Edward Gofsky Consulting Home Services Biography Recommended Books Recommended Links

I highly recommend the books below as they are the cornerstone and foundation to
my approach to the financial markets.



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BULL! A History of the Boom 1982-1999
by Maggie Mahar

MY COMENTS:
I really liked this book. If you are interested in stock market history then this is the book for you. I could not put this book down once I started reading it. This book takes you through all the bull and bear markets from the 1970's to the 2000's.



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The Coming Generational Storm
by Laurence J. Kotlikoff & Scott Burns

MY COMENTS:
If you want to know what is going to happen to the American Economy over the next 25 years you need to read this book. Written by the master of generational accounting Laurence Kotlikoff the author explains Americas Fiscal gap ($45 trillion) and why the united states is basically bankrupt. This book is required reading by every investor going forward.



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The Dollar Crisis: Causes, Consequences, Cures
by Richard Duncan

MY COMENTS:
I think this is the best book ever written to describe the coming crisis in the U.S. dollar. This book is a must read for everyone involved in the financial markets.



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Encyclopedia of Chart Patterns
by Thomas N. Bulkowski

MY COMENTS:
Not since Edwards and Magee has someone put together so comprehensive an assemblage of market behavior expressed graphically. That you also get a solid statistical assessment of the results of these chart formations is an unexpected and invaluable bonus. No chartist should be without this book.



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Elliott Wave Principal
"Key to Market Behaviour"

by Frost & Prechter

MY COMENTS:
If you want to learn about the value of using Elliott Wave Theory then this is the best book to have. Written in 1978 this book using Elliott Wave theory predicted the biggest bull market of all time 4 years before it started in 1982. The book written by Elliott Wave Master Robert Prechter also predicted how the bull market would end and what the psychology would be at the peak of the bull market, he was dead on perfect. This is my favorite book on Elliott Wave Theory.



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The Encyclopedia of Technical Market Indicators
by Robert W. Colby CMT

MY COMENTS:
This book provides an alphabetical and up-to-date listing of hundreds of today's most important indicators. It defines what each indicator is, explains the philosophy behind the indicator, and - of the greatest importance­ provides easy-to-understand guidelines for using it in day-to-day trading or investing.



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Fooled by Randomness:
The Hidden Role of Chance in Life and in the Markets

by Nassim Nicholas Taleb

MY COMENTS:
This is a fascinating book. This book discusses risks and randomness in the financial markets and how investors get fooled by both. A lot of successful investors have been shocked after reading this book realizing that it was not really their skill that made them money but the randomness of the financial markets. As one of my favorite authors once said, this book rolled down Wall Street like a hand grenade.



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It's When You Sell That Counts
by Donald Cassidy

MY COMENTS:
If you are one of millions of investors who lost a significant amount of wealth since 2000, you should read this book so it doesn't happen again. Buying a stock or fund is relatively easy. There are legions of "experts" who will tell you what to buy. But buying is only half of the story. Selling, most experienced traders would argue, is more important. Selling preserves capital, reduces risks, and retains profits. Yet, it is very rare to find someone who will recommend when to sell an investment. The fact that Donald Cassidy's book is one of the very few that addresses selling a stock makes it unique.



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Technical Analysis of Stock Trends
by Robert D. Edwards & John Magee

MY COMENTS:
This book is a must for all serious students of technical analysis. The book was written by Robert Edwards and John Magee and is considered the bible of technical analysis. The book covers all the important aspects of technical analysis from DOW THEORY to important reversal patterns, consolidation formations, trend lines and channels and is packed with dozens of charts showing you how the patterns developed in the stocks. From head and shoulder patterns to double tops and bottoms all the patterns are in this book. This is my favorite book on classical technical analysis.



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The End of Oil:
On the Edge of a Perilous New World

by Paul Roberts

MY COMENTS:
All economic activity is rooted in the energy economy, which means a substantial portion of the current world economy is linked to the production and distribution of oil. But what will happen, Paul Roberts asks, when the well starts to run dry? Walking readers through the modern energy economy, he suggests that grim prospect may not be as far off as we'd like to think and points out how political unrest could disrupt the world's oil supply with disastrous results.



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The Triumph of Contrarian Investing: Crowds, Manias, and Beating the Market by Going Against the Grain
by Ned Davis

MY COMENTS:
This book is packed with a lot of great information on the history of the markets and past and present manias. This book is a must read for all contrarian investors.



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Gold Wars
by Ferdinand Lips

MY COMENTS:
This book is a must read for all investors in gold. The book offers a great history of gold and why it is so important for all investors to always have some gold in their portfolio.



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Forecasting Financial Markets
The Psychology of Successful Investing
by Tony Plummer

MY COMENTS:
Many technical analysts like to forget that they live in the real world. Technical analysis is based on the idea that the patterns drawn by stock prices can be used to forecast the financial markets. The field of behavioral finance essentially looks at this psychological give and take from an academic perspective, while technical analysis is largely a real life application. Tony Plummer brilliantly bridges this gap by showing how and why these patterns develop. He also discusses his own take on Elliott Wave Theory in a cogent and interesting manner.



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Out Of Gas:
The End Of The Age Of Oils

by David Goodstein

MY COMENTS:
David Goodstein
does a good job of treating a flammable subject with the balance and seriousness it deserves. His conclusion is that there is no doubt that fossil fuels (oil, natural gas and coal) will run out by the end of the century, but that we will be forced to begin dealing with the ramifications of falling supply long before that. Most estimates assume that the coming lack of oil will become a problem only when the wells have all dried up. Goodstein argues that the problems will occur much earlier - when production peaks at the half-way point of the planet's oil reserves. A point that is either here or will soon arrive.



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The Party's Over:
Oil, War, and the Fate of Industrial Societies

by Richard Heinberg

MY COMENTS:
The end of the entire age of oil as a primary fuel for human industry is within sight. This fact has enormous (world altering) ramifications, as Richard Heinberg demonstrates in his well-researched book. Foreign policy, domestic policy, ecology, wildlife conservation, and the entire American "way of life" are at issue. The information offered in this book is certainly known by government officials and undoubtedly has a direct influence, a primary influence, on the War on Terrorism, the War on Iraq, the U.S. Stock Market, and, increasingly on public debate in the U.S and the whole world.



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Think & Grow Rich
by Napoleon Hill

MY COMENTS:
This is the book that started it all for me! If you want to know the strategies for becoming wealthy and wise then this is the book for you. I read this book when it was given to me at 17 and it was the book that changed my life. If you read this book and apply the theory's inside you will be on the road to a more prosperous future.



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When to Sell for the '90s:
Inside Strategies for Stock-Market Profits

by Justin Mamis

MY COMENTS:
I always tell people that buying stocks is the easy part. It's when you sell that counts! As many people learned the hard way in the tech bubble of the late 90's it was selling that made you all the money not the initial buying. This book along with Donald Cassidy's book "It's when you sell that counts" are the two best books on selling stocks ever written. Since the original publication of When to Sell in 1977, which was cited by the New York Times as one of the two or three best books ever written on the stock market, Justin Mamis gets the phone calls asking "how do we know when to sell?" Of course these phone calls come after the market has gone down. When prices are up, investors should be looking for "when to sell". Identifying tops -- the emotions that accompany tops, the indicators that say it is a top, and the stock actions that warn that it is time to sell.

© Copyright 2011 Edward Gofsky Consulting   |   Elliott Wave Theory, Classical Technical Analysis and Financial Planning