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Sam JaffeeThis book has something even better than Graham and Dodd: It gives the reader an easy-to-understand glimpse into the process of stock analysis and doesn't hold anything back about the shady side of the profession. For instance, Hooke goes into great detail about the inherent conflict-of-interest of sell-side analysts. "Brokerage firms are primarily in the business of generating banking fees, commissions, and trading profits," he writes. "Providing unbiased research to investors ranks low on their list." So why pay any attention to sell-side analyst reports in the first place? Because they still can provide important bits of information. You just have to know how to interpret them through the fog of the multiple conflicts-of-interests involved in the company-analyst relationship.
And this book does a good job of teaching the individual investor how to do that. Hooke doesn't stop at revealing the underside of the analyst community. The book also warns investors how companies often massage financial statements to make them say what they want them to.... The most important tool an individual investor can have is an ability to chip through all the rocks to find a nugget of gold. This book is an invaluable, although expensive, pickax.
— Street Wise, Business Week Online