Something I get asked about a lot is what are my favorite books about investing. So before I left for my summer vacation with the family, I filmed the video above about my favorite educational stock market book, William J. O’Neil’s “How to Make Money in Stocks.”
O’Neil is the founder of Investor’s Business Daily and the IBD 100, which is the all-star team of hot momentum stocks.
Summer is a great time to kick back and relax with a book, especially when traveling, and this is the one I go back to and reread a lot.
Not to mention… this market is dangerous so we should all pull back a bit and do some reading and learning, and O’Neil’s “How to Make Money in Stocks” is the perfect way to do just that.
O’Neil’s ‘How to Make Money in Stocks’: My Summer Book Report
What’s cool about this book is O’Neil gives you an insider’s look at how Wall Street works.
It covers the “CAN SLIM®” method for rating and buying and selling stocks… The explanation of CAN SLIM® is rather lengthy, so you’ll have to check out the book for all the info, but it’s well worth your time and it’s an easy read.
There are a lot of books out there that teach the technical side of trading stocks, but this one is so much better.
A lot of my trading systems are based on my experience. And of course that experience involves learning techniques used by hedge funds and big banks. I can’t even describe how much useful information you’ll get out of reading O’Neil’s “How to Make Money in Stocks.”
Once you read it, you’ll see that I’ve taken these lessons and gone a step further for a lot of our strategies.
And we’ve been seeing a lot of something he discusses in the book — how low-quality laggards ripping higher shows that a bull market is coming to an end. And, eventually, all of the former leaders will also succumb to selling.
That’s what we’ve been seeing for the past several months. This is why I’ve been preaching so much about having puts and trading from the short side, fighting with both hands.
This book helps you understand what sort of trading regime you’re in, so check out my summer book report video on O’Neil’s “How to Make Money in Stocks,” and let’s chat about this fantastic trading resource that I highly recommend everyone give a read.
It’s just magnificent and you can pick it up on Amazon for under $20, and on Kindle for less than $13. You can’t beat that!
Are there any topics you’d like to see me cover or questions you’d like answered? Send me an email at jeff@joyofthetrade.com! And be sure to stay ahead of the markets by subscribing to our YouTube channel and our Instagram page for all of the latest!
P.S. The ‘007’ of Financial Markets
Spying gets a bad wrap. On the surface, it sounds like a nefarious activity…
But what if your money is on the line?
And you knew who to spy on to get the intel on which stocks could rally?
In trading, spying isn’t frowned upon — it’s just hard to do…
Unless you know where to look!
