Wall Street spends over $1 billion a year analyzing stocks. Too bad much of that analysis is garbage, says author Zacks. He should know: he's v-p of the respected firm Zacks Investment Research, and he's witnessed how the cozy relationship between companies and their investment bankers have corrupted investing over the years. Now he's come out with not only a denunciation of sketchy analysts, but a handbook for individual investors for spotting winning stocks on their own. (A hint: it's all about the earnings estimates; firms whose projected earnings are being revised upwards are the ones to bet on.) Zacks's prose is crisp and swift, and he tackles tricky subjects with dispatch. Sometimes the book veers into an advertisement for the firm and its Web site, but the trove of clear-headed market wisdom is well worth the occasional self-promotion.
Copyright 2003 Reed Business Information, Inc.