{"product_id":"the-master-trader-website-isbn-9781118774731","title":"The Master Trader, + Website","description":"\u003cp\u003eAlongside Laszlo Birinyi's stories from his more than forty years of trading experience, the book provides guidance on critical trading and investment issues, including:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eWhat the market will likely do if Spyders are up one percent in pre-trading\u003c\/li\u003e \u003cli\u003eWhether to buy or sell when a stock reports better that expected earnings and trade up to $5 to $50\u003c\/li\u003e \u003cli\u003eThe details behind group rotation and market cycles\u003c\/li\u003e \u003cli\u003eThe seasonal factors in investing\u003c\/li\u003e \u003cli\u003eIndicators, explained: which are indicative and which are descriptive\u003c\/li\u003e \u003cli\u003eThe importance of sentiment and how to track it\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThe 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.\u003c\/p\u003e \u003cp\u003eAcknowledgments xiii\u003c\/p\u003e \u003cp\u003ePreface xv\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1: Technical Analysis: Fuhgeddaboudit 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIndicators: Pick One, Any One 3\u003c\/p\u003e \u003cp\u003e1990 Another Opportunity Missed 6\u003c\/p\u003e \u003cp\u003eNotes 9\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2: The Failure of Technical Efforts 11\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Lack of Analysis . . . (Again) 13\u003c\/p\u003e \u003cp\u003eThe Advance\/Decline Line: A Favorite Tool, but Why? 15\u003c\/p\u003e \u003cp\u003eVolume? Another Important Indicator? Really? 20\u003c\/p\u003e \u003cp\u003eNewsletters—Once Upon a Time . . . 23\u003c\/p\u003e \u003cp\u003ePredicting Rain Doesn’t Count; Building Arks Does 25\u003c\/p\u003e \u003cp\u003eTechnical Analysis Fails a Rigorous Test 28\u003c\/p\u003e \u003cp\u003eNotes 30\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3: Technicals: The Last Word 31\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTopical Studies: An Introduction 33\u003c\/p\u003e \u003cp\u003eNotes 36\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4: Wall Street: Games People Play 37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eA Brokerage Firm Can’t Calculate Performance? 40\u003c\/p\u003e \u003cp\u003eMr. Prechter 42\u003c\/p\u003e \u003cp\u003eNotes 47\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5: Money Flows: The Ultimate Indicator 49\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePlaying with Blocks 51\u003c\/p\u003e \u003cp\u003eIt is Not How Often; It is How \u003ci\u003eMuch \u003c\/i\u003e54\u003c\/p\u003e \u003cp\u003eThe SEC’s Study on the Information from Large Trades 58\u003c\/p\u003e \u003cp\u003e\u003ci\u003eWall Street Week\u003c\/i\u003e: The Record 63\u003c\/p\u003e \u003cp\u003eApple is a Buy at $3? 65\u003c\/p\u003e \u003cp\u003eMr. Market’s Voice 71\u003c\/p\u003e \u003cp\u003eNotes 73\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6: Anecdotal Data 75\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMagazines and Newspapers Are Databases in Disguise 80\u003c\/p\u003e \u003cp\u003eDow Theory in Real Time 84\u003c\/p\u003e \u003cp\u003eMagazine Covers—Overrated 87\u003c\/p\u003e \u003cp\u003eNote 87\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7: \u003ci\u003eAlways \u003c\/i\u003eCut the Cards 89\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStrategists: More Marketing Than Markets 91\u003c\/p\u003e \u003cp\u003eStock Market Research: An Oxymoron 94\u003c\/p\u003e \u003cp\u003eThe Issue of CAPE: Cyclically Adjusted Price-Earnings Ratio 95\u003c\/p\u003e \u003cp\u003eStrategists: One More Thing . . . 97\u003c\/p\u003e \u003cp\u003eWhat Do Stocks Really Return? 100\u003c\/p\u003e \u003cp\u003eA Successful Model Except for “Irrational” Investors 102\u003c\/p\u003e \u003cp\u003eThe Press Should Be in the Reporting, Not Forecasting, Business 106\u003c\/p\u003e \u003cp\u003eNotes 112\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8: DOW: 19,792? 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCitibank (the Company) versus Citi (the Stock) 118\u003c\/p\u003e \u003cp\u003eWorld War I: The Market Swoons, Oops, Rallies 120\u003c\/p\u003e \u003cp\u003eThe Dow Trades above 1,000 123\u003c\/p\u003e \u003cp\u003eNotes 126\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9: That’s Easy for You to Say! 129\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e\u003ci\u003eBusinessWeek\u003c\/i\u003e: 1998, 1999, and America Online 131\u003c\/p\u003e \u003cp\u003eBEST: Real Time, Real Money, Real Results 134\u003c\/p\u003e \u003cp\u003eNotes 136\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10: Playing the Game 137\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMr. Buffett Buys and Sells Silver 139\u003c\/p\u003e \u003cp\u003eBonds Can Go Down 143\u003c\/p\u003e \u003cp\u003eMr. Ellis: The Loser’s Game 146\u003c\/p\u003e \u003cp\u003e\u003ci\u003eWall Street Week\u003c\/i\u003e: We Were Lucky (for Eight Years) 148\u003c\/p\u003e \u003cp\u003eMoney Managers Don’t Get It? 149\u003c\/p\u003e \u003cp\u003eNotes 154\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11: Have It Your Way 155\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWeasel Words: Not Our Choice, but Know and Recognize 160\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12: The Market: Yesterday, Today, and Tomorrow? 163\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCommissions Go Down; ERISA Changes the Rules 164\u003c\/p\u003e \u003cp\u003eLondon’s Big Bang: A Failure There, a Good Idea Here? 169\u003c\/p\u003e \u003cp\u003eThe Public versus “All Others” 173\u003c\/p\u003e \u003cp\u003eHigh-Frequency Traders Get Billions, Brokers Prosper, but Are You Benefiting? 178\u003c\/p\u003e \u003cp\u003eThe Demise of the Japanese Market Was Structural 186\u003c\/p\u003e \u003cp\u003eNotes 188\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13: Get Ready, Get Set . . . 191\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTracking Sentiment, or, Keeping Score of the Players 195\u003c\/p\u003e \u003cp\u003eNote 196\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14: Market Cycles and Rotation 197\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow to Tell Whether We Are in the Eighth or Ninth Inning 201\u003c\/p\u003e \u003cp\u003eGroup Rotation Exists; It is Random but Worth Understanding 204\u003c\/p\u003e \u003cp\u003eSmall Stocks: On Average, Yes, but . . . 212\u003c\/p\u003e \u003cp\u003eGrowth versus Value: Advantage Growth, but . . . 214\u003c\/p\u003e \u003cp\u003eNotes 216\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15: The Economy and the Federal Reserve Board 217\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGDP and the Market, No Surprises Here 218\u003c\/p\u003e \u003cp\u003eThe Fed Tightens: It Hurts Only for a Little While 221\u003c\/p\u003e \u003cp\u003e1994: A Little Perspective, if You Please 225\u003c\/p\u003e \u003cp\u003e1995: Economists Predict Because They Are Asked, but Why? 226\u003c\/p\u003e \u003cp\u003eNote 228\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16: Picking Stocks 229\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSeeds: Ideas to Get You Started, Planting, and Harvesting Come Later 232\u003c\/p\u003e \u003cp\u003eSprained Wrists Eventually Heal (and Prosper) 233\u003c\/p\u003e \u003cp\u003eCapitulation: Another Example of the Anecdotal Process 237\u003c\/p\u003e \u003cp\u003eTrend Charts: Late In, Early Out but Profitable and Comfortable 239\u003c\/p\u003e \u003cp\u003eNote 245\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17: The Trading Day 247\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Morning after a Big Day 250\u003c\/p\u003e \u003cp\u003eWhat Do Futures Tell Us? 253\u003c\/p\u003e \u003cp\u003eIt’s 10:00 a.m.; Do You Know Where Your Stocks Are Going? 253\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18: “Mind the Gap” 265\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eAfter the Post‐Market Fall . . . or Rally 267\u003c\/p\u003e \u003cp\u003eGaps Provide Opportunities and Have \u003ci\u003eSome \u003c\/i\u003eTendencies, but None Written in Stone 270\u003c\/p\u003e \u003cp\u003eGaps Squared 272\u003c\/p\u003e \u003cp\u003eOld Rule: Large Gaps Have to Be Closed—New Rule: About 25 Percent 273\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19: You Must Remember This 277\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIt’s Smart to Be Bearish, but Not Necessarily Profitable 279\u003c\/p\u003e \u003cp\u003eYou Can Never Know Too Much about Too Many Things on Wall Street 281\u003c\/p\u003e \u003cp\u003eNotes 284\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20: \u003ci\u003eWall Street Week\u003c\/i\u003e and Other Adventures 285\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eSalomon Brothers: The Bar Was High, Even for the Chef 287\u003c\/p\u003e \u003cp\u003eNotes 289\u003c\/p\u003e \u003cp\u003eAppendix A E xpansions\/Recessions and Bull\/Bear Markets 291\u003c\/p\u003e \u003cp\u003eAppendix B Cost of Timing the Market 303\u003c\/p\u003e \u003cp\u003eDow Jones Return 303\u003c\/p\u003e \u003cp\u003eAppendix C H istory of Regulation 307\u003c\/p\u003e \u003cp\u003eGlossary 311\u003c\/p\u003e \u003cp\u003eAbout the Author 315\u003c\/p\u003e \u003cp\u003eAbout the Companion Website 317\u003c\/p\u003e \u003cp\u003eIndex 319\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eLASZLO BIRINYI\u003c\/b\u003e 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, \u003ci\u003eStock Week\u003c\/i\u003e. 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 \u003ci\u003eWall $treet Week\u003c\/i\u003e Hall of Fame and named one of \u003ci\u003eSmart Money\u003c\/i\u003e'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.   \u003c\/p\u003e\u003cp\u003e\u003cb\u003e\"Trading is a game,\" asserts veteran market analyst and industry legend Laszlo Birinyi in \u003ci\u003eThe Master Trader: Birinyi's Secrets to Understanding the Market\u003c\/i\u003e. 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.\"\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003eFor 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 \u003ci\u003eThe Master Trader,\u003c\/i\u003e this \u003ci\u003eWall $treet Week\u003c\/i\u003e Hall of Famer gives us a frank, entertaining, and highly applicable road map to navigate a stock market riddled with potholes of misinformation. \u003c\/p\u003e\u003cp\u003eIn \u003ci\u003eThe Master Trader\u003c\/i\u003e, 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. \u003c\/p\u003e\u003cp\u003eWith 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, \u003ci\u003eThe Master Trader\u003c\/i\u003e addresses: \u003c\/p\u003e\u003cul\u003e \u003cli\u003eMarket changes that will likely occur as Spyders adjust in pre-trading\u003c\/li\u003e \u003cli\u003eTechniques for predicting the future success of a stock that reports better than expected earnings\u003c\/li\u003e \u003cli\u003eMethods for determining when to buy or sell stock\u003c\/li\u003e \u003cli\u003eThe real function of money flows as a fundamental input instead of a technical indicator\u003c\/li\u003e \u003cli\u003eHow to use magazines and newspapers, which are actually databases in disguise, to your advantage\u003c\/li\u003e \u003cli\u003eThe futility of stock market research as an indicator of the future instead of an assessment of the past\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eCombining case studies and real data with Birinyi's fearless insights and trademark wit, \u003ci\u003eThe Master Trader\u003c\/i\u003e 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.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47990284910821,"sku":"NP9781118774731","price":60.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118774731.jpg?v=1761787203","url":"https:\/\/k12savings.com\/es\/products\/the-master-trader-website-isbn-9781118774731","provider":"K12savings","version":"1.0","type":"link"}