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Taming the Money Sharks: 8 Super-Easy Stock Investment Maxims


"Professor Philip Cheng is familiar with both the academic theory of investment and the real world of decision making. His book Taming the Money Sharks comprises a wealth of do's and don'ts for the individual investor to follow. Not even Professor Cheng can guarantee unlimited investment success, but the reader who follows the advice in this book will surely avoid making fundamental errors in managing his own investments. Taming the Money Sharks should be compulsory reading for all those who wish to invest rather than merely save money."
—STUART LECKIE, OBE, JP, Chairman, Stirling Finance

"Philip Cheng provides a valuable service. Taming the Money Sharks does not condescend or tell people to leave investments to a 'professional.' Instead, he teaches people how to build on their own knowledge to trade stocks successfully, providing plenty of tips and real-life examples along the way. This is a useful book for people determined to take charge of their own investments."
—JAME DiBIASIO, Editorial Director, AsianInvestor

"In the aftermath of the global financial crisis, it is essential that investors become better educated. In fact, this is one of the goals set by the G20 in terms of 'investor education and protection.' Sadly, not much progress seems to have been made so far. Taming the Money Sharks uses simple language and simple examples to explain how the markets work and makes them accessible to all. Philip's book can equip investors with some commonsense notions that seem to be so sorely lacking."
—VERONIQUE A. LAFON-VINAIS, Associate Director, Center for Asian Financial Markets; Adjunct Associate Professor, Department of Finance, HKUST

Down-to-earth strategies guaranteed to make you "shark-proof" while optimizing your investment returns

There are lots of books out there offering sure-fire formulas, fool-proof systems, and can't-lose schemes for making a killing in the stock market. What makes this book different is that it was written by a top investment professional with no interest other than to give the "little guy" a chance to realize his or her financial goals over time through prudent stock investing.

A Chief Investment Officer who, over the course of his long and distinguished career, has had as much as US$2 billion under management, author Philip Cheng knows all the tricks and games that the Big Boys play. In Taming the Money Sharks he distils a lifetime's experience into a set of 8 simple rules of the road that will help you steer clear of potential investing hazards (and the money sharks).

Acknowledgments xiii

Preface xv

Author’s Disclaimer xix

Chapter 1 Stop the Bleeding

Should You Continue to Invest by Striking While the Iron Is Hot? 1

A. Chasing a Hot Stock 3

B. Chasing a Hot Trend 8

C. Maxim No. 1: Don’t Rush into Buying, and Avoid Further Bleeding 11

Chapter 2 Select an Industry to Increase Probability of Profitable Investments

Apply Expertise from Work or Personal Interest 19

A. Basic Knowledge 20

B. Choosing an Industry to Invest In 25

C. Industry Characteristics 41

D. Maxim No. 2: Profit from One Chosen Industry or a Selected Few Industries 44

Chapter 3 Wise Use of Information Resources

Should You Follow Hot Tips? 49

A. Listen to a Friend or Relative 50

B. Listen to a Stock Guru 54

C. Listen to a Stock Analyst 56

D. Listen to an Investment Advisor 59

E. Listen to a Large Investor (Possible Shark) 61

F. Maxim No. 3: Reference External Inputs but Stay Focused 65

Chapter 4 Decide on Company Values and Buy-Sell Prices

Should You Trust a Company with Your Money? 73

A. Relevant Company Historical Facts 74

B. Most Basic Financials 84

C. Five Key Indicators 86

D. Don’t Be Blind to a Company’s Personality 98

E. Deciding on Buy-Sell Prices 100

F. Maxim No. 4: Trust but Verify 103

Chapter 5 Simple and Effective Portfolio Strategies

Do You Want a Windfall Profit or a Systematic Win? 111

A. Portfolio Planning Guidelines 112

B. Core versus Satellite Portfolio 115

C. Portfolio Risk Management 122

D. Maxim No. 5: Manage and Accept Portfolio Risks 132

Chapter 6 Capitalize on Policy Directions

Are Policies Your Friends? 145

A. Are Policies Fair? 146

B. Policy Directions 147

C. Maxim No. 6: Profit from Policies and Trends 153

Chapter 7 Loving an Investment or Loving to Make Money

Falling in Love 157

A. Is “Love” Forever? 158

B. All-or-Nothing Thinking 160

C. Love a Person? Invest for Love? 162

D. Maxim No. 7: Emotions and Investment Don’t Mix 166

Chapter 8 Fully Enjoy Your Profits from Stocks Rich and Healthy or Rich with Pain 171

A. Manage Your Investment Lifestyle and Health Simultaneously 172

B. Swap Poor Health for Big Money 173

C. Investment Emotions That Are Detrimental to Our Health 175

D. Investment Flowchart 179

E. Maxim No. 8: Maintain Health and Wealth 180

Appendix A: Basic Technical Analysis 183

Appendix B: Deciding on Buy Prices 189

Appendix C: Deciding on Sell Prices 195

Appendix D: Strategy for Investing in High-Dividend (HD) Stocks 201

About the Author 207

Index 209