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My Book Reviews

Category: Introduction to stocks
Published: 1993
Read: 1994
Reviewed: Sep 2009

This is a book that I received free from the New York Institute of Finance (whatever that is) when I first started trading in 1992. The book has 3 parts. The first talks about stocks (what stocks are, how IPOs work, etc). The second part talks about the microstructure of the market (what happens to an order after it is submitted, what specialists do, etc). And the third section quickly touches on stock market theories.

This book may have had some value back in the early 90's when there weren't many books about investing but today it has very little value. If this is the very first book you are reading about the market, then it will be useful in the sense that ANY book would be useful. The book has a somewhat inaccurate title. Technically speaking, the title is not misleading, but many readers will assume that the book teaches strategies and techniques, which it doesn't. This book makes the mistake that many older investing books make, by wasting time with un-needed lessons about the micro-structure of the market. Beginning investors don't need to know how Wall Street works behind the scenes.

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