Wolf Review(Share Attack: 80 great tips to survive and thrive as a trader by Malcolm Stacey)

 

(Contents)

I always like picking up books written by authors who themselves are investors or traders, it adds an extra layer of authenticity to their story. Shark Attack : 80 great tips to survive and thrive as a trader by Malcolm Stacey is one such book. I presumed the author is base in UK as all the examples given in the book were UK companies. 

He believes the stock market is a great place to accumulate wealth(like I do) if one learns the rope to be an informed investor. Everyone with basic financial knowledge can do well in the stock market.

Some evergreen rules investors shouldn’t forget.

1.) Ride your winners, dump your losers.

2.) The trend is your friend.

3.) Buy on rumour, sell on the fact.

4.) Never catch a falling knife.

5.) A rising tide lifts all boats.

6.) Buy on dips, sell on peaks.

7.) Some big recovery could be merely dead cat bounce.

8.) You have all the time in the world to make a trade.

9.) If a deal’s is too good to be true, it will probably be.

10.) Never wrong to take a profit.

And some ancient wisdom worth remembering 

1.) A rolling stone gathers no moss. If we keep chopping and changing our shares, we will never make much profit.

2.)Too many cooks spoil the broth. If you spread your money too thinly, you wouldn’t make a killing even if a few rising like rockets.

3.) You can’t have your cake and eat it. Once sold don’t look back. Don’t behave as you still hold the share.

4.) A little knowledge in the stock market is a dangerous thing. Do a thorough research.

5.) A new broom sweep clean. A new management with better reputation than the old is worth looking out for.

6.) Action speaks louder than words. Rate concrete result in annual reports above the cheery annual report speeches of chairman and Chief Executive. 

I enjoyed reading the book, although the data given was a bit dated but each study case is worth learning from. It opened my horizon to many great companies listed on London Stock Exchange. Stocks listed on LSE might one day features more prominently in my portfolio. The book goes onto Lone Wolf recommendations due to it bite sized examples which made it an easy read.

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