Online Investing: The Wall Street Journal Interactive Edition's Complete Guide to Becoming a Successful Internet Investor
DAVE PETTIT | RICH JAROSLOVSKY


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The editors of the online version of The Wall Street Journal have produced a comprehensive overview of the best Web sites and resources available to the online investor. "There's no question that the Net has empowered a new generation of investors, giving them access to information and tools that were once available only to the privileged Wall Street few," say authors Dave Pettit and Rich Jaroslovsky in Online Investing.

Both the neophyte and savvy investor will find this book an informative and useful resource. It tells where to find the best interactive tools, online calculators, and worksheets for selecting stocks and mutual funds and for researching and charting investments. There's plenty of practical information here, such as how to pick an online broker and how to invest online in IPOs, bonds, futures, and options. Newsletters, bulletin boards and chat rooms are covered, and there's a detailed chapter on how to avoid the online scams, frauds, and deceptions that author Pettit specializes in exposing in his online column "Heard on the Net." For those already victimized, a chapter entitled "Recourse" includes contact information for state and federal regulators and details as to how to proceed. Concluding chapters explain how to choose an online banking service, and how to find the best online deals on credit cards, home mortgages, and insurance.

There is much of practical value here for those who use the Internet to research, trade, and track investments and finances. As a guide to the best of these sites on the Web, this book is highly recommended. --Scott Harrison


1 very basic guidebook for novices
This book is an entertaining, written in easy non-technical language, but VERY basic text about what types of investing and trading exist, how they work (i.e., what and where is traded), and where to look for further information about these issues on the internet. The book does a good job discussing what sources of information can be trusted on the web, and which not, and gives an useful list of URLs on every investing-related topic you can think of. The comparative analysis of online brokerages and their services and fees is quite good. Stocks, IPOs, mutual funds, bonds, futures, and options are explained on a very simple level, which will help those who never heard these words to understand what they mean. I liked that the book is unbiased: unlike most other guides on online investing it does not promote a specific web page or a specific online brokerage. This book is fun to read, and it would be a good starting point for people who decided to go into online investing (but never did it before) and have little or no internet experience. However, my opinion is that it does not woth purchasing if you already have investing experience or read a few other books about investing because the book is just too simple and not as much about investing strategies as about the web resources, discussion boards, and investor stories. The authors' analysis of what drives the discussion boards is probably the only part which I have not seen anywhere else; this part may be useful for investors on all levels. Therefore, my rating is 5 stars for the novices, 3 for everyone else, which makes it 4 stars in average. By the way, most of this book is available online on wall street journal web page, so check it out before you buy.
2 A good supplement for a well trained investor
This book offers an excellent introduction to the mechanics of online investing. Don't look for the secret to successful investment results. But if you already have the basics of asset allocation and markets, it is a well written how-to guide to assist you in dramatically lowering your transaction costs. But hurry...this information will become stale at lightning speed.
3 Another fine Wall Street Journal Guide
The Wall Street Journal has come out with a series of clear and concise investing guides in the past. This one, from the editors of the interactive site, is a little bit more involved than the other ones, but just as helpful. Unlike some other online investing guides I've read, this book doesn't advocate risky trading, and leans in the direction of more conservative advice. Still, it covers a wide variety of trading strategies for the more adventurous. It's a good introduction for beginners, but it also is helpful to an experienced investor who hopes to become a more well-rounded investor. I highly recommend it.

Thursday, 24-Jul-2008 06:35:41 CDT
Quote of the Day:


Here is a simple experiment that will teach you an important electrical

lesson: On a cool, dry day, scuff your feet along a carpet, then reach your
hand into a friend's mouth and touch one of his dental fillings. Did you
notice how your friend twitched violently and cried out in pain? This
teaches us that electricity can be a very powerful force, but we must never
use it to hurt others unless we need to learn an important electrical lesson.
It also teaches us how an electrical circuit works. When you scuffed
your feet, you picked up batches of "electrons", which are very small objects
that carpet manufacturers weave into carpets so they will attract dirt.
The electrons travel through your bloodstream and collect in your finger,
where they form a spark that leaps to your friend's filling, then travels
down to his feet and back into the carpet, thus completing the circuit.
Amazing Electronic Fact: If you scuffed your feet long enough without
touching anything, you would build up so many electrons that your finger
would explode! But this is nothing to worry about unless you have
carpeting.
-- Dave Barry, "What is Electricity?"

Suffering alone exists, none who suffer;
The deed there is, but no doer thereof;
Nirvana is, but no one is seeking it;
The Path there is, but none who travel it.
-- "Buddhist Symbolism", Symbols and Values