I know most of the community here consists of active traders (I am in that group, too), but I just released a book on stock market investing that seems to resonate with beginners and advanced traders alike. Some recent reviews: "Highly recommended. Especially for people trying to figure out how to make money buying stocks." "I wish I've had this gem before placing my first trade a long time ago." "A ton of useful information presented in a very simple and easy to understand read. Highly recommend!" "Overall, a great read with practical advice" "Another great book by Kevin Davey" More info here: https://amzn.to/2MICHKS https://amzn.to/2MICHKS
I don't mean this disrespectfully so please don't take it that way. I am legitimately curious. With all of the other trading books coming out for this cohort (semi-obviously capitalizing on free trades), and all of the classics of investing that are geared towards this group (CAN SLIM, The Intelligent Investor [with annotations], Security Analysis) how does this book improve upon already existing material? I would generally feel safer recommending any of the time-tested classics over these, so it would be interesting to hear from the author how his book stacks up against them.
Thanks for the question. I'll explain... This book started off with an idea: "how do I teach my pre-teens about stock investing?" Conventional wisdom says "start investing while you are young." The idea grew from there and evolved. The basic premise of the book is that one should invest at a level relative to their interests and available time. No time to work on investing? Level 1 (Buy SPY) is perfect. Have more time and desire, then maybe picking your own stocks (Level 5) is a good landing spot. Experts can write algos (Level 7). The point is everyone can and should be investing in the market. How involved you get is up to each person. Of course, my little book (under 2 hour read) will never be a classic. But I do think it can help people-it can get them on the road to investing. Some of the classics are likely way too intimidating for most people, especially those with little experience in the field. I doubt anyone will consider my book too intimidating. Side note: My 8th grader brought the book to school today, and his classmates AND his teachers were all trying to "borrow" his copy. Thanks again for asking. Good question!
Entirely fair question (IMO). I would offer my own observations: over time, Kevin has offered a number of posts to the ET community that have uniformly, • lacked any sort of magical thinking -- no bullshit, horseshit, chickenshit -- just • straight-ahead answers that involve clear-headed thinking, cold-hearted evaluation, and level-headed implementation. All that Sciencey Stuff is backed up by not only your own analysis on your own computer, but by trading awards of various kinds when he's bothered to pursue them. Kevin (as do 3-4 others here on ET) demonstrates three things that I admire: • the chops to get it done • the rigor to keep it going • the Executive Acuity to write it all down, and package it in a way that might be useful to others. So, I "follow" Kevin (and these other guys) here on ET -- not that I see that that designation does anything -- I've never gotten a message when they post, never an alert when I log into ET that activity with/by them was highlighted... Nothing. But *I* know that I've "followed" them. That matters, right?? EDIT: See? See? Just what I mean.......
That's why Americans are (still) at the top of the food chain: marketing, marketing, marketing. Just a thought though: how do you sell someone the idea that US equities will rise for another 30 years. I mean to someone who clearly sees a competitor on the horizon who will take over in just a few years, and on the other side an aging empire, infrastructure and social fabric wise. And is there anyone under the sun who does not understand the concept of compounding returns and doing what suits one's skill level and experience? Most folks out there are very well advised to never ever touch stocks themselves and to either let a professional allocate the right asset class mix or to otherwise just buy into index ETFs. Am I missing something? This book plug by some just made me a little curious.
Thanks for the comment. I consider ETFs to be part of the stock market, and I agree that many people should just stick with those (an ETF portfolio is what I suggest in book for someone with not much time for investing). For example, with your concerns on aging and a competitor on the horizon, healthcare ETFs and international ETFs might be the way to go. It doesn't just have to be buying US stocks. Thanks!
Hello Kevin, Just a FYI for everyone, Kevin is a very nice and helpful man. Good person, he helped me alot in my automated trading days and I did purchase his first book. Does the book cover swing trading?
Thanks for the kind words SimpleMeLike. I appreciate it! I don't really talk about swing trading in this book. It is more of an investing book, as opposed to an active trading book. There is a chapter on algo trading, which would include swing trading, but that is more of a "taste" than an actual meal. The core idea of the book: every investor/trader has a certain amount of time to dedicate to investing, and has a certain desire/aptitude (some people like to "solve" the market and be very active, others just want to participate). Based on those criteria, these is a level for each person. I call it "The Stock Picking Pyramid." Example 1: My mom, when she invested, was scared to death of stocks, and did not want to learn about them, so she created her own diversified mutual fund portfolio instead. Example 2: My kids aren't going to algo trade right now, but they really enjoy picking stocks of companies they know and use (Apple, Activision, etc). By the way, the book is free to read, if you have Kindle Unlimited.
Thank you for the response. I like the thought process of just teaching everyone what is stock investing and the different ways to invest.