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10: The Essential Rules for Beating the Market, by Michael Turner
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10 takes you step by step through the process of creating a market-beating stock portfolio, and shows you how to trade stocks using a combination of both fundamental and technical analysis. With this book as your guide, you'll quickly learn how to get into a stock at the right time and, more importantly, when to exit that position. You'll also discover how to view the market and interpret what is happening on a broader scale, so you can maximize profits on individual positions and boost the overall performance of your portfolio.
- Sales Rank: #1285059 in Books
- Published on: 2008-11-10
- Original language: English
- Number of items: 1
- Dimensions: 9.30" h x .85" w x 6.30" l, .89 pounds
- Binding: Hardcover
- 224 pages
From the Inside Flap
If someone told you they knew a better way to make money in today's stock market, would you believe them? What if they said their approach, which only takes a few hours a week to maintain, could double your net worth every three to four years and keep your downside risk extremely low? While this may seem impossible to most investors, author Michael Turner—a civil (and then software) engineer turned professional portfolio manager—has accomplished this objective, and with his new book 10: The Essential Rules for Beating the Market, he'll show you how to do the same.
After selling his successful software company in 1997, Turner entrusted his nest egg to one of the biggest investment firms on Wall Street. And over the course of two years, they proceeded to lose almost half of it! That's when Turner decided to see what he could do on his own, and that's when he discovered that the key to capturing consistent profits in the stock market is having a well-defined set of trading rules and the discipline to follow those rules. With this in mind, he developed a straightforward investment strategy—one based on ten specific rules—that allowed him to build a world-class portfolio of stocks and generate significant returns in any market.
Filled with in-depth insights and practical advice, 10 takes you step by step through the process of creating and managing a market-beating stock portfolio with this proven approach, and shows you how to select and trade stocks using a combination of both fundamental and technical analysis. Following the rules and methodologies outlined throughout these pages, you'll quickly learn how to get into a stock at the right time and, more importantly, when to exit that position. You'll also discover how to view the market—as well as the various industry sectors within it—and interpret what is happening on a broader scale, so you can maximize profits on individual positions and boost the overall performance of your portfolio.
Some of the rules that will improve your stock investing prowess include:
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Know When to Sell
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Never Marry a Stock
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Watch the Institutional Ownership
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Balance Your Risk through Smart Asset Allocation
It is possible to make a significant amount of money in today's stock market, and with the proven principles found in 10, you'll be able to achieve this objective. By following the rules found in this guide, you'll have what it takes to build a world-class portfolio of stocks that will excel in practically any market.
From the Back Cover
"Mike's 10 rules are truly a 'best practices' how-to book for every investor. You will not want to put this book down once you start reading it."
—From the Foreword by Louis Navellier
The key to capturing consistent profits in today's stock market is having a well-defined set of trading rules and the discipline to follow them—whether the market is up, down, or flat. Without this type of plan in place, most investors will eventually fall victim to human emotions and begin to accumulate losses rather than gains.
You don't have to be one of those investors, and with 10, author Michael Turner—founder of TurnerTrends (an online investor tools service) and Sabinal Capital Investments (a Registered Investment Advisory)—shows you what it really takes to make consistent and significant profits in today's stock market.
Written in an engaging and accessible style, this book details the straightforward investment strategy developed by Turner—one based on ten specific rules—that has allowed him to build a world-class portfolio of stocks and generate significant returns in any market. Page by page, you'll become familiar with the rules you must rely on to gain an edge in today's stock market, and how you can use them to select and trade stocks through a combination of both fundamental and technical analysis.
Whether you're a seasoned investor with decades of experience or just getting ready to make your first trade, 10 outlines a unique approach to investing that will help you achieve unparalleled financial success in today's stock market.
About the Author
Michael Turner is a thirty-year veteran of entrepreneurial corporate development. He is currently the President of TurnerTrends, Inc., and is the Managing General Partner of Sabinal Capital Investments, LLC. He manages several portfolios, including a hedge fund where he applies the ten rules in this book to real-world situations every day. Turner is a much sought-after speaker at investor conferences and financial symposiums. He also writes an online weekly market commentary for his clients and subscribers.
Most helpful customer reviews
28 of 29 people found the following review helpful.
It's largely a sales pitch for his advisory service but still has some useful material
By Tim Josling
Overall this is a good book with lots of investment advice that makes sense. I've read over 200 investment books and invested for 25 years and this is one of the better ones.
I do have some concerns about it though
* Exaggerated claims of likely returns. "I want you to set a goal to generate at least 23.8% per year". This raises some red flags in my mind. If you can get 23% pa people will beg you to take $100s of millions of fees per year to manage their money so it seems a stretch.
2. Rule 3 is not actionable. It is just not explained, as far as I could determine, how to distinguish "buy" from "no position". Evidently it is based in some way on the degree of positive momentum but it is not clear how. On the web site it refers to proprietary algorithms i.e. secret ingredients. Read the description of the rule here if you do not believe me:
[...]
3. Rule 10 also seems under-specified.
4. Turner talks like a geek and non-technical people are going to have trouble understanding this material.
Reference is made to a pending patent which is part of his method. In theory if you could find the patent you could implement it. Two problems a) I can't find the patent b) you would be violating the patent so you can't do it anyway.
19 of 19 people found the following review helpful.
Derivative
By Robert I. Katz
Michael Turner states in the Preface that he read a book on investing many years ago that changed his approach to the market. He says it was an early book on technical analysis but curiously, he doesn't give the name of the book. Maybe it doesn't matter.
I would have given this book 5 stars if it had come out before William O'Neil's, How to Make Money in Stocks, but since the two books are very similar and since O'Neil's book came out years ago and is now on its 4th Edition, this book does not seem so impressive. I can't disagree with any of the rules, but one (Don't fall in love with your stocks) seems hardly deserving of an entire chapter and is easily understood, while several others are so abstruse as to be impossible to understand. For instance, Turner recommends using stop losses (no argument from me) but he gives a formula for deriving them that is impossible. Part of the formula involves dividing the square root of "5 Trading Days" by the square root of "252 Annual Trading Days." Huh? Does he mean the square root of 5 divided by the square root of 252? Does he mean the square root of the average price during these time spans? He doesn't explain. The formula, as written, is useless. Similarly, his method of timing the market is uses statistics that are not readily available and depend, in essence, on supplementing the book with his proprietary website. He states that the website is free, but in fact, it seems to only be free for a two week trial subscription. In the end, while this book gives good advice, the details are best left to other, more easily understandable texts.
11 of 11 people found the following review helpful.
Better than most
By William
There is much good advice in this book, and those who follow its methods will probably outperform the market a bit. My research does not agree with Turner's list of the most important fundamentals, but his list will keep you out of serious trouble. I also have serious doubts about his market timing system. According to Hulbert Financial Digest, his newsletters have outperformed the market since Hulbert began following it (3/31/04 - 12/31/08), showing a 14% loss compared to the S&P's 20% loss. So much for the claimed ability to make money in a down market.
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