The Art of Speculation
By Philip L. Carret
$37.99 hardcover; $12.99 paperback
This classic guide to the nuts and bolts of speculating in the market, assembled from a series of articles for Barron's, is still one of the best primers available for beginners ... and an excellent brush-up lesson for old hands. In clear-eyed, down-to-earth language, Carret discusses:
* what is speculation?
* why the investor must speculate
* how stocks resemble real estate
* trading on margin
* over-the-counter trading
* how to find a reliable broker
* the disadvantages of options
* the secret of the "sure-thing speculation"
* forecasting market swings
* understanding a bull market
* how to read a balance sheet
and much, much more.
PHILIP L. CARRET is a Wall Street legend, the founder of one of the first mutual funds - the Pioneer Fund, which debuted in 1928 - and a fount of knowledge and experience whose investing wisdom is acclaimed to this day.