By Michael Sincere
Suggestion: learn Michael Sincere's most recent publication: All approximately marketplace signs (McGraw-Hill, 2011), or figuring out shares (McGraw-Hill, 2003).
Read Online or Download 101 Investment Lessons from the Wizards of Wall Street: The Pros' Secrets for Running With the Bulls Without Losing Your Shirt PDF
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Additional info for 101 Investment Lessons from the Wizards of Wall Street: The Pros' Secrets for Running With the Bulls Without Losing Your Shirt
During his years with the family bank, Berger remembers there was a tradition of recommending 50-percent bonds and 50-percent stocks. "I fought that tradition tooth and nail for many years, getting people to go up to 70 and 80 percent in common stocks. For the first time in years, however, Berger believes that it might be the time to think about the steady return of long-term government bonds. " <><><><><><><><><><><><> Page 62 20. Don't Be Too Conservative One of the reasons investors are too conservative with their investments is they're afraid to lose money.
O'Neil admits that all his reading was worth it, especially books written by professional traders Gerald Loeb and Jesse Livermore. In fact, he attributes much of his success to the books he read because they helped him to develop the framework for many of his strategies. "I bought all the market leaders and thought I was doing pretty well. By the end of the year, though, I determined that I'd actually only broken even. " Page 71 To address this problem, O'Neil developed a set of selling rules.
The third way to value a business, according to Hawkins, is to look at what comparable companies have sold for. To this end, he and his colleagues maintain an extensive database, which contains comparable sales transactions for the industries they follow. In addition, Hawkins and his analysts strongly believe in doing all their own research and analysis. "The seven financial analysts that we have are the foundation of our company," he stresses. Besides looking for undervalued stocks, Hawkins says it's important to learn as much as possible about the company and its management.