Full of Bull: Do What Wall Street Does, Not What It Says, To Make Money in the Market
by Stephen T. McClellan
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Book Summary Information
Author: Stephen T. McClellanEdition: Hardcover
Audio: English (Original Language); English (Unknown); English (Published)
Published: 2007-10-20
ISBN: 013236011X
Number of pages: 240
Publisher: FT Press
Accessories:
- Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital Made a Fortune Investing in the Stock Market
- Beating the Market, 3 Months at a Time: A Proven Investing Plan Everyone Can Use
- Gene Marcial's 7 Commandments of Stock Investing
Book Reviews of Full of Bull: Do What Wall Street Does, Not What It Says, To Make Money in the Market
Book Review: Inside the world of a Security Analyst
Summary: 4 Stars
Buy this book if you would like to take a look inside the world of investment banking and how security analysts really operate. After reading this book you will not take buy and sell recommendations as seriously. This book recommends that when a strong buy is reduced to a buy it is a warning to institutonal holders and it is a good time to sell, and when a buy is changed to a sell it is a good time to buy due to all the bad news being out.
The author tells about his daily experiences as a stock analyst, his schedule, amount of travel, and that only 20% of his time was spent in research, the majority of tim is spent keeping clients of the investment bank happy. You will learn all about the conflicts of interest that exist in ranking stocks and the politics involved. The author gives his opinions on how the industry should be cleaned up by making resarch separate from the bank and the analysts should be held accountible on how their recommendations perform. The author gives solid investment advice through out the book, but it is rather basic. I was a little disappointed in not getting the inside insight that I believed he may have.
Legendary investor Gerald Loeb on stock analysts:
"In a bull market,you don't need them, in bear market, you don't want them."
Summary of Full of Bull: Do What Wall Street Does, Not What It Says, To Make Money in the Market
"I am going to initiate coverage on this book: BUY! The title perfectly encompasses the theme of the book. Stephen McClellan, a Wall Street analyst for 32 years, highlights common practices of research analysts and what they mean for individual investors. This is a quick read, filled with anecdotes from Stephen's long career and his sound investment advice. Full of Bull does not contain get rich quick schemes or any unique trading strategies, just observations from one of the industries greatest analysts."--Wall Street Reporter
"Only Stephen McClellan could have written this book. As a senior statesman of industry analysts, Steve has worked in the inner circles of Wall Street for over thirty years. When Steve talks, everyone in the industry listens. This book is like a college extension course for investors, and it's taught by the Dean."
-H. Ross Perot, Sr., Founder, Electronic Data Systems, Founder, Former Chairman, Perot Systems
"Steve McClellan has drawn on an insider's lifetime view of how Wall Street really works to produce a practical and entertaining book of advice for investors. Whether you are a new or experienced investor you'll get something valuable out of it, including more than a few chuckles."
-Charles O. Rossotti, Former Commissioner, Internal Revenue Service
"Steve McClellan's Full of Bull provides a long overdue insight into the confusing maze of Wall Street analysis and stock recommendations. This book exposes The Street's "insider code" and provides both a cautionary tale and an indispensable guide into the Byzantine world of investment analysis."
-Thomas M. Siebel, Founder, Siebel Systems, Chairman, First Virtual Group
"Steve McClellan is one of the smartest guys in the investment industry. For years his research helped investors figure out how to get better returns. Now he's collected a career's worth of observations and conclusions about how Wall Street works and how to avoid the mistakes that cost ordinary people millions-no, billions-of dollars everyday. Read this book and have more money for your retirement.''
-Doron Levin, Columnist, Bloomberg News
"Today the typical share is held much less than a year, usually by an institution, speculator, or insider whose gains are at the expense of the under-informed or mis-informed individual investor. Securities analysts are of little help. With his 30+ years of relevant experience, Steve McClellan tells you why and how to better protect yourself if you're an individual investor."
-Josh W. Weston, Former Chairman, Automatic Data Processing
Buy! Outperform! Hold! What are stock analysts really saying? How do you read between the lines, decipher their insider code, put their research in context, and use it to actually make money? Read Stephen McClellan's Full of Bull and find out. For decades, McClellan was one of the Street's leading analysts. He knows exactly how the game is played. Now, for the first time, he reveals the Street's secrets and misleading signals, putting you on a level playing field with the world's biggest institutional investors.
Discover how to do what Wall Street does, not what it says...uncover analysts' hidden influences, biases, and blind spots...react appropriately to upgrades, downgrades, and price targets...decide which research to ignore completely...bring a clear eye to company announcements...avoid the disastrous mistakes individual investors make when they use analyst research. Drawing on his immense experience analyzing top companies, McClellan shows how to do your own research, systematically evaluate a company's prospects, and choose investments based on core principles that work. Forthright and bold, Full of Bull offers objective, focused guidance you should be getting from your broker...but aren't!
Decode the Street's hidden signals and misconceptions
Filter out the noise, find the truth, and profit from it
When "hold" really means "sell right now!"
Cautionary tales, powerful lessons
Where to find the Street's best research...
And how to avoid the worst
The real keys to a quality investment
More than 40 principles, strategies, and practices that work
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