Book Club: How to Buy - Justin Mamis
How to Buy, by Justin Mamis is one of a 3 book series on stock market investment. I reviewed his lesser known (and significantly better) book “On the Nature of Risk” and was blown away. I’ve also read his corresponding “How to Sell” book and will get around to summarizing that once I pick it up for a re-read this year.
Mamis is a technical trader, and his methods are to use basic price/volume indicators in order to identify accumulation of stocks (before the big move up). You can certainly read his book for the explicit ‘strategy’ of buying, however the real value is in the subtle bits of market knowledge and psychology he imparts on his readers.
Mamis has a way of walking through his case studies of individual stocks that make the price action seem like an unfolding story. If you listen carefully, you can pick up the bits of mass crowd psychology and behavioral trends of ‘insiders’. This is the good stuff that just doesn’t get touched on in modern literature on the market.
He approaches the market as a game, which it certainly is. Mamis believes in playing to win (within the constraints of risk of course) and really wants to see his readers trade from that frame.
Buy all three, and read this one last as selling stocks and risk are much more applicable to this current overbought bull market. May them all bring you as much market success as you deserve.