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The Investment FAQ (part 7 of 20)

( Part1 - Part2 - Part3 - Part4 - Part5 - Part6 - Part7 - Part8 - Part9 - Part10 - Part11 - Part12 - Part13 - Part14 - Part15 - Part16 - Part17 - Part18 - Part19 - Part20 )
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Archive-name: investment-faq/general/part7
Version: $Id: part07,v 1.61 2003/03/17 02:44:30 lott Exp lott $
Compiler: Christopher Lott

See reader questions & answers on this topic! - Help others by sharing your knowledge
The Investment FAQ is a collection of frequently asked questions and
answers about investments and personal finance.  This is a plain-text
version of The Investment FAQ, part 7 of 20.  The web site
always has the latest version, including in-line links. Please browse

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Different terms and conditions apply to documents on The Investment
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The Investment FAQ is copyright 2003 by Christopher Lott, and is
protected by copyright as a collective work and/or compilation, 
pursuant to U.S. copyright laws, international conventions, and other
copyright laws.  The contents of The Investment FAQ are intended for
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The plain-text version of The Investment FAQ may be copied, stored,
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Neither the compiler of nor contributors to The Investment FAQ make
any express or implied warranties (including, without limitation, any
warranty of merchantability or fitness for a particular purpose or
use) regarding the information supplied.  The Investment FAQ is
provided to the user "as is".  Neither the compiler nor contributors
warrant that The Investment FAQ will be error free. Neither the
compiler nor contributors will be liable to any user or anyone else
for any inaccuracy, error or omission, regardless of cause, in The
Investment FAQ or for any damages (whether direct or indirect,
consequential, punitive or exemplary) resulting therefrom.  

Rules, regulations, laws, conditions, rates, and such information
discussed in this FAQ all change quite rapidly.  Information given
here was current at the time of writing but is almost guaranteed to be
out of date by the time you read it.  Mention of a product does not
constitute an endorsement. Answers to questions sometimes rely on
information given in other answers.  Readers outside the USA can reach
US-800 telephone numbers, for a charge, using a service such as MCI's
Call USA.  All prices are listed in US dollars unless otherwise
Please send comments and new submissions to the compiler.

--------------------Check for updates------------------

Subject: Information Sources - Books

Last-Revised: 16 Jul 2001
Contributed-By: Chris Lott ( contact me )

This article offers a large list of books about investing and personal
finance, divided into four sections: books for beginners, books for
experienced investors, books for professional traders and speculators,
and finally books that I call war stories - insider's tales about the
world of finance.  The lists are sorted by the author's last name within
each section. 

recommends:   [IMAGE]

You can buy books right from here! Right now! Send a gift to someone who
has one of these books on their wish list! But enough hype.  I've
enrolled as an associate, so if you buy any of the books that
are listed here from by using the links on this page, I get a
small referral fee.  I've tried to find paperback (i.e., cheap) editions
of all the books for these links, but please let me know if I missed

The best thing about the Amazon site is that each book listing includes
capsule summaries and reviews contributed by readers, so you might want
to click on the links to check out each book. 

Featured Author for Beginners: Eric Tyson
Here are three books by Eric Tyson that are part of the "..for Dummies"
series.  Readers praise his writing for its practical advice,
objectivity, and gentle humor.  These books offer a great way to start
learning about personal finance and investing.  Amazon sells these
titles for about $20 each including the shipping charges. 

   * Eric Tyson
     Investing for Dummies (out of print, but available used)
   * Eric Tyson and James C.  Collins
     Mutual Funds for Dummies
   * Eric Tyson
     Personal Finance for Dummies

Books for beginning investors
These books concentrate on personal finance, budgeting, and also offer
some introductory material on basic investment strategies. 
   * Barbara Apostolou, Nicholas G.  Apostolou
     Keys to Investing in Common Stocks (Barron's Business Keys)
   * Ginger Applegarth
     Wake Up and Smell the Money
   * Janet Bamford, Jeff Blyskal, Emily Card, and Aileen Jacobson
     The Consumer Reports Money Book: How to Get It, Save It, and Spend
     It Wisely (3rd edn)
   * Wayne G.  Bogosian and Dee Lee
     The Complete Idiot's Guide to 401(k) Plans
   * Samuel Case
     The First Book of Investing: The Absolute Beginner's Guide to
     Building Wealth Safely
   * David Chilton
     The Wealthy Barber
   * George S.  Clason
     The Richest Man in Babylon
   * Jonathan Clements
     25 Myths You'Ve Got to Avoid If You Want to Manage Your Money
     Right: The New Rules for Financial Success
   * John Downes and Jordan Elliot Goodman
     Dictionary of Finance and Investment Terms
   * Ric Edelman
     The Truth About Money: Because Money Doesn't Come With Instructions
     (2nd edition)
   * Louis Engel
     How to Buy Stocks
   * David Gardner and Tom Gardner
     You Have More Than You Think: The Motley Fool Guide to Investing
     What You Have
   * Alvin Hall
     Getting Started in Stocks (3rd edn.)
   * Ken Kurson
     The Green Magazine Guide to Personal Finance: A No B.S.  Book for
     Your Twenties and Thirties
   * Barbara Loos
     I Haven't Saved a Dime, Now What?!
   * James Lowell
     Investing from Scratch: A Handbook for the Young Investor
   * Peter Lynch and John Rothchild
     Learn to Earn: A Beginner's Guide to the Basics of Investing and
   * Dale C.  Maley
     Index Mutual Funds: How to Simplify Your Financial Life and Beat
     the Pros
   * Kenneth M.  Morris and Alan M.  Siegel
     The Wall Street Journal Guide to Understanding Money and Investing
   * Kenneth M.  Morris and Alan M.  Siegel
     The Wall Street Journal Guide to Understanding Personal Finance
   * Kenneth M.  Morris, Alan M.  Siegel, and Virginia B.  Morris
     The Wall Street Journal Guide to Planning Your Financial Future
   * W.  Patrick Naylor
     10 Steps to Financial Success: A Beginner's Guide to Saving and
   * Suze Orman
     The 9 Steps to Financial Freedom
   * Kenan Pollack and Eric Heighberger
     The Real Life Investing Guide
   * Jonathan D.  Pond
     4 Easy Steps to Successful Investing
   * Jane Bryant Quinn
     Making the Most of Your Money
   * Claude Rosenberg
     Stock Market Primer
   * John Rothchild
     A Fool and His Money: The Odyssey of an Average Investor
   * Alfred V.  Scillitani
     Basic Investing Guide For The New Investor (2nd edn.)
   * Kathleen Sindell
     Investing Online for Dummies (3rd edn.)
   * Andrew Tobias
     The Only Investment Guide You'll Ever Need
   * Eric Tyson
     Investing for Dummies
   * Eric Tyson and James C.  Collins
     Mutual Funds for Dummies
   * Eric Tyson
     Personal Finance for Dummies
   * Diane Vujovich
     10 Minute Guide to the Stock Market

Books for intermediate investors
These books assume you're comfortable with the basics of stocks, mutual
funds, bonds, and other securities.  They offer many investment
strategies: what to buy, what to sell, and when to do so. 
   * Ted Allrich and William O'Neil
     The On-Line Investor: How to Find the Best Stocks Using Your
   * Frank Armstrong
     Investment Strategies for the 21st Century
     This book is available from the author's web site at no charge,
     although registration is required. 
   * Peter Bernstein
     Against the Gods: The Remarkable Story of Risk
   * Peter Bernstein
     Capital Ideas: The Improbable Origins of Modern Wall Street
   * John C.  Bogle
     Bogle on Mutual Funds
   * John C.  Bogle
     Common Sense on Mutual Funds: New Imperatives for the Intelligent
   * James W.  Broadfoot
     Investing in Emerging Growth Stocks
   * Mary Buffett and David Clark
     Buffettology: The Previously Unexplained Techniques That Have Made
     Warren Buffett the World's Most Famous Investor
   * Frank Cappiello
     New Guide to Finding the Next Superstock
   * Charles B.  Carlson
     Buying Stocks Without a Broker
   * Samuel Case
     Big Profits from Small Stocks: How to Grow Your Investment
     Portfolio by Investing in Small Cap Companies
   * Burton Crane
     The Sophisticated Investor
   * John M.  Dalton
     How the Stock Market Works
   * Nicolas Darvas
     How I Made 2,000,000 in the Stock Market
   * William Donoghue
     Mutual Fund Superstars
   * David N.  Dreman
     Contrarian Investment Strategies: The Next Generation
   * Stephen Eckett
     Investing Online: Dealing in Global Markets on the Internet
   * Kenneth Fisher
     Super Stocks
   * Norman G.  Fosback
     Stock Market Logic
   * David Gardner and Tom Gardner
     The Motley Fool Investment Workbook
   * David Gardner and Tom Gardner
     The Motley Fool Investment Guide: How the Fool Beats Wall Street's
     Wise Men and How You Can Too
   * Gary Gastineau
     The Stock Options Manual
   * Michael Gianturco
     How to Buy Technology Stocks
   * Braden Glett
     Stock Market Stratagem: Loss Control and Portfolio Management
   * Benjamin Graham and Warren E.  Buffett
     The Intelligent Investor: A Book of Practical Counsel
   * Christopher Graja and Elizabeth Ungar
     Investing in Small-Cap Stocks
   * William Greider
     Secrets of the Temple: How the Federal Reserve Runs the Country
   * C.  Colburn Hardy
     The Fact$ of Life
   * Peter I.  Hupalo
     Becoming an Investor: Building Wealth by Investing in Stocks,
     Bonds, and Mutual Funds
   * Investor's Business Daily
     Investor's Business Daily Guide to the Markets
   * David Kansas and James Cramer
     The Street.Com Guide to Smart Investing in the Internet Era
   * Harvey C.  Knowles and Damon H.  Petty
     The Dividend Investor
   * Robert Lichello
     How to Make $1,000,000 in the Stock Market - Automatically
   * Jeffrey B.  Little and Lucien Rhodes
     Understanding Wall Street
   * Gerald M.  Loeb
     The Battle for Investment Survival
   * Peter Lynch and John Rothchild
     Beating the Street
   * Peter Lynch and John Rothchild
     One up on Wall Street also available: audio cassette edn. 
   * Burton Malkiel
     A Random Walk Down Wall Street
     This is a classic, and offers a highly readable argument for index
     funds (also known as modern portfolio theory). 
   * Geoffrey A.  Moore, Paul Johnson, and Tom Kippola
     The Gorilla Game: An Investor's Guide to Picking Winners in High
   * William J.  O'Neil
     How to Make Money in Stocks: A Winning System in Good Times or Bad
   * James O'Shaughnessy
     How to Retire Rich: Time-Tested Strategies to Beat the Market and
     Retire in Style
   * James P.  O'Shaughnessy
     Invest Like the Best: Using Your Computer to Unlock the Secrets of
     the Top Money Managers
   * James P.  O'Shaughnessy
     What Works on Wall Street: A Guide to the Best-Performing
     Investment Strategies of All Time
   * Carl H.  Reinhardt, Alan B.  Werba, and John J.  Bowen
     The Prudent Investor's Guide to Beating the Market
   * Hildy Richelson and Stan Richelson
     Straight Talk about Bonds and Bond Funds
   * L.  Louis Rukeyser
     How to Make Money in the Stock Market
   * Terry Savage
     New Money Strategies for the 1990's
   * Charles Schwab
     How to be Your Own Stockbroker
   * Steven R.  Selengut
     The Brainwashing of the American Investor
   * Dhun H.  Sethna and William O'Neil
     Investing Smart: How to Pick Winning Stocks With Investor's
     Business Daily
   * Robert Sheard
     The Unemotional Investor: Simple Systems for Beating the Market
   * Jeremy J.  Siegel
     Stocks for the Long Run
   * Michael Sincere and Deron Wagner
     The Long-Term Day Trader
   * John A.  Tracy
     How to Read a Financial Report
   * John Train
     New Money Masters
   * Venita Vancaspel
     Money Dynamics for the 1990s
   * John G.  Wells
     Kiss Your Stockbroker Goodbye: A Guide to Independent Investing
   * Martin E.  Zweig and Morrie Goldfischer
     Martin Zweig's Winning on Wall Street (revised and updated)

Books for expert investors, especially concerning technical analysis
These books are aimed at people who have a solid understanding of
finance and/or trade for a living.  There are quite a few on technical
analysis for the "chartists" out there. 
   * Steven B.  Achelis
     Technical Analysis from A to Z
   * Nicholas G.  Apostolou
     Keys to Investing in Options and Futures
   * Robert C.  Beckman
     Elliott Wave Explained: A Real-World Guide to Predicting and
     Profiting from Market Turns
   * Jake Bernstein
     The Compleat Day Trader: Trading Systems, Strategies, Timing
     Indicators, and Analytical Methods
   * Peter Bernstein (ed.)
     The Portable MBA in Investment
   * Tushar S.  Chande and Stanley Kroll
     The New Technical Trader: Boost Your Profit by Plugging into the
     Latest Indicators
   * Robert W.  Colby and Thomas A.  Meyers
     Encyclopedia of Technical Market Indicators
   * John C.  Cox and Mark Rubenstein
     Options Markets
   * Thomas R.  Demark
     New Market Timing Techniques: Innovative Studies in Market Rhythm
     and Price Exhaustion
   * Mark Douglas
     The Disciplined Trader
   * Robert D.  Edwards and John Magee
     Technical Analysis of Stock Trends
   * Alexander Elder
     Trading for a Living: Psychology, Trading Tactics, Money Management
   * Marc Friedfertig and George West
     The Electronic Day Trader
   * A.  J.  Frost, Robert J.  Prechter, and Robert R.  Prechter
     Elliott Wave Principle: Key to Market Behavior
   * Benjamin Graham and David L.  Dodd
     Security Analysis
   * John C.  Hull
     Options, Futures, and Other Derivatives
   * Jonathan E.  Ingersoll
     Theory of Financial Decision Making
   * R.  A.  Jarrow
     Modelling Fixed Income Securities and Interest Rate Options
   * William L.  Jiler
     How Charts Can Help You in the Stock Market
   * Jeffrey Katz and Donna L.  McCormick
     The Encyclopedia of Trading Strategies
   * Charles Lebeau and David W.  Lucas
     Technical Traders Guide to Computer Analysis of the Futures Market
   * John F.  Magee
     Analyzing Bar Charts for Profit
   * Lawrence G.  McMillan
     Options as a Strategic Investment
   * Robert Merton
     Continuous Time Finance
   * John J.  Murphy
     Technical Analysis of the Futures Markets
   * John J.  Murphy
     Study Guide for Technical Analysis of the Futures Markets: A
     Self-Training Manual
   * Sheldon Natenberg
     Option Volatility and Pricing: Advanced Trading Strategies and
   * Robert Pardo
     Design, Testing, and Optimization of Trading Systems
   * Robert R.  Prechter and R.  N.  Elliott
     R.  N.  Elliott's Masterworks: The Definitive Collection
   * Martin J.  Pring
     Martin Pring's Introduction to Technical Analysis
   * Martin J.  Pring
     Technical Analysis Explained
   * Peter Ritchken
     Options: Theory, Strategy, and Applications
   * Robert P.  Rotella
     The Elements of Successful Trading
   * William F.  Sharpe, Gordon J.  Alexander, and Jeffery V.  Bailey
   * Clifford Sherry
     The Mathematics of Technical Analysis
   * Victor Sperandeo
     Trader Vic II : Principles of Professional Speculation
   * Robert A.  Taggart
     Quantitative Analysis for Investment Management
   * Nassim Taleb
     Dynamic Hedging: Managing Vanilla and Exotic Options
   * Michael P.  Turner
     Day Trading into the Millennium
   * Stan Weinstein
     Stan Weinstein's Secrets for Profiting in Bull and Bear Markets

Analysis, commentary, and war stories about investments
These books offer analysis, commentary, and war stories from finance
insiders about the trading and investment world.  They probably won't
help you pick stocks, but they're fun to read if you're interested in
finance and markets. 
   * Po Bronson
   * Connie Bruck
     The Predators' Ball: The Inside Story of Drexel Burnham and the
     Rise of the Junk Bond Raiders
   * Bryan Burrough and John Helyar
     Barbarians at the Gate: The Fall of RJR Nabisco
   * Daniel Fischel
     Payback: The Conspiracy to Destroy Michael Milken and His Financial
   * Edwin Lefevre
     Reminiscences of a Stock Operator
   * Michael Lewis
     Liar's Poker: Rising Through the Wreckage on Wall Street
   * Charles MacKay, Josef De La Vega, and Martin S.  Fridson
     Extraordinary Popular Delusions and the Madness of Crowds and
     Confusion De Confusiones
   * Victor Niederhoffer
     The Education of a Speculator
   * Jim Rogers
     Investment Biker: Around the World with Jim Rogers
   * Robert J.  Shiller
     Irrational Exuberance
   * James B.  Stewart
     Den of Thieves If you can't find what you're looking for on
Amazon.Com, you might check out The Trader's Library of Columbia, MD. 
They maintain a web site that has over 600 investment titles.

Those who are just learning about the stock market may wish to have a
look at the article in the FAQ with advice for beginners . 

--------------------Check for updates------------------

Subject: Information Sources - Conference Calls

Last-Revised: 29 May 1999
Contributed-By: John Schott (jschott at

Companies listed on the various stock exchanges have long held analyst
conferences to spread their message to the investment community.  Often,
sponsors such as Hambrecht and Quist have held conferences where
investment professionals could hear many firms in several days.  To
accomodate those who couldnt travel, the conference call allowed
hundreds of analysts to hear a presentation and ask questions in real
time.  But access was usually restricted to investment professionals and
often involved long-distance toll charges.  Occasionally a friendly
broker would loan you his access codes, some of which found their way to
the Internet.  As a result, conferences could be swamped. 

The Internet now provides a much more practical venue for the conference
call.  With its low cost and ability to accomodate many listeners it is
now practical to open a conference call to almost anyone (at least to
listen).  Many firms now do.  For example, a recent article in the Wall
Street Journal related how IOMEGA does this as an efficient way to
control the irresponsible babble on Internet bulletin boards.  People
posting idle chatter now attract accurate responces from others who have
heard the actual story on a conference call.  As a result, the
irresponsible postings are controlled. 

Naturally, investment professionals complain that this allows the novice
to access raw information that needs interpretation by someone more
knowledgable - namely such a professional.  However, companies like the
ability to make one public statement, and then be free from goverment
limitations on how investment information must be released.  And
individual investors like it too, as access to this information gets
them access to information that once only slowly reached the average
investor.  Even Chairman Levitt of the SEC sides with the theory of
greater access for the masses.  According to an article in the 24 May
1999 issue of the Wall Street Journal, the NASDAQ has even funded a
pilot program to pay for public access to conference calls.  Firms such
as DELL and Cosco are early participants . 

Using the Internet has many advantages besides the instantaneous
international release that results.  It is possible to save the audio
files so that the call can be accessed later at a more convenient time. 
Plus it would be possible to edit out meaningless portions to provide
sort of a "Cliff Notes" of each conference.  Naturally, there are some
limitations.  If everyone could ask a question, real brawls could result
as the conferences became uncontrolled.  So most Internet systems limit
who can ask a question. 

An outstanding advantage for the average investor is to witness directly
a firm's management in action.  While the information might be the same,
an investor gains confidence in management that presents a virtuoso
performane over one that is defensive, hesitant, and obfuscative.  The
details aside, the speed of responce and other items that dont get
incorporated in an analyst's report can add a lot to one's
understanding.  Previously, a small investor's only such access might
have been at a company's annual meeting. 

Several firms have opened to provide investment-related conference-call
services in one form or another over the Internet.  Some require
membership and user fees, but the trend seems to be toward company
funding of the low cost service, and free or very low cost access by the
public.  According to the WSJ article mentioned above, firms now
providing some for of access include: Vcall (Philadelphia), (Dallas), (Street Fusion, (San Fransisco), and (Boston).  Expect that more and more firms will offer the
public Internet conference call.  Encourage firms you are interested in
to do so.  This form of communication is yet another form of ultimate
corporate democracy. 

--------------------Check for updates------------------

Subject: Information Sources - Free to All Who Ask

Last-Revised: 28 Apr 1997
Contributed-By: Brook F.  Duerr, Seshadri Narasimhan

Here are some tips about obtaining cheap or free info. 

Local Companies
     Look in your local newspapers for information and stories about the
     companies in your immediate area.  I have found that our local
     papers carry some great articles about our local companies long
     before the WSJ or other papers pick up on them.  The local papers
     tend to report very minute details that the "big" papers never
     report.  The local paper that I get covers insider buys/sells, IPOs
     etc., management changes, detailed earnings reports, analyst
     opinions, you name it. 
Stocks on Call
     A free, fax-back service with lots of stories about companies.  The
     information is biased because it is paid for by the listing
     companies, but it is free, so you get what you pay for.  The list
     has been growing very rapidly, and they company drops the
     information after it has been listed for 24-72 hours, so it pays to
     call often.  Some articles are only posted for one day.  It takes
     me about 5 minutes to get the 10 or so articles I want.  They used
     to publish a list in the papers, but the list is too long to do
     that now.  Once you have the list then you can call and get 3
     stories per call sent directly to your fax.  It is all handled by
     computer (usually).  You can call back and get 3 stories per call
     for free.  I have gotten some great tips here - nice, fast-growing,
     small companies (and some F-500s too).  Although Stocks on Calls is
     automatically provided with your number (a feature of 800 service),
     they state that they will not give your number away to third
     parties.  Contact them at 800-578-7888. 
     A second free, fax-back service, different from Stocks on Call (see
     above).  This service places information into a computer so you can
     access it at any time and it is always available.  Pro-Info has
     such things as Investor Packages, Latest Earnings Reports, news
     releases and analysts reports.  They cover about 100 companies and
     the list is growing.  The quality of the faxes is not great because
     Pro-Info apparently scans the pages into the computer.  Contact
     them at 800-PRO-INFO (800-776-4636). 
Stock Charts
     I get at least one copy of Investor's Business Daily per week.  The
     Friday edition is particularly great.  IBD is available in most
     areas at newsstands, bookstores, etc.  IBD is a good newspaper for
     its charts. 
Archive Information
     For historical information, I save one copy of Barron's or WSJ or
     IBD each month.  If I see a company that I am suddenly interested
     in then I can just open up those old editions and get some pretty
     good historical data.  IBD is great for this. 
An Important Edition of The Wall Street Journal
     I think it is imperative to get a copy of the WSJ that covers the
     year in review.  This edition comes out usually on the first
     business day of the new year.  It contains a lot of information
     about how each stock has performed during that last year, including
     the % movement of the stock during the past year.  I get two copies
     of this paper because I get so much out of them (one for work, one
     for home). 
SEC on Internet
     This is the place where you can obtain Securities and Exchange
     files (10-Ks, 10-Qs, you name it) on companies that file
     electronically with the SEC.  See the entry for information on the
     Internet, elsewhere in this FAQ. 
Archive list for ticker symbols
     Available by accessing this URL:
     (See the entry for information on the Internet, elsewhere in this
Writing Letters
     If you are interested in a company then by all means get their
     address and write them a letter.  If you have a non-discount broker
     then they can get you the company's address.  Otherwise go to
     virtually any library and they will be able to help you find the
     addresses you are interested in.  When you write to a company, tell
     them you are interested in investing in them and you want to learn
     more about them.  Ask for 10Ks, annual reports, 10Qs, quarterly
     summaries, analyst reports and anything else they can send you. 
     Some companies will bury you with information if you just ask.  Ask
     them to add your name to their mailing list for future information. 
     Many companies maintain active mailing lists and so the information
     will keep flowing to you.  All this for only a stamp. 
Public Registers Annual Report Service
     This is a outfit that acts as a clearing house for mailing out
     annual reports on companies.  They have a huge list (several
     thousand) companies that they work for, and they are a free
     service.  They also send out a newspaper called the "Security
     Traders Handbook" and "The Public Register".  These newspapers
     contains wealth of information on earnings, IPOs, insider trades
     etc.  The price on the cover says $5.00, but I have received
     several issues and have never received a bill (I wouldn't pay
     anyway).  You have to write to them to get on their mailing list. 
     The address is: Bay Tact Corporation; 440 Route 198; Woodstock
     Valley, CT 06282.  Write them a letter and ask them what services
     they provide.  They send out annual reports, but they do not carry
     analysts reports and other news release type items.  Try calling
     them at 800 4ANNUAL. 
Reader Service Cards in Investor's Daily or other Places
     Another reason I like to get the Friday edition of IBD is because
     they usually have a bunch of companies hyping themselves and
     offering information if you send in a reader service card.  This is
     another great almost freebie.  For a stamp you can usually find at
     least 3-5 companies that are worth finding out about. 
The Wall Street Journal's Annual Reports Service
     According to their blurb, you can obtain the annual reports and, if
     available, quarterly reports, at no charge for any companies for
     which the 'club' symbol appears in the stock listings.  (The 'club'
     symbol is the same as the one on a playing card.  Look at Section C
     "Money and Investing" of any WSJ and you will see what I mean.)
     These reports can be ordered by calling 800-654-CLUB.  You can also
     fax your request, giving the ticker symbols of the companies whose
     reports you want, to 800-965-5679.  It usually takes at least a
     week to get the information to you. 
Mutual fund companies
     The companies' toll-free lines may be your best friend, if the
     solution might involve investing money with them.  Call them, state
     your problem simply, and request follow-up information in writing. 
     I would be completely honest with them, just tell them if they give
     the best service, you'll invest your money with them.  Of course,
     if your problem can't be solved, even tangentially, with mutual
     funds, you should probably not waste your (and their) time. 

--------------------Check for updates------------------

Subject: Information Sources - Investment Associations

Last-Revised: 10 Oct 1997
Contributed-By: Rajeev Arora, D.  Laird, Art Kamlet (artkamlet at, Jay Hartley (jay at, Doug Gerlach (gerlach

This article introduces several investment associations. 
   * AAII:
     American Association of Individual Investors
     625 North Michigan Avenue
     Chicago, IL 60611-3110
     +1 312-280-0170
     A summary from their brochure: AAII believes that individuals would
     do better if they invest in "shadow" stocks which are not followed
     by institutional investor and avoid affects of program trading. 
     They admit that most of their members are experienced investors
     with substantial amounts to invest, but they do have programs for
     newer investors also.  Basically, they don't manage the member's
     money, they just provide information. 
     Membership costs $49 per year for an individual; with Computerized
     Investing newsletter, $79.  A lifetime membership (including
     Computerized Investing) costs $490. 
     They offer the AAII Journal 10 times a year, Individual Investor's
     guide to No-Load Mutual Funds annually, local chapter membership
     (about 50 chapters), a year-end tax strategy guide, investment
     seminars and study programs at extra cost (reduced for members),
     and a computer user' newsletter for an extra $30.  They also
     operate a free BBS. 
   * NAIC:
     National Association of Investors Corp. 
     P.  O.  Box 220
     Royal Oak, MI 48068
     Tel +1 810 583-NAIC, Fax +1 810 583-4880
     The NAIC is a nonprofit organization operated by and for the
     benefit of member clubs.  The Association has been in existence
     since the 1950's and states that it has over 633,000 members. 
     Membership costs $39 per year for an individual, or $35 for a club
     and $14 per each club member.  The membership provides the member
     with a monthly magazine, details of your membership and information
     on how to start a investment club, how to analyze stocks, and how
     to keep records. 
     NAIC also offers software for fundamental analysis, discounts on
     investing books, research information on member companies, and
     other educational manuals and videotapes.  A network of over 75
     Regional Councils across the US provide local assistance. 
     In addition to the information provided, NAIC operates "Low-Cost
     Investment Plan", which allows members to invest in participating
     companies such as AT&T, Kellogg, Wendy's, Mobil and Quaker Oats. 
     Most don't incur a commission although some have a nominal fee
     Of the 500 clubs surveyed in 1989, the average club had a compound
     annual growth rate of 10.8% compared with 10.6% for the S&P 500
     stock index.  Its average portfolio was worth $66,755. 
   * Investors Alliance:
     The Investors Alliance, Inc. 
     219 Commerical Blvd. 
     Fort Lauderdale, FL 33308-4440
     Tel 888-683-1181
     Investors Alliance was formed to enhance the investing skills of
     independent investors through research, education, and training. 
     They claim membership of over 65,000 investors in 22 countries. 
     Basic Membership is offered at $49 per year and includes twelve
     monthly issues of the Investors Alliance Investor Journal, an
     educational newsletter packed with valuable insights to maximize
     your investment success.  Computer Membership is offered at $89 per
     year and includes a copy of Power Investor for Windows on CD-ROM
     and free daily modem updates of the entire 16,000 security
     database.  New members at either level receive a free voucher for
     two zero-commission stock trades from a leading discount broker. 
     The Investment FAQ is an associate of Investors Alliance.  If you
     use the link shown below to enroll in this club, a small referral
     fee is paid to The Investment FAQ. 

--------------------Check for updates------------------

Subject: Information Sources - Value Line

Last-Revised: 10 Aug 1997
Contributed-By: John Schott (schott at, Chris Lott (
contact me )

The Value Line Investment Survey is the grand-daddy of published
information about stocks of large companies (primarily U.S.  companies
plus a few leading ADRs).  It is a weekly, three-part publication, but
it takes 3 months to cycle through the full list of stocks covered.  The
main document reviews one firm per page (over 100 per week), with a
description of the business, a chart showing the historical stock
performance, tables showing key financial data, plus a written
commentary about the prospects of the firm.  They cover over 1700 stocks
in their normal edition, and over 5,000 in extended coverage offered at
higher prices.  The weekly document also includes short notes on
important developments in covered stocks.  A separate booklet updates
summary ratings and fundamental information on all of the 1700 stocks
each week.  A third document highlights a stock of the week and gives
Value Line's views of the market.  They also have a new CD-ROM based
service that duplicates the data in the hard copy edition and offers the
ability to search and compare stocks automatically.  Several recent
reviews have critiqued the way the program works - but not the quality
nor quantity of the renowned Value Line data base. 

Value Line proudly advertises their rating system.  They divide stocks
into 5 classes (1 is best).  Over the years, their #1 rated stocks have
significantly outperformed the markets (and each other group, its
subordinates, as well).  Value Line has been highly regarded for the
both the quality and quantity of its data for decades.  Almost the
Lingua Franca of investors, you'll find a well-thumbed copy in most
broker's offices, as well as many public and university libraries. 

Value Line offers a special, 10-week trial subscription for US$75
(frequently discounted to $55) which will get you the full set of pages
plus a few updates.  A six-month subscription currently costs $300, and
one year is $570.  The CD-ROM trial subscription is $55 ($95 for the
5000+ stock version).  One-year CD-ROM subscriptions cost up to $995. 

Visit their web site at , or contact them the
old-fashioned way:
     Value Line Publishing Inc. 
     220 East 42nd Street
     New York, New York 1001-5891
     800 535 9648 ext 2761
     +1 212 907-1500

--------------------Check for updates------------------

Subject: Information Sources - Wall $treet Week

Last-Revised: 18 Feb 2003
Contributed-By: Chris Lott ( contact me )

Wall $treet Week With Louis Rukeyser was once a television program that
aired on the public broadcasting networks on Friday evenings After a
flap in June 2002, Louis Rukeyser left the program, which is now
produced jointly with Fortune magazine. 

The program tries to help the individual investor understand the doings
of the stock market and invest wisely.  The usual program features a
special guest and three regular guests.  The "regular guests" are
investment analysts who appear regularly on W$W. 

While Rukeyser was the host, he reported on the opinions of his
"Investment Elves," a group of 10 technical analysts who attempted to
forecast the market's path over the coming weeks.  If you've ever heard
of the "Elve's Index," this is the source.  Of course many of the elves
are also regular guests on the program. 

A new program called Louis Rukeyser's Wall Street is carried by CNBC
every Friday night at 8:30 P.M.  and 11:30 P.M.  Eastern time, and is
repeated over the weekend on many public television stations. 

Here are some web resources:
   * The W$W home page, part of the Maryland Public Television web site:
   * Rukeyser's web site includes information about his TV show.

--------------------Check for updates------------------

Compilation Copyright (c) 2003 by Christopher Lott.

User Contributions:

Gerri Pisciotta
My employer accidentally advised the company handling the 401k investment that I had been terminated, when in fact I had not. As a result, withdrawals discontinued from my pay and I missed a couple years of contributions. Since I never withdrew from the plan, is my employer liable for making up these contributions? If I made a lump sum catchup contribution,could they do the same?
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