The Wealth Code: How the Rich Stay Rich in Good Times and Bad. Review

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(More customer reviews)Having been in this business too many years to admit to, I can tell you I've read book after book from the Wall Street talking heads. What you usually get is blah, blah, blah about the same old thing...asset allocation, make sure you own stocks and bonds to be "diversified," Nobel-Prize winning Modern Portfolio Theory, don't pay fees, blah, blah, blah. In this easy-to-read guide book, Vanclef comes out with a refreshing look at how wealth is built - and how to keep it in good and bad times. His multi-legged table metaphor really resonates as he explains how to keep different streams of income coming from different investments - and none, by the way, tied to the ups and downs of the stock market.
My favorite part was in Chapter 4 - a part called Brokerisms. What a laugh! And how true. For anyone who is fed up with what Wall Street know-it-alls spit out in the Journal, on Bloomberg or on CNBC, pick up this book and get the real deal - BRAVO to this author for having the guts to tell the truth!

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We entrusted the experts with our financial security and now we're reeling from the economic crisis. How do we get back on our feet'and invest wisely? In The Wealth Code: How the Rich Stay Rich in Good Times and Bad, financial planner and investment strategist Jason Vanclef delivers straight answers'and solutions. According to Vanclef, True Asset Class Diversification is the best way to build that solid financial base for your secure future. From an analysis of the downside of conventional thinking to the secrets of the Fortune 400, from diversification tactics to estate planning and improving returns on investments, Vanclef delivers a straightforward, hands-on plan not to cut your losses, but to maximize your investments. Do you truly have a handle on the bond market, stocks and mutual funds? How much of your assets belong in real estate, oil/gas, gold or other tangible investments? Insurance pitfalls not discussed? For the answers'and a sardonic poke at Wall Street'this is the book.

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Time Compression Trading: Exploiting Multiple Time Frames in Zero Sum Markets (Wiley Trading) Review

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(More customer reviews)I am very disappointed at this book. Not only have I wasted money on it, but time as well. This book has no new substance whatsoever. It does not provide any new helpful hints or strategies other than the basics every simple trader already knows.
I kept reading and reading, then after a hundred pages I started skimming just to reach something. What is the author suggesting to do to be more profitable at trades? And finally, there it comes. The "Theory of Time Compression". Guess what it is. It is basically this: don't trade utilizing short-term periods (5 minutes), trade utilizing long-term periods (days or weeks). Why? Because when you trade short term your TA signals deceive you and you won't see the big picture. That's it folks! That is the only message of the book!
I am shocked that such a book received 9 five stars out of the 10 that reviewed the book. I am even more shocked by the editorial review: "Reveals how to profit from the actions of market participants operating in different time frames". Really, who wrote this editorial review?
I am very disappointed.
LATER ADDITION:
After posting my comments, I received a response from the author that developed into arguments then took an ugly turn, because of the character of the author, who kept attacking and reducling me. I noticed he did the same with other purchasers who did not like this book. He kept writing in bad language and ill manners, accusing us of being "morons", "stupid", and "losers". His writing also demonstrated an abnormal personality, and he was always writing in exploding capital letters like an inexperienced kid with apparent frustration. If you trust an author who talks like that to his audience, then go ahead and buy the book. But believe me, you would be buying a book, with no substance at all. Save your money, and do a good research. There are plenty of trading books out there by respectable authors that you can benefit from. This book is a scam, don't buy it.
Please check his responses to me and those who gave him a bad rating, then make up your mind.
I also noticed something really suspicious. I decided to look at the reviewers who praised the book. Six of the nine that rated this book as 5 stars have never rated anything else on Amazon. Have they not read any other books on trading? Only two of those nine posted their real names. In addition, none of the nine explained in any way or detail how they were able to utilize the concepts in this book to make them better traders. I even had a response from a "potential" reader who was praising and defending the author and his ideas before he read any of his books!
Therefore here is my question to all those reviewers that gave this book 5 stars: Can you detail the process by which you became a better trader after reading this book? Help me and help potential readers who are deciding whether or not to buy the book for practical help. We all know there is no holy grail, but how exactly did this book help you to be a winner against the other losers?
Finally, I went to the author's website and found out that he advertises and sells a mechanical system that generates buy and sell signals clearly based on Technical Analysis (You can see a program similar to MetaStock with charts and buy and sell signals), while in this book he attacks Technical Analysis in a whole chapter titled "The Illusion of technical Analysis". So which is it Jankovsky?
Readers: Please beware. If you really want to read books that offer value and practical applications, I suggest the followings. These books have many top reviews, not only nine. And you won't find their authors cursing readers who gave their books low rating, and calling them names:
- "Long-Term Secrets of Short-Term Trading", by Larry Williams
- "Way of The Turtles", by Curtis Faith
- "Cybernetic Analysis for Stocks and Futures", by John F. Ehlers
- "High Probability Trading", by Marcel Link
Good luck everyone. Trust me, you can make money in the market. Just read for giants, not suspicious authors.


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Payback Time: Making Big Money Is the Best Revenge Review

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(More customer reviews)I've read Rule # 1 back when it first came out and I thought it was excellent. I'm about halfway done with Payback Time and so far 90% of the information is simply rehashed information from his first book. The one thing that appears to have changed is that MSN now apparently gives 10 year data for free, which was not available when Rule # 1 came out (back then you had to pay a third-party company to obtain 10-year data about a stock and MSN and Yahoo only offered 5-year data if I remember correctly). So if you haven't read either book and are wondering which one to pick up I would say go for the second one (Payback Time). If you've read Rule # 1, reading the second book certainly won't hurt for repetition sake, just don't expect any major new information. The concept of stockpiling is nothing revolutionary. Simply buy more shares when the price goes down. Wow. The one thing I did not like about Payback Time is how Phil is constantly directing the reader back to his website for every little piece of extra information. And he doesn't tell you what link on his site to click on for each piece of information so you end up randomly clicking on his site until you find what you're looking for (not to mention the fact that you have to register in order to use the site in the first place and it keeps on logging you out every few minutes for some reason).
Having said that, I still have to give credit to Phil for his clear writing style. He has a special ability to take complex information and making it understandable to the average person. I also like the fact that he gives his email address in the book and encourages readers to contact him with any questions. I like that type of service. I will update this review as soon as I'm done reading the book.
3/16/10: As a side note, I also have noticed, like others, that many of the raving reviews for this book sound fake (some almost sound like an infomercial) and are from users who have only reviewed a single item (i.e. this book).
4/1/10: In chapter 5, "Eight Baby Steps to Wealth", Phil walks you through a tool on MSN's website called "Deluxe (stock) Screener" (also known as "Supercharge your search"). It's supposed to be a free stock screener that lets you find companies that match Phil's criteria for great companies (saves you a ton of time). Unfortunately, this tool no longer exists (MSN retired it back in November of '09!). However, Phil recently posted an entry on his blog saying that you can find the exact same information on google's website. If you go to "Google Finance" look for Stock Screener. It's supposed to be just as good as MSN's Deluxe Screener. I will be playing around with this tool and will post an update soon.
5/26: Remember how I said that Phil gives out his email address in his book and encourages readers to ask him questions? Well, I sent him a question (regarding the use of Google Finance - see my post from 4/1) in late March all I got was an automated reply saying that someone would get back to me and no one ever did. So much for that. So if you have any questions, I would call the number listed on Phil's website. They will answer your questions.

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Don't get mad, get even… Phil Town's first book, the #1 New York Times bestseller Rule #1, was a guide to stock trading for people who believe they lack the knowledge to trade. But because many people aren't ready to go from mutual funds directly into trading without understanding investing—for the long term – he created Payback Time. Too often, people see long-term investing as "mutual fund contributing" – otherwise known as "long-term hoping." But the sad truth is that mutual fund investors are, to a stunning degree, pinning their hopes on an institution that is hopeless. It turns out that only 4% of fund managers consistently beat the S&P 500 index over the long term, which means that 96% of fund investors see a smaller return on their nest egg than a chimpanzee who simply buys stocks in the 500 biggest companies in America and watches what happens. But it's worse than that. The net effect of hitching your wagon to mutual funds is that over a lifetime they'll fritter away as much 60% of your nest egg in fees. Once you understand how funds engineer this, you'll rush to invest on your own. Payback Time's risk-free approach is called "stockpiling" and it's how billionaires get rich in bad markets. It's a set of rules for investing (not trading but investing) in the right businesses at the right time -- rules that will ensure you make the big money.

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