Deleteyourbroker.com: Using the Internet to Beat the Pros on Wall Street

Christopher Byron, a financial writer and columnist for 30 years, says that nothing during that time has leveled the playing field between Wall Street and Main Street like the Internet. In Deleteyourbroker.com, he proposes specific ways for investors--beginning or otherwise--to use this tool to their advantage. In a manner that everyone should find accessible, thanks to Byron's conversational tone and the clear descriptions provided for all concepts and activities, he explores everything from the basics of asset allocation to the nuances of technical versus fundamental analysis. The key, along with the succinct explanations and advice, is his related pointers toward Web sites offering data to average investors that previously was available only to financial professionals. In a chapter called "Earnings: The Holy Grail of Fundamental Analysis," for example, he explains why it may be critical to decide whether a company is over- or under-priced in relation to its peers and future earnings potential. He then shows how to find and use Web sites such as Value Wizard, MoneyCentral, and Global Financial Data to obtain the information to make such determinations. While some of the specific sites may go out of date, Byron's explanations (and suggestions for finding similar information) should prove helpful for years to come. --Howard Rothman