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You
want to beat me at my own game? You want to learn what I know and
apply it to make big money? I don't blame you. The stock market
can be a great place to make money. But what resources are you going
to do it with? Are you going to try to beat me with the books that
are out there now, the ones that clog the shelves and teach you
what you already know or what you'll never even need to understand?
I don't think so.
Ever
since we started TheStreet.com five years ago, we have pushed to
give you everything that the top professionals have to make money.
We have attempted to level the playing field wherever it may be
tilted in favor of the cloistered group of moneymen that has so
long dominated Wall Street.
It's
hard to believe that in a day when we see commercials about nail
salons that are hotbeds of day trading or English-as-a-second-language
classes that discuss low commissions, there was a time when it would
have been plain wrong to even suggest that people control their
finances themselves.
When
I worked at Goldman Sachs in the early 1980s, I felt that the professionals
had so many advantages over the individual that it would be financial
suicide to do anything but turn your assets over to your betters.
We had instant information about stocks. We had vast libraries where
you could call up microfiche sheets with the latest financials.
We had newspapers and magazines that contained new information about
stocks that only true stock junkies would have the time and inclination
to sort through. Plus, commissions were prohibitive, so individual
trading costs were too expensive to justify.
All
of that has changed. The Web has put everything I had at 85 Broad
Street (the headquarters of Goldman, just a block from the New York
Stock Exchange) at your fingertips. Commissions are rock bottom
and at times nonexistent. There are whole Web periodicals devoted
solely to making the individual equal to the professional when it
comes to running money.Of course, not everyone has the time or the
inclination to manage their finances. But we have also learned in
the last decade that farming out your finances and forgetting about
them can be plainly irresponsible. Clients who want others to handle
their money need to keep the handlers honest. You have to be either
a smarter client or a smarter investor. Ignorance is no longer an
option. There is too much of your money on the line and too many
ways available to all to be sure you are getting the best service.
Can
you really learn options to the point of trading them? Do you understand
what really moves stocks? Do you have any sense of when to sell?
Most of the time, this stuff does fly over people's heads. But we
at TheStreet.com have, from day one, made it our mission to demystify
and democratize the process. This is the first plain-English investment
guide I have ever seen. It is fitting that the folks who put investing
in plain English on the Web would now do the same with the printed
word.
Every
day I communicate with hundreds of people, ranging from neophytes
to grizzled vets, about the stock market. I can't tell you how often
they have asked me for help in trying to understand the relationship
between stocks and bonds, or the options and common stock markets,
or the choice of growth or value stocks. I am always at a loss to
say to them anything other than "read TheStreet.com Web site."
Now, in TheStreet.com Guide to Smart Investing in the Internet
Era, we have an easy-to-use guidebook to the markets, a one-stop
summation of everything you need to outsmart me and all of the other
pros battling to try to beat the market. You want to learn how to
set up the ideal portfolio? It's here. You want to identify the
best tech stocks? It's here. You want to understand how to examine
balance sheets and sniff out problems or opportunities? It's here.
You want to trade options like a pro? It's here, too.
Almost
every question I've been asked is answered in these pages, and it
won't take you more than a few seconds to find the passages that
you need to figure things out. So many books tell you how to "get
started." So many offer glib assertions and easy tricks and
gimmicks that end up backfiring and costing you money. This book
speaks in plain English about strategies that win. It may not teach
you what you could learn if you sat in at my hedge fund for a good
stretch, but you won't have the bruises and the heartache either!
What
are you waiting for? Get in there and get dirty. Understand the
concepts that can make you money or allow you to grade others who
are supposed to be doing it for you.
Get
started learning how to match wits with the pros. With TheStreet.com
Guide to Smart Investing in the Internet Era, you have the game
plan. Read it, put it into action, and let's go make some money
together.
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