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Readers reviews of The Stock Traders Almanac 2004

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This is simply a must-have book for any serious trader. The market is full of coincidental and correlated relationships. Understanding the difference provides an important trading edge. Hirsch brings together a thorough statistical analysis of these correlated relationships. The authors do this in an interesting and entertaining fashion that does not detract from the utility of the book.


These repeated statistical relationships are well known enough to have crept into the popular press. The January effect where the market rises is now a market clich? Unfortunately, closer analysis of this impact reveals some significant variations to the commonly accepted myth. These differences include the starting time of this January effect, and the way this effect ends, sometimes quite dramatically. Hirsch gives you the exact dates and the odds.


January has a much more significant impact than that covered in the popular press. Traders who are aware of this use the extra knowledge to their advantage in planning long term trading and investment strategies. The book offers no solutions, but by capturing the key relationships, the enduring correlations, and interesting repeated behaviour, the book provides a deep and rich resource of usable market information.


The book deals only with the US markets, but this does not make it irrelevant to other markets. Increasing global interdependence means that what happens in New York is mirrored in Australia, Hong Kong and London. Hirsch does not explore these relationships, but astute trades use this information. This book should sit beside every traders, and investors, trading screen.

 

 

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