Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : IFMX - Investment Discussion -- Ignore unavailable to you. Want to Upgrade?

To: Dave Yenne who wrote (9633)	2/20/1998 7:35:00 PM
From: surfinSteve	Respond to of 14631

Book about options: "Options as a Strategic Investment", by Lawrence G. McMillan, published by NYIF in 1993. Anyone agree or have other books they like?

To: Dave Yenne who wrote (9633)	2/20/1998 7:50:00 PM
From: Robert Graham	Read Replies (1) \| Respond to of 14631

I recommend three books on options: 1."Sure Thing Options Trading" by Goerge Angell 2. "Options as a Strategic Investment" by Lawrence McMillan 3. "The Option Advisor" by Bernie Schaeffer The first book by Angell has an outrageous title that I think his publisher talked him into. I have read other books by him and he is a practical, down-to-earth, very expreienced and successful trader. He is one of the few that is both a very good trader and also is a good writer that writes very well from the trader's perspective about the topics he covers in his books. The second book by McMillan is a more difficult reading, but is considered by many as the "bible" of options. This would be a good comprehensive textbook on options. The third book by Bernie is a nice intermediate book that focuses on how options can actually behave in the market where there is trader sentiment and expectations involved. He assumes the reader is familliar with the very basics of options and technical analysis. This book have provided me with some very worthwhile insights into options that I have not found in other books on the subject. If you want an easy and entertaining read that has the reality of options distorted to give the message to the reader of "easy money", read any book by Wade Cook. His books do not cover the downside of options and ignore any repair strategies. Some of his creative strategies that he proposes are in my opinion questionable and risky plays. Also be prepared for the sales pitch of his seminars that you will encounter through his books. But it is an entertaining read. ;) Wade Cook provdes an excellent example of a person pursued and successfully fined by the SEC. A person who attracts people to risk option plays without telling them of the pitfalls, which many have followed to "successfully" lose allot of money. A person who engneered a stock split of his own stock and made a substantial play on it, breaking his own rules that he has stated in his books on options plays to capitalize on this self-made opportunity. A person who has been able to have people pay for an advertisement in book form to his expensive seminars which are there just to sell more of his expensive study material and tapes. A financially successful person, where his financial success evidently did not come from the option plays he has written about. A churchgoer who uses his known religous orientation to generate profits through one of his later book efforts. Some peoples hero. Do you think I like this guy and what he represents? Bob Graham