Yes, You Can Time the Market!

"‘Buy and hold’ makes sense for the average investor in stocks. Even better, say Stein and DeMuth, is to buy only when prices are low and hold when prices are high, keeping accumulating savings in Treasuries while waiting for ‘low’ prices. They define ‘low’ and ‘high’ prices by historical experience. An interesting and thoughtful analysis."
–Professor Milton Friedman
University of Chicago, Nobel Prize in Economic Science, 1976
"Wall Street, prepare yourself. Ben and Phil hit the nail on the head with their insightful guide to investing. No gimmicks, no games, just tapping the true power of economics to make sensible investment decisions. Add to that the authors’ dry wit, and this handbook is a must–read for investors small and large."
–Diane C. Swonk
Director of Economics, Chief Economist, Senior Vice President, Bank One Corporation
"The logic and reasoning are persuasive. Stein and DeMuth buttress them with evidence, lots of it. The term ‘valuable’ properly applies to the guidance of the conclusions."
–C. Lowell Harriss
Professor Emeritus of Economics, Columbia University
"How refreshing to read commonsense advice about the stock market! Stein and DeMuth’s findings are both verifiable and free of quantitative trickery. What’s more, their writing is as clear and straightforward as the methods they recommend."
–Martin Fridson
author, It Was a Very Good Year: Extraordinary Moments in Stock Market History

Spis treści:
Chapter One. The Impossibility of Market Timing.
Chapter Two. The Power of Price.
Chapter Three. The Price/Earnings Ratio.
Chapter Four. Dividend Yields and Market Timing.
Chapter Five: Fundamental Value.
Chapter Six. Bonds, Price–to–Cash Flow, Price–to–Sales.
Chapter Seven. Combining Factors for Superior Returns.
Chapter Eight . Using Market Timing.
Chapter Nine. Looking Forward: A Note of Caution.
Appendix.
Bibliography.
Index.

Nota biograficzna:
BEN STEIN is best known as the former host of Comedy Central’s Emmy Award—winning game show Win Ben Stein’s Money. He is also an economist, humorist, investor, lawyer, and actor. The author of several books on finance, his essays and columns have appeared in such publications as the Wall Street Journal, Barron’s, and Forbes.
PHIL DeMUTH is an investment advisor and PhD psychologist who has a longstanding interest in the stock market and has written for the Wall Street Journal and Barron’s, as well as Human Behavior and Psychology Today.

Okładka tylna:
"‘Buy and hold’ makes sense for the average investor in stocks. Even better, say Stein and DeMuth, is to buy only when prices are low and hold when prices are high, keeping accumulating savings in Treasuries while waiting for ‘low’ prices. They define ‘low’ and ‘high’ prices by historical experience. An interesting and thoughtful analysis."
–Professor Milton Friedman
University of Chicago, Nobel Prize in Economic Science, 1976
"Wall Street, prepare yourself. Ben and Phil hit the nail on the head with their insightful guide to investing. No gimmicks, no games, just tapping the true power of economics to make sensible investment decisions. Add to that the authors’ dry wit, and this handbook is a must–read for investors small and large."
–Diane C. Swonk
Director of Economics, Chief Economist, Senior Vice President, Bank One Corporation
"The logic and reasoning are persuasive. Stein and DeMuth buttress them with evidence, lots of it. The term ‘valuable’ properly applies to the guidance of the conclusions."
–C. Lowell Harriss
Professor Emeritus of Economics, Columbia University
"How refres hing to read commonsense advice about the stock market! Stein and DeMuth’s findings are both verifiable and free of quantitative trickery. What’s more, their writing is as clear and straightforward as the methods they recommend."
–Martin Fridson
author, It Was a Very Good Year: Extraordinary Moments in Stock Market History