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How to Make Money in Stocks

How to Make Money in Stocks

How to Make Money in Stocks

McGraw-Hill, 1995, 2nd, Fine., Bright, clean, tight. Second edition. Short crease in bottom edge of rear cover. [Stock Market, Investing] Out-of-print and antiquarian booksellers since 1933. We pack and ship with care.

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  • Edmund P. Leigh
    Reply
    282 of 301 people found the following review helpful
    5.0 out of 5 stars
    William O’Neil Shows the Way to Gain Wealth Systematically, June 23, 2009
    By 
    Edmund P. Leigh (Warner Robins, GA) –

    Verified Purchase(What’s this?)

    William O’Neil the author has just published his magnum opus and its a wonderful book to show the small investor how to attain wealth in an effective and systematic fashion.

    This book is a guide to understand how the Stock Market really works. William O’Neil perfected his CAN-SLIM method in the 1960’s to make himself a multi-millionaire. He felt that his investment system was something most people could learn so he launched a newspaper in 1984 called Investment Business Daily (IBD) to teach small investors how to invest well and increase their net worth significantly.

    During the go-go Bull market years of the 1990’s IBD reached a subscription level of over 300,000 subscribers and competed head-on the the venerable and established Wall Street Journal (WSJ). I am convinced IBD is the superior newspaper because it specifically teaches the small investor how to outperform Mutual Funds by using the small investor’s main advantage – the ability to get in and out of the market quickly. This advantage when properly used allows the small investor to avoid the major damage of a huge Bear market downturn such as in the case of 2001-2002 and also in 2008. Mutual Funds being so heavily invested with billions of dollars of stocks are not so nimble; consequently they usually take heavy losses during large market downturns such as in 2008.

    His system is called CAN-SLIM. It is a complex set of rules; so allow yourself two years to learn the basics. You will have to master the reading of technical charts and understand fundamentals of various companies. You need to understand concepts such as Sales, Earnings, Return on Equity (ROE) , how Mutual Funds operate, accumulations, distributions, relative price strength (RPS), cups and handles, breakouts, 50-day moving averages, base failures, puts, calls, pivot points, double bottoms, growth stocks vs value stocks, accumulation days etc. Understanding these concepts is not for the faint hearted; there is a lot to learn.

    O’Neil will show you the way with his book. Unfortunately the rules are very, very counter-intuitive and contrary to so called “conventional investment wisdom” and what most investment pundits advise. It will probably go against everything you have been taught in life. That is why most people have difficulty applying CAN-SLIM methods because it is so counter-intuitive. For example: What really works well is to buy high and sell higher. We are conditioned to buy low and sell high. This latter approach is not effective in the stock market but most people buy in the “conventional wisdom” manner and in many cases get clobbered. 98 % of individual investors buy stocks this way and it is not effective. You also need to know when the Bear Market is coming so you can exit and go to cash for safety. IBD provides the early warning indicators when the Bear is near.

    There is much to learn in order to win against the Stock Market and how it really works. But it can be done ! To do so you need to be a hard worker and be able to learn from your mistakes. Learning CAN-SLIM is similar to learning upper-level math courses such as statistics. There are no royal roads or shortcuts in learning and applying CAN-SLIM rules. It is not an easy subject to learn. You should also have access to the Enhanced Daily Graphs to see both the Fundamental and Technical Analysis displayed on one page. You will need these tools to win this financial war; these tools provide the key financial intelligence to let you know what is really occurring in the world of the stock market.

    I also recommend you keeping notes in a journal of some type. This will help you to learn the skills needed. You must also develop a skill in reading the charts to understand the psychology of what is happening in the market place. There are about 100 charts of past winners to study which provide the guide for picking future stock winners if you are able to recognize the patterns. If you can read the past history well you can predict the future. It will appear like you are looking at Latin and Greek symbols at first and will seem unintelligible for awhile but after much practice you will readily start seeing patterns. These patterns provide the entry and exits points for effective stock buys.

    Why is learning this method so hard ? Here are some of the key CAN-SLIM rules that must be mastered if you do not want to financially hurt by the Stock Market:

    1) Buy stocks above $ 20 per share at the optimum pivot point in a buying surge during a strong Bull Market and sell at a higher price.
    2) Always cut your losses at 7 – 8 % when buying.(Most important rule).
    3) If initially successful; pyramid your buying up.
    4) Stay in cash during a Bear Market.
    5) Never argue with the Stock Market; it is always right.
    6) Concentrate your stock buying and watch your stocks closely.
    7) Do not over…

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  • Tony Ursillo
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    140 of 152 people found the following review helpful
    4.0 out of 5 stars
    Somewhat idealistic, but lots of good tools, March 23, 2002
    By 
    Tony Ursillo (Norwood, MA USA) –

    I read this book about 10 years ago and generally gained a greater appreciation for buying healthy stocks. Make no mistake – this is a momentum strategy. But O’Neil has created a very specific formula and process for his style of momentum investing. I also learned a lot about technical analysis and some of the other elements that affect stock movements (sentiment, market psychology, etc.). And O’Neil spends a good deal of time telling you how to sell a stock, whether at a profit or a loss. I think this is perhaps the hardest part of investing, but after reading this book, you should have no excuse for letting a huge gain slip away or digging a huge hole for yourself. Above all, the book provides dozens of examples to support many of the techniques advocated in the book. One gripe I have is that when it comes to finding certain patterns in charts (head and shoulders, cup with handle, etc.), beauty can be in the eye of the investor – I wasn’t always comfortable with what qualified as an acceptable pattern, and, of course, these “iffy” charts all demonstrate money-making stocks AFTER the fact. I also believe that there are other investment approaches that can yield good results, especially in a trending market like we have found ourselves in more recently. But on the whole, this book provides a wealth of information in a concise, well-supported manner. It definitely belongs in your investment library. A bonus is that the newspaper O’Neil founded, Investor’s Business Daily, can provide an ongoing educational follow up to the book, so the approach you learn in the book will never become outdated. I read it regularly.

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