Nothing Is the Way It Seems on Wall Street |
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| Author:
| Sender, Ian |
| ISBN: | 978-1-4927-5291-2 |
| Publication Date: | Sep 2013 |
| Publisher: | CreateSpace Independent Publishing Platform
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| Book Format: | Paperback |
| List Price: | USD $12.95 |
Book Description:
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"My wealth has come from a combination of living in America, some lucky genes, and compound interest." Warren BuffettWarren Buffett has turned his $6,000 paper route earnings into $60 billions during his lifetime. He credits compounding NOT stock trading for his success. He has bought and holds some great companies. He does not "play" Wall Street's games. He holds his stocks "forever." Warren Buffett has learned that Wall Street only appears to be the place to make money. He works in...
More Description"My wealth has come from a combination of living in America, some lucky genes, and compound interest." Warren BuffettWarren Buffett has turned his $6,000 paper route earnings into $60 billions during his lifetime. He credits compounding NOT stock trading for his success. He has bought and holds some great companies. He does not "play" Wall Street's games. He holds his stocks "forever." Warren Buffett has learned that Wall Street only appears to be the place to make money. He works in Omaha. He says: "The market is a way to transfer money from the impatient to the patient." Wall Street changes it's outfit every season but nothing has really changed. Wall Street exists to make the owners rich. I have been in the financial services business for over 20 years. We make it appear that traders and investors can make a lot of money by using special charts or doing in-depth analysis. It appears that if you follow the advice of people who appear smart, you can become wealthy very quickly. It appears that you can make a killing by using most of your money to buy great companies at low prices and then when prices go up, sell before prices go down. But that is only the way it looks to outsiders. Wall Street is really about separating most people from their money. Wall Street is really a huge casino. The casino owners provide intricate games that create illusions of wealth-building for the "players." The odds of the average trader and investor becoming wealthy from their "play" are very long. The owners structure the odds so that they don't lose. The winners have information we don't have. Wall Street Mythology: Beat the market by doing your research or learning to be a trader or acting on cable TV tips. You need an advisor to win with securities. Buy low and sell high at the right times. Company success stories make good stocks to own.