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MARKET COMMENT
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With the FTSE 100 down over 20%, it's been another tough year for the stock market. If you've suffered heavy losses, what better way to brush up on your stock picking skills than reading the wisdom of a few market gurus over Christmas? Top of everybody's book list should be The Essays Of Warren Buffett. Eloquently distilled from his Shareholders' Letters, there's no better way to discover how Mr Buffett amassed a $30b stock market fortune. Another must-read for long-term investors is Common Stocks and Uncommon Profits, by Philip Fisher. His reputation for riding great tech stocks of the past will undoubtedly teach many in today's market a thing or two. With traditional buy-and-hold shares still in the doldrums, the past year has seen short-term trading gain in popularity. For those wanting a good primer on technical analysis and trading, Alpesh Patel's Trading Online is certainly worth a read. Stephen Eckett on Online Investing -- 200 essential Q&As for the Internet investor -- is another goldmine for novice traders. In terms of developing a trading strategy though, Jack Schwager's classic Market Wizards is difficult to beat. Among many other topics, readers will discover "what mental disciplines, what emotional responses, what intangible ingredients make top traders so mysteriously effective". For those who have already joined the trend towards charting, How I Trade For A Living and Marc Rivalland on Swing Trading should keep you busy when the market is shut for the festivities. This year also showed that bad boys still operate in the financial markets. Sad to say, but Ken Lay (Enron) and Bernie Ebbers (WorldCom) are the latest in a long line of stock market charlatans. Highlighting how greed can often overtake ethics, The Predator's Ball recounts 'Junk Bond King' Michael Milken's fall from the grace. And who can forget the original Rogue Trader, Watford wheeler-dealer Nick Leeson, and his sorry tale? Finally, for those who prefer slightly easier reading during the break, Extraordinary Popular Delusions and the Madness of Crowds and 500 of the Most Witty, Acerbic and Erudite Things Ever Said About Money are great alternatives to The Great Escape. (All the books mentioned in this feature can be bought via Global Investor. Fools can save money by buying 'by the bundle': Classics | Novice Trader | Advanced Trader | Rogues Gallery | Stocking Fillers) More: Buy Good Books | Books About Investing