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Book: Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital Made a Fortune Investing in the Stock Market :: Robert Kiyosaki|Books :: Book
Date: Thursday, 08 January, 2009 :: 04:21
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Invest Like a Shark: How a Deaf Guy with No Job and Limited Capital Made a Fortune Investing in the Stock Market
List Price: USD $25.99
from USD $15.52
Product Group: book
Manufacturer: FT Press
Studio: FT Press
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Editorial Review: Product Description
Profit from Your Unique Advantages as a Small Investor--Speed and Flexibility! "The book you are holding is, hands-down, one of the most original and insightful books I have ever read when it comes to teaching you, the individual investor, not only why you have the ability to beat the Whales of Wall Street, but also how you can do it." --from the foreword by James J. Cramer, CNBC's Mad Money and TheStreet.com "Even investors who concentrate on fundamentals can benefit from Jim DePorre's Shark approach to investing. At the very least they will know why, for a time, they can get the facts right but the stock wrong." --Herb Greenberg, senior columnist, MarketWatch.com "There are very few traders who have RevShark's intuitive feel for the market. I especially appreciate Rev's unique ability to recognize and utilize the distinct advantages of being a smaller, individual investor versus the less agile large institutions." --Barry Ritholtz, Chief Investment Officer, Ritholtz Capital Partners As an individual investor, you can swim circles around the "whales" of Wall Street!by investing like a shark!In this book, James "RevShark" DePorre reveals how to maximize your powerful and unique advantages as a small investor: speed and flexibility. You'll develop a completely new way of looking at the stock market, learn when to attack, how to move aggressively, how to stay flexible!and when to swim away in the face of danger. You'll learn why "buy and hold" is today's riskiest strategy!and exactly what to do instead. In short, you'll learn the same disciplined investment techniques that helped DePorre build a tiny nest egg into a huge fortune and transformed his life. If you read TheStreet.com, RealMoney.com, or SharkInvesting.com, you already know DePorre and his inspiring personal story of how he lost his hearing, career, and marriage!turned to online investing out of desperation!and succeeded beyond his wildest dreams. Now, in this fast-paced, insightful, and entertaining book, DePorre shows how you can do it, too. How to invest like a shark!* Stay in motion, trolling for your "next meal" Stalk your prey patiently, relentlessly, and without emotion*Move fast when there's blood in the water Know when to strike*Know when to swim away Sell when you sense danger*Feed on the frenzied crowd Profit from others' fear, despair, stupidity, and greed*Use all your unique advantages and strengths Leverage small caps, technical analysis, and the tremendous power of cash*Invest with the shark's attitude Be active, adaptive--and control your own destiny
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Reviews:
Average Customer Review: 
Summary: Excellent for any trader -- new or professional. excellent concepts that should be part of ye BLOOD AND BONES
Date: 2008-12-12 - 
Comment: This review/synopsis is not motivated by any affiliation with the author or vested interests beyond those that result from applying the principles promulgated in the book successfully. Rather, it is for my keen interest to finalize my appreciation for it, to inculcate its message even further, and indeed, to spread the good word for those investors whose capital is not in the billions. For these investors, James Deporre's (aka, RevShark's) Invest Like a Shark has great potential to be a central piece of their trading education. In Rev's unencumbered, incisive prose, one will find a path to investing - which he calls Shark Investing - that offers a way to reckon with the increasingly incendiary twists the financial markets level with a sense of aggression and retreat, with respect and steadfastness, with blood-seeking appetence that is not belied by overindulgence. If one takes the time to learn more about actual sharks, the epithet "Shark Investing" is all too natural. Now it would be a great disservice to you and far too great a challenge for me to encapsulate the book's message without actually quoting from it directly. Thus, in what follows, you will see some of the rubrics of Shark investing through the author's own words. But keep in mind that several key points and anecdotes that bind the approach together have been left out in so doing.
In the first part, Rev characterizes the approach, describes the motives behind its development, and distinguishes it from its antithesis - the methods espoused by the so-called whales. You know who they are: "the big and well-informed", those who "determine how a stock moves", the "giant Whales of Wall Street" who "can't move without making some waves." Stressing the empowering benefits of a reactive approach to the waves made by these whales, Rev states that "focusing primarily on a stock's price action rather than the story of the company behind the stock was the first step in finding an approach to the market that provided (him) with a real advantage." Now as an aside the emergence of Rev himself came about during the mid-to-late nineties, but as he states, what allowed him to keep the gains running despite the crash of 2000 was "disciplined money management". Central to any successful trader and not just a Shark Investor, he recounts: "When the market began to fall apart, the disciplined money management techniques I had developed helped protect me. I never allowed losses to run, I stayed diversified, and I refused to give back profits. I protected my capital before all else, and it paid off." How much more timely would have this book's publishing been had it appeared in early 2007 is something that is far too obvious given the history this market has made; thankfully, RealMoney.com has had Rev throughout on a daily basis, and many have come to see in real-time just how hard and simple Shark Investing can be.
Rev thereafter declares the shark's calling: "Shark Investing is an approach to the stock market designed to capitalize on the many unique attributes and advantages that the smaller investor possesses. Shark Investors use their small size, quickness, and aggressiveness to outmaneuver and outrun the Whales of Wall Street." With this in mind, Rev delineates the key attributes of a Shark Investor: 1) Sharks are aggressive; 2) Sharks are opportunistic and reactive; 3) Sharks stay in motion; 4) Sharks plan their attacks; 5) Sharks are patient while they stalk their prey; 6) Sharks take advantage of the emotions of the crowd as it becomes frenzied and emotional; 7) Sharks don't have emotional or sentimental attachments to the stock they profit from; 8) Sharks are risk-averse and do not hesitate to swim away the moment they sense danger ;9) Sharks have an attitude. Naturally he expands on each attribute in detail. The overriding theme throughout is to "take control of your own well-being rather than letting market forces push you where they please."
To begin the second part, Rev argues that long-term buy-and-hold investing (hereafter LTBHI) is far riskier than Shark Investing. In so doing he cites several examples, counters the commonplace belief that Warren Buffet's style is worthwhile to emulate, and gives specific reasons as to why it is in Wall Street's best interests to hook investors on the merits of LTBHI or other forms of highly passive investing. Indisputable evidence is presented, including the point that above all else, the "financial industry makes money by holding on to your financial assets....by so doing, they can take a fee whether or not they help you profit." Conversely, an abstract from Jim Cramer's Confessions of a Street Addict punctuates the idea that for big money folk, access to the best advice and money flows depends mostly on the commissions or trading volume generated by the given client. Thus one of the fundamental food chains of the industry is identified; a parasitic one from the individual investor's vantage. What is optimal for the industry is not optimal for the individual investor. Furthermore, with regard to the media's role in all this, "what we end up with in the media is advice from someone who manages billions of dollars and has absolutely no appreciation or understanding of the circumstances of the individual investor." Above all else, among the key points here is that "if you hope to succeed in the market, you have to go it alone, like the solitary shark."
Rev then identifies and dispels some "Myths of Wall Street." In detail, he cites, Myth1: Buy Low, Sell High; Myth2: Small, unknown stocks are only for reckless gamblers; Myth3: You can't time the market, so you should stay full invested at all times; Myth4: Beating the indices should be your primary focus; Myth5: Everyone has access to the same information; Myth6: Stock charts are useless voodoo; Myth7: You should buy what you know. He concludes this part of the book devoted to understanding how the market really works by explaining various market dynamics, mood swings, feelings, and irrationality. Among the processes at work in any given environment, in one sub-section, Rev applies an understanding of market action through the "five stages of mourning that individuals go through when confronted with a loss": 1) Denial; 2) Anger; 3) Bargaining/rationalization; 4) Depression; 5) Acceptance. Everything from the "Wall of Worry and the Slope of Hope" to the "Fear of a Crash" to the "Fear of being left behind" to our favorite these days "The good news about bad news" is covered thoroughly.
The final and most important part of the book is then upon us: "Becoming a Shark Investor." It is here where one finds oneself bringing together pre-defined principles in order to produce the exponential improvements that come from a good lesson. The chapter titles in order are: Implementing the Shark Investing Style; Charts: Navigating the Market Seas; Portfolio Management: the key to success; Fundamental analysis: Quick and easy is all you need; DEVELOPING YOUR INNER SHARK; Putting it all together; Learning is a never-ending process; Investing/Trading as a career. As one can see, I place special emphasis on the chapter devoted to developing one's own inner shark. The chapter begins with the refreshing qualification that: "Shark investing is not a rigid, structured approach to the stock market with an UNVARYING set of rules. It is a MIND-SET that frees investors from the constraints of traditional Wall Street and focuses on using the flexibility and the many advantages that the individual investor possesses." Apart from the extremely important chapter that describes the implementation of the Shark Investing Style, this chapter is my favorite. In it various kinds of sharks are described, such as, Sand Sharks, Bull Sharks (no, these aren't sharks that ONLY buy :]); Nurse Sharks; Mako Sharks; Tiger Sharks; Hammerhead Sharks; Whale Sharks; and lo, the Great White Shark.
From the opening paragraph, one can tell I enjoyed this book very much. But I can tell you what is even more enjoyable is applying what it teaches you and profiting from it. My advice to you is not to trade AT ALL while reading the book. First read it, complete it, contemplate what your inner shark may be at length, that is, certifiably conclude what strengths you have and which you lack when put against the Shark Investing Style, and only then re-commence trading. I leave you with the entirety of the section devoted to the Great White Shark, undoubtedly the species evolution RevShark personifies:
"Great White Sharks are the most deadly of all the sharks. They amalgamate the skills of many different sharks and develop a truly unique and personal style that suits their abilities, emotions, and personalities. The Great White combines chart reading, momentum, reactions to news, and a variety of other things in various quantities to arrive at a market-beating style.
The essence of Great Whites is that they are in tune with what they do best, and they do it aggressively. Nothing is more likely to produce great results than enjoying what you do and doing it with great vigor."
-VC
Summary: Trade what you see...not what you think
Date: 2008-11-15 -
Comment: This book taught me to trade what I see, not what I think. It deals with investing psychology or human emotions. In my opinion all results stem from our actions which in turn are based on our philosophy. People lie, market price movements do not. This book was very helpful to me as an investor in achieving my investment goals. The greatest lesson I learned from this book was sell discipline... It's like insurance, sell early and often. There is no reason to try to act like a mutual fund. Most investors squander their greatest advantage over WallStreet Whales....the ability to move quickly.I highly recommend this book.
3 of 6 people found the following review helpful:
Summary: A Disappointment
Date: 2008-08-14 - 
Comment: This is a surprisingly mediocre book. And I say that as someone who respects James DePorre a great deal. When I finished the book (in about two hours, and I'm a slow reader) I found myself asking, "where's the beef?"
There's not much beef here. It's very simplistic. It's a pedestrian read, which feels as if it were written in about a weekend, as if a publisher said, "hey Jim, you're popular now, why not write a book real fast and we can make some money?" No humor, no style, no real imagination.
Again, I really respect RevShark. I have been reading his work for years on RealMoney. His columns are witty, insightful, and literate. But his book reads as if it were written for a first-grader, and a slow first-grader at that.
I don't understand it. The only explanation I can come up with, was that it was written by someone else. Shockingly mediocre. Save the money on the book, and subscribe to RealMoney, and read RevShark's columns on the web site. It will be money much better spent.
2 of 3 people found the following review helpful:
Summary: Great Intro for New Investors seeking Motivation
Date: 2008-07-12 -
Comment: I have seen many reviews stating that this book "offers nothing new". I agree, however there is one important point that I would like to address about this book:
Even though this book doesn't offer anything new, it offers for experiences individuals a path back on track. Before reading this book, I knew investing and often hedged, however over time I began be become emotional about the stocks. This book allowed me to get on track and I wasn't derailed no more.
So if you are experiencing some bearish portfolio outcomes, it may be the book to read, even if you are experienced trader or investor.
Newbies: It doesn't stop here!
2 of 3 people found the following review helpful:
Summary: Great book
Date: 2008-06-09 -
Comment: The author has given good tips on buy and sell timing on the stocks. The theme is around preserving your capital and not making too much loss.
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Accessories:
Gene Marcial's 7 Commandments of Stock Investing
Beating the Market, 3 Months at a Time: A Proven Investing Plan Everyone Can Use
Full of Bull: Do What Wall Street Does, Not What It Says, To Make Money in the Market
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