The money game
Vintage Books, 1976 - 253 páginas
"This is a modern classic." -Paul A. Samuelson, First American Nobel Prize Winner in Economics "The best book there is about the stock market and all that goes with it." -The New York Times Book Review "Anyone whose orientation is toward where the action is, where the happenings happen, should buy a copy ofThe Money Gameand read it with due diligence." -Book World " 'Adam Smith' is a veteran observer and commentator on the events and people of Wall Street.... His thorough knowledge of financial affairs gives his observations a great degree of authenticity. But the joy of reading this book comes from his delightful sense of humor. He is a lively and ingeniously witty writer who never stoops to acerbity. None of the solemn, sacred cows of Wall Street escapes debunking." -Library Journal
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It is a cold, austere world, the world of the random walk, and a negative one. The
random walkers do believe in the intrinsic value of a stock, but they have not
much help for us on that because a stock only sells for its intrinsic value —
For it is not sensible to pay 25 for an investment of which you believe the
prospective yield to justify a value of 30, if you also believe that the market will
value it at 20 three months hence. Thus the professional investor is forced to
We have come to the moment in Peter Pan when the play stops and Mary Martin
or whoever comes to the footlights and says, "Do you believe? Do you believe?"
The only two times I saw Peter Pan, everybody believed. Some day, maybe not ...
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LibraryThing ReviewCrítica de los usuarios - carterchristian1 - LibraryThing
What is remarkable about this book is how ie speaks to the issues that led to the meltdown of 2007 and 2008. The missage is sim;ple.. Beware.Many of the Amazon nreviewers commented on how the book is a pleasure to read. It it. there is humor as well as advice. Leer comentario completo
Preface to the Vintage Edition
IDENTITY ANXIETY MONEY
Can Footprints Predict the Future?
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