Bulls, Bears and a CroupierThe insider's guide to profi ting from the Australian stockmarket
An experienced Australian fund manager explains how the share market can be a fun and simple place to operate if you take the right approach. The share market is awash with new opportunities to profit everyday as millions of shares in thousands of companies change hands. Even if half of your decisions go wrong you still have a genuine chance of generating a profit like the pros – it really is the easiest game on earth! Despite all of this the share market has lost its appeal for many people since the onset of the GFC. In Bulls, Bears and a Croupier Matthew Kidman explains why a new bull market, with the potential to increase stock prices tenfold, is just around the corner and readers need to prise open their wallets. With more than a decade of experience as a professional fund manager, Kidman deconstructs the share market, explodes the myths and turns traditional thinking on its head to show new and experienced investors alike that the share market can be a lot of fun and you can make a lot of money. You just have to know how!
About the author vii Acknowledgements ix Introduction xi Prologue: the croupier's story xvii Part I The wonderful sharemarket 1 The pitch 3 2 The gun investor 15 3 No training and no idea 25 Part II Building the foundations 4 Who are you? The road to discovery 31 5 Creating your own Wall Street 47 6 The nine rules of success 61 Part III Ready, set, go! 7 Finding stocks that go up 81 8 Primary school numbers 95 9 Margins, ratios and all that jazz 119 10 All companies are different 135 11 The perfect company 153 12 Trophy cabinet to rubbish bin 169 13 Don't fight momentum 183 14 Traps 189 15 The mystery of management 203 Part IV Exploding the myths 16 Skin in the game 219 17 Look for the catalyst not the company 233 18 Old and past it 253 19 Smart money — bad results 259 20 Other myths 267 Part V Are professionals better? 21 Professional versus punter 277 22 Money managers, money makers 297 Part VI When does a bull become a bear? 23 Is this a bull or a bear? 311 24 History has the answers 317 25 Where are we in 2011? 331 26 Get ready to touch the sky 347 Epilogue: our former croupier 363 Final word 365 Index 369
Matthew Kidman worked as a journalist at The Sydney Morning Herald covering media, telecommunications and commercial property. In 1997 he was appointed investment editor of the newspaper, with responsibility for all company coverage. He joined funds management outfit Wilson Asset Management in 1998 and over a 13-year period served as an analyst and portfolio manager. In 2003 he was appointed to the role of chief executive officer of the group. Wilson Asset Management specialises in small capitalisation companies and its flagship fund — WAM Capital — over a 12-year period delivered a return of more than 18 per cent per year, compared with the benchmark 8 per cent of the All Ordinaries index. Matthew is also the co-author of two bestselling books: Masters of the Market and Master CEOs.
"What I like about the sharemarket is that you can put a bet on at the start of the race. If your share is going well then you can double your bet. If things are not working out, you remove your bet before the race has ended. It's like you get so many chances to revise your bet before the final outcome is known. you are not locked in from the outset like you are at the horseraces." —Geoff Wilson, Wilson Asset Management Australian retail investors have fallen out of love with the sharemarket since the onset of the GFC. In Bulls, Bears and a Croupier, Matthew Kidman explains why the market's current woes will set up investors for the next great bull market. Investors who are willing to prise open their wallets now, rather than waiting until share prices start to skyrocket, will be the greatest beneficiaries of the next golden era investing. Rich with anecdotes from Kidman's time as a professional fund manager, Bulls, Bears and a Croupier introduces readers to many colorful characters and companies, including a former casino croupier who took a punt on the stockmarket and went from struggle street to millionaire, twice! By exploding sharemarket myths and setting out some simple rules to follow, Kidman demonstrates to new and experienced investors alike how to play the market and profit from the easiest game on earth.
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