Smarter than the Street : how to invest and make money in any market

CNBC Money Expert Gary Kaminsky Reveals the Wealth-Building Secrets of Wall Street Insiders “Gary Kaminsky is one of the top money managers of the last two decades. His book is a must-read for anyone trying to make real money in the stock market!” Nils Brous, Founding Principal, Samson Capital Advisors, LLC; Chairman, Arcoda Capital Management LP; former executive, Kohlberg, Kravis, Roberts and Company (KKR) “Want to know how the best managers and traders on Wall Street make money? Read Gary Kaminsky’s down-to-earth, money-making guide and learn the secrets of profiting in any market.” Melissa Lee, Host, CNBC’s "Fast Money" “A must-read! Gary Kaminsky takes the mystery out of the market with his no-nonsense, take-no-prisoners approach.” Jeffrey Moslow, Managing Director, Investment Banking, Goldman Sachs The Book Wall Street Doesn't Want You to Read How do savvy Wall Street investors achieve high returns even in the worst financial times? It’s one of the industry’s best-kept secrets—and now it’s yours for the taking. Gary Kaminsky, cohost of CNBC’s "The Strategy Session"—and one of the best money managers in Wall Street’s recent history—is ready to share the secrets that have made his colleagues millions, even billions, of dollars. These simple but powerful techniques are not exclusive to Wall Street’s high rollers. With Kaminsky’s system, you will make money even in zero-growth markets. His proven formula shows you how to: Develop the same habits, reflexes, and practices of top market performers Create a proactive buy-and-sell strategy Beat the roller-coaster market trends—and focus on long-term returns Make smarter, more informed decisions—and more money! Kaminsky brings more than two decades of experience to his low-risk, high-return system, demystifying Wall Street for novice and seasoned investors alike. Between 1999 and 2008, Kaminsky’s team at Neuberger Berman grew record-breaking returns far above the S&P benchmark. And they didn’t do it by magic. They did it by constructing a specificstrategy and sticking to it, regardless of the investing climate. It is a strategy that anyone can learn and apply, step-by-step, in any market. With Kaminsky’s expert guidance, you’ll learn how to be more disciplined and vigilant with your investments, maximizing your returns in a minimum amount of time. You’ll not only make money in most markets, but you’ll lose much less money when those around you are losing their shirts. And you’ll be able to strengthen and protect your assets—particularly in the slow-growth decade ahead—with the confidence and know-how that drives Wall Street’s smartest investors to the top of their game. Yes, you can beat the market—when you’re Smarter Than the Street. Contents......Page 6 Foreword......Page 8 Introduction......Page 10 Part One: Wall Street Exposed......Page 22 1 The Lost Generation of Investors......Page 24 2 The Zero-Growth Decade Ahead......Page 42 3 Wall Street’s Greatest Myths Revealed......Page 58 Part Two: Strategies and Disciplines for Outperformance......Page 82 4 Take the Other Side of the Trade......Page 84 5 Let Change Be Your Compass, Part 1: GE......Page 100 6 Let Change Be Your Compass, Part 2: Disney......Page 112 7 What Has the Company Done for Me Lately?......Page 138 8 Picking Stocks for All Markets......Page 162 9 Do Your Own Due Diligence......Page 180 10 How Many Stocks Should I Own?......Page 196 11 Develop a Strong Sell Discipline and Manage the Downside......Page 212 Source Notes......Page 238 Acknowledgments......Page 242 B......Page 246 C......Page 247 E......Page 248 H......Page 249 L......Page 250 N......Page 251 P......Page 252 S......Page 253 T......Page 254 Z......Page 255 CNBC's “Strategy Session” co-host reveals his proven plan for generating superb returns in any investing climate—particularly the no-growth decade ahead