Contents

BASICS

Apples and Oranges: Stocks and Bonds

When Things Sour: Risk

Don’t Put All Your Lemons in One Basket: Diversification

The Pulp: Value

MARKETS

Under the Lemon Tree: Stock Markets

Every Last Dangerous Drop: Leverage

Betting on the Bitter: Shorting Stocks

TAXES

The Big Squeeze: Taxes

When Life Gives You Lemons: Municipal Bonds

When Life Gives You More Lemons: Retirement Accounts

ECONOMICS

The Bitter Rind: Inflation

Controlling the Flow: Interest Rates

The Big Lemon: Macro Investment

Worldwide Lemonade: International Investing

OTHER INVESTMENTS

The Fruit Itself: Commodities

The Lemon Grove: Real Estate

Start-Up Stands: Venture Capital

Lemonade.com: Tech Stocks

Lemonade Mix: Funds

REAL WORLD VALUATION

Under the Rind: Price vs. Value

Follow the Juice: Free Cash Flow and Real Money

CONCLUSION

Different Ways to Slice It: Investing vs. Trading

Shrinking Lemons: Investor Psychology

Having Your Profit and Drinking It Too: Final Words