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Mutual Funds, and Real Estate 7700++ DDVVDD’’ss FFOORR SSAALLEE && EEXXCCHHAANNGGEE www.traders-software.com www.forex-warez.com www.trading-software-collection.com www.tradestation-download-free.com Contacts [email protected] [email protected] Skype: andreybbrv 10381_Sincere_fm.c 7/18/03 10:59 AM Page i UNDERSTANDING STOCKS Michael Sincere ebook_copyright 8 x 10.qxd 8/27/03 9:29 AM Page 1 Copyright © 2004 by The McGraw-Hill Companies, Inc. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a data- base or retrieval system, without the prior written permission of the publisher. 0-07-143582-4 The material in this eBook also appears in the print version of this title: 0-07-140913-0 All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales pro- motions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at [email protected] or (212) 904-4069. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and the right to store and retrieve one copy of the work, you may not decompile, disassemble, reverse engineer, reproduce, modify, create derivative works based upon, transmit, distribute, disseminate, sell, publish or sublicense the work or any part of it without McGraw-Hill’s prior consent. You may use the work for your own noncommercial and personal use; any other use of the work is strictly prohibited. Your right to use the work may be terminated if you fail to comply with these terms. THE WORK IS PROVIDED “AS IS”. McGRAW-HILL AND ITS LICENSORS MAKE NO GUAR- ANTEES OR WARRANTIES AS TO THE ACCURACY, ADEQUACY OR COMPLETENESS OF OR RESULTS TO BE OBTAINED FROM USING THE WORK, INCLUDING ANY INFORMA- TION THAT CAN BE ACCESSED THROUGH THE WORK VIA HYPERLINK OR OTHERWISE, AND EXPRESSLY DISCLAIM ANY WARRANTY, EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. McGraw-Hill and its licensors do not warrant or guarantee that the func- tions contained in the work will meet your requirements or that its operation will be uninterrupted or error free. Neither McGraw-Hill nor its licensors shall be liable to you or anyone else for any inac- curacy, error or omission, regardless of cause, in the work or for any damages resulting therefrom. McGraw-Hill has no responsibility for the content of any information accessed through the work. Under no circumstances shall McGraw-Hill and/or its licensors be liable for any indirect, incidental, special, punitive, consequential or similar damages that result from the use of or inability to use the work, even if any of them has been advised of the possibility of such damages. This limitation of lia- bility shall apply to any claim or cause whatsoever whether such claim or cause arises in contract, tort or otherwise. DOI: 10.1036/0071435824 DOI Page 6x9 10/2/02 1:33 PM Page 1 Want to learn more? , We hope you enjoy this McGraw-Hill eBook! If you d like more information about this book, its author, or related books and websites, please click here. 10381_Sincere_fm.c 7/18/03 10:59 AM Page iii For more information about. this title, click here. Contents Acknowledgments v Introduction vii PART O NE WHAT YOU NEED TO KNOW FIRST 1 Welcome to the Stock Market 3 2 Stocks: Not Your Only Investment 19 3 How to Classify Stocks 29 4 Fun Things You Can Do (with Stocks) 37 5 Understanding Stock Prices 49 6 Where to Buy Stocks 55 PART T WO MONEY-MAKING STRATEGIES 7 Want to Make Money Slowly? Try These Investment Strategies 69 8 Want to Make Money Fast? Try These Trading Strategies 77 Copyright © 2004 by The McGraw-Hill Companies, Inc. Click here for Terms of Use. 10381_Sincere_fm.c 7/18/03 10:59 AM Page iv iv CONTENTS PART T HREE FINDING STOCKS TO BUY AND SELL 9 It’s Really Fundamental: Introduction to Fundamental Analysis 89 10 Fundamental Analysis: Tools and Tactics 97 11 Let’s Get Technical: Introduction to Technical Analysis 107 12 Technical Analysis: Tools and Tactics 131 13 The Psychology of Stocks: Introduction to Sentiment Analysis 141 PART F OUR UNCOMMON ADVICE 14 What Makes Stocks Go Up or Down 149 15 Why Investors Lose Money 157 16 What I Really Think about the Stock Market 171 Index 189 10381_Sincere_fm.c 7/18/03 10:59 AM Page v Acknowledgments I’d like to give special thanks: To Stephen Isaacs and Jeffrey Krames at McGraw-Hill for once again giving me the opportunity to do what I love most, and to Pattie Amoroso for helping me put the pieces together to produce a book. To my researcher, Maria Schmidt, who found the answer to nearly everything I asked; Tine Claes, who never fails to find something that needs improvement; and Lois Sincere, who has truly mastered the idio- syncrasies of the English language. ToTom Reid, a teacher at Deerfield High School in Florida, for help- ing to make the most complicated financial concepts seem easy; student Bailey Brooks for helping with editing; Dan Larkin, CEO and senior consultant for Larkin Industries, Inc., for his extremely insightful sug- gestions and comments; Mike Fredericks, Brad Northern, and Howard Kornstein for their thoughtful financial analysis and insights; Colleen McCluney for her encouragement and patience; and Oksana Smirnova for her inspiration and enthusiasm. To the hardworking and friendly staff at Barnes & Noble bookstore and Starbucks in Boca Raton, Florida. Finally, to my friends, family, and acquaintances: Idil Baran, Krista Barth, Bruce Berger, Andrew Brownsword, Sylvia Coppersmith, Lourdes Fernandez-Vidal, Alice Fibigrova, Joe Harwood, Jackie Krasner, Johan Nilsson, Joanne Pessin, Hal Plotkin, Anna Ridolfo, Tim Schenden, Tina Siegismund, Luigi Silverstri, Alex Sincere, Debra Sincere, Miriam Sincere, Richard Sincere, Harvey Copyright © 2004 by The McGraw-Hill Companies, Inc. Click here for Terms of Use. 10381_Sincere_fm.c 7/18/03 10:59 AM Page vi vi ACKNOWLEDGMENTS Small, Bob Spector, Lucie Stejskalova, Deron Wagner, and Kerstin Woldorf. For additional reading, I recommend the following books: The Stock Market Course (John Wiley & Sons, 2001), by George Fontanills and Tom Gentile A Beginner’s Guide to Short-Term Trading (Adams Media Corpo- ration, 2002), by Toni Turner Reminiscences of a Stock Operator (John Wiley & Sons, 1994), by Edward Lefevre 10381_Sincere_fm.c 7/18/03 10:59 AM Page vii Introduction This book will be different. Thousands of books have already been written about the stock mar- ket, many of them technical and tedious. Before I wrote this book, I was amazed that so many boring books had been written about such a fas- cinating subject. Just like you, I hate reading books that put me to sleep by the second chapter. That is why I was so determined to write an entertaining, easy-to-read, and educational book about the market. I wanted to write a book that I can hand to you and say, “Read everything in this book if you want to learn quickly about stocks.” You don’t have to be a dummy, idiot, or fool to understand the market. You also don’t have to be a genius. After you read this book, you will real- ize that understanding stocks is not that hard. (The hard part is making money, but we’ll get to that later.) I also don’t think you should have to wade through 300 pages to learn about the market. Too many books on stocks are as thick as col- lege textbooks and not nearly as exciting. Even though this book is short, it is packed with information about investing and trading. I did my best to make sure that you would have a short and easy read. I wrote this book because I wanted you to know the truth. As I was writing, a corporate crime wave was sweeping across America. Dozens of corporations were accused of cheating people out of millions of dollars. It upset me that so many investors have become victims of the stock market. It seems as if the name of the game is entic- Copyright © 2004 by The McGraw-Hill Companies, Inc. Click here for Terms of Use. 10381_Sincere_fm.c 7/18/03 10:59 AM Page viii viii INTRODUCTION ing individual investors into the market so that they can be duped out of all their money. The insiders on Wall Street and in many corporations understand the rules and know how to use them to lure you into putting your money in the market. In this book, I promise to tell you the truth about how the markets operate. Without that knowledge, you hardly have a chance to win against the pros who do business on Wall Street. They go to work every day with one goal in mind: to take money away from you. Because the stock market is a brutal game that is often rigged in favor of the house, you should be quite sure you know what you’re up against before you invest your first dime.
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