|BUSINESSWEEK ONLINE : MARCH 6, 2000 ISSUE|
The Business Week Best-Seller List
There may be just 24 Essential Lessons for Investment Success in William J. O'Neil's book, No. 7 on this month's paperback list. But don't think the 173-page volume will make you a market whiz by the time you step off the plane. Some of his easy-to-read teachings could take years to master.
The author, who founded Investor's Business Daily, produced these rules from 40-plus years of stock market experience. That makes the book suspect: With a market that changes so quickly, accumulated wisdom is less valuable than it used to be. Warren Buffett, perhaps the most successful stock-picker of the last half-century, bombed last year. The price of his Berkshire Hathaway Inc. dropped 20%.
O'Neil's methods are better tuned to today's market: He follows a ''momentum'' strategy that has no problem buying what looks expensive as long as the analysis points to the stock's going higher. That analysis includes ''reading'' stock-price charts. Are you good at picking patterns out of seemingly random movements? He also relies on simpler proprietary numerical ratings, which appear in Investor's Business Daily.
If you follow his teachings, you're going to be trading often. One principle is to sell a stock if it declines 8% from the buy price--no questions asked. In today's volatile market, that's going to lead to a lot of churning. Even with cheap online commissions, it's a cost that can weigh you down.
By JEFFREY M. LADERMAN
1 WHO MOVED MY CHEESE? by Spencer Johnson, M.D. (Putnam $19.95) Learning to accept change.
2 THE NEW NEW THING by Michael Lewis (Norton $25.95) Silicon Valley and its representative man, Jim Clark.
3 FIRST, BREAK ALL THE RULES by Marcus Buckingham and Curt Coffman (Simon & Schuster $25) A Gallup investigation into managerial success.
4 MANAGEMENT CHALLENGES FOR THE 21ST CENTURY by Peter F. Drucker (HarperBusiness $27.50) The dean of management theorists ponders the shape of things to come.
5 THE ROARING 2000s INVESTOR by Harry S. Dent Jr. (Simon & Schuster $25) Taking advantage of global demographic trends.
6 SIX SIGMA by Mikel Harry, PhD, and Richard Schroeder (Currency $27.50) How improvements in quality can boost profits.
7 THE INNOVATOR'S DILEMMA by Clayton M. Christensen (Harvard Business School $27.50) Anticipating new technologies' disruptive effects.
8 CUSTOMERS.COM by Patricia B. Seybold with Ronni T. Marshak (Times Business $27.50) A consultant's analysis of successful e-business practices.
9 GUNG HO! by Ken Blanchard and Sheldon Bowles (Morrow $20) How Walton Works No. 2 fired up its employees.
10 THE 9 STEPS TO FINANCIAL FREEDOM by Suze Orman (Crown $23) Practical and ''spiritual'' steps for managing money.
11 PERMISSION MARKETING by Seth Godin (Simon & Schuster $24) Give customers an incentive to hear your message, says a Yahoo! executive.
12 THE INTERNET BUBBLE by Anthony B. Perkins and Michael C. Perkins (HarperBusiness $27) A shakeout is coming, say the editors of Red Herring.
13 THE CLUETRAIN MANIFESTO by Rick Levine, Christopher Locke, Doc Searls, and David Weinberger (Perseus $23) The Web is a ''conversation''--one that's changing markets.
14 LEAN THINKING by James P. Womack and Daniel T. Jones (Simon & Schuster $26) Building the ''lean enterprise.''
15 THE 21 IRREFUTABLE LAWS OF LEADERSHIP by John C. Maxwell (Thomas Nelson $17.99) A minister's codification.
1 THE 7 HABITS OF HIGHLY EFFECTIVE PEOPLE by Stephen R. Covey (Fireside $14) Habitually popular.
2 RICH DAD, POOR DAD by Robert T. Kiyosaki with Sharon L. Lechter, CPA (TechPress $15.95) Teaching your kids the rules of money that the rich play by.
3 THE MILLIONAIRE NEXT DOOR by Thomas J. Stanley, PhD, and William D. Danko, PhD (Pocket Books $14) The simple ways of the wealthy among us.
4 THE MOTLEY FOOL INVESTMENT GUIDE by David and Tom Gardner (Fireside $13) The online duo puts it on paper.
5 THE ERNST & YOUNG TAX GUIDE 2000 by the Tax Partners and Professionals of Ernst & Young LLP (Wiley $15.95) Time to sharpen those pencils.
6 WHAT COLOR IS YOUR PARACHUTE? 2000 by Richard Nelson Bolles (Ten Speed Press $16.95) The enduring job-search bible.
7 24 ESSENTIAL LESSONS FOR INVESTMENT SUCCESS by William J. O'Neil (McGraw-Hill $10.95) The founder of Investor's Business Daily offers wisdom on stock-picking.
8 SMART WOMEN FINISH RICH by David Bach (Broadway Books $13) A Morgan Stanley Dean Witter senior vice-president's personal-finance guide for women.
9 THE ROARING 2000s by Harry S. Dent Jr. (Touchstone $14) Why the good times won't go away.
10 J.K. LASSER'S YOUR INCOME TAX 2000 by the J.K. Lasser Institute (IDG Books $14.95) Um, does the dog count as a dependent?
11 THE WALL STREET JOURNAL GUIDE TO UNDERSTANDING MONEY & INVESTING by Kenneth M. Morris and Virginia B. Morris (Fireside $15.95) Concise explanations enriched with graphics.
12 INVESTING FOR DUMMIES by Eric Tyson (IDG Books $19.99) From stocks to small business--with cartoons, too.
13 THE MOTLEY FOOL'S RULE BREAKERS, RULE MAKERS by David and Tom Gardner (Fireside $13) Investing in upstarts and in established companies.
14 GETTING TO YES by Roger Fisher, William Ury, and Bruce Patton (Penguin $12.95) A Harvard University team's step-by-step guide to conflict resolution.
15 BARRON'S DICTIONARY OF FINANCE AND INVESTMENT TERMS by John Downes and Jordan Elliot Goodman (Barron's $13.95) What is an oligopsony anyway?
BUSINESS WEEK's Best-Seller List is based on a survey of chain and independent booksellers that carry a broad selection of books on economics, management, sales and marketing, small business, investing, personal finance, and careers. Well over 1,000 retail outlets nationwide are represented. Current rankings are based on a weighted analysis of unit sales in January.
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