It's an old saying, but this Wall Street adage is as relevant today as when it was first uttered. It worked once again during the market decline that began in 2008. In The Seven Rules of Wall Street, Sam Stovall, master investment strategist and expert on stock market history, presents seven familiar sayings that not only convey enduring truths but also serve as superb investment strategies.
In this engaging guide, Stovall subjects his chosen sayings to the facts of history and to his own personal experience. When it comes to building a portfolio, for instance, should you “l(fā)et your winners ride, but cut your losers short”? Absolutely. “On average,” Stovall writes, “the 'winners' beat the market by a near two-to-one margin. The winners also beat the losers most years: seven out of every 10 years.”
Other Wall Street one-liners that emerge as timeless truisms include:
As goes January, so goes the year
Don't get mad—get even
Don't fight the Fed
There's always a bull market someplace
To support his conclusions, Stovall complements his sharp insight with the results of detailed back-testing, as well as tables and charts drawing on decades of stock market data.
A fun and lively read, The Seven Rules of Wall Street provides an abundance of wisdom in remarkably few words—proving that investing books can be as entertaining as they are educating.
作者簡介:Sam Stovall, chief investment strategist at Standard & Poor's Equity Research, serves as chairman as the S&P Investment Policy Committee, where he focuses on market history and valuations. He is the author of The Standard & Poor's Guide to Sector Investing and “Stovall's Sector Watch,” a column featured on www.spoutlook.com.
Sam Stovall結(jié)合標(biāo)準(zhǔn)普爾公司詳細(xì)的數(shù)據(jù)和自身的經(jīng)驗,檢驗并完善了這7條投資法則。
目錄:Preface
Introduction 1
Rule 1 Let Your Winners Ride, but Cut Your Losers Short 19
Rule 2 As Goes January, So Goes the Year 37
Rule 3 Sell in May and Then Go Away 55
Rule 4 There's No Free Lunch on Wall Street (Oh Yeah, Who Says?) 71
Rule 5 There's Always a Bull Market Someplace 87
Rule 6 Don't Get Mad-Get Even! 107
Rule 7 Don't Fight the Fed 129
Summary: Ranking the Rules 153
Glossary 165
Index 171