Rating: 
Summary: I'M GETTING INCREDIBLE RETURNS FROM A INCREDIBLE BOOK!!!
Review: I have read most of the other books on stock market investing. Several factors make Wall Street Money Machine a MUST READ FOR ANYONE WHO IS SERIOUS ABOUT MAKING MONEY; 1) It's easy to read, it can be read in a few nights and you don't have to be a rocket scientist to comprehend the contents, 2) It's based on proven techniques that really do work, and 3) Once you see the Wade Cook strategies "properly" and the key word is "properly", you'll never go back to the old way of trading ever again. The key for me with this book was that it got me to take action. I have a library of all of the most popular books on stock market investing. Wall Street Money Machine got to me to go from a reader to a trader I've been recommending this book to all my friends and relatives and anyone WHO WANTS TO MAKE MONEY. I started off by investing in a bank stock that announced a 3/2 stock split. I bought two option contracts (less than a $400 investment) and made $1,860! in just under 2 1/2 weeks. I am BIG on OPTIONS and may be one of the only people that actually goes beyond what Wade Cook suggests (Wade recommends you never invest more than 5% of your portfolio) I usually have 50-75% of my portfolio in options either straight calls.puts, spreads, selling puts, straddles and covered calls. I have to admit that I started very conservatively with covered calls and going long in buying stocks; that wasn't fast enough for me and I didn't have that much money to play with so I really couldn't afford to buy stocks per se. The options made it possible. I then re-invested the profits. NOW, I am getting back into the covered call game. It's more profitable when you can buy 600-700 shares of a stock and get good premiums. Ditto for the dividend strategy and tax credits. I'm also building a portfolio of good stocks with LEAPS as opposed to buying the stock itself. Again, it's so much cheaper and I can play more companies when they split and not lose ! sleep as I lots of time before they expire. I think that ! investors need to determine their own risk tolerance. I'm the kind of guy that is more concerned about opportunity cost-the deals that I missed that were big winners rather than the deals that I played and actually lost a little money on. I do not recommend that you throw caustion to the wind. The stock market is very risky, and option playing is the riskiest game of all. The safest way to start would be to buy LEAPS on STOCK SPLITS--lot's of time to cover volatility. I also recommend Mr Cooks other books, in particular Stock Market Miracles which really goes heavy into options and I constantly refer to.
Rating: 
Summary: Cook Needs to Go Back Driving a CAB
Review: COOKie is a person tring to make a living by decieving people by saying he is a stock market guru. If cook believed in what he said why does he not give any interviews with the press. 60 minutes and Dateline want an interview with Cook but he declines..What does Cook have to hide from...Give the interview Cookie and tell the truth..
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Summary: OWN THIS BOOK ONLY IF YOU WANT TO BECOME WEALTHY!!!
Review: In 1983 I purchased a book that made a significant impact on both my and my families financial lives. The book was "THE REAL ESTATE MONEY MACHINE" by Wade Cook. At that time, buy and hold was in voque. After reading TREMM I went out and bought a residential property and did a lease option on it. Then I bought another, another and another. Today, thanks to Wade's strategies, my net worth is over $900,000 and my monthly income is more than $20,000. Of the people that I knew personally back in the 80's who went the conventonal way of buy and hold, only one is still holding any real estate properties and he said it was a tough road. The three T's; tenants, toilets and turnover in the traditional rental game almost buried him. In 1997, I was browsing through our local bookstore and came across THE WALL STREET MONEY MACHINE. Seeing who the author was, I immediately bought it. I started using only two strategies; covered calls (I saw the sim! iliarity of this to the stock market what lease options where in real estate) and options on stock splits (the leverage concept as in real estate) With the profits, I would buy more stocks or more shares of the same stocks, do more covered calls, buy more shares, do more covered calls etc., etc just like in real estate.Now I'm moving on to the more advanced strategies; selling puts, straddles, bull and bear spreads and so on but my main strategy is Covered Calls just like lease options where my principal strategy in real estate and I would buy some discounted mortgages, tax liens and eventually bought some land and commercial property. Everyone tells me that I should be a billionaire in 5 years or less. Thats like the old example of take a penny and double it every day and in a month you'll have millions! In reality some stocks will drop, some covered calls will be called out too soon, some lease options on real estate will go sour.... but overall, YOU'LL B! E MAKING MONEY AND A LOT MORE THAN WHAT THE TRADITIONAL &! quot;BUY & HOLD" CAN OFFER. I went against the trend in the 80's with Mr Cook's Real Estate Strategies and won and now I'm going against the trend again in the 90's with Mr Cook's wall street strategies and am making more money than ever in the stock market. It's okay to be a little skeptical, so was I, just don't be negative. In addition to Wall Street Money Machine, I highly recommend McMillians books and Wade Cooks other stock market books and of course "Real Estate Money Machine", that is the one that started it all for me.
Rating: 
Summary: Lacks depth and filled with sales pitches galore!
Review: I read WSMM after reading "Stock Market Miracles" which was equally, if not more, pathetic. His ideas are decent, but certainly not novel. He suggests covered calls, which are a decent source of income, but are not wonderful. He also discusses what we calls "rolling stock", in which he states that some stocks are pre-progammed to trade in certain ranges. If you can buy low and sell high, then you certainly can make money, according to Ol' Wade. He also believes highly in options and leverage, which are extremely risky for the novice. I do believe somewhat in his stock split strategies, and I usually engage in these myself; but I buy the stock itself in order to spare myself some of the nerve-wracking risk options entail. To finish, I actually attended a Wade Cook financial clinic (a clinic, not a course, so I didn't pay) and found it to be absurd. At least %50 is an advertisement for the courses. There was also a couple of shady sales ta! ctics visible. For one, there was a "singer", a person who supposedly was going to bring his friend but instead sung the praises entirely of Wade Cook. Second, you receive packets of testimonials. Third, the tapes and courses are somewhat forced, where the salesman (I'd hesitate to call him an instructor) says that for a once-in-a-lifetime deal you can go to the course for x thousands of dollars. As a son of a salesman, I caught all the techniques (for a good read about this, read Gialdini's INFLUENCE). I was not impressed, nor am I with the lack of content of Wade Cook's material. He DOES NOT make money in the market, he makes it selling books and tapes. Understand this and you will never buy into his shallow material again.
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Summary: If You Want To LOSE Money, Buy this Book
Review: This should not even be a book. There isn't enough content to fill the pages. In addition, it is kind of like an infomercial for Cook's other businesses. I believe that is in very bad taste. Second, his "strategies" are nothing new. Covered calls can be a good strategy under certain circumstances. However, he provides very little guidance. If you want to make money in rolling stock you better be the best market timer ever and do more research than look at a chart. Splits are only somewhat effective if you read other research. They really do not provide any more value to the shareholder. But sometimes the stocks go up. Dividend capturing, are you kidding me? Who is this guy? That leads me to my third point. If Wade Cook could do what he actually states he has been doing in his book, he would be worth at least $10 billion by now! My guess is that he is not. He is not a guru, he is a salesman. Thank God I did not buy the book but borrowed it in! stead. Read McMillan if you want to learn about options. Better yet, read Zweig, a guy who actually makes millions by being right. Don't waste you time or money with Cook's books. Take the money you would save by not buying this book and use it to make an intelligent investment elsewhere. This is a disgrace to all others who have written books on this subject matter.
Rating: 
Summary: Buy it, but beware, read other publications
Review: Reading all the reviews, there are lots of 5 stars out there and lots of one stars. It seems like you either love or hate this book. I'm somewhere neutral. I liked the way Wade Cook has a way to excite me to do more with options, especially the covered calls. I have been buying/selling options for a while, did not loose much money, but was never extremely lucky either. With the covered calls, I can at least break even or get ahead on some of my stocks. I still don't recommend this book for the investment beginner; you would indeed simply throw your money before the swines. As a beginner you need to read more (McMillan) and for all: papertrade at least six months or more, so you know that there is a flipside: Stocks do go DOWN. This fact is mostly ignored in this book. To call Cook a Crook is not fair, he too lost money in the game and admits this. However, I'd like to see how much he actually made! Read it, and study other books, happy investing.
Rating:
Summary: Not A Get Rich Quick Book---Just Get Richer, Quicker1
Review: The only down side to Wade Cook's book is that on the surface, it looks like a "Get Rich Quick" Book. I Look at it as a Get Rich For Sure Book. Mr Cook has put in some protective measures that will reduce risk. One caveat is that amateur investors may plunge right into options investing. CAUTION: Do your research first, talk to brokers, subscribe to a good, but inexpensive newsletter and find a experienced trader who may mentor you. All of the strategies are powerful when applied properly and with common sense. I have made 370% rates of return in 2-3 weeks or less. The strategies WORK!
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Summary: The IRS will love this book.
Review: I read 3/4 of this book last weekend. Not a single novel idea to be seen. Essentially no details, other than the incredibly repetitive ramblings about his life and the myriad of other products Cook would like to sell us. If you enjoy infomercials on TV, you'll love this book. No discussing of any downside risk (oh, well maybe two sentences worth, just to make the lawyers happy). Most amazingly, no discussion of the tax implications of trading using these techniques. If you've never heard of the IRS's "wash-sale rule" you are going to be in for a rude surprise come April 15th.
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Summary: This must be a bad joke!
Review: This book reminds me of the first time I saw the rock band the Clash perform. It was on Saturday Night Live, and they were so awful that I mistakenly thought it was just another skit. Actually, they always stunk (IMHO), just like all of Wade Cook's books. There are many good books on trading options out there (I'm about to buy "The Electronic Day Trader"). The only problem is you will need more than a 3ed-grade education to understand them. If you are in third grade, then maybe this book is for you. It's barely written in English, and the type is huge (probably to make it look long enough to be a real book). And most 3ed graders haven't saved enough allowance to open a brokerage account, so it'll be pretty harmless. At least until you grow up. 'Nuff said.
Rating:
Summary: Not all the Facts
Review: The book is very exciting to read and gives a good explaination of option strategies. What is not mentioned in the book is that the spread can kill you. I have tried his method and to date I have lost over 10,000. Some how I managed to do this while showing the IRS a 7,800 gain for tax year 97. To Make matters worse it appears that Margin interest is an itemized deduction. My total itemized deductions were just short of the standard deduction. It definitly looks like I will have to get a second job.
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