The Craft of Investing
As Train says, bad books on investing make it sound easy. This is not a bad book. Train (The New Money Masters, HarperCollins, 1990) explains that stock investing requires being thorough, tough-minded, and flexible. He covers different investment styles, market cycles, when to buy and sell, managing a portfolio, and even handling estate matters, all from his own unique experiences as investor and investment consultant. Some of the recommendations may be beyond the average investor (such as having one reliable local source of information in a foreign country), as may some of the analysis-e.g., "doing a spreadsheet for each company you own." But in general the work is accessible, realistic, and filled with amusing snippets. You can make something of yourself, argues Train, "if you are always honest, energetic, and careful." May it be so. Recommended.Alex Wenner, Indiana Univ. Libs., BloomingtonCopyright 1994 Reed Business Information, Inc.