Download How I Made $2,000,000 In The Stock Market eBook
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ISBN 0818403969
Edition Reissue
Pages 197
Publisher L Trade Paper
Author(s) Nicolas Darvas
Release Date February 1, 2001
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Nicolas Darvas wrote "How I Made $2,000,000 in the Stock Market" in 1960, shortly after he had made over $2,000,000 trading stocks in a little over 18 months. But the story starts in 1952, when Darvas, a ballroom dancer by profession, acquired his first stock in a Canadian mining company almost inadvertently. He sold it at a profit, and he was hooked. But Darvas knew nothing about the stock market. He learned everything the hard way, and that's what makes this book interesting. Darvas is a colorful, overbearing, but frank character, and he takes us through his quest to figure out how to make money in the stock market step by painful step. Darvas divides his learning experience into 4 parts. At first he was "The Gambler", acting on tips and impulses. That failed. Then he got serious and became "The Fundamentalist", reading annual reports, listening to analysts, and investing accordingly. That failed. So he became "The Technician", developing his own method of anticipating a rise in stock price, which he called "box theory". He wasn't losing much money, but he wasn't making much either. Finally Darvas devised a method of predicting stock price movement that incorporated all of his hard-learned lessons. He became "The Techno-Fundamentalist". He selected stocks based on earning prospects for their sector, but bought the leaders in their sector only when price movement looked promising according to his box theory. Nicolas Darvas comes to the same conclusions in "How I Made $2,000,000 in the Stock Market" that many other books on trading or short term investment have for nearly a century. He's a short term investor, not a trader, who advises you to: follow the trend in price movement, buy in pyramid fashion, cut losses quickly, never buy on tips or advice, and never try to sell at the top. He may as well be Gerald Loeb or Bernard Baruch in the 1930s. But a few things make this book interesting: Darvas failed a lot while he went through various investment philosophies that many aspiring investors can identify with. He created his "box theory" from scratch, which yields much the same information as tracking support and resistance on a candlestick chart. Best of all, his story is unusually entertaining. Darvas made most of his money while on a 2-year world tour with his dance act. He received stock information daily by telegram, in code, and communicated his orders to his brokers while on the move. His mysterious cables often aroused suspicions of espionage in foreign telegraph offices. I found the whole thing hilarious.
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