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S**S
Incorporating Option Trading Into the "Rich Dad" Philosophy
Being a big fan of the 'Rich Dad' series of books and an avid trader of stocks and options I did not know what to expect from this book trying to tie it all together. I was pleasantly surprised by this books ability to explain the basic concepts of trading stocks and options using fundamental analysis and technical analysis to create cash flow by using paper asserts. I believe this is a much simpler and easier process for building net worth and cash flow than dealing with rental properties and real estate. I really like how Andy Tanner suggested 1% risk of capital per trade as a basic example of proper risk management which I agree with and also his explanation of how traders can operate like casinos not gamblers with the use of an edge. His biggest points were how to use stock option contracts for leverage in your trading versus the need to own stocks and also how to sell option contracts for cash flow consistently. I really loved his stories of how Warren Buffett sold naked puts on value stocks at levels he wanted to own them at and how Mark Cuban was paid in Yahoo Inc. stock for the business they bought from him and he was able to hedge the Yahoo stock with puts to ensure he would remain a billionaire even if Yahoo collapsed, which it did from over $100 to $4 a share with the dot com bubble burst in the year 2000. This is an excellent beginners book for would be traders of options, the scope of this book is just an introduction the principles and concepts of trading options profitably which will be a big eye opener to many new traders. If you are interested in the concepts of the 'Rich Dad' series of books or how to trade this is a great place to start.
C**S
Need a place to start? Start here, with this book.
Excellent for the beginner. I would start here. This book doesn't throw a lot of terms at you to help you figure out what they're saying on CNBC. Rather, Tanner explains what is going on with the market so you can make a better investment decision. The book has many useful concepts. It talks about the three types of cashflow income. It explains what is really an asset and how even debt can be leveraged the right way so that it can become an asset. The heart of the books talks about the four pillars to investing: fundamental analysis, technical analysis, cash flow, and risk management.This is really an introduction to the stock market and any kind of cash flow investing. It will make the concepts clear. You will understand financial statements and charts, but you will need other books on the market and a way to practice a lot of these concepts. I use a stock market game to practice concepts (google some for the best choice) and I read How to Make Money in Stocks both the original book and the Getting Started Book.There are negatives to the book. Tanner did ramble in some spots. I skipped those areas. Because it's a Rich Dad book you will have to suffer through the rich dad poor dad story here and there. Not too much though. I was surprised. Other books in the collection lay on the story kind of thick. Those were the only things. Not deal breakers. I've read a lot of the negative reviews and I don't understand what the problem was. It's a good book. Cheap, to the point, and extremely helpful.
D**Y
Great first book before actually buying a technique book.
There are some absolutely great beginner information in this book. This is the book you read before your next book or training that teaches techniques. Its designed to help you understand the market and what it is you really want to accomplish in the market. Many people enter the stock market as a means to make a big sum of money in a short period of time, a.k.a. get rich quick, and that mindset almost guarantees you will fail.This book lays the ground work for people to understand the market's true intent for the individual investor.Easy to understand with simple illustrations. There are some additional supplementary material that is a must. There are 3 videos on the website of the author that everyone needs to watch after reading the book.
J**G
Best book on stocks I have read
This books expands your context so fast that you can't put it out down. As you read a light bulb goes off to the opportunity that there is to take control of your own paper investments. Andy takes even the most complex terms and concepts and breaks them down so that even a child can understand. This book will teach you to evaluate the strengths of any entity whether it be a government, a company, or even your own personal finances. You will be able to look at a stock chart and have a clear idea of what investors see. After that he shows you how you can put yourself in position to make money in the stock market without handing your money over to someone else and "praying" it goes up. Lastly, he explains how to protect and insure yourself when doing so. I finished the book in a couple of days and am now re-reading it with my 9 year old daughter because Andy makes it so simple that even she gets it! A must read for anyone who wants to take control of their own investing and/or retirement.
P**E
Best investment book EVER!
This probably one of the best books on investment that I’ve read. What I love most about the author is he shared the basic fundamentals and principles on investing. Since each person will have different financial goals inLife , he doesn’t tell you what stocks or investments to go into but rather he gives us the tools and education needed in deciding whats best for our own individual needs.
A**R
Great for anyone who wants to get out of the rat race!
While I already understood how to invest, Andy’s approach is simple enough for anyone to learn how to win in the market and get out of the rat race.
B**R
Financial Freedom!
I had waited almost 9 months to get this in the mail and it was worth it. If you want to gain a simple strategy plan on how to trade stocks using option trading plan, this is your book. For the first time in my life I can lay-off people who have interest in my money but do not care about my net worth, that responsibility falls upon myself alone. If you want to take charge of your investment for a secured tomorrow than order this book and fire your financial planner who probably is just a salesman for his list of brokers who want to sell you stuff and not raise your net worth.
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