Inhaltsangabe
A practical guide to making a killing in the stock market outlines a battle plan for understanding the market and then capitalizing on this information. 25,000 first printing.
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David A. Lereah was recently named senior vice president and chief economist of the National Association of Realtors. The NAR is America's largest professional association, representing more than 750,000 members involved in all aspects of the real estate industry. <br><br>From 1992 to 2000, he was a senior staff vice president and chief economist of the Mortgage Bankers Association of America. He also served as president of an MBAA subsidiary, Lender Technologies Inc, which specializes in information solutions for the mortgage lending industry. Before joining MBAA, he spent several years as a bank regulator and as a financial economist for the Federal Deposit Insurance Corporation. <br><br>Lereah received his B.A. in Economics from American University and his Ph.D. in Economics from
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information economy has generated unprecedented opportunities for investors. But taking advantage of them requires discipline and a knowledge of econimic trends. There will be recessions and bear markets. There will be recovery periods from recessions. And there will be future bull markets. How does one make sense of these changing economic conditions and make the right investment decisions? Dr. David Lereah shows how the experts do it, and how you can, too.<br><br>With the advent of the Internet, ordinary investors now have access to the kind of information traditionally available only to investing professionals. Dr. Lereah levels the playing field by providing investors with the analytical tools they need to really take advantage of that raw information. This accessible format makes the ideas easy to understand and provides bite-sized, practical steps to take based on which way the market is going. Dr. Lereah's practical guide helps investors navigate the peaks and valleys by using the Interne
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Part One
The Road to Growing Rich
Becoming a New Millennium Investor
The 1990s have become known as the "information decade," a time when personal computers went mainstream and the Internet became a way of life. Almost overnight, everyday households had direct access to a full array of financial investment information, ranging from timely U.S. Government economic releases to stock price movements on companies traded on the European and Asian exchanges. Savvy investors -- those who learned how to collect and use this new information -- grew rich throughout the decade. Not surprisingly, besides generating financial gains for a lot of people, the 1990s' economic boom created even larger wealth for those individuals who understood how to play the PC/Internet revolution.
Today's new information economy is a residual from a technological revolution that strikingly reminds us of the "industrial revolution" that shaped the world during the late 1800s. In fact, the reach of today's technological innovation may eventually dwarf the advances made during the industrial revolution, and the implications are enormous for the world of investments. As technological changes have produced a transformation of communications and commerce from the physical world to the virtual (electronic) world, they have generated unprecedented investment opportunities for equities and bonds as well as real estate, international, and retirement investments.
As we enter the twenty-first century, you -- the individual investor -- stand at a crossroad. You can continue as an everyday investor stuck in the twentieth century, or you can take control of your investment life by diving head-first into the information age. More than ever before, nonprofessional investors have the opportunity to emulate professional investors with very little effort and very little cost.
Today, for only the cost of an initial Internet connect charge, investors have instant access to up-to-the-minute economic, financial, and investment information, as well as analysis and commentary from market and industry analysts. This wide array of market information enables everyday investors to base their investment decisions on information that was thought to be unattainable by nonprofessionals just two or three years ago. A cursory glance at the contents (as of this writing) of www.Bloomberg.com (a nationally known financial information provider) demonstrates the breadth of information available to investors on the Internet at no additional cost:
Bloomberg.com
News:Top Financial News
Top World News
Stock Market Update
Technology Update
U.S. Economy
Columns (market commentary from nationally known analysts)
Special Report
Stocks:Technology Stocks
Chart Builder (provides user with ability to chart virtually any investment)
World Indices
Movers by Exchange (identifies stock market movers in each major exchange)
Stocks in the Dow (Dow Jones Industrial Average Index)
S&P 500 Index Snapshot
Industry Movers (identifies market movers by industry)
Most Active Options (identifies most active stock options)
IPO center (initial public offerings)
Regional Indices (tracks selected regional stock indices)
Rates and Bonds:Key Rates (provides yield curve information)
U.S. Treasuries
International Bonds (e.g., Japanese and French bonds)
Municipal Bond Yields
Currencies:Currency Rates
Cross Currency Rates
Currency Calculator (permits investors to calculate any exchange rate)
EMU Update (European Monetary Union update)
Commodities:Most Active Futures (volume on commodity futures contracts, such as soybeans)
Commodity Movers (tracks movements in commodities)
Energy
Money:Mutual Funds
Portfolio
Loan Center
Mortgage Calculator
Investing (provides daily investment strategies)
Retirement [provides retirement strategies in retirement accounts such as 401(k)s]
Each item listed above generates its own contents for that particular area. Suffice it to say that the information available on the Internet is more than ample for information-starved investors. Bloomberg.com is just one of literally thousands of market information providers available to individuals. The Federal and local governments, Wall Street investment banking companies, brokerage houses, commercial banks, mutual funds, insurance companies, retirement associations, and countless other organizations offer a wide array of financial and economic information that is useful in developing well-informed investment strategies. As of this writing, some of the more popular investment sites offered on the Internet are: TheStreet.com; PowerStreet (Fidelity); DLJDirect; Datek Online; Ameritrade; Dreyfus; E*Trade; Charles Schwab; Suretrade; and Investor Network.
Perhaps the primary motivation for using the Internet for investing is the fact that the information is so well organized that most individual investors can do one-stop shopping. For example, investors who use Bloomberg.com would probably need to go no further. Almost everything required for the development of intelligent investment strategies is there. The ease of access and the efficient organization of the information at the site make it increasingly common for novice and intermediate investors to get "hooked." But it is important to note that investors could misuse the financial information that is handed to them. Giving them too much investment data could lead them down troubled roads. The core value of this book is that it provides investors with a structure for organizing and interpreting all of this information. It creates a better understanding of how to gather, sort, and simplify all of the information available on the Internet so that intelligent investment decisions can be made.
Furthermore, because most Web sites that disseminate financial information offer direct links to the primary electronic trading companies, executing most stock and bond transactions is simplified. Companies such as Ameritrade, DLJDirect, E*Trade, and Waterhouse are usually associated with most of the financial information Web sites. In addition, companies such as Merrill Lynch, Fidelity Investments, and so many others, now offer electronic trading within their own Web sites. Of course, investors can continue to trade through an individual broker and seek his or her advice on what has been learned from the Internet sites.
Looking to the future, most individual investors will need only this one-stop investment shopping list:
1.Go to one or more Internet investment sites.
2.View your investment and retirement portfolios' performance.
3.Gather pertinent market information on the economic and investment environments.
4.Develop an investment strategy (sometimes with help from market commentary or from the analysts hosting particular Web sites, and/or your stockbroker).
5.Click your mouse and execute a buy or sell transaction via one of the electronic trading Internet companies.
(A more complete list of information resources is provided in Part Three.)
The great boom of the 1990s created a lot of money for a lot of people, but what will happen when the U.S. economy slips and the long bull market stops roaring? Can today's investors continue to earn double-digit returns with their eyes closed, ignoring the stream of investment information crossing their computer screens daily? The simple answer is: No. Investors need to learn how to use this information to take advantage of market and investment opportunities. If history repeats itself in the twenty-first century, uninformed investors will struggle to maintain adequate returns when the good times turn bad. Today's Internet-driven world of information gives you, the individual investor, opportunities to keep pace with professional...
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The Rules for Growing Rich : Making Money in the New Information Economy
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