The Battle for Investment Survival is a tribute to the long-term and incredible opportunities of the market as much as it is a guide to protect investors from common mistakes and pitfalls. Gerald Loeb's timeless and profound insights are sprinkled with humorous allusions and good-natured bluntness. Recommended for investors by investors, this is a book that every reader can learn from.
Back Cover Copy
"Most of today's advisors are telling us to diversify into stocks, bonds, foreign stocks, and perhaps gold, to spread the risk; Loeb tells us to put all our eggs in one basket, and watch the basket." —from the Foreword by John Rothchild Financial columnist, Time magazine
In The Battle for Investment Survival, the turf is Wall Street, the goal is to preserve your capital at all costs, and to win is to "make a killing without being killed." This memorable classic, originally written in 1935, offers a fresh perspective on investing from times past. The Battle for Investment Survival treats investors to a straightforward account of how to profit—and how to avoid profit loss—in what Loeb would describe as the constant tug-of-war between rising and falling markets.
Acclaim for The Battle for Investment Survival
"About twenty years ago, I read Gerald Loeb's classic The Battle for Investment Survival along with Graham and Dodd's landmark work on security analysis. Ever since then, it has seemed to me, the investment books that have come across my desk have been a dreary collection of how-to-get-rich works that carry the same advice I had read in other books, or were simply filled up with meaningless information." —Ray Brady The Nation's Business
"This book is very special in my life. It is the very first Wall Street book I ever read. After reading 1,200 additional finance books, The Battle for Investment Survival's principles and concepts are still valid to consistent success." —Victor Sperandeo author of Trader Vic: Methods of a Wall Street Master
"What success investors eventually have is governed by their abilities, the stakes they possess, the time they give to it, the risks they are willing to take, and the market climate in which they operate.
I am certain that, depending upon the degree of proficiency with which they are applied, the experiences, ideas, guides, formulas, and principles outlined here can do no less than improve the readers' investment results regardless of what they might do." —from The Battle for Investment Survival
From the moment it first appeared in 1935, The Battle for Investment Survival altered the perceptions, attitudes, and strategies of investors all over the world. Sixty years and hundreds of thousands of copies later, it remains one of the most influential books on investing. Now, a new, updated edition of this all-time classic, including a foreword by John Rothchild, celebrates the extraordinary insights and timeless vision of Gerald M. Loeb.
While much has changed on Wall Street since 1935, the fundamental skills and knowledge needed to consistently make a profit remain as unchanged as the firmly anchored realities of capitalism's driving market forces. Organized in concise, easy-to-read chapters, the author offers everything an investor needs to know about sound investment principles. In The Battle for Investment Survival, the victor is the one who wields knowledge as a weapon. Distilled from over forty years of Wall Street experience as a stockbroker, Gerald M. Loeb's realistic approach offers readers neither short-cuts nor get-rich-quick formulas. Instead, it gives investors—whether novice or expert, individual or institutional—a sensible, uncompromising and deftly written firsthand account of how to realize significant financial returns in today's market.
The Battle for Investment Survival is a tribute to the long-term and incredible opportunities of the market as much as it is a guide to protect investors from common mistakes and pitfalls. Gerald Loeb's timeless and profound insights are sprinkled with humorous allusions and good-natured bluntness. Recommended for investors by investors, this is a book that every reader can learn from. --This text refers to an out of print or unavailable edition of this title.
Gerald M. Loeb worked on Wall Street as a stockbroker for forty years beginning in the late 1920s. He was also a financial writer whose articles were published in Barron's, Wall Street Today, and Investor Magazine. A prolific writer throughout his career, Gerald Loeb also authored Gerald Loeb's Checklist for Buying Stocks and Battle for Stock Market Profits. --This text refers to an out of print or unavailable edition of this title.
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**第二段评价:** 如果你期待这是一本教你如何快速致富的“秘籍”,那恐怕要大失所望了。这本书的价值恰恰在于它的“慢”和“反直觉”。它更像是一本关于**投资哲学的散文集**,但每一个论点都建立在多年的市场沉淀之上。我特别欣赏作者对“风险”的定义。在很多主流读物中,风险被量化为波动性,是可以通过数学公式计算和对冲的。然而,这本书强调的风险,更多是**本金的永久性损失**,以及由于认知偏差带来的结构性错误。书中有一段论述让我印象深刻:真正的危险不是市场下跌20%,而是你因为恐惧在低点割肉,从而将暂时的账面损失变成了不可挽回的现实损失。作者的叙事风格非常沉稳,没有使用任何夸张的语气或断言,一切都娓娓道来,像是在一个安静的书房里与一位长者对话。这种克制感,恰恰增强了文字的力量。它强迫读者停下来,重新审视自己对“成功投资”的定义。对于那些急于求成的新手来说,这本书或许显得枯燥,但对于寻求长期安宁的成熟投资者而言,它无疑是一剂定心丸,让人明白,慢下来、看清楚,比跑得快重要得多。
评分**第一段评价:** 这本书简直是为那些在金融市场摸爬滚打多年,却始终感觉隔着一层迷雾的投资者准备的“清醒剂”。我之前读过太多关于技术分析和宏观经济的厚重著作,读完后依然觉得实战中充满了不确定性,仿佛永远在追逐别人的步伐。而这本书,它没有给我那些令人眼花缭乱的图表,也没有用晦涩的术语来炫耀作者的学识,它真正触及的是投资的**心理本质**。作者仿佛一位经验老到的心理咨询师,他没有直接告诉我“应该买什么”,而是深入剖析了促使我们做出错误决定的那些深层恐惧和贪婪。比如,书中对“羊群效应”的描述极其精准,它让我回想起好几次我明明知道某个股票被过度炒作了,但看到所有人都冲进去时,内心深处的焦虑感是如何驱使我违背自己判断的。这种对投资者自身行为模式的深刻洞察,比任何复杂的估值模型都更具实操价值。它教会我的第一课,不是如何选股,而是如何**管理自我**。读完后,我感觉自己像是卸下了好几副沉重的思想枷锁,看待市场的视角变得更为冷静和独立。它让我意识到,投资的战场,首先是内心的战场。
评分**第四段评价:** 如果要用一个词来形容这本书给我的感受,那就是“祛魅”。它彻底剥离了华尔街营销话术中那些光鲜亮丽的外衣,直指金融运作的底层逻辑。这本书的作者似乎对那些试图用复杂金融工具来解决简单问题的做法持有一种温和的批判态度。他反复强调,**最有效的投资策略往往是最朴素的**,但执行它们却需要极大的勇气和纪律。我发现,作者在讨论宏观经济时,总是将视角拉回到个体投资者的决策层面,这使得宏大的理论不再悬浮,而是真正与我的投资组合建立了联系。例如,书中对通货膨胀的解读,并没有过多纠缠于央行的政策细节,而是聚焦于它如何悄无声息地侵蚀普通人的储蓄购买力,从而引导读者思考资产配置的根本目标——保值增值。这种由宏观到微观的视角转换,非常具有启发性,让人在阅读时不断地进行自我对话和反思。它不是一本让你感到兴奋的书,但它绝对是一本让你感到**扎实和可靠**的书。
评分**第三段评价:** 这本书的结构设计颇具匠心,它不是一个线性的教程,而更像是一系列精心挑选的“案例反思”。每一章节都围绕着一个特定的投资误区展开,但它极少直接给出结论性的买卖建议。相反,作者擅长通过描述市场历史上那些著名的泡沫和崩溃,将抽象的理论具象化。我尤其喜欢它对**价值的探讨**。在充斥着“故事性股票”和“叙事驱动”的市场环境中,这本书提供了一个坚实的锚点,提醒我们资产的真正价值源于其未来现金流的折现,而非当下市场的情绪高涨。作者对长期主义的推崇是毋庸置疑的,但他的论证过程却非常务实,他并未鼓吹盲目持有,而是强调只有当你真正理解并相信你所持有的资产时,才能在市场恐慌时保持定力。这种深入骨髓的“理解”胜过一切技术指标。书中的用词典雅而精确,读起来像是在欣赏一幅细节丰富的油画,需要你细细品味那些被忽略的笔触和光影变化,每一次重读都会有新的体会。
评分**第五段评价:** 这本书的语言风格有一种独特的古典魅力,它摒弃了现代金融书籍中常见的急躁和煽动性,取而代之的是一种近乎学者的冷静和审慎。阅读过程中,我感觉自己仿佛在跟随一位老派的、深受本杰明·格雷厄姆影响的导师进行私塾教育。它没有提供任何“快速致富公式”,相反,它深入探讨了**投资中的概率思维和运气成分**。作者坦诚地承认,即使是最精明的投资者,也无法完全排除运气的干扰,但高明的投资者会通过提高决策的质量来最大化长期成功的概率。这种对不确定性的坦然接受,极大地缓解了我对市场短期波动的焦虑。书中关于“安全边际”的阐述尤为精辟,它不仅仅是一个估值概念,更是一种生活态度——永远为最坏的情况留出缓冲地带。这本书的排版和用词都很考究,读起来有一种沉甸甸的质感,让你愿意放慢速度,甚至在重要段落做标记。它教会我,投资的终极目标不是打败市场,而是**确保自己能一直留在牌桌上**,直到市场最终奖赏那些有耐心和纪律的人。
评分可以读N遍以上的书 想炒股 这一本就够了
评分有些章节很精彩
评分可以读N遍以上的书 想炒股 这一本就够了
评分like jesse
评分有些章节很精彩
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