These days, most investors may feel like they�"re playing with a �Syo-yo⬝ market⬔up one day and down the next. In light of the unprecedented degree of volatility, knowledge of basic technical analysis has never been more important. While professional investors have been using this valuable technique to chart patterns for years, individual investors have not been able to make the most of technical analysis to better analyze and calculate security prices. For today�"s investor, an understanding of technical analysis can mean the difference between substantial gains and second-rate returns. With Understanding Technical Analysis, author Charles Kaplan shows individual investors how they can reap the benefits of technical analysis. This valuable guide demystifies the art of technical analysis for investors, introducing them to trendlines and channels, chart patterns, key indicators, and much more. Breaking down difficult concepts into an easy-to-understand and easy-to-implement format, the author takes the reader step-by-step through the process of analyzing a security and making buy, sell, or stay-out decisions.
Over a decade ago, Kaplan and Norton struck a business consulting gold mine with the Balanced Scorecard (later turned into an eponymous book), which permits executives to list their targets for various "measures," i.e., the numbers they'd like to hit on various performance goals. Building off that earlier success, they introduce the strategy map, a flow chart to help businesses figure out who needs to do what by offering a "holistic perspective" on the individual goals of each department and how they interact with one another. Kaplan and Norton are gung-ho about the power of strategy maps to provide a conceptual framework for understanding any corporation, public institution or nonprofit organization, but general readers are likely to shake their head at jargon-heavy reformulations of the obvious like "the ideal customer experience is a product that meets customer specifications and is suitable for immediate use by the customer." And though the book is laden with case studies, it doesn't even begin to scratch the surface of their interesting stories. When one reads about the Royal Canadian Mounted Police, for example, one expects a more engaging outcome than "a significant breakthrough in how strategy maps are designed and used in large, matrixed public-sector institutions." Similar missed narrative opportunities involving outfits like the U.S. Army and the Boston Lyric Opera may keep even readers with strong business backgrounds from appreciating the full potential of the strategy map by focusing on those maps at the expense of the territory they were developed to represent. (Feb. 2) (c) Copyright PWxyz, LLC. All rights reserved
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Harvard Business Press
January 31, 2004
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