[DbPhoenix]

"Buried treasure. Or buried truth. That is what Magee’s book is. The first edition in 1958 fell on deaf ears (or deaf and dumb ears), so in the day to day practice of his business, Magee did what comes naturally: ran a very successful investment advisory firm and sold hundreds of thousands of copies of his more famous book, Technical Analysis of Stock Trends. The potential original audience probably looked at the title General Semantics of Wall Street and passed on by as quickly as possible. After all, if you can’t define it, why read about it?

"Now, having reread it, I am consumed with regret that I didn’t read it for breakfast every morning during my 40 years of investing, speculating, gambling, and managing money in the markets. Coming to it now, like an old raccoon with many scars, it is like finding buried wisdom, the codification of all the non-technical things Magee knew about the market, and one of the books which every investor should read, preferably at the beginning of his career.

"This book can prepare an investor for the mental game of Wall Street, that is, the inner game the investor’s mind plays with itself as he watches Wall Street whir around. It would be unwise to underestimate the importance of mental attitude and preparation to successful investing and trading. Be assured, the winning tennis player who has great conditioning, wonderful technique, great mechanical skills also possesses something the average tennis player does not have: a diferent mind and attitude. The same thing is true of effective traders. Through the careful study of and application of this book, in conjuntion with The Technical Analysis of Stock Trends, the average investor can become an effective trader."

W.H.C. Bassetti

[firewalker]

It's a pity Bassetti doesn't offer more free letters on his website, and the mentioning of 'the holy grail' does give it that typical commercial flavour...

Have you, by any chance, read Magee's third book (which seems pretty hard to lay a hand on these days)...?

[DbPhoenix]

Originally Posted by firewalker »

Have you, by any chance, read Magee's third book (which seems pretty hard to lay a hand on these days)...?

Which one is that?..

[Soultrader]

Thanks for the review. I just ordered a copy on Amazon.

[firewalker]

Originally Posted by DbPhoenix »

Which one is that?..

"Wall Street - Main Street - And You"

[Soultrader]

I ordered this book some time ago reading DB's review. I received it in my mail recently... an old used copy from Amazon, formerly placed in a library somewhere.

There was a note in the front inner cover dated December 8, 1958. Here is the note:

"Miss Kendy felt you might be interested to see "The General Semantics of Wall Street." I hope you enjoy this volume and that you find it worthy of a place on your bookshelves.

Cordially,

John Magee

Yes, I accidentally ordered and received an autographed copy by John Magee himself over 50 years old. A pleasant surprise.

[DbPhoenix]

Originally Posted by Soultrader »

I ordered this book some time ago reading DB's review. I received it in my mail recently... an old used copy from Amazon, formerly placed in a library somewhere.

There was a note in the front inner cover dated December 8, 1958. Here is the note:

"Miss Kendy felt you might be interested to see "The General Semantics of Wall Street." I hope you enjoy this volume and that you find it worthy of a place on your bookshelves.

Cordially,

John Magee

Yes, I accidentally ordered and received an autographed copy by John Magee himself over 50 years old. A pleasant surprise.

Wow! Now that's pretty cool. Hope you enjoy it.

[dla133]

I have read too many trading books over the last 5 years. Of all the trading books this one has had the most impact. I was a little confused to what it was trying to tell me at first, however when the penny dropped it really dropped. Do yourself a favour and read this book. Thanks DP for introducing this to me.