Tuesday, October 04, 2005

The Wall Street Journal (Europe) Speaks: Toni Turner

Check out the review Toni received from The Wall Street Journal Europe. Way to go Toni!

The info if you want the whole article (total of 4 book reviews) :

PERSONAL JOURNAL --- Money Matters: Investment Advice Books Turn Down the Volume --- Common Sense Replaces Carnival-Barker Strategies; Buffett's Way Gets Its Due
By Adam Najberg Dow Jones Newswires 1,855 words 30 September 2005The Wall Street Journal EuropeP8English(Copyright (c) 2005, Dow Jones & Company, Inc.)


The article:

AFTER LOSING THOUSANDS in the stock markets when the tech bubble burst in 2000, the last thing I've wanted is investment advice from anyone.

I would have lost more, but I'm a journalist, not Richard Branson. Still, there was enough red ink in my brokerage account to make me decide that from then on I'd stick to three simple investment principles: No tips from friends, no hot strategies from investment advisers and absolutely no books. The ones I acquired as an avid reader during the 1990s gathered dust on my shelf.

Nothing is forever. I returned to the bookstore recently to check out the new crop of investment books that has sprouted since U.S. markets alone lost over $10 trillion, or about 8 trillion euros, in value between 2000 and 2003. I'm glad that I did.

The brightly colored covers and shrill titles that screamed, "Buy me, I'll make you tons of money in a week!" are no more. They've been replaced by more muted offerings in pastels and primary colors with titles that sound more college professor than carnival barker.

"Do-it-yourself" financial guides in the Sarbanes-Oxley era are far more sober and mature than those of just a few years ago. Most acknowledge the excesses of the late 1990s and suggest a "to thine own self be true" approach to investing. Authors have lowered their readers' expectations and warn them to know what risk they're willing to take.

For this review, I picked four books from this year's batch, each offering a different sort of advice on where and how to invest your money in today's volatile, regulation-heavy markets. All are available in English-language bookshops across Europe or within one or two days if you order online from the U.K.

...SKIP TO GOOD PART ABOUT TONI....

Short-Term Trading in the New Stock Market
By Toni Turner (St. Martin's Press, 356 pages, GBP 24.95)

Three words: Buy this book! Toni Turner is a trader and the best-selling author of two other books on day trading for beginners, and a fan of the exclamation point.

As part of a dialogue with those who have read the author's previous works, this postbubble book proposes to update readers "on the current financial marketplace, the way it works and ways you can profit from it." But it also works well as a stand-alone for those who have never tried to trade for profit before.

Ms. Turner says her intent was to talk to the reader about trading "as though we are good friends, chatting over a cup of coffee." After an overly peppy first couple of chapters -- more like two friends chatting after two double espressos -- her gentle and deft delivery guides you through the jargon and technical aspects of the trading world in a clear way.

You learn everything from how to open an account to how to determine whether you should execute a "moving average leapfrog" or some other trade. Ms. Turner urges readers to look closely at themselves to determine their acceptable levels of risk, to become students of the markets and to develop several "core trades" around which they can earn a living in the markets. She reinforces her points at the end of each chapter, making the book valuable as a reference guide even after you've read it cover-to-cover.

The middle of the book is chock full of specific technical trades, charts and hot tips for day traders that -- momentarily -- made me want to violate the second of my three cardinal investment rules.

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