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The selection method detailed in this book is called CANSLIM. The information, and CANSLIM method, is based on years of research and number crunching with main frame computers some years ago. O'Neil and his associates profiled 100s of already successful companies to determine what characteristics made a company's stock rise BEFORE it was a winner. His findings, and the CANSLIM selection method, are explained in great detail.
William O'Neil is also the CEO and Editor of the Investors Business Daily. His CANSLIM method of stock selection can best be executed using his IBD Newspaper. Surprise! Bound inside, there is a coupon for 10 free issues.
"How To Make Money In Stocks" is not the easiest book to understand for the beginner. It's information though will help narrow down 1000s of stocks to just one or two. I use it as a reference book and refer to it often. Take some notes on the inside cover- your going to need them.
An excellent buy, this book is destined to be a classic. As William himself says of one of his chapters: "one of the most valuable chapters in this book.... should be worth several hundred times what you paid for [it]. I agree.
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O'Neill's discussion of Rand's thought is informative and more or less accurate. On the other hand, he doesn't make enough of an effort to integrate Rand's thought into a coherent whole (granted, this isn't easy to do). So I don't think that someone new to Ayn Rand would understand why Rand has influenced so many people. Yet O'Neill does do a good job at bringing to light of some of the contradictions in Rand's work. For example, Rand preached that compromise was evil; yet she supported candidates for president who were anything but Objectivists. However, some of the alleged contradictions Prof. O'Neill finds would disappear if he had used a bit more "charity" in interpreting Rand.
If you want to read a sympathetic integration of Rand's thought, I recommend Chris Sciabarra's AYN RAND: THE RUSSIAN RADICAL.
His work was informed by an exhaustive survey of objectivist literature. He left no stone unturned either in giving Rand the benefit of the doubt or in pinning down the definitions Rand herself or other Objectivists gave to the terms they used.
He makes no extreme claims about objectivism. The book is an analysis, not a polemic.
Albert Ellis' book, _Is Objectivism a Religion?_ is a good companion to this book. Both books have ramifications for libertarianism and even for the somewhat reified and theological capitalism that dominates America politically. This is because the same inconsistencies and factual errors that the objectivists are guilty of permeate libertarianism and the debunked but still influential economic theories like supply-side or Austrian economics that have political power long after working economists despaired of finding any practical use for them.
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