A former reporter and editor at the New York Times and the Harvard Business Review who now works at PricewaterhouseCoopers, Kurtzman here offers insight into how the stock and bond markets function. He explains how these markets operate and what they do (e.g., package debt in the form of bond offerings, establish pricing for securities and commodities, connect those who seek capital with those who provide it, and other activities) but also how they are influenced by information and global activity (for good and bad) and how investors can use markets to their advantage. Kurtzman emphasizes the need to look for value in the markets and also discusses a technique used by Warren Buffet and many other investing pros discounted cash flow analysis (DCF), which involves knowing how you think a stock will perform over the time you will own it. As examples, Kurtzman uses anecdotes and concrete examples (especially of the recent Internet bubble), making it easy to understand his approach to the subject. Many people are involved with markets through their own investing, pension plans, and 401ks, and this well-written, inexpensive primer provides good introductory material.
– Steven J. Mayover, Philadelphia
Copyright 2002 Cahners Business Information, Inc.
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