Stern (To Hell and Back
) offers fierce investment advice, goading readers to admit that their brains get in the way of profits. They must trust “animal instincts” instead, sharpen their claws and get ready to live by the “law of the jungle” to capture prey and “spit out the bones.” With such rhetoric, the system Stern sets forth is surprisingly tame and prosaic (e.g., reviewing investments monthly for underlying value, price direction and market sentiment). Individual strategies include technical analysis (drawing lines on charts to try to guess future price movements), fundamental analysis (valuing companies based on accounting and economic data) and market psychology. This is not a book for beginners; it does not cover the basics of financial planning and assumes a familiarity with accounting and financial data. Although no figures are given, it seems to assume about a million dollars available for investment in liquid securities and enough outside income that the portfolio need not provide cash. This book would be most appropriate for seasoned investors who trust the author's investment acumen and want a blueprint for imitating it. (May)
