| Book Selections |
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Screening the Market
Marc H. Gerstein
No matter how good you are at reading stock price charts, understanding business dynamics, or deciphering financial statements, you'll never achieve investment success if you apply your skills to stocks that aren't really worthy of being looked at in the first place. That, according to Marc Gerstein, a former securities analyst and now research consultant for Portfolio123, is why stock screening is important.
This book walks you through a four-step strategy for finding, analyzing, buying and selling stocks that emphasizes real-world do-ability and is based entirely on the principles of stock screening.
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Quantitative Strategies for Achieving Alpha
Richard Tortoriello
Alpha, higher-than-expected returns generated by an investment strategy, is the holy grail of the investment world. Achieve alpha, and you've beaten the market on a risk-adjusted basis. Quantitative Strategies for Achieving Alpha was borne from equity analyst Richard Tortoriello's efforts to create a series of quantitative stock selection models for his company, Standard & Poor's, and produce a road map of the market from a quantitative point of view.
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Fire Your Stock Analyst
Harry Domash
This new stock analysis book describes a systematic approach
to stock investing that distills and combines the best
techniques from the world's leading money managers, and
gives you all the tools you need to pick your own winning
stocks, and equally important, when to sell.
San Francisco Chronicle and MSN Money investment columnist
Harry Domash describes two separate stock selection
strategies, one for value and the other for growth
investors?and shows you exactly how to implement each one.
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The Inefficient Stock Market
Robert A. Haugen
According to Modern Finance, an efficient market always prices every stock correctly. The price of a stock is continually adjusted with
the latest information on the company, and the expected return is perfectly fair given the risk.
"The Inefficient Stock Market" is a nice slap in the face to Modern Finance. Mr. Haugen provides a
great analysis and statistical evidence to show that many of those critical assumptions are in fact wrong.
He also provides a factor model that shows an expected 20 year annualized performance of 32% for
the highest ranked stocks compared to 18% for the S&P 500.
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| Further Reading |
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The Street's Slickest Number-Crunchers
BusinessWeek article by Amey Stone, Sep 30 2003 |
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Four Things I Hate About Mutual Funds
TheStreet.com article by Stephen Schurr, July 28 2003 |
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Mutual Funds: What's Wrong
BusinessWeek article by Jeffrey M. Laderman, Jan 24 2000 |
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Data Mining
Investor Relations Quarterly by Grant McQueen and Steven Thorley, Jan 2000 |
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Schwab to Offer Research Using Objective Methods
Wall Street article by Susanne Craig, May 17 2002 |
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