, both these will impede the Phil Towns method. Please keep in mind this has nothing to do with the book and more on the Australian investing climate, just know he's an American investor, and as such most of his method of reducing or eliminating tax will no apply to Australia.
1. Make a plan that suits you and your knowledge
2. Identify your prey and wait until the market makes them cheap for you
3. Build a significant position and wait.
Top reviews from other countries
The book explains entry points for stocks. Anyway, thank you Phil Town!
The book also guides you on entry points using technical analysis. Day traders spend years mastering intraday moves. This is not a technical analysis guide. Personally I use market strucutre and price action to guide entries, but for beginners this guide should be sufficient.
I would go so far as to say the best book I have read on the subject..
Forget trying to understand Warren Buffet.. it’s too technical
This author talks to the average man in the street and makes the topic very understandable.
I feel very confident I could start to pick my own stocks
It’s an investing course in a book..
What peaked my interest was when he unexpectedly chartered me into Technical analysis of a stock, which I completely disregard before. He took us through 3 tools which helped us determine whether the big guys (institutional investors) were pulling money out or flooding money in the stock, as majority of the U.S money is with those guys.
However, for the Indian stock market that's not the case. U.S stock market has 80% institutional money whereas Indian stock market has around 30%-60% depending on the specific stock. You can calculate the ratio for specific stocks. But, the tools should still work, so don't worry. What the tools will help you with is get out of a stock when it signals it's gonna go down, even a stock which is at 50% MOS from it's intrinsic value can still go down further. The combination of Fundamental and Technical analysis assures safety from short term loss and guaranteed long term gains. The gain from the stock market can act as a sort of income now, as you can pull of your money when you know there's gonna be a decline and buy back again when there's about to be money coming in the stock.
Whatever you learnt, should work for the Indian stock market as well, so go for it, and apply something you learnt here for your investments because "Knowledge is not power, it's potential power. Application of knowledge in your life is power".