Wall Street on Sale

by Timothy P. Vick and Vick

Book Overview

Including tips, tools and strategies to help investors uncover bargains in the marketplace, this text outlines core principles designed to ensure secure and profitable investment. This description may be from another edition of this product.

• Format: Hardcover
• Language: English
• ISBN: 0071342052
• ISBN13: 9780071342056
• Release Date: December 1998
• Publisher: McGraw-Hill Companies
• Length: 289 Pages
• Weight: 1.40 lbs.
• Dimensions: 1.2" x 6.3" x 9.3"

Customer Reviews

Excellent book for all investors

Vick ties in many important aspects of investing in one book. He includes the strategy of Graham, Buffett, Fisher and other top tier investors to explain how anyone can profit from their simple methods. If you are pressed for time and do not have the luxory to read Security Analysis, Common Stocks and Uncommon Profits, and the many Buffett books available this is a great opportunity to pick up on what each author has to say. This book is even great for those who need to refresh their memory about ''value investing'' or even need a reality check due to the bizarre internet stock craze.

Value investing is a era of day trading -- how refreshing!

Part of my summer reading list is to read more about value investing. I highly recommend Timothy Vick's book; "Wall Street On Sale". Congratulations on a great read. Very good use of Buffett quotes throughout. Excellent investment primer as well as a refresher for experts. One of my favorite sections is how this book is one of the few to point out how corporations resort to financial trickery and deception.Mr. Vick helped me realize that I have always been a `value' investor with basic principles instilled during childhood. Before reading this book I didn't realize that I have been a value investor my whole life. It's in my bones. And as Tim points out so well, why shouldn't the virtue of value naturally extend to Wall Street and our investments. Chapter Two points out that when you switch long distance phone companies to get the lowest rate, use two for one coupons, go to matinee movies, recycle, purchase used cars, self park instead of valet, visit the outlet mall, prepare your own taxes, or use a discount broker, you are value investing.Tim points out that `cheap investing' isn't the same as `value investing'. Mr. Buffett calls this `cigar butt investing'. Buying a stock in order to get one or two more puffs of earnings. Something he used to do and did with the original Berkshire Hathaway. Berkshire Cotton Mills turned out to be a cheap investment or cigar butt investment, not a value investment.This book does an excellent job explaining that diversification and dollar cost averaging both lead to mediocrity.How about this gem: "The stock market is like perfume. The more you pay for it the better you feel."Chapter Four does a great job attacking the Efficient Market Theory. More professors of finance need to read this book.Chapter Six talks about Decade Trading in a day trading world. Tim is a proponent of investing like a businessperson, like you're buying a part of a business. This section has excellent data and research to debunk market timing. Good Seven Commandments of Investing but he forgot the Eighth Commandment: remember taxes. Value investors by their very nature must consider the tax impact of their investments. Whenever you can defer taxes you are adding to the return of your investment decision. Excessive traders pay 3% of their annual returns on average to the government.In Chapter Seven Mr. Vick talks about buying all of a business, both private and public. Mr. Buffett defines this activity as a negotiated purchase. In other words the price isn't set by the stock market but rather negotiated between buyer and seller.Dividend decisions in Chapter Nine are also a function of management's ability to allocate capital. If management can get a better return by retaining a $1 of earnings and increase intrinsic value by more than $1 it should. If however $1 of retained earnings doesn't increase intrinsic value of the enterprise by at least $1, earnings should be returned to the shareholders in the f

Wall Street on Sale is the BEST-- by a longshot!

For more than two years, my husband and I have been searching for a one-stop shop primer on how to pick a good stock and build a portfolio. Wall Street on Sale is it. It is carefully researched, answers every question an investor wants answered (how to find value, how long to hold, when to sell, how many stocks to own, how to maximize returns, etc.), and is wonderfully written. I have also read some of the books on Warren Buffett and value investing and found Wall Street on Sale to be the BEST- by a longshot. The author's early chapters on contrarian investing and ignoring the market are as potent and groundbreaking as you will find. His later chapters on valuing companies give even more detail than anything Peter Lynch has written. A lot of investing books seem to be written just to build the author's fame or to entice you to use a system that may work short term. I got the impression from reading Wall Street on Sale that the author truly wanted to help investors understand the complexities of the market. This book will convert any reader instantly to the value side. Anne Dennison, Tinley Park, Illinois

Useful and practical guide to value investing techniques

Wall Street on Sale:I have just finished reading Timothy Vick's book and found it extremely useful. There's a lot of practical information packed into the book. An investor is well advised to read the book a few times. The book stays true to the teachings of Ben Graham, but ventures to Buffett where appropriate. The author explains techniques Graham used and how Buffett has built on these principles to come up with his own style. The book explains things in a complete and practical manner that I can immediately apply. I recommend the book highly for both novice and intermediate level investors wanting to better understand 'value investing'. Since reading this book, I have also subscribed to the author's value investing newsletter.