NO BULL INVESTING phần 1 potx

[...]... inflation or political unrest became factors in the U.S and world economies Virtually every day, we would venture to the brokerage office to watch the ticker on their large quotation board We were hypnotized by the tape, watching the numbers change 8 NO BULL INVESTING We cheered mentally with every price change in WRT: WRT 3 1/ 16 3 1/ 8 3 3 /16 We had visions of great wealth Of course, WRT didn’t make... and failures Think about your relationships I will elaborate on this highly important fact of life repeatedly throughout this book For now, take my word that life is full of 12 NO BULL INVESTING patterns, and that if we know the patterns—of life, of investing, and of economics—then we have improved our odds of success substantially Time Is More Important Than Price We are all preoccupied with price We... help anyone achieve the American dream, no matter the level of education, social status, and current profession A FEW OF THE THINGS I LEARNED AND WHY I WANT TO SHARE THEM WITH YOU My experiences have taught me valuable lessons that everyone who wants to achieve financial independence should know and 10 NO BULL INVESTING take to heart Although some of the lessons may not seem especially relevant to you... much better in the United States Although we were not wealthy by any stretch of the imagination, we did manage to buy a home, a car, and other “creature comforts” that made life more livable Getting enough food and clothing was no longer an issue for me And I was no longer afraid of being beaten, tortured, or killed by street gangs I could walk 6 NO BULL INVESTING to school without looking over my shoulder... Although success does indeed depend somewhat on social status, education, political connections, and family wealth, these are not always prerequisites Many self-made millionaires have started with virtually no education, no money, no family influence, no political connections, and no assistance These individuals have made their fortunes based on an idea, on talent, on motivation, on hard work, on persistence,... commodity market by a fast-talking Chicago broker who convinced me to send him $1, 000 For those who don’t remember economic history, $1, 000 in the late 19 60s would be the equivalent of $16 ,000 in the 2000s A new Volks- WA N T TO M A K E M O R E M O N E Y ? D O T H E S E T H I N G S F I R S T 9 wagen Beetle cost about $1, 600 It wasn’t easy for me to part with the money; however, I did so because I was... help you find the means to achieve your goal of wealth if you are one of the millions who were not blessed with unique skills or talents, family money, or political connections Finally, even though there are many avenues for success in a free economy, some methods are more easily implemented than 4 NO BULL INVESTING others Some require less work, and some require less start-up capital Although I will... to questions she asked that were not part of the book she had read WA N T TO M A K E M O R E M O N E Y ? D O T H E S E T H I N G S F I R S T 11 She wrote back, telling me that she was still upset about the errors she found and that she wanted to return the book Rather than thank me even once for the knowledge the book gave her, she was intent on complaining about the $19 .95 she had spent I replied again,... Do you believe that you need a good real estate broker to make money in real estate? The response to most of these questions is No. ” The facts are simple: Ⅲ You don’t need to be like the millions of people who merely get by, living from paycheck to paycheck 1 2 NO BULL INVESTING Ⅲ You don’t need a college degree in finance in order to make money in the stock market; in fact, having such a degree might... right? Hundreds, if not thousands, of investors thought if United Airlines had declined from over $10 0 per share in 19 97 to $20 per share in 2002, that it was dirt cheap At $10 per share it was absurdly cheap At $5 per share it was a steal At under $3 per share, the company was forced to declare bankruptcy Price was unimportant—time was the critical factor Was the time right for investing in United . Investments 10 2 Introducing the Method 10 6 Introducing Momentum 10 9 How to Calculate Momentum 11 1 What Does Momentum Tell Us about a Market? 11 2 Divergence and Changes in Trend 11 3 Timing, Timing,. Opportunities 17 7 What’s Ahead in the Area of Technological Breakthroughs? 17 8 12 . SUMMARY AND FINAL THOUGHTS 18 1 A Perspective on Investor Psychology 18 1 Economic Yin and Yang: Cycles of Boom and Bust 18 7 Markets. Budget 15 7 From $5,000 to $20,000 15 7 More Than $10 ,000 but Less Than $25,000 15 8 More Than $25,000 but Less Than $50,000 15 9 More Than $50,000 15 9 Investing in Precious Metals and Coins 15 9 Protecting