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"A major contribution...on the behavior of common stocks in the United States." (Financial Analysts' Journal)

The consistently best-selling What Works on Wall Street explores the investment strategies that have provided the best returns over the past 50 years - and which are the top performers today. The third edition of this BusinessWeek and New York Times best seller contains more than 50 percent new material and is designed to help you reshape your investment strategies for both the post-bubble market and the dramatically changed political landscape.

This updated classic allows you to directly compare popular stock-picking strategies and their results - creating a more comprehensive understanding of the intricate and often confusing investment process. Providing fresh insights into time-tested strategies, it examines:

Value versus growth strategies P/E ratios versus price-to-sales Small-cap investing, seasonality, and more
Reviewer: Mark Merryfield
Rating: 5.0 out of 5 stars
Title: Making Money the Old Fashioned Way
Review: What Works: Making Money The Old Fashioned WayThis is very thorough look at the many different investment strategies in stocks that one can use. It shows what the actual returns have been from the mid 20's to current time. It is very eye-opening on What Works. The study points out that no one strategy will work best and there are times that fad investing will outperform the S. and P 500. But when the fad ends, the losses can happen quickly and can be quite painful. Witness the dot com boom and bust in the late 1990's. If you want to be the next Benjamin Graham, Warren Buffet or Peter Lynch this would be a very useful read.Today stocks are being avoided as a very risky low return investment. Bonds are still the choice of safety and return. But every dog has his day and stocks have had a good run and may continue on that path for some time as there are not many competitive choices to equity ownership. The problem with owning a volatile investment class is monthly swings and this leads the investors with the desire to sell in a down market to cut losses. Now the popular investment strategy is to trade in and out of the market to reduce losses, but many are missing the upside because of this strategy. Being out of the market for a day, week, or month each year (when markets are going up) can greatly reduce one's return. Therefore understanding one's risk tolerance is the most important strategy and how much you can afford to loss will lead to a more successful long term chance for happy results.Investing in all classes of assets and giving value the biggest weight seems to be the best long term strategy. First start with how much money you realistically see lost on your monthly statement before feeling the urge to sell and run to the hills. So your portfolio should be a balance of risk free investments and longer term risk assets. Think in terms of percentages and not dollars . Keep rebalancing at least once a year. A quarterly rebalancing would even be better.Understanding why you are investing and what the portfolio you are creating will be used for in the future is helpful. It will lead you to different portfolio strategies. The biggest use of funds will be retirement and there is a growing debate on how much you will need in retirement. This has lead to trying to simplify a complex calculation to a couple of data points. It is complicated but there are many worksheets that can help get to a number that one would need. If you do the numbers, it may show that you need more juice out of your investments or more savings. In either case this book can be great tool in getting your portfolio working harderThe keys are thinking long term and searching for value investments. If everyone is talking about how well a company is doing , it may be fully valued.

Reviewer: Jay from Redmond
Rating: 5.0 out of 5 stars
Title: Good book
Review: Other books offer similar advice. Few books offer advice that's been rigorously tested against as much historical data as possible.I started with Joel Greenblat's 'Little Book That Still Beats the Stock Market', then James O'Shaughnessy's son Patrick's book 'Millennial Money'. Both do a good job warming up a novice investor to the concepts and basic guidelines that comprise the best strategies from this book, but with less expectation that the reader will have market and accounting fundamentals, or patience for many chapters of dry experiment reports.Of these books this is the most refined and extensive, and drives home an understanding of risk from the standpoint of one who doesn't buy the random walk theory.I'm confident I'll do all right investing using this information in my strategies long term.

Reviewer: Matt K
Rating: 4.0 out of 5 stars
Title: This is for those who studied finance
Review: Great book! It is research based with lots of empirical evidence using finance and statistics. If you never studied finance and statistics, then this book would be hard for you to understand. Received this autographed by the author. It’s a large book filled with evidence of his findings in research. I find this book interesting, but sometimes I just wish the author spoke of his findings rather than read all the substantive evidence he provides.

Reviewer: RC
Rating: 5.0 out of 5 stars
Title: A Wealth of Valuable Information
Review: This book provides a wealth of thoroughly backtested research. It is essential reading for anyone who takes investing seriously. I have used it in my screening processes to good effect. It's the type of book I wish I could have read decades ago.

Reviewer: David Whitlatch
Rating: 5.0 out of 5 stars
Title: Great book and a must have for a beginning or novice investor!
Review: This is a great book! James goes over ton of scenarios and breaks them each down in length of time in the investment. It typically shows 5, 7, and 10 year periods year of year. He covers which metrics are proven to work best and how others have worked over a period of time and then become obsolete. For example many people often looked at PE ratio, he shows that at one time it was a great indicator but lost its staying power over time. James covers the indicators which up to the date of this book have the real staying power and work out best for the investor. In the end, I found this book as a must have for any investor looking to grow their portfolio. If you're a beginner investor you should certainly read this book before investing a dime. I wish I would have!

Reviewer: Lee Wenzel
Rating: 5.0 out of 5 stars
Title: Nicely organized long-term stock picking data
Review: While there is an overwhelming amount of data, the point is that one can't pick winning stock screens from a mere million records over five or ten years. The data is nicely organized and it is easy to get the picture reading the first and last pages of each chapter, then delve in later if needed. Each chapter follows a similar format, making it easy to use the book as a reference. The O'Shaughnessy keynote to the AAII national conference in 11/2013 is a good intro, and available from AAII. An article in the March issue of AAII Journal maps out instructions on how to implement the findings of the book using the AAII database. This is the best guide to stock screens that I have found in my twelve years as a money manager.

Reviewer: Wayne
Rating: 5.0 out of 5 stars
Title: LOTs to chew on !
Review: If you are into technical trading for your investments, here are the long term results of analysis of many possible strategies. There are LOTs of numbers. Some strategies are clearly superior to others. This book gives you concrete analaysis which ones. You need to be comfortable with your math skills. I highly recommend this book ! Please ensure you KNOW your risk tolerance before investing. Understand that profits and losses are part of the game. Your task is to determine your level of variability that you can sleep with.. then choose a strategy suitable to your age, and appropriate risk tolerance.

Reviewer: Marc
Rating: 5.0 out of 5 stars
Title:
Review: The best quantitative investment I have read. Well explained, well researched, transparent methodology. Such an 🤩🤩🤩

Reviewer: Soraya A.
Rating: 5.0 out of 5 stars
Title:
Review: Didáctico e instructivo, pero tienes que estar preparado mentalmente para leerlo con toda tu atención. Tienes que haber leído antes libros de iniciación a la inversión puesto que si no, vas a estar parando la lectura constamente. Pero también tener un buen espíritu crítico hacia el contenido

Reviewer: Reichelt, Martin
Rating: 5.0 out of 5 stars
Title:
Review: Ich hab die deutsche Version der Vorgängerauflage. Diese hab ich mir wegen den Daten der Finanzkrise gekauft.Und auch das Buch hier ist Klasse. Nicht einfach zu verstehen und enorm viele Daten. Aber ein, meiner Meinung nach, das Buch wenn man eine Investmentstrategie sucht.Man muss sich natürlich dann auch Gedanken machen, woher man die Daten bekommt etc. aber die Grundlage legt das Buch. Ich fahre eine Strategie des Buches und bin im Crash 2022 sehr zufrieden damit (Drawdown aktuell nur 10% in der Phase)Man wird drauf vorbereitet was einem zur jeweiligen Strategie wirklich erwarten kann. Solche Daten sind Gold wert

Reviewer: Sumit
Rating: 5.0 out of 5 stars
Title:
Review: Genuine Original book..Value for Money

Reviewer: Paolo
Rating: 5.0 out of 5 stars
Title:
Review: Ce livre est fait pour les investisseurs long terme en bourse. Délivre les statistiques des performances boursières en analysant les facteurs prédictifs d'une bonne performance.