Starting out his investment career as a chess playing economist, Richard Farleigh initially believed that investment and trading seemed to be just gambling. Overtime he came to believe that market prices are in fact predictable and developed a repeatable investment methodology to make money investing and trading in the markets. In this book Richard Fairleigh reveals a 100 secrets that he believes will give readers the ability to “tame the lion” and in so doing become better investors.
Richard believes strongly that to invest you need to have both an edge and that you need a disciplined investment approach. Even with both of these he also mentions that investing is more like playing a game of Backgammon than a game of Chess in that markets are unpredictable, like the roll of a dice, so you also need a little luck. This book would be worth reading if you were only to read chapter 9. What is described in this chapter is very much aligned with the Cadence approach to investing in that he describes combining both fundamental analysis with market price action as a “very powerful trading technique”.
This is a must read for all Investors wanting to know more about the behaviours of markets and how to improve their investing skills from an experienced “money maker”.