How to Make Money in Stocks by William J. O'Neil

Author:William J. O'Neil
Language: eng
Format: mobi, epub, pdf
Publisher: McGraw-Hill
Published: 2009-04-21T23:00:00+00:00

John Wooden, the great UCLA basketball coach, used to tell his players, “It’s what you learn after you know it all that counts.” Well, one know-it-all investor wrote and told us that we obviously didn’t know what we were talking about, that no knowledgeable person would ever sell a stock short seven months after it had topped. Few people understand this, and most short sellers lose money because of premature, faulty, or overly obvious timing. Lucent at point 4 was in its eighth month and fell 89%. Yahoo! was in its eighth month after it had clearly topped, and it then fell 87%. Big egos in the stock market are very dangerous … because they lead you to think you know what you’re doing. The smarter you are, the more losses ego can create. Humility and respect for the market are more valuable traits.

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