Bear Market Baloney

Rating:
Summary: I wish I had this book 4 years ago!
Review: Bear Market Baloney (now Wall Street Money Machine VOL III) was so successful that it was extrapulated into a seminar called Bulls & Bears. Basically, Wade shows ways to make money in any market; bull markets or bear markets. To wit I made money while Greenspan was yelling "Irrational Exuberance" and I made money while the markets soared to new highs in 2000 and I made money when the markets tanked (Thank you Bill Clinton!) from 2000 to October 2002. And I made money after 9/11 and after October 2002 to the present.

Great book. I also recommend Wall Street Money Machine VOL I & II, Red Light Green Light all by WADE and The Successful Investor by William J. O'Niel.

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Summary: Brokers should require all investors to read this one
Review: I bought this book about thee years ago, read it and tossed it aside because we where in the midst of a raving BULL MARKET.Then last spring with the NASDAQ at historic highs, Feds raising rates (one of the factors that could trigger a Bear Market acoording to Wade in this book) and a lot of "bubble going to burst" talk, I dusted off this little book and decided to apply some of Wades techniques.On page 90, Wade says that in a Bear Market do the reverse of what you normally would do in a Bull Market. If you normally buy calls, now buy puts. I bought puts on the NASDAQ 100 Tracking stock-QQQ and rode the Nasdaq down. I also sold some of my growth mutual funds and moved into a Value Fund and the Pro Funds Ultra Short Fund.I reduced my positions of the high tech flyers like Yahoo, Dell, Msft and Cmgi and started writing out of the money covered calls on the positions that I held on to. Some of these stocks I have held through multiple splits and had in different accounts. My one regret is that I didn't dump all of my shares of CMGI. Oh well, nobody is perfect. I did buy puts on CMGI which more or less made up for the loss.I think every broker should give a copy of this book to everyone who buys stocks. The problem with negativity is that it breeds upon itself. Almost everytime I mention to someone that I'm in the stock market, the response I always get is "How much did you lose?" When I tell them that I turned a lemon into lemonaide they want to know how and I refer them to this book.I also suggest "Beating the Street" by the great Peter Lynch.When you are armed with the right knowledge, you can make money in any market.Buy this book and earn.

Rating:
Summary: I wish I had this book 4 years ago!
Review: In Bear Market Baloney, Wade discusses the strategies to use int he event of a bear market. Wade also correctly predicts that despite Greenspans cries of "Irrational Exuberance" and the mild "selloffs" that some people were calling a "bear market" back in 1998, that the market is healthy and should continue to move up to higher peaks before a bear market would occur.

Good book and good advice by Wade Cook.

Rating:
Summary: True then, true now!
Review: This book was recommended to me by a friend who used these techniques back during the first Clinton bear market in July 1998 and then again during the second Clinton bear market and longest bear market in history (thanks Bill) in March of 2000. The advice in Bear Market Baloney saved my friends a ton of money.

I picked this book up about a month ago and started applying the advice during the summer months, especially August and it worked. If John Kerry wins the election (God Forbid), this book will be my Bible for what is probably going to be another Clintonesque Bear market.

Wade explains strategies to be used while the market is going down or choppy as it is right now and without shorting the market which is typically the only known strategy for a Bear Market. You won't find wimpy strategies like moving into cash and out of equities either. That may be safe, but a ship at harbor is safe and like cash is going nowhere.

I highly recommend Bear Market Baloney which is in book stores right now. Just disregard the toll free number in the back of the book, this no longer get's you connected to Wade or his people. Instead, go to www.wade.cook.org.



Rating:
Summary: Great advice--saved me a bundle during that last bear market
Review: Wade Cook wrote this book right before the worst bear market in history - not too soon for me. As far as I am concerned, this is Wade's best book to date. You get powerful returns even during a market downturn and as the title indicates, the strategies are bear market in design.

I was able to get this book on a special sale but it is easily worth thousands of dollars to me.

Great book and still applicable.

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Summary: More powerful techniques from Wade
Review: Wade wrote this book back in 1997 and I quickly read the small volume to prepare myself for the "irrational exuberance" that Mr. Greenspan was alludig to and also to learn how to play the market on dips.This book returned tens of thousands of dollars to me in money saved by settingmy exit strategies during the "Bull Market" from '97 to March 2000. But it saved me substantially more during that last bear market which was the worst bear market in over 60 years.Using Wade's advice, I even made money on stock splits like Christopher & Banks, Loews and ADSK during a bear market!Switching to low beta stocks as Wade advises in this book also saved me tens of thousands.PRIOR TO WADE I used to follow advice from my broker and that advice was making me broker. Mr. Cook teaches you how to select a broker that will work for you (many won't and prefer to sell the stock of the day rather than what is best for you) and I suspect that allof the negative reviews are from stock brokers who don't want you to you what their game really is.I highly recommend BEAR MARKET BALONEY currently known as Wall Street Money Machine #3. Even during the current bull market, there will be dips (as we saw last week) and Bear Market Baloney can help you make money during those dips.

Rating:
Summary: Great advice--saved me a bundle during that last bear market
Review: Yeah I know tht title of this book says "BEAR MARKET BALONEY" but for those of us who actually bought and read the book, we know that Wade did warn that there could be a bear market and offered strategies to offset that.

For me, I followed Wade's advice. He said that when interest rates start rising that is a negative for the market. He warned about high p/e ratios even with solid earnings. He warned about market bubbles and he cited historic evidence to back up his statements.

While others were staying in stocks or buying on dips (long and strong on stocks) I sold off the high p/e stocks especially high p/e stocks like YHOO, AMZN, CMGI, DELL, CPQ, CSCO and so on. I followed Wade's advice on buying low beta stocks stocks like NBTY. WEN and RI and even sold my aggressive mutual funds and replaced them with value funds. I also bought some gold stocks ala Wade's advice and some zero coupon bond funds.

The result? While others lost money or fled to money market funds, I doubled my money on solid investments. I still use the advice in bear market baloney when the market sells off like it started to last MAY.

Wade's advice is right on. All real investors know this. Good book. Highly recommended.