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"Stein and DeMuth have got it right...a great book." Andrew Allentuck, The Globe

"A smart, commonsense guide ... should be required reading for anyone even thinking of investing." Publisher's Weekly

"Readable, coherent, sensible, good-natured and written in English." Alan Abelson, Barron's

"An interesting and thoughtful analysis." Professor Milton Friedman, Nobel Prize Winner in Economics

"A fine introduction to the world of market indicators, accompanied by a healthy dose of humor and a delightfully scathing attitude toward Wall Street." -- Jonathan Clements, The Wall Street Journal Online

"The Stein/DeMuth investment program is a paragon of caution and a bulwork against loss." -- Dan Ackman, Forbes.com

"The logic and reasoning are persuasive. Stein and DeMuth buttress them with evidence, lots of it." -- C. Lowell Harriss, Professor Emeritus of Economics, Columbia University

"No gimmicks, no games, just tapping the true power of economics to make sensible investment decisions. Add to that the authors dry wit, and this handbook is a must-read for investors small and large." -- Diane C. Swonk, Chief Economist, Bank One Corporation

"Stein and DeMuth's findings are both verifiable and free of quantitative trickery. What's more, their writing is as clear and straightforward as the methods they recommend." -- Martin Fridson, author, It Was a Very Good Year: Extraordinary Moments in Stock Market History

"A well-argued case for a sensible investment approach." -- Patrick Brunet, Library Journal

The name Ben Stein is synonymous with intelligence and money. Teamed with investment advisor and psychologist Phil DeMuth, they examine a century of stock market data to discover a pro­found and original investment truth: Yes, You Can Time the Market!

The bubble is over. Going forward, investors are going to have to be much more careful about how and when they step into the stock market to make money. An instant investment classic, Yes, You Can Time the Market shows investors simple, readily available measurements to tell them when it's time for stocks, and when it might he time for bonds, real estate, or cash. The book doesn't pretend to tell you when to buy day-by-day for quick trading profits. But it does offer a set of reliable signals for the prudent, long-term investor to get in or stay out of the market for the best long-term rewards. An investor who followed their guidelines would have bought stocks in fifteen out of fifteen of the best long-term years to invest since 1926, while sidestepping the worst fifteen years. Written for the investor who wants to preserve capital and build wealth steadily, Yes, You Can Time the Market is prudent, bedrock advice for the man, woman, or family who can no longer afford to play games with their money.

About the Authors:

Ben Stein, host of Comedy Central's Emmy Award-winning show Win Ben Stein's Money, is a Renaissance man for the new millennium. From the nation's capital to the California coast, Stein has successfully balanced a professional life that encompasses his many interests, including academics, writ­ing, and entertaining. Stein has also enjoyed a career as a writer of novels, essays, and online columns. He has written for numerous publications including The Wall Street Journal, Barron's. Los Angeles Magazine, New York Magazine, The Washington Post, and E! Online. He can be seen on Fox most Saturdays on Cavuto on Business.

Phil DeMuth, Ph.D., is president of Conservative Wealth Management in Los Angeles, a registered investment advisor to high-net-worth individuals and their families. Phil was the valedictorian of his class at the University of California at Santa Barbara in 1972, then took his master's in communications and Ph.D. in clinical psychology. Both a psychologist and registered investment advisor, Phil has written for The Wall Street Journal, Barron's, the Louis Rukeyser Newsletter, and forbes.com as well as Human Behavior and Psychology Today. His opinions have been quoted in The New York Times, theStreet.com, On Wall Street, and Fortune magazine, and he has been profiled in Research Magazine and seen on Forbes on Fox and Wall Street Week with Fortune.

Errata:

Many thanks to our alert readers who have pointed out the following:

Page 25: "1,443 percent return" should be "1,433 percent return"

Page 75, Figure 5.2: The y-axis should read 0, 0.5, 1, 1.5, 2, 2.5, 3.

Page 93: The 'AAA' bonds are Moody's long-term corporate bond averages, not 10-year 'AAA' bonds.

Page 108, Figure 7.3: A printer's error put the wrong graph as Figure 7.3. The text on page 110 is correct. Here is the real Figure 7.3:

 

Page 130, Figure 7.18: The Market Timer's and Non-Market Timer's label on the graph is reversed. The description in the text above the graph is correct.

Page 141: The exclusion from capital gains taxes paid on the first million dollars profit on your primary residence of two years is limited to $250,000 per person.

Page 149: "their analyzes" should be "their analyses"

Page 155: "long run that buying" should be "long run than buying"

Page 169, reads better as:

"A look at stock earnings and prices after the vast collapse of 1929-1933 until early 2000 (Figures 9.2, 9.3) shows impressively angled lines trending upward with a few very temporary but occasionally very sharp dips."

Page 176, punctuation corrected:

"The equity risk premium has come off stocks with a vengeance. Still, even after the crash of 2000-2002, because of excess optimism, or 'irrational exuberance,' or animal spirits, or just plain old ignorance, while earnings fell dramatically, proving vividly that there should indeed be a major risk premium in stocks, stock prices did not fall anywhere near as far or as fast."