The Buffett System - Book Review

The Buffett System

The Buffett system is developed to show exactly how Warren Buffett invests. This man is an investor who has gained the respect and awe of the entire investment community with his soldier like discipline, rocketing success and his constant battle with Bill Gates as the richest man in the world.

The Introduction of this book boasts that it is a "step-by-step guide - complete with a worksheet to assist you" which will show you "exactly how to invest like Warren Buffett… RIGHT NOW!" This sets high expectations from the start, but it does exactly what it says on the tin. It does focus on the US with American sites to get info. However, the actual system could be replicated on any market in the
world.

The book starts off with some concepts including visualising your stocks as companies, not just symbols and prices, diversification and your company's "moat" as well as the three biggest mistakes investors make. There were a number of "value screeners" offered so as to find a place to start. This is extremely important as a journey is difficult to end if there is no starting point.

"Crunching the Numbers" covered the actual roadmap of picking out the important numbers lending to fundamental analysis and processing them. This was the part that really did it for me. There absolute clarity as to where to find these crucial "numbers". Due to the importance of this section, several screen shots are included to hold your hand completely through sifting your way to find the information required.



"Valuation " summed up the preceding chapters and led us right to the decision of whether or not to invest with some minor computations, with the aid of a particular online calculator designed to facilitate us.

With reference to selling, I quote "we won't be offering any vague advice here" and it's true - the book gives another simple process to make it possible for you to decide whether to hold or sell. The book finishes with some appendices i.e. a worksheet which provides the template for one's investments, suggested reading etc.

For the advanced investor, I would suggest writing far out of the money calls to increase your income and perhaps do better than the Buffett System.

Overall, I found this an excellent book and would highly recommend it to either a novice or experienced seeking a worthwhile, profitable system for picking out stocks to include in your portfolio.

The team at stockmarketsuccessonline.com are dedicated to spreading the word about how the greatest investor in the world chooses his stocks - this great man deserves a legacy! If you would like to learn more about the book, you can do so at www.stockmarketsuccessonline.com.


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Starting Basic Accounts Bookkeeping Saves Self Assessment Tax

The financial benefits of preparing basic accounts bookkeeping records and producing the self assessment tax return can be overlooked. Starting bookkeeping at home is an option for anyone self employed and is important as the self assessment tax paid each year is typically the highest financial outgoing. Bookkeeping home accounts is worth the effort and does not require a high level of technical accounting or tax knowledge.

Sole Trader Basic Accounts Bookkeeping

Sole trader basic accounts require the simplest form of bookkeeping. Sole trader basic accounts bookkeeping require little more than retaining supporting documents of sales income and expenses and creating two lists of financial transactions. Producing the basic accounts in the format of an income and expenditure statement is sufficient to complete the self assessment tax forms.

An income and expenditure statement is the total sales made during the financial year with the expenses listed by type of expense and deducted to leave the balance as the net taxable profit or loss.

Starting Bookkeeping Home Accounts

The first stage in starting bookkeeping is to collect together all documentary records of receipts or sales received. Review the documents and if incomplete use other sources of third party evidence such as bank statements and deposits t achieve an accurate total.

Stage two to producing the home accounts is a similar process of collecting together the supporting evidence of purchases made and expenses incurred. Again if incomplete examine other potential sources of evidence such as bank and credit card accounts.

Bookkeeping home accounts is just that, keeping books at home which is the home accounts. Bookkeeping is a function that many self employed business people can benefit from financially.

Basic Accounts Bookkeeping Can Save Accountant Fees

A significant proportion of a bookkeepers fee or the accountant fees for small business is the sorting of receipts and listing them in order, in effect doing the basic accounts bookkeeping. Accountant fees are better spent on financial advice and tax matters than producing the basic accounts themselves.

The basic bookkeeping task of sorting the sales and purchases documents can produce real savings in the accountant fees. Most accountancy firms would actually prefer to receive their client records in a basic accounts presentation to enable the accountant provides a higher level of accountancy services.

Save Self Assessment Tax by Understanding Basic Accounts

When a sole trader adopts a positive attitude in preparing the bookkeeping basic accounts other benefits accrue. Preparing the basic accounts increases the perception of profitability and may encourage the small business owner to prepare the bookkeeping more often. By being aware of profitability financial problems may be noticed earlier and low profits will stimulate the competitive nature of sole traders and self employed businesses to improve the financial performance.

The self assessment tax liability for self employed people is a major annual issue. Understanding the basic accounts will pose tax questions in regard to capital allowances which need to be claimed in the self assessment tax return. The increase in tax knowledge should maximise tax allowance claims thereby reducing the self assessment tax liability.


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DIY Accounting incorporate tax software in the tax accounting software producing basic self assessment tax returns for self employed business which include an income and expenditure account in the sole trader basic accounts

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Thomas Eliot

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Starting in emini futures trading - ES or YM or perhaps something else

Emini futures contracts have become a trading instrument of choice for many traders, especially day traders. The field that barely existed only 10 years ago is now booming with new traders joining the older ones every day. With many brokers, their numbers growing as well, dedicated primarily to serving this class of traders, this trend is likely to continue.

Emini, interchangeably called e-mini, futures are smaller contracts of more established pit-traded futures. Their smaller size means that their margins are smaller too, which obviously appeals to many retail traders, folks who can spend only a few thousands or so dollars for this business. This is what the mini aspect of these contracts is about. Moreover, unlike their grown-up brethren, e-mini futures have always been traded electronically, which is what "e" in their name stands for. Because of that, they can be relatively easy to trade over the Internet.

A decade or so ago, there was basically only one emini futures contract that one could consider for trading. It was ES, the emini futures contract for Standard&Poor 500. The pit contract for this futures market has been around for much longer and had been well established by then, probably better than a futures contract for any other US stock index market. It was this popularity of the pit contract that made many traders consider its emini version. That's how the trading volume of ES started to grow and today is the biggest among the futures for US stock index markets.

Many new emini traders start their careers with this contract convinced that its dominant volume will help them in trading.

But is it really the best emini futures contract to launch your trading career with? Are there other emini contracts that can be more appropriate for the beginner to this field?

The answer to the first question is: that depends. Before I will elaborate on it, let me first tackle the second question in greater detail.

There are quite a few other emini futures contracts among US stock index futures that attract some attention among day traders. One of such contracts is the emini contract for the Dow Industrials futures, whose symbol is YM. Its ticks are smaller, only $5 per tick, compared to $12.5 for ES. There are also contracts such as NQ or TF, both of which have smaller ticks than ES.

It is because of this smaller tick size that YM can be a better trading vehicle for new traders. The smaller the size the finer your entry can be, which in turn means that you are more likely to squeeze out profits, at least tickwise, not necessarily dollarwise. This and the fact that fills seem to be better, easier to get, than in a very competitive ES, are the main reasons why YM can be a better choice for the first emini market to try your luck in. The same is pretty much true about TF, the emini futures for the Russell 2000 index. It too can be used as your first emini futures contract, its tick size of $10 being only a bit smaller than that of ES, but with pretty good fills, nevertheless.

On the other hand, ES is more dynamic than YM, so you may find out that squeezing out only 3 ES ticks ($37.5) is easier than 5 YM ticks ($25) and for this reason ES can be better than YM, although hardly better than TF.

To summarize, while ES is still the most popular contract among emini futures traders, including the beginners, which guarantees good smooth trading due to the dominant trading volume of this market, it also makes sense to start your emini trading with YM or TF.

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