{"product_id":"fundamental-analysis-and-position-trading-isbn-9781118464205","title":"Fundamental Analysis and Position Trading","description":"\u003cb\u003eComprehensive coverage of the four major trading styles\u003c\/b\u003e  \u003cp\u003eEvolution of a Trader explores the four trading styles that people use when learning to trade or invest in the stock market. Often, beginners enter the stock market by:\u003c\/p\u003e \u003cul\u003e \u003cli\u003eBuying and holding onto a stock (value investing). That works well until the trend ends or a bear market begins. Then they try\u003c\/li\u003e \u003cli\u003ePosition trading. This is the same as buy-and-hold, except the technique sells positions before a significant trend change occurs.\u003c\/li\u003e \u003cli\u003eSwing trading follows when traders increase their frequency of trading, trying to catch the short-term up and down swings. Finally, people try\u003c\/li\u003e \u003cli\u003eDay trading by completing their trades in a single day.\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThis series provides comprehensive coverage of the four trading styles by offering numerous tips, sharing discoveries, and discussing specific trading setups to help you become a successful trader or investor as you journey through each style.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eTrading Basics\u003c\/i\u003e takes an in-depth look at money management, stops, support and resistance, and offers dozens of tips every trader should know.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eFundamental Analysis and Position Trading\u003c\/i\u003e discusses when to sell a buy-and-hold position, uncovers which fundamentals work best, and uses them to find stocks that become 10-baggers—stocks that climb by 10 times their original value.\u003c\/p\u003e \u003cp\u003e\u003ci\u003eSwing and Day Trading\u003c\/i\u003e reveals methods to time the market swings, including specific trading setups, but it covers the basics as well, such as setting up a home trading office and how much money you can make day trading.\u003c\/p\u003e \u003cp\u003ePreface xi\u003c\/p\u003e \u003cp\u003eAcknowledgments xvii\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 1 introduction to Buy and Hold 1\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is Buy and Hold? 2\u003c\/p\u003e \u003cp\u003eWho Should Buy and Hold? 2\u003c\/p\u003e \u003cp\u003eMy Numbers: Background and Terms 3\u003c\/p\u003e \u003cp\u003eNow What? 3\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 2 Stock Selection 5\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Comes After Large Price Moves? 6\u003c\/p\u003e \u003cp\u003eMyth: Stocks That Drop Least in a Bear Market Then Soar 7\u003c\/p\u003e \u003cp\u003eStock Selection the Easy Way 8\u003c\/p\u003e \u003cp\u003eTwo Tips for Stock Selection 9\u003c\/p\u003e \u003cp\u003eBuy Fallen Angels 10\u003c\/p\u003e \u003cp\u003eWhat Chart Patterns Appear Before Mergers and Buyouts? 10\u003c\/p\u003e \u003cp\u003eWhat Are Insiders Doing? 13\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 3 Book Value 17\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eBook Value Defined 18\u003c\/p\u003e \u003cp\u003eValue Assets Properly 18\u003c\/p\u003e \u003cp\u003eInvesting Using Book Value 19\u003c\/p\u003e \u003cp\u003eWhen Is Book Value Important? 19\u003c\/p\u003e \u003cp\u003eThe Value of Hidden Assets 20\u003c\/p\u003e \u003cp\u003eLimits of Book Value 21\u003c\/p\u003e \u003cp\u003eBuybacks Lower Book Value 22\u003c\/p\u003e \u003cp\u003eHistorical Research 22\u003c\/p\u003e \u003cp\u003ePrice to Book Value: A Good Measure 24\u003c\/p\u003e \u003cp\u003eSmall Caps: Best Choice 25\u003c\/p\u003e \u003cp\u003eLow Stock Price Rules! 27\u003c\/p\u003e \u003cp\u003eBook Value and Return on Equity 28\u003c\/p\u003e \u003cp\u003eWhat Is the Best Price to Book Value? 29\u003c\/p\u003e \u003cp\u003eCombinations and Performance 30\u003c\/p\u003e \u003cp\u003eTrading Strategy: Beating the Dow 31\u003c\/p\u003e \u003cp\u003eThe Eight-Stock Setup 32\u003c\/p\u003e \u003cp\u003eHold Time for Best Results 34\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 4 Capital Spending 37\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eIs Decreasing Capital Spending the Holy Grail? 37\u003c\/p\u003e \u003cp\u003eCapital Spending Trends versus Performance 38\u003c\/p\u003e \u003cp\u003eFrequency Distribution 39\u003c\/p\u003e \u003cp\u003ePerformance by Market Cap 40\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 5 Cash Flow 43\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHistorical Research Review 44\u003c\/p\u003e \u003cp\u003eCooking the Books 45\u003c\/p\u003e \u003cp\u003eThe Numbers 46\u003c\/p\u003e \u003cp\u003eIs Increasing Cash Flow Good? 46\u003c\/p\u003e \u003cp\u003ePerformance by Market Cap 48\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 6 Dividends 51\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eStock Dividends: An Explanation 52\u003c\/p\u003e \u003cp\u003eHistorical Research Review 52\u003c\/p\u003e \u003cp\u003eHigh Yield, High Performance? 53\u003c\/p\u003e \u003cp\u003eTesting: Yield and Payout Ratio 54\u003c\/p\u003e \u003cp\u003eWhich Is Best: Dividends or No Dividends? 55\u003c\/p\u003e \u003cp\u003eSurprise: Dividend Cuts Work! 55\u003c\/p\u003e \u003cp\u003eWhen Disaster Strikes 57\u003c\/p\u003e \u003cp\u003ePerformance by Market Cap 58\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 7 Long-Term Debt 61\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Numbers 61\u003c\/p\u003e \u003cp\u003eIs Debt Good? 62\u003c\/p\u003e \u003cp\u003eSinking Ship: Taking on Debt 62\u003c\/p\u003e \u003cp\u003eDebt by Market Capitalization 63\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 8 Price-to-Earnings Ratio 67\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHistory Lesson 67\u003c\/p\u003e \u003cp\u003eDo Low P\/E Stocks Outperform? 68\u003c\/p\u003e \u003cp\u003eP\/E Trends Down: Good or Bad? 69\u003c\/p\u003e \u003cp\u003ePrice and Earnings Combinations: Yawn 69\u003c\/p\u003e \u003cp\u003eBuy Small Caps with Low P\/E 70\u003c\/p\u003e \u003cp\u003eHigh P\/E: Time to Sell? 71\u003c\/p\u003e \u003cp\u003eThree P\/E Tips 71\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 9 Price-to-Sales Ratio 73\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eGood Benchmark: PSRs Below 1.0 74\u003c\/p\u003e \u003cp\u003ePSR Trend: Down Is Best 75\u003c\/p\u003e \u003cp\u003eSmall Caps, Small PSRs Rule! 75\u003c\/p\u003e \u003cp\u003eChecklist: PSRs by Industry 77\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 10 Return on Shareholders’ Equity 81\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eLow ROE Stocks Outperform: Why? 82\u003c\/p\u003e \u003cp\u003eROE Trend Over Time: Yawn 83\u003c\/p\u003e \u003cp\u003eROE Performance by Market Capitalization 83\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 11 Shares Outstanding 85\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePerformance versus Shares Outstanding 85\u003c\/p\u003e \u003cp\u003eEvent Pattern: Dutch Auction Tender Offers 87\u003c\/p\u003e \u003cp\u003eShould You Sell? 87\u003c\/p\u003e \u003cp\u003eSell at What Price? 90\u003c\/p\u003e \u003cp\u003eEvent Pattern: Common Stock Offerings 91\u003c\/p\u003e \u003cp\u003ePerformance and Market Capitalization 93\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 12 Fundamental Analysis Summary 95\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003ePerformance Rank: One-Year Hold 95\u003c\/p\u003e \u003cp\u003ePerformance Rank: Three-Year Hold 97\u003c\/p\u003e \u003cp\u003ePerformance Rank: Five-Year Hold 99\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 13 How to Double Your Money 101\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Long to Double? 101\u003c\/p\u003e \u003cp\u003eWhat Is the Best Buy Price? 102\u003c\/p\u003e \u003cp\u003eWhich Market Caps Do Best? 103\u003c\/p\u003e \u003cp\u003eFocus on Fundamentals: Which Are Best? 104\u003c\/p\u003e \u003cp\u003eWarning: Losses Ahead. What You Need to Know 110\u003c\/p\u003e \u003cp\u003eTesting the Setup 112\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 14 Finding 10-Baggers 115\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eHow Long to 10x? 116\u003c\/p\u003e \u003cp\u003eWhat Is Highest Starting Price? 116\u003c\/p\u003e \u003cp\u003eWhat Happens the First Year? 117\u003c\/p\u003e \u003cp\u003eRising Over Time: How Fast? 118\u003c\/p\u003e \u003cp\u003e10‐Baggers by Market Cap 119\u003c\/p\u003e \u003cp\u003eFundamental Ratios Common to 10‐Baggers 119\u003c\/p\u003e \u003cp\u003eIndustries Most Likely to Make 10‐Baggers 127\u003c\/p\u003e \u003cp\u003eThe Most Popular Years for 10‐Baggers 128\u003c\/p\u003e \u003cp\u003eSurprising Finding about 10‐Bagger Losses 129\u003c\/p\u003e \u003cp\u003eBackward Testing 129\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 15 Trading 10-Baggers 133\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e10‐Bagger Birth 133\u003c\/p\u003e \u003cp\u003eLife of a 10‐Bagger 139\u003c\/p\u003e \u003cp\u003e10‐Bagger Death 150\u003c\/p\u003e \u003cp\u003eChart Patterns in 10‐Baggers 152\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 16 Selling Buy and Hold 161\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Weinstein Setup 161\u003c\/p\u003e \u003cp\u003eExample: The Southwest Airlines Trade 165\u003c\/p\u003e \u003cp\u003eExample: Savient Pharmaceuticals 167\u003c\/p\u003e \u003cp\u003e1‐2‐3 Trend Change for Downtrends 168\u003c\/p\u003e \u003cp\u003e1‐2‐3 Trend Change for Uptrends 170\u003c\/p\u003e \u003cp\u003eThe Cloudbank Setup 172\u003c\/p\u003e \u003cp\u003eUsing Trailing Stops to Sell 178\u003c\/p\u003e \u003cp\u003eTimely Trend‐Line Exits 180\u003c\/p\u003e \u003cp\u003eCan Moving Averages Help? 181\u003c\/p\u003e \u003cp\u003eFollow Insider Transactions 183\u003c\/p\u003e \u003cp\u003eSelling: Two Ratio Tips 184\u003c\/p\u003e \u003cp\u003eSelling Down from a High 185\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 17 Fundamentals: What I Use 189\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eTwo Book Value Tips 190\u003c\/p\u003e \u003cp\u003eDo Not Get Singed by Burn Rate 190\u003c\/p\u003e \u003cp\u003eDrop Capital Spending! 191\u003c\/p\u003e \u003cp\u003eCurrent Ratio 2.0 191\u003c\/p\u003e \u003cp\u003eProspecting for Growth Using Dividends 191\u003c\/p\u003e \u003cp\u003eRising Earnings, Net Profit 192\u003c\/p\u003e \u003cp\u003eP\/E Ratio versus Industry 192\u003c\/p\u003e \u003cp\u003eLitigation: Stop Pissing People Off! 193\u003c\/p\u003e \u003cp\u003eAvoid Too Much Long‐Term Debt 193\u003c\/p\u003e \u003cp\u003eMarket Capitalization: Big Returns by Going Small 194\u003c\/p\u003e \u003cp\u003eResearch Spending 194\u003c\/p\u003e \u003cp\u003eSales? Think Money 195\u003c\/p\u003e \u003cp\u003ePrice‐to‐Sales Ratio: What About Debt? 195\u003c\/p\u003e \u003cp\u003eStock Price: 5 to 20 195\u003c\/p\u003e \u003cp\u003eVolume: Thin Ice Ahead! 196\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 18 Introduction to Position Trading 199\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is Position Trading? 199\u003c\/p\u003e \u003cp\u003eWho Should Position Trade and Why? 200\u003c\/p\u003e \u003cp\u003eWhat Position Trading Will Not Do 202\u003c\/p\u003e \u003cp\u003eExample Position Trade 202\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 19 Getting Started in Position Trading 207\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eCheck the News or Lose! 208\u003c\/p\u003e \u003cp\u003eTrend? What Trend? 209\u003c\/p\u003e \u003cp\u003eTrade with the Primary Trend 211\u003c\/p\u003e \u003cp\u003eTake Your Pick: Bottom Fishing or Momentum? 212\u003c\/p\u003e \u003cp\u003eWhat Is Market Influence on Stocks? 213\u003c\/p\u003e \u003cp\u003eWhat Chart Patterns Are Best for Position Trades? 214\u003c\/p\u003e \u003cp\u003eBusted Chart Patterns Revisited 216\u003c\/p\u003e \u003cp\u003eTrading Example: Finding Value in Disaster 218\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 20 Ten Factors Make Chart Patterns Work 223\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eWhat Is a Double Bottom? 224\u003c\/p\u003e \u003cp\u003eTen Factors Revealed 226\u003c\/p\u003e \u003cp\u003eScoring System Checklist 232\u003c\/p\u003e \u003cp\u003eScoring Performance 232\u003c\/p\u003e \u003cp\u003eHigher Scores Work Best 234\u003c\/p\u003e \u003cp\u003eCase Study: Stillwater Mining 235\u003c\/p\u003e \u003cp\u003eCase Study: LSB Industries 237\u003c\/p\u003e \u003cp\u003eCase Study: Lumber Liquidators 238\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 21 Three Winning Trades and a Funeral 243\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eThe Intel Fiasco 244\u003c\/p\u003e \u003cp\u003eHudson Highland Hiccup 245\u003c\/p\u003e \u003cp\u003eCNO Financial Group 248\u003c\/p\u003e \u003cp\u003eComplete Production Services 250\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 22 What Not to Do: Three Botched Trades 255\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eMedivation: Selling Too Late 255\u003c\/p\u003e \u003cp\u003eColdwater Creek: Selling Too Soon 258\u003c\/p\u003e \u003cp\u003eHovnanian: Selling at the Bottom 260\u003c\/p\u003e \u003cp\u003e\u003cb\u003eChapter 23 What We Learned 265\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eVisual Appendix of Chart Patterns 283\u003c\/p\u003e \u003cp\u003eBibliography 289\u003c\/p\u003e \u003cp\u003eAbout the Author 293\u003c\/p\u003e \u003cp\u003eIndex 295\u003c\/p\u003e  \u003cp\u003e“The three books in this series were written for people unfamiliar with the inner workings of the stock market, but will still curl the toes of professionals, too. Research is used to prove the ideas discussed, but is presented in an easy to understand and light-hearted manner. You will find the books to be as entertaining as they are informative and packed with moneymaking tips and ideas. Use the ideas presented here to hone your trading style and improve your success. Whether you are a novice who has never purchased a stock but wants to, or a professional money manager who trades daily, these books are a necessary addition to any market enthusiast’s bookshelf.”\u003cbr\u003e —\u003cb\u003eAlan Battista\u003c\/b\u003e, Stockineer.com Book Review\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eTHOMAS N. BULKOWSKI\u003c\/b\u003e is a successful investor with thirty years of experience in the stock market. He is also the author of the Wiley titles, \u003ci\u003eEncyclopedia of Candlestick Charts, Encyclopedia of Chart Patterns, Getting Started in Chart Patterns, Trading Classic Chart Patterns\u003c\/i\u003e, and \u003ci\u003eVisual Guide to Chart Patterns\u003c\/i\u003e. Bulkowski is also a contributor to \u003ci\u003eActive Trader, Technical Analysis of Stocks \u0026amp; Commodities\u003c\/i\u003e, and other publications worldwide. Before earning enough from his investments to retire from his day job at age 36, Bulkowski was a hardware design engineer with Raytheon and a senior software engineer for Tandy Corporation.\u003c\/p\u003e  \u003cp\u003e\u003ci\u003eFundamental Analysis and Position Trading\u003c\/i\u003e is the second volume in the \u003ci\u003eEvolution of a Trader\u003c\/i\u003e series. It is the ideal guide for those interested in building long-term wealth using the buy-and-hold strategy favored by legendary investors such as Warren Buffett and Ben Graham. It also features additional coverage of position trading, a popular trading style among today's value investors.\u003c\/p\u003e \u003cp\u003eIn the first part of the book, Bulkowski gets you up to speed on the full range of fundamental factors involved in buy-and-hold stock selection, including book value, price-to-earnings ratio, capital spending, cash flow, dividends, long-term debt, price-to-sales ratio, shares outstanding, return on shareholder equity, and more. He provides priceless tips on how long to hold and how to know when it's time to sell. The book includes handy tables matching fundamental factors against various hold times and showing which factor is most important for a particular hold time.\u003c\/p\u003e \u003cp\u003ePopular chapters include how to double your money, finding and trading 10-baggers (stocks that increase in value tenfold), and selling buy-and-hold stocks.\u003c\/p\u003e \u003cp\u003eThe second part explores position trading. It introduces market timing to help remove the risk of buying and holding a stock for years. With the help of real-world trading examples, Bulkowski begins with the basics of market timing and offers priceless insights into the ways in which market trends influence stock prices. He arms you with an array of powerful chart patterns and reveals the ten most important factors that make chart patterns work. And he combines those factors into a scoring system to help boost your effectiveness—and your profits—as a position trader.\u003c\/p\u003e \u003cp\u003eBulkowski's work sets an example for how financial books should be written. He doesn't just repeat what others have said. Rather, he investigates and researches his facts before teaching the reader in an entertaining and informative style that is accessible for beginners and professionals.\u003c\/p\u003e \u003cp\u003eWhether you're just getting started in investing or you're searching for new ways to increase the value of your portfolio and manage risk, \u003ci\u003eFundamental Analysis and Position Trading: Evolution of a Trader\u003c\/i\u003e is your ticket to long-term financial success.\u003c\/p\u003e \u003cp\u003eThe series \u003ci\u003eEvolution of a Trader\u003c\/i\u003e explores four trading styles that people use when learning to invest in the stock market. Often, beginners enter the stock market by\u003c\/p\u003e \u003col\u003e \u003cli\u003e\n\u003cb\u003eBuying and holding\u003c\/b\u003e on to a stock. That works well until a bear market begins. Then they try\u003c\/li\u003e \u003cli\u003e\n\u003cb\u003ePosition trading\u003c\/b\u003e. This seeks to exit positions before a significant trend change occurs.\u003c\/li\u003e \u003cli\u003e\n\u003cb\u003eSwing trading\u003c\/b\u003e follows when traders try to catch short-term swings. Finally, people try\u003c\/li\u003e \u003cli\u003e\n\u003cb\u003eDay trading\u003c\/b\u003e by completing their trades in a single day.\u003c\/li\u003e \u003c\/ol\u003e \u003cp\u003eThis series takes a detailed look at each of the four styles by offering numerous tips, sharing discoveries, and discussing specific trading techniques to help the reader be successful as they journey through each style.\u003c\/p\u003e \u003cp\u003eThe first book, \u003cb\u003eTrading Basics\u003c\/b\u003e, takes an in-depth look at money management, stops, support, and resistance, and offers dozens of tips every trader should know.\u003c\/p\u003e \u003cp\u003eThe second book, \u003cb\u003eFundamental Analysis and Position Trading\u003c\/b\u003e, explains value investing and tests fundamental factors, such as book value, price-to-earnings, and price-to-sales ratios, to see how important they are to stock selection and performance. Chapters such as \"How to Double Your Money,\" \"Finding 10-Baggers,\" and \"Trading 10-Baggers\" put the fundamentals to work. Position trading introduces market timing to help remove the risk of buying and holding a stock for years.\u003c\/p\u003e \u003cp\u003eThe third book in the series, \u003cb\u003eSwing and Day Trading\u003c\/b\u003e, explains how to use chart patterns to swing and day trade. It reviews the basics, including the home office setup and the cost of day trading, and drills down into specific trading strategies such as the opening range breakout and the opening gap setup. It introduces new research on major reversal times and the time most likely to set the day's high and low. That is valuable information to a day trader.\u003c\/p\u003e \u003cp\u003eWhether you are a novice who has never purchased a stock but wants to, or a professional money manager, these books are a necessary addition to any market enthusiast's bookshelf.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989254389989,"sku":"NP9781118464205","price":79.0,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9781118464205.jpg?v=1761783393","url":"https:\/\/k12savings.com\/products\/fundamental-analysis-and-position-trading-isbn-9781118464205","provider":"K12savings","version":"1.0","type":"link"}