"Studies in Tape Reading" Still Relevant in Today's Market

"One cannot become a Tape Reader by giving the ticker absent treatment; nor by running into his broker's office after lunch, or seeing "how the market closed" from his evening newspaper.... He should spend twenty-seven hours a week at the ticker, and many more hours away from it studying his mistakes and finding the "why" of his losses." - from Studies in Tape Reading

This fabulous classic was recently referenced and quoted Wyckoff on a well-known trading blog, thedangerpoint.com, saying "to understand the present, we need to understand the past: especially with stock market activity."

A 1910 classic of technical stock-market analysis, this is considered the most important work of one of the great market watchers of the early 20th century. It covers: stop orders and trading rules, volumes and their significance, market technique, "dull markets" and their opportunities, and much more. Nearly a century later, this primer on the basic laws of the market is still an invaluable resource for the broker or serious individual trader. 

About the Author

Richard D. Wyckoff (aka Rollo Tape) was publisher of Ticker Magazine, later known as The Magazine of Wall Street.

Co-founder of Women's World Banking, Michaela Walsh on "Is Risk-taking Only Bad Banking When Done by Women?"

"Michaela Walsh (co-founder of Women's World Banking and author of the upcoming Cosimo book "Founding a Movement, Women's World Banking,1975–1990" -  which tells the story about the founding of this micro-finance institution for women), wrote together with Nancy Carson in a letter to the Financial Times their response to an article published earlier in the FT, "Women bankers linked to rise in risk-taking". That latter article presents a report by the German Bundesbank that claims a link between the more women are represented on a bank board, the riskier the decisions of the bank. Based on Ms. Walsh's extensive experience working with women and finance around the world, she counters this narrow finding by stating her point of view:

"This characterisation appears to be yet another argument against women as full participants in today’s economy." Then she and ms. Carson point out a McKinsey study that found that boards with mixed boards had 56% higher operating profits, and continue to say that during their 15 years leading the Women’s World Banking movement around the globe, they learnt that "...Women are business people. Some take risks, others do not. Some succeed, others do not." Finally, they state that the low participation rate of women on bank and other boards is not strengthening the economy, but a denial of talent and resources. It will be interesting to see how this discussion will develop further as more women will be gaining professional and executive roles in banking and business.

Check the article out on the Financial Times Website.