The Uncommon Investor III: How to Earn Superior Returns in the Stockmarket Despite Everything

Overview

Benj Gallander has among the highest short- and long-term returns in North America. Author of the best-selling The Uncommon Investor and The Uncommon Entrepreneur, co-editor of the Contra the Heard investment letter, and investment columnist for national newspapers and magazines, Gallander has an approach to the stock market that has the investment world buzzing.

Holding fast to his decidedly contrarian position, Gallander does not believe in buying and holding stock in ...

See more details below
Paperback
$14.42
BN.com price
(Save 9%)$15.95 List Price
Other sellers (Paperback)
  • All (13) from $4.37   
  • New (6) from $4.75   
  • Used (7) from $4.37   
Sending request ...

Overview

Benj Gallander has among the highest short- and long-term returns in North America. Author of the best-selling The Uncommon Investor and The Uncommon Entrepreneur, co-editor of the Contra the Heard investment letter, and investment columnist for national newspapers and magazines, Gallander has an approach to the stock market that has the investment world buzzing.

Holding fast to his decidedly contrarian position, Gallander does not believe in buying and holding stock in perpetuity, and he thinks that stop-losses are idiotic, like playing cards with an open hand. Instead, Gallander has redefined conventional norms of the risk/reward relationship: he rarely buys a stock that does not have a chance at a minimum 100 percent return, and he remains unconcerned with the daily pulse of trading. And all he has to show for his contrarian position is a fifteen-year annualized return of 21.8 percent with a staggering 64.8 percent in the meltdown of 2001.

The Uncommon Investor III focuses on the basics of Gallander's controversial methodology, philosophy, and the rules around which he has structured his investment approach. His goal is simple: to show people how to improve their financial returns by themselves, reducing their dependence on costly brokers and advisors.

Benj Gallander, MBA, is the co-editor of arguably the most successful investment letter in North America. He is a sought-after speaker on the lecture circuit and writes for various financial publications throughout North America.

Read More Show Less

Product Details

  • ISBN-13: 9781897178621
  • Publisher: Insomniac Press
  • Publication date: 6/1/2009
  • Pages: 248
  • Product dimensions: 6.00 (w) x 8.90 (h) x 0.70 (d)

Meet the Author

Benj Gallander, MBA, is the co-editor of arguably the most successful investment letter in North America. He is a sought-after speaker on the lecture circuit and writes for various financial publications throughout North America.

Read More Show Less

Table of Contents

Foreword Ben Stadelmann 11

Preface 13

Preface to the Second Edition 15

The Cast 17

The Warm-Up: The Pre-Game Show

World Series: Game Seven 18

What's a Contrarian, Anyhow? 21

Contrarian Psychology 22

History, Baby, History 23

The Bandwagon Plays-From Tulips to Real Estate 23

Supply, Demand, Reality 24

Inning 1 Rookie Hopes and Prayers

The Magic of Compound Interest 29

The Rule of 72 30

Setting Financial Goals 31

Investment Bases 31

The Risk/Reward Ratio 32

Eggs and Your Stage of Life 33

Diversification 36

Alternative Investments 37

Paying Down Debts 38

Interest Rates and Inflation 40

The Advantage of Investing Early 40

Hardcore Discipline 42

Box Score Inning 1 45

Averaging Down 47

Inning 2 The High-Contract Players

Mutual Funds Defined 51

Types of Funds 51

Advantages of Mutual Funds 54

Disadvantages of Mutual Funds 56

Box Score Inning 2 60

Inning 3 Hope and Bravado

Politics, Testosterone, and Miniskirts 65

The Efficient Market Theory 65

Pedantry 66

The Random Walk theory 67

Averaging Up, Up, Up 68

Dollar Cost Averaging 69

Short Selling 70

The Leveraged Margin Dance 71

Luck 72

Box Score Inning 3 73

Fear, Greed, Loathing 78

Health and Welfare 79

Inning 4 The Long-Term Contract

Traders Versus Investors 82

Beneficial Laziness 83

Technical and Fundamental Analysis 84

Chartists and Market Timing 85

Head and Shoulders Formation 85

Trading Volume 86

Top-Down, Bottom-Up, and Sectoral Investing 87

Growth Investing 87

The Full Service Versus Discounter Conundrum 88

Full-Service Brokers-Advantages 90

Full-Service Brokers-Disadvantages 91

Opening an Account 93

Box Score Inning 494

Stock Dividends 95

Inning 5 The Draft Pick, The Veteran, The Hanger-On

Gurus and Has-Beens 97

Joan's Skeletons 98

Cycles 99

Box Score Inning 5 107

Penny Stocks 108

Corporate Stock Repurchases 109

Kissing-Off Losers 110

Inning 6 Scouting

Refining the Search 113

The Bargain Bin 114

Reading Stock Tables 114

Corporate Contact 119

The Stock Watch List 121

The Internet and Other Sources 122

Insider Trading 125

Numbers-Oooh, Scary 126

The Income Statement 127

The Balance Sheet 130

Ratio Analysis and Other Critical Numbers 132

Box Score Inning 6 141

Inning 7 The Pitch

The Buy Decision 146

The Bid 146

Playing Percentages 147

Order Ratios 149

Order Quantities 149

Box Score Inning 7 151

Inning 8 The Set-Up Man

The Hold 156

Ongoing Research 158

Box Score Inning 8 159

The Fool's Game of Stop Losses 161

Takeovers 162

Inning 9 The Closer

Hunting the Sell Target 164

Staging the Sell 165

Sell Signals 166

Box Score Inning 9 169

Inning 10 Any Buddy's Game

Taxing Planning 174

Tax Deferral 174

Capital Gains 175

The Importance of Dividends 175

IRAs and RRSPs 176

Tax Loss Selling 177

Income Splitting 177

Box Score Inning 10 179

Giving Something Back 182

The Post-Game Show: Calculating Returns

Annualized Returns 185

Currency Translation 188

Incisive Investing 189

Final Box Score 191

Ethics 194

The Evolving System 196

Glossary 198

Appendix I The Contra Philosophies 201

Appendix II Financial Returns 202

Appendix III The Contra Commentaries 203

Appendix IV Recent Purchases 241

Appendix V Bibliography and Further Readings 241

Index 245

Read More Show Less

Customer Reviews

Be the first to write a review
( 0 )
Rating Distribution

5 Star

(0)

4 Star

(0)

3 Star

(0)

2 Star

(0)

1 Star

(0)

Your Rating:

Your Name: Create a Pen Name or

Barnes & Noble.com Review Rules

Our reader reviews allow you to share your comments on titles you liked, or didn't, with others. By submitting an online review, you are representing to Barnes & Noble.com that all information contained in your review is original and accurate in all respects, and that the submission of such content by you and the posting of such content by Barnes & Noble.com does not and will not violate the rights of any third party. Please follow the rules below to help ensure that your review can be posted.

Reviews by Our Customers Under the Age of 13

We highly value and respect everyone's opinion concerning the titles we offer. However, we cannot allow persons under the age of 13 to have accounts at BN.com or to post customer reviews. Please see our Terms of Use for more details.

What to exclude from your review:

Please do not write about reviews, commentary, or information posted on the product page. If you see any errors in the information on the product page, please send us an email.

Reviews should not contain any of the following:

  • - HTML tags, profanity, obscenities, vulgarities, or comments that defame anyone
  • - Time-sensitive information such as tour dates, signings, lectures, etc.
  • - Single-word reviews. Other people will read your review to discover why you liked or didn't like the title. Be descriptive.
  • - Comments focusing on the author or that may ruin the ending for others
  • - Phone numbers, addresses, URLs
  • - Pricing and availability information or alternative ordering information
  • - Advertisements or commercial solicitation

Reminder:

  • - By submitting a review, you grant to Barnes & Noble.com and its sublicensees the royalty-free, perpetual, irrevocable right and license to use the review in accordance with the Barnes & Noble.com Terms of Use.
  • - Barnes & Noble.com reserves the right not to post any review -- particularly those that do not follow the terms and conditions of these Rules. Barnes & Noble.com also reserves the right to remove any review at any time without notice.
  • - See Terms of Use for other conditions and disclaimers.
Search for Products You'd Like to Recommend

Recommend other products that relate to your review. Just search for them below and share!

Create a Pen Name

Your Pen Name is your unique identity on BN.com. It will appear on the reviews you write and other website activities. Your Pen Name cannot be edited, changed or deleted once submitted.

 
Your Pen Name can be any combination of alphanumeric characters (plus - and _), and must be at least two characters long.

Continue Anonymously

    If you find inappropriate content, please report it to Barnes & Noble
    Why is this product inappropriate?
    Comments (optional)