This was a really great read!
I have had this book hanging around for well over a year now but for some reason, I was compelled to pick it up and read it the other day - I thought it would be a bit dry and boring like Reminiscences of a Stock Operator could be at times but how wrong I was!
This was a rip-roaring read! And actually a very short book too - about two-fifths of the book is appendix, Q&A letters, charts and stocks picked.
Although the events took place in the 1950s, as a new trader I found the lessons really useful. The biggest lesson I took away, was simplicity - Darvas traded by feel; he would receive telegrams as he traveled the world with minimal information in them. Through this method, he learned to 'feel' the stock price, just as Lefèvre does in 'Rem of a Stock Op' with the ticker tape... In the story, it is only after his first half-million that he gets all cocky and goes back to NY to trade on Wall Street - almost immediately he loses his edge, starts listening to gossip, rumours and tips and forgets all his own rules and lessons.
This made me realize for myself - with all this 'stuff' we have now - DVDs, books, Twitter feeds, blogs, news channels, radio, spam, pumps, forums, newsletters etc etc etc... we are bound to become confused and overwhelmed!
If Darvas could simplify it, so can we - pick a few stocks with massive potential and get a feel for them. Stick to one method, get an instinct for it instead of jumping from method to method, guru to guru - all the lessons we need can be acquired by asking ourselves the questions we need to ask ourselves, in a timely fashion....
I recommend this as one of the essential books to read for new traders/investors.
This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
1 of 1 people have found this review helpful.
Was this review helpful?