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The #1 Forex Course
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Lessons from the Greatest Stock Traders of All Time! |
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Lessons from the Greatest Stock Traders of All Time!
Bernard Baruch--The intelligent, sophisticated financier whose
trading success earned him great riches and entry into
successful financial dealings.
He believed that it doesn't really matter how high your IQ might
be or what status you might have attained in some other
profession, the market reacts indifferently to participants and
doesn't really care who you might be as an individual.
His views on determining the reasons why so many people lose
money in the market is that they think they can make money by
not working for it. He believed that most people view the market
as the place where the miracle of great and quick riches can be
performed with little effort. However, he proved that the market
is not a place to expect riches |
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without the required sacrifice
that the market demands.
Baruch believed that you simply must get the facts of a
situation before you act and commit hard-earned money to a
transaction.
Baruch did not believe that one needed to diversify too much,
but that it was better to have a few stocks and to watch them
carefully. He thought that one could simply not know all the
relevant facts concerning too many stocks at one time. Focus
was also a key skill he discovered that led to his success in
the market.
He found through his years of trading that the two main mistakes
that contributed to his early losses were the same mistakes he
believed that most investors make, which were:
* They know too little about the company's management,
earnings, prospects, and possibility for future |
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growth.
* They tend to trade beyond their financial capital capacity.
Baruch was more of a fundamentalist type of trader than a
technical trader. In evaluating the fundamentals and general
qualities of a company, he would look at three main areas:
* The real assets of the company. Its cash and properties.
* That it must perform or produce something that is needed.
* That it must have good management.
His rules were to sell the stocks on the way up, and if the
stock was declining, he would quickly sell and realize his loss.
Visit: two leading stock picking services
http://stockadvisorgroup.com and http://stockpicksguaranteed.com
for stock picks and more trading tips.
About the author:
None
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