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learn something new everyday, how a complete nobody made millions of $$$ in stocks

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learn something new everyday, how a complete nobody made millions of $$$ in stocks

Old 07-04-06, 08:39 PM
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learn something new everyday, how a complete nobody made millions of $$$ in stocks

Playboy is having one of it's playmates play stockpicker and she is beating most of the so called experts out there.

And I learned about someone interesting this weekend. Google Darvas or Darvas box to learn more. There is also a book on Amazon.

This guy turned $36,000 into $2 million in 2 years back in the 1950's. His system was simple. Find stocks hitting their 52 week highs and which are trading at their highest levels ever. let them fall for three days and if they break the high on heavy volume, buy. Sell all losers at 5% losses.

What is even more amazing is that he was a dancer and had no background in finance or stocks or anything similar. And back then he had to track everything with a newspaper unlike Yahoo Finance and unlimited portfolios today.
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Old 07-04-06, 08:46 PM
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I guess some people are just fortunate. I guarantee if I did the same thing I'd be in the poor house.
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Old 07-04-06, 08:46 PM
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It's a good strategy, but it involves a lot of luck and the need for a lot of research. Namely, if it really worked flawlessly, there'd be a lot more millionares out there.
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Old 07-04-06, 08:53 PM
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The guy who started either Tempelton or Dreyfus funds used a similar system. Can't remember who it was though. But something like this only individual investors can do. Impossible for anyone who manages money for a living.

And Dravas did lose a lot of money perfecting his system.
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Old 07-04-06, 09:43 PM
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http://www.amazon.com/gp/product/081...376737?ie=UTF8
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Old 07-04-06, 09:52 PM
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Usually people who try to time stocks don't end up doing well(that is, time them in the conventional "buy when they are low" manner). Over the last 7 decades, the stock market in general has gone up an average of 10% per year(when looking per decade).
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Old 07-04-06, 09:56 PM
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Originally Posted by bhk
Usually people who try to time stocks don't end up doing well(that is, time them in the conventional "buy when they are low" manner). Over the last 7 decades, the stock market in general has gone up an average of 10% per year(when looking per decade).
Yeah, I'm not smart enough to get rich quick. I'll try to get rich slow, the dumb person's way.
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Old 07-04-06, 10:49 PM
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Originally Posted by bhk
Usually people who try to time stocks don't end up doing well(that is, time them in the conventional "buy when they are low" manner). Over the last 7 decades, the stock market in general has gone up an average of 10% per year(when looking per decade).
I'm no finance expert, but I think you mean the S&P has gone up an average of 10% per year (and I think it's the last 30 years as well).

If I'm wrong, my portfolio thanks you
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Old 07-04-06, 10:59 PM
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Originally Posted by Bushdog
Yeah, I'm not smart enough to get rich quick. I'll try to get rich slow, the dumb person's way.
Marry into it? That is my method.

-p
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Old 07-05-06, 02:06 AM
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I don't understand why people bother with the stock market, retirement, 401K and IRAs. Don't you know you can make MILLIONS working only 2 hours a day in the confort of your house stuffing envelopes??? Come on pleople, don't you know anything?
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Old 07-05-06, 03:35 AM
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Originally Posted by al_bundy
This guy turned $36,000 into $2 million in 2 years back in the 1950's. His system was simple. Find stocks hitting their 52 week highs and which are trading at their highest levels ever. let them fall for three days and if they break the high on heavy volume, buy. Sell all losers at 5% losses.

What is even more amazing is that he was a dancer and had no background in finance or stocks or anything similar. And back then he had to track everything with a newspaper unlike Yahoo Finance and unlimited portfolios today.
I'm sure that helped him. He didn't have access to Y! Finance, but neither did anyone else. He was watching the stuff while most people would check out out on a lazy Sunday when they couldn't do anything about it.
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