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Essay / Research Paper Abstract
A 5 page informational overview of what is an especially important primer for the first-time investor. No additional sources are used.
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5 pages (~225 words per page)
File: TG15_TGcraftin.rtf
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investment. One of his most important texts especially for the reader that is interested in becoming a first-time investor is Trains The Craft of Investing, which was first published
by HarperCollins in 1994. This is an enlightening and thoroughly readable how-to text that boldly suggests that any book that informs readers that investments are easy is not worth
reading. That does not mean that discussing various types of investment strategies has to be convoluted and cumbersome. Train believes in erring on the side of conservatism, and
is naturally suspicious of bold methodologies that have not successfully withstood the test of time. But he argues that financial investment is a subject that has been analyzed to
death, and that understandable basic terms provide far more useful and lasting information than attempting to process complex concepts and overanalyze minute changes in market fluctuations. The text itself is
comprised of four sections, entitled "The Craft," "The Nature of Markets," "Alternatives," and "Planning Your Finances." However, it is the first half of the text that provides the most
detail and reader intrigue because it is devoted completely to investments - buying and selling. Again, Train advocates plain speaking by recommending two techniques he believes investors can use
with reasonable success (3). First, he recommends buying "growth stocks during market washouts" and then keeping them until the growth slows down (Train 4). Another alternative is buying
companies that are forced to sell cheaply, and then sell them again after they have rebounded (Train 4). Train advises that each investment course requires a certain amount of
worldly sophistication combined with some affinity for analysis. He states that while investment professionals must be aware of many things, a private investor can do quite well knowing just
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