Why Stocks Go Up And Down, 4E Download Free (EPUB, PDF)
Why Stocks Go Up and Down is an in depth introduction to stocks and bonds. It explains the basics of of financial statement analysis, cash flow generation, stock price valuation, and more. Commonly misunderstood terms such as "capitalize", "equity," and "diluted earnings" are explained clearly. Stock valuation methods including price/earnings ratio, price/cash flow ratio, and Enterprise Value / EBITDA are covered. The book is about fundamentals; it is not an investment system or "how to make a million dollars in the market". The subtitle, "The Book You Need To Understand Other Investment Books" says it best. That subtitle is the result of comments received from readers over many years.
Paperback: 432 pages
Publisher: Bill Pike Books; 4 edition (September 11, 2013)
Language: English
ISBN-10: 0989298205
ISBN-13: 978-0989298209
Product Dimensions: 6.6 x 1 x 9.4 inches
Shipping Weight: 1.6 pounds (View shipping rates and policies)
Average Customer Review: 4.3 out of 5 stars See all reviews (13 customer reviews)
Best Sellers Rank: #285,885 in Books (See Top 100 in Books) #49 in Books > Business & Money > Investing > Bonds #378 in Books > Business & Money > Investing > Stocks
This is a good book to help the inexperienced learn about investing. It begins by teaching the rudiments of accounting through the adventures of a man and his company who have built a better mousetrap.He starts the business on his own, but needs more capital. In the process of growing, he taps bank loans, private investors, public investors, bonded debt, and preferred stock. All of this is done with simple explanations in a step-by-step manner.The book then explains bonds and preferred stocks. At first I was a little skeptical, because this is supposed to be a book about stocks, and the authors made a small initial error in that section. That was the last error they made. I became impressed with their ability to explain corporate bonds and preferred stocks, even some arcane structures like trust preferred securities, and other types of hybrid debt.Now, if I were trying to shorten the book, a lot of those sections would have been cut. For those that do want to learn about bonds in the midst of a stock book, you get a free bonus. If you don't want to spend the time on bonds, you can skip those sections with little effect on your ability to understand the rest of the book.Then the book turns to trickier aspects of accounting, explaining cash flow from operations, and free cash flow. It's all good stuff, but here is my first problem with the book: what is the most common way of giving a distorted picture of earnings? Revenue recognition policies. The book does not talk about revenue recognition, and the most basic idea of Generally Accepted Accounting Principles [GAAP], which is revenue gets taken into earnings proportionate to the delivery of goods and services.
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