4 comments about Investing Without Fear: Options.

1. I read the book in just a few days. Since then I have gone over it again. It was very insightful. The concept of Option hedges makes investing a little more predictable. I have been using this process in my trading. In 1 month I have had a 9% return so far. Not amazing, but consistent and dependable.



2. Harvey Friedentag, a Denver-based registered investment adviser, has done all investors a favor. In writing this book, he clarifies many of the misunderstandings that surround the world of listed investment options.
   
   Too many consider the use of investment options as another form of gambling. This impression remains, despite their ability to minimize portfolio risk, diversification while maximizing capital gains, income and downside protection.
   
   This well-written book is not for beginners, the author cautions. Rather, it is for experienced investors who have been unsuccessful; those who have made either small gains or, worse, lost money. This easy-to-understand book provides grounding in investment options. It begins with definitions. Then, it proceeds to strategy and tactics. The chapter on taxes is worth the book's price.
   
   "Fear always springs from ignorance," Ralph Waldo Emerson once wrote. Those words ring true in the investment world. By penning this book, Friedentag has gone a long way to alleviate much of the misunderstanding that surrounds options strategies.



3. THIS BOOK IS AN EASY READ, WRITTEN BY AN INVESTMENT ADVISOR THAT KNOWS WHAT HE IS DOING. I NO LONGER HAVE FEAR TRADING STOCKS AS I ALWAYS HAVE OTHER INVESTORS MONEY TO HEDGE MY POSITIONS. THE CHAPTER ON MARGIN IS WORTH THE PRICE OF THE BOOK. YOU CAN GET IT ON AMAZON.COM. THE BOOK HAS BEEN UPDATED IN APRIL 2003.



4. THIS EASY TO READ BOOK IS WRITTEN BY A SEC REGISTERED INVESTMENT ADVISOR. THE BEST PART IS THAT IT TEACHES THAT WHEN YOU INVEST YOU DO NOT WISH, HOPE OR PRAY. THESE DO NOT WORK AT ALL.
   YOU WILL LEARN THAT THE PRICE OF A STOCK DOES NOT MATTER AS THE PRICE WILL ALWAYS VARY.

   THE CHAPTER ON TAXS IS WORTH THE PRICE OF THE BOOK.

   DR ALEXANDER ELDER AUTHOR OF COME INTO MY TRADING ROOM HAS SAID, "THIS IS A GEM OF A BOOK FOR SERIOUS OPTION WRITERS. MOST OPTION BOOKS DEAL WITH BUYING OPTIONS BECAUSE MOST BOOKS ARE WRITTEN FOR GAMBLERS."
   OUR CLUB HAS MADE BIG MONEY IN THE MARKET DCOWNTURN AND WITH TAX-ADVANTAGED INVESTING. MEMBERS OF THE CONTRARIAN INVETMENT CLUB, DENVER COLORADO.

5 comments about Merrill Lynch: The Cost Could Be Fatal: My War Against Wall Street's Giant.

1. Book was personal about certain managers at ML. Very common for industry. No earth shattering cases. Just routine sales management for whole industry.



2. I found this book to expose the truth about the management of the firms that sell investment securities to the general public. Hopefully books like this will help to educate investors and the State and Federal governments about how things really work at the major Wall Street securities dealers. This was a great read for any individual interested in the arbitration process that is used to protect the broker/dealers from accountability for their actions.



3. After read his book, I really admire Keith's courage to fight against Merrill Lynch by himself. It tooks him a lot of time, energy, money to fight for his believing. I was a Merrill Lynch empolyee as financial advisor and was wrongfully terminated. After read this book, I was filled with the courage to fight against the giant firm. Email me at YYYY1234YYYY1234@yahoo.com.



4. This book is a profile in courage of how a private attorney general suffered great personal costs while attempting to uncover corporate wrongdoing in order to serve the public interest. Keith Schooley's well-written book is an odyssey of his struggles with Merrill Lynch management that took him on a journey through nearly every regulatory agency, a blue-ribbon arbitration panel, and finally the Tenth Circuit of the U.S. Court of Appeals.
   
   Mr. Schooley describes in detail how the "powerful and mighty" play the game inside and outside of a court of law, including unethical and perhaps illegal activities. It is a powerful story of the personal costs of whistleblowing and doing the right thing as well as an insider's guide to the world of the securities industry. This book provides insights into institutions such as the Wall Street security moguls, regulatory agencies, arbitration, and the court system.
   
   In view of the current climate of corporate scandals - Enron, Arthur Anderson, WorldCom, Adelphia, and others - Schooley's book is an important one that offers a hard and disturbing look at Wall Street's largest securities firm. As a former employee of Merrill Lynch, Schooley gives a backstage view at what goes on behind the impression-managed frontstage. The public relations voice of corporate America differs significantly from the reality. Mr. Schooley documents a pattern of problems at the firm ranging from brokers to senior management, and suggests that the problems could be even be traced to the board of directors.
   
   This is a book that should be read by not only Merrill Lynch clients, but all investors. Law students and lawyers interested in employment law, securities law, and tort law would also find it a valuable case study of corporate wrongdoing. Finally, undergraduate students interested a career in the securities interest will learn about the perils of the securities industry from this insider's guide.
   
   Michael L. Rustad
   Thomas F. Lambert Jr. Professor of Law
   Suffolk University Law School
   Boston, Massachusetts



5. This is the kind of self-aggrendizing drivel you should expect in a self published book. I guess no one else was interested in publishing the story.
   
   The author worked in a tiny offie in a backwater town and took it upon himself to contact "senior management" in wiritng. I bet he is writing to Bush about the war in Iraq as we speak. I'm sure he will be self-publishing a new book very soon about how Bush ignored his concerns and tried to get his day in international court in The Hague.
   
   Save your money and by a book from an author who didn't have to pay to get it published.

No comments about The Options Trading Strategy of a Lifetime.

No comments about The Optionetics Course CD Set.

5 comments about The Money Tree: Risk Free Options Trading.

1. I consider myself a very experienced, professional investor. While I agree w/ the comment by another reviewer that "risk free" is too strong a word - I really liked this book. The book is very readable and communicates a basic yet powerful option writing strategy. While I stress that each investor must understand the risks involved in every trade, I also believe that this book is worth a read.



2. I have not read this book, but I had to comment on its title: I would hate for a novice investor/trader to be taken in by the promise of "risk free" options trading. Synthetically, selling a covered call is identical to selling a naked put, with exactly the same risk/reward profile. The fact that lots of investors do it, and are allowed to do so by their brokers, has a lot more to do with the brokers' risk tolerance than its risk profile for the individual. Yes, you can increase your returns with this strategy, but please, learn how to do it from someone who will tell you the truth about the potential outcomes.



3. If it so good why would SOMEONE bother writing the same review over and over again. I have written many of covered calls and 25% is a bit lofty for a return. Look into more honestly reviewed/written books for details/strategies and see what you can do experientially. Start small and watch what happens to your returns on an annualized basis. Have an exit strategy before you start.



4. I found this book to be very interesting and powerful in that it not only provides a simple covered call strategy but a stock selection method that complements the overall strategy. The book gives any one the basics to set up a conservative covered call portfolio that should provide a comfortable income. You can order a set of CD's that implements the book's basics and the CD's are very reasonable.
   I have set up my IRA account to implement the covered call/ stock program set forth in this book.



5. Over the last five years, I've examined hundreds of schemes for making money in the stock market. Now, I don't want to say anything bad about all those schemes, but I will say this: The concepts in The Money Tree actually work as advertised! I am retired, and need to make my meager resources last out my lifetime. My lack of success in the market had me ready to put my money in a 2% savings account and hibernate. But then I read this book. It has literally changed my life.

5 comments about The New Options Market.

1. The book is a very good introduction of options for the very beginners. You won't find there advanced strategies like "Short Iron Butterfly", but the basic strategies are covered in a very friendly matter. The book assumes that you are already familiar with the stock market to some extent and have traded stocks but not options. If you need a much deeper book on options, I would recommend "The Options Course" by George A. Fontanills and Richard Cawood.
   
   Pros:
   - Simple strategies like selling covered calls vs naked calls are very well covered;
   - The book is quick to read, only the most essential topics are covered, in concise way.
   
   Cons:
   - Appendix chapters about selecting the right broker, or about computer software, are outdated;
   - An important technique of selling puts as a way of buying the underlying security is not covered in this book. If you are interested in this issue, read chapter 19 of "Options as a Strategic Investment" by Lawrence G. McMillan.
   - Doesn't have a single reference to other books.



2. If you are serious about trading options, BUY and study this book! Ansbacher explains the concepts needed to understand options in clear and nontechnical terms. Often he is brutally honest in ways the force you to think. The most valuable parts of the book are the strategies that he provides for each type of trade to inform you of what action to be prepared to take if (and when!) the market turns against you. Ansbacher repeatedly tells you that it is not easy to make money with options, but the thesis of the book is that if you approach options trading with some of the strategies he shares, you will be able to keep the premiums you collect and not get an ulcer. His ideas about trading two-strike prices out and about how to easily figure the margin requirements on options are well worth the price of the book. The purpose of this book is not to tell you how to find good stocks for writing options; the book's purpose is to provide you with sound strategies to be successful once you identify stocks in which you are interested. If you want to identify the good stocks, spend a few dollars and sign up for a program like VectorVest. Then you will have both the process and the content for success...



3. I found this book very useful in bringing people back to reality as to the speculative nature of option trading. It even includes very good advice as to how to avoid (or mitigate if you will) losses. I only gave 3 stars to this book as it does not provide strategies as to how to pick correct stocks, and as they say, winning in options is 90% stock selection and 10% option trading.

   It is a good purchase for anyone starting in this business. Wish you all luck.




4. The strengths of this book are the clarity with which it has been written, the numerous practical examples provided, and most importantly, the opinions which the author, an experienced options trader, freely provides. Ansbacher has avoided dealing with the complexities of options such as the Black-Scholes pricing model, the greek sensitivities, etc., instead focussing on the basics: common strategies and analyzing what to do when things don't work as planned (in contrast to Fontanills' whose examples always make money!), but it is his experience which really shines. Reading this book is straightforward, owing to its conversational tone and is really like having an experienced options trader at your disposal -- Ansbacher is no flake, he's traded SPX options for years and runs a successful hedge fund....This one belongs on the bookshelf with McMillan and Natenberg...



5. Ansbacher opens by stating that "basically the strategies [for using options] are as true today as they were 25 years ago". So much for the title "The NEW Options Market". As far as rating it a "bible of options books" from "one of today's most experienced option brokers and traders" is concerned, I'd hate to see an average book on the subject.

   If you want to TRADE options then forget this book. The author has the firm belief that an option should be held till expiry. He therefore fails to sufficiently discuss the effects of dynamic variables on option price and leaves the reader with as good as no tips or strategies for TRADING options.

   Technical traders will find this book insulting. The author assumes for the purposes of developing his strategies that in the end we all gain no more than the market average. It may be a contentious point but enough people believe in the merits of technical analysis and would have expected its consideration in a "bible of options", with a discussion and strategies for trading options in the short term.

   In the book's synopsis (above), Jack Schwager rightly points out that the book is "aimed squarely at the ordinary investor". The lavish appraisals of Messrs Maclean and McMillan only do a disservice to their own reputations.

   For the more conservative `investor' this book may be sufficient as a basic starter. Short term `traders' will be left with little more than could have been gleaned from basic info on web sites. For me the book left important questions unanswered. Spare yourself the frustration - spend a little more money and get a more comprehensive book!

5 comments about Famous First Bubbles: The Fundamentals of Early Manias.

1. The author's failed analysis of the definition of the word " speculation " on pp.7-8 (he interprets the word " speculation ", not as the attempt to forecast the short run psychology of the stock markets ,but to mean that one does not know how events will play out over time for the entrepreneur over the long run)means that he assumes away the existence of any uncertainty.There is only risk.This risk can be analyzed and calculated using the Normal(Log Normal ) probability distribution.This basically leads him to his implicit acceptance of the Efficient Market Hypothesis(EMH).EMH claims that stock market prices are always an accurate reflection of the current value of a stock. All the information about prices at any given time is reflected in the price of the stock.This leads to the claim that the normal distribution correctly models the time series data of changing prices and that all changes in prices are an accurate reflection of where the market should be.There can NEVER be ANY financial bubbles .
   
   The problem with this argument is that there is not a shred of historical,empirical or statistical data to support it.Keynes had already pointed out to Tinbergen in 1939-40 in the Economic Journal that the time series data would have to be uniform,homogeneous and stable over time in order to correctly assume that the error terms (residuals) were normally distributed.Mandelbrot and Taleb have demonstrated ,since 1963 and 1995 ,respectively ,that the data is not close to being even remotely normally distributed over time.The distribution that correctly models the financial markets is the Cauchy distribution.The author is completely ignorant of this fact.Instead of considering whether markets are subjected to the " wild " risk of the Cauchy,he just assumes " a can operner",i.e., that the pricing data is normally distributed.
   
   There is also no reference to Adam Smith's learned and scholarly evaluation of the Mississippi and South Sea Bubbles.
   
   This book is not worth buying or reading.The author starts and ends with the claim that stock and financial market price changes can be modeled as being normally distributed.I can't recommend this book for purchase except if a reader wants to know how anti scientific a believer in the EMH can be.Garber's argument is identical to those of Bernanke in the 2006-2008 period -there were no bubbles in the housing or stock markets.Greenspan knew otherwise.Unfortunately,he did not have the courage of his convictions.He went along for the ride with the Garber's, etc.



2. I did not finish this book entirely but I do not like it much. It is written as if it is a scietific study with al ot of references to books that may not be available anymore. It has no scientific value because it reworks the data of others and no new insights are gained.
   As an inforative book it misses anything that you can call a storyline. Only the part about the Mississipi bubble is readeable.



3. During the collapse of the so-called Internet bubble, the legendary Dutch fiscal intoxication with tulips, called tulipmania, was widely cited as a lesson from history. The financial press hyped stories of deluded Dutch farmers who mortgaged all their worldly possessions to purchase a single prize tulip bulb, only to meet financial ruin when the bubble inevitably burst. Economist Peter M. Garber dug into history, and found that most of the common wisdom about the tulipmania was false. So, if you ever wondered how Dutch investors could have been so foolish, there is a simple answer: they weren't. Famous First Bubbles clearly evolved from a series of academic papers but, nonetheless, the book is entertaining. The primary focus on the tulip bubble makes the sections on the Mississippi and South Sea Bubbles seem like afterthoughts. We recommend this to iconoclasts who enjoy debunking historical legends and to bubble watchers everywhere.



4. The author does an excellent job debunking the myth about the Dutch tulipmania from 1634 to 1637. He conducted detailed economics and historical research, and uncovered that just about everything about tulipmania as described in Charles Mackay book "Extraordinary popular Delusions and the Madness of Crowds" is either inaccurate, or exaggerated. The Dutch never mortgaged their entire properties for a single bulb. Also, Holland did not suffer a depression after the tulip market crashed. According to the author, very little net wealth was actually wiped out. Instead, the price of rare tulips was driven by rational economic considerations reflecting the short supply and the rising demand for this rare tulip bulb type. The price of these tulip bulbs at anyone time reflected expected investment returns from investors. Other economists have also documented that the price of tulip bulbs did go back up to similar level several centuries later associated with favorable economics change in this market.

   The author goes on to further explain the rational economics fundamentals behind the Mississippi Bubble of 1719-1720 resulting from an attempt to swap French government debt for equity in a private company, financed by printing paper money. He similarly explains out in similar economics terms the South Sea Bubble of 1720 which was the equivalent of a leveraged buyout of the national debt of Great Britain. Both investment schemes ultimately collapsed, but their respective economics and strong government support at the onset gave these investment propositions very strong fundamentals. These investments are not so different than investments today in GSEs like Freddie Mac, Fannie Mae, and Sallie Mae. Because of accounting irregularities, the stocks in these GSEs have recently taken a beating. But, there is no ground for talking about a GSE stock bubble.

   The author has strong credentials to support his iconoclastic thesis that is not that well known by the economics establishment. He is a global strategist at Global Markets Research at Deutsche Bank and Professor of Economics at Brown University.

   The Internet bubble has often been compared to the three investment bubbles mentioned above. Sadly enough, internet stock investors were by far the most foolish among investors of these four different investment bubbles. This is because at the onset the fundamentals behind internet stocks were far weaker and speculative than the ones associated with the investments associated with any of the three other bubbles.




5. During the collapse of the so-called Internet bubble, the legendary Dutch fiscal intoxication with tulips, called tulipmania, was widely cited as a lesson from history. The financial press hyped stories of deluded Dutch farmers who mortgaged all their worldly possessions to purchase a single prize tulip bulb, only to meet financial ruin when the bubble inevitably burst. Economist Peter M. Garber dug into history, and found that most of the common wisdom about the tulipmania was false. So, if you ever wondered how Dutch investors could have been so foolish, there is a simple answer: they weren't. Famous First Bubbles clearly evolved from a series of academic papers but, nonetheless, the book is entertaining. The primary focus on the tulip bubble makes the sections on the Mississippi and South Sea Bubbles seem like afterthoughts. We from getAbstract recommend this to iconoclasts who enjoy debunking historical legends and to bubble watchers everywhere.

2 comments about The Options Strategist: How to Invest and Trade Equity-Related Options.

1. This book is a little bit on the basic side, but gives a nice review of different option strategies. Nothing advanced, but still a nice summary of different strategies.



2. I've bought and sold many options using a variety of strategies. I enjoy reading as much as possible on options strategies because of the complexity of the subject. The author writes in a very clear logical sequence starting with Options 101 and then rapidly moves on to the more advanced strategies. He doesn't lose you in technical terms but keeps your interest as he walks through Options 401 (more advanced), and onto the more complex stuff. If you want to understand all of the "greek" options stuff, he explains it in an understandable format. Most options books I read get too generic and I lose interest but this book was different and I actually enjoyed it. I have 5 options books on my shelf right now and this one is the best of the group by far.

5 comments about Trading Options to Win: Profitable Strategies and Tactics for Any Trader.

1. Johnston approaches options trading in a very unique way.
   You wont find his approach in any other book which I quite liked as most option books tend to be repetive.
   It would be great to see another book on the subject by him.



2. I read this book and must say it gives you a great grounding in options theory. A must read.



3. Great book for those interested in options. I would also recommend this book for anyone who is interested in investing/trading period. The chapter on making money with money is priceless in and of itself.
   
   George
   
   http://www.thelawyertrader.net



4. Stu's writing style and exceptional wisdom when it comes to the futures options markets is unparalleled.
   Funny, witty, and filled with gobs of invaluable information, I keep this book on my trading desk at all times.



5. Outstanding book. I have corresponded with Stuart on a few occasions, and have found him to be a very genuine and intelligent guy. I personally enjoyed his writing style, and appreciate the fact that he didn't rub his advanced degrees in the reader's face. Very down-to-earth guy. I guess some readers such as Fletch prefer dry academic tomes instead of well written edutainment, so hey whatever cranks your tractor I guess. If I ever have insomnia I'll borrow one from you Fletch. Me on the other hand, I appreciate the way the concepts were presented. It made the book even more understandable, if for no other reason that his logical, humorous and chatty style kept my short attention span brain fully engaged.
   
   Hats off to SAJ for this excellent book. My options understanding has increased by AT LEAST an order of magnitude.

5 comments about Options: Essential Concepts and Trading Strategies.

1. This is a good introductory book on options.
   Pros: comprehensive coverage of a subject,fairly easy to read and understand for a beginner in options.
   Cons: the same concepts explained multiple times in different parts of the book. That's probably because chapters are written by different people. For example, look at put-call parity or covered call in the index. It's not a reference book. A short chapter summarizing option trading strategies in one place is clearly missing.



2. This is definitely not an easy reading book. It's essentially a dry college textbook, drier then most Physics textbooks. I am not too sure why people like this book. It's rated fairly high, which was why I initially bought it, but now I regret it. The book is written by multiple authors, therefore some chapters are better then others. But overall it's difficult to read because in some areas, the descriptions are too terse, in others too detailed to the point of confusing. I've owned this book for almost three years and I've never been able to consistently read through it. I will drop it because it's too frustrating. Then I try again a couple of months later and I drop it again. I essentially gave up and decided to go ahead and read Lawrence McMillan's Option book. His book has a better flow because it's the same author throughout, and he does a pretty good job of explaining the subject. This book is only good for probably a reference book, but not for advancing your techniques of Options trading. I am going to try and sell this book instead of using it as a reference.



3. This book is somewhat like 'A Random Walk Down Wallstreet" only applies to option trading, not just Wall Street and goes beyond.To the nit wit that blasted this book, I seriously doubt if he took the time to read it.I also recommend Safety First Investing and Wall Street Money Machine for more option techniques.Good books.



4. Wow, amazing, excellent, insufficient superlatives to describe my feelings - this one and Sheldon Nattenberg's Option Volatility and Pricing and you know more than most of the wall street professionals in my opinion. I found it practical and insightful, particularly with respect to the institutional trading strategies and how the trading floors operate.



5. This book presents a highly readable overview of the subject of options and I would recommend it to anyone. I have not been able to find one book on options which is as wide ranging in its scope (i.e., history, pricing, strategy, individual and institutional investors' approaches, how the trading floor operates, how market makers trade, etc.). The authors have struck a good balance between depth of the subject matter and readability. There are more detailed texts available in the area of strategy (McMillan's _Options as a Strategic Investment_) or pricing (Natenberg's _Option Volatility and Pricing_), but I would especially recommend this book to individual investors interested in options. After reading this book they will have a much stronger footing from which to approach the forementioned other books (which are also excellent, by the way).

   The previous reviewer's comments should be disregarded as I cannot conceive of anyone writing about this subject matter any more clearly (yes, I have read both of Fontanills' books) -- the authors appear to have put much effort into this book judging by its clarity, and one nitwit's daffy comments should not dissuade you!