Bests & Worsts Reviews from Amazon

Chapter three will change your outlook on life. Absolute returns - critical to success in the markets! It doesn't matter what the unemployment rate is if you are the one unemployed. The performance of the S&P is inconsequential if your account is down 20%. What matters is the balance of your account on December 31st. Through the increases of the late `90's I got caught up in analyst recommendations or the latest skirt on CNBC. I knew more about the CNBC personalities than I did about my own family. My method of portfolio balancing was having a little of Xerox to balance out Worldcom and Yahoo. 2000 and 2001 came. My account was down 80% from its peak. The S&P was down 50% and I was down 80%. Did it matter what the S&P returned? No. I was still down 80%. The author uses a quote from Ed Seykota - "No matter what kind of math you use, you wind up measuring volatility with your gut." Brilliant.