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"Finding Alpha" By Eric Falkenstein (1 May 2012)

As an eclectic dividend investor (footnote 2) I'd like to know as much as possible about stocks and read a lot of financial books and papers (as much as I can do in my spare time as my SA "photo" indicates). I try to avoid second-hand information that often biased because we see that we want to see and usually neglect any promotional literature. Unfortunately many financial books contain only rephrasing of well known information from other books plus hidden or open promotion of author service (e.g., "scientific" asset allocation) or specific product (e.g., ETFs). Even books written by financial academics are often biased and incomplete. There are not too many terrific financial books and one of them just came to my hands.

Eric Falkenstein wrote terrible (in English, style and editors job) but at the same time perfect (in analysis) book "Finding Alpha: The Search for Alpha When Risk and Return Break Down" each serious investor must read. I'm so sorry that I missed it than it was published in 2009. I feel that finance is fishy and if I were a financial academic I would conduct similar study, but am not and don't have the resources. I should note that Eric Falkenstein assessment of physics is not always correct but nevertheless this book protect you from brainwashing machine of most financial publications and ETF (and other products) sellers.

There are few good reviews of the book made (at, SA /esp. David Merkel review/ and other WWW sites) so I'd not write another review. I think this book open eyes of many investors, market and finance students.