The money game
Vintage Books, 1976 - 253 pages
"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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The small investor is a lovable fool, and the professional manager is a worldly
riverboat dealer; find smart people, the small investor is told. Very good. That is
like Ben Graham saying, "Many shall be called to honor that now are fallen." But
how do you find smart people? Those who have just finished being smart are
sometimes the dumb ones in the next part of the cycle. The scarred sit, frozen by
memories, through the ebullient markets, and the unscarred are sliced apart by
the Black ...
If it is a game, then we can relieve ourselves of some of the heavy and possibly
crippling emotions that individuals carry into investing, because in a game the
winning of the stake is clearly defined. Anything else becomes irrelevant. Is this
so startling? "Eighty percent of investors are not really out to make money," says
one leading Wall Streeter. Investors not out to make money? It seems almost like
a contradiction in terms. What are they doing then? That can be a subject for a
The list of roles investors play could go on and on, but the Australopithecus
jawbone is still missing. Perhaps, as the savants say, the investors are in the
market for something else. I have a friend who runs a small clearing-house shop,
and this is what he says: "I don't care whether they're big investors or little
investors. If they make a little money, they're happy, if they lose a little money,
they're not too unhappy. What they want to do is to call you up. They want to say, '
How's my stock?
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LibraryThing ReviewUser Review - 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. Read full review
Preface to the Vintage Edition
IDENTITY ANXIETY MONEY
Can Footprints Predict the Future?
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