This book, by Nassim Nicholas Taleb, was very entertaining and definitely influenced my way of thinking. That being said, the whole work was not completely relevant to trading and where it was, it tended to be redundant. The whole book can probably be boiled down to the single lesson of keeping an open mind. The difference though is that this one lesson that I'm sure everyone has heard, is now being framed in the context of probability which is what makes this book unique.
I would definitely recommend reading this but it is probably best suited to the coffee table rather than your bookshelf of trading materials. The author himself is, or rather was, a trader though so it's not as if the book never relates the ideas back to trading. It does on occasion but the lessons are so broad that they aren't really able to be applied to single trades. Rather, the hope is that you will alter your mindset so as to trade more carefully and understand the influence of what seems highly unlikely.
Small Cap trade ideas and other tools that can help the average trader earn some extra money or just discover something new and helpful.
Showing posts with label book. Show all posts
Showing posts with label book. Show all posts
Sunday, March 25, 2012
Saturday, March 24, 2012
Review: How to make money in biotech stocks
This book by Mike Havrilla and Mark Messier is essentially an infomercial for biorunup.com. While it does have some original content of it's own, I don't think this book is worth much more than $6. Nearly half of the books pages are profiles of biotech companies that were only relevant at the time of the book's release. Thus nearly half of the book is completely worthless.
The value of this book is the explanation of the process in which drugs are approved by the FDA and how that affects the stock price. The process is made clear and the glossary is also well done which makes the book a decent reference for various drug trial events.
While the book offers some interesting strategies, it by no means allows you to perform them using this book alone and instead expects you to buy into their website subscription which I am not a member of so I can't comment on the value of the website. Based on the lack of foresight that went into the making of this book though, I am not interested in trying out their service.
The value of this book is the explanation of the process in which drugs are approved by the FDA and how that affects the stock price. The process is made clear and the glossary is also well done which makes the book a decent reference for various drug trial events.
While the book offers some interesting strategies, it by no means allows you to perform them using this book alone and instead expects you to buy into their website subscription which I am not a member of so I can't comment on the value of the website. Based on the lack of foresight that went into the making of this book though, I am not interested in trying out their service.
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