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hey livermore, i like the ten traits you posted up. thanks for taking the time to post that!
agree with the point that it takes a mix of both value and growth investing. must disagree with the point about no non-professional value investors making it big though. they do; i know some personally. just that, as victorian says, they tend to be quiet ones, which follows their personality, really, like the picking of undervalued (ie, unnoticed and quiet) stocks etc.
I just finished this book on 24 Essential Lessons for Investment Success. Here is a small section on "What are the ten traits of successful people"
1. Positive thinking.
Almost without exception, successful people think
positively. They think success, not failure. They
are able to be positive regardless of how
difficult the situation, which allows them to
rebound from obstacles
and problems. Their attitudes determine their
fates.
2. Leaders make conscious decisions regarding what
they are after, what they want.
Then they draw out specific plans to reach their
goals. When Muhammad Ali was 13 and weighed only
115 pounds, he made up his mind that his one and
only goal was to be heavyweight champion of the
world.
3. Goals are nothing without action.
We found that leaders and successful individuals
are very action-oriented. They are always on the
move.
4. Successful people never stop learning.
They read books, get extra training to acquire
skills and seek out mentors
5. Without a doubt, success is a result of being
persistent and working hard.
Leaders treat success as a marathon, not a sprint.
They don't let themselves get discouraged and they
never give up. The Beatles were turned down by
every record company in England before their
success. Michael Jordan was cut from his high
school varsity basketball team.
Albert Einstein made an "F" in Maths. Thomas
Edison once said,"Many of life's failure are
people who didn't realise how close they were to
success when they gave up."
6. Successful people learn to analyse details and
seek out all the facts.
Sucessful people put ego aside to carefully learn
from their mistakes in order to improve.
7. Focussing time and money is another key
characteristic of success.
Learning to save money and focussing time showed
up again and again. Successful people don't let
other people or things distract them from their
goals
8. Success often means doing something differently,
being innovative.
9. Sucessful people deal and communicate with
others effectively
10. Long term sucess comes from integrity.
Those researched were honest, dependable, and
took responsibility. Without this final trait,
number 1 through 9 won't matter.
As I said before, this market is not for those who are having a faint heart, market up, he worries, market down, he also worries .... :P
.
I am reading this book "24 Essential Lessons for Investment Success." There is a section which explains about growth vs value investing. Here is what the author says.
"Broadly speaking, there are two types of investors : growth stock investors and value investors.
Growth stock investors seek companies that show consistent earnings and sales growth, usually 20% or more each year for the past 3 or 5 years. The growth stock generates a return on equity of at least 17% to 50%. Normally the P/E ratio is higher.
Value investors, on the other hand, search for stock they believe are undervalued, These investors evaluate a company's balance sheet and profit and loss statement, looking for hidden value. They are looking for bargins and like to buy stocks with a low P/E ratio or a low price to book value. Value investors have to wait for the market to hopefully recognize their stock's value for it to go up in pirce. This usually takes a longer amount of time and sometimes it does not happen at all.
In all my years in the business and knowing thousands of investors, I have never known a non professional who produced really outstanding results using the value method. I do know dozens of ourstanding growth investors whi averaged 25% to 50% or more a year."
I think a mixture of both growth and value investing is the best i.e you look for stocks that are cheap and also with growth potential. Remember once again, that buying a stock is not just about looking at what is its 52 week high price and what is its 52 week low price before you buy. Some stock may have a low price compared to their 52 week high but I will not buy if it has no growth potential. On the hand , a stock may be not far from its 52 week high, but I would still consider buying.
Below is a paragraph from the book :
"Let's stop and think about this concept for a moment. The idea of buying a stock at the highest price it has ever sold for just as it is coming out of a correct basing area seems ludicrous. After all, most of us were raised with the idea of getting a deal, a bargain. I am here to shatter a common and comfortable misconeption. What applies to buying merchandise on sale at a department store works in the completely opposite way when dealing with stocks, Do you want stocks that have the greatest potential for moving even higher? Then you have got to ignore the errorneous old saying,"buy low and sell high," and replace it with buy high and sell a lot higher."
Yup, the "ang moh" banks have come in fast to chiong the market like now .... and they will exit faster too to cash their quick profits! Trade with care ya!
Too fast, too furious. Irrational sentiment and psychological play the "leading actors/actresses" liao. Some people said Budget Day counters will fall as good news oreadi "factored" in liao. Some will said it will rise beyond Budget Day as a lot of "eligible" people receiving the Govenrment pay-out for the GST thingie will roll their $$ into the market although it might be not much. Now I am armed with my GA suit, with a contrarian mode. Hopefully, more "ang-moh" banks will come and fry those counters.. TA/FA at this moment is not appropriate.
But my guess for now is if there gonna be a correction, it will gonna be too fast too furious 2... So made as much as one can before that fateful dive.
Yup. I agree ..... Correction & a Huge one too looming! Exit before Budget day 15th Feb!
what if US side have some good gain tonite.... will it happen on MOndays?
Volume traded is around 2 billion lots today. While that is pretty high, it isn't extraordinarily so.
Do expect a correction next Monday.
Do expect a correction next Monday.
time to sell some of the holdings.. sell in bull .. no point wait and see ur profit eroded in days...
Asia region index are in parallel man.. Mumbai Sensex all time high now as well... hope it can closed at all time high~~
Yes.... very true...
Jesse Livermore's story is the whole story of a stock market player...
which shows that fortunes can be made and also lost.
yah agree that jesse livermore is not a good way to follow. can try but dun put ur whole portfolio on it.
Jesse Livermore finally lost his fortune in the prolonged great depression and could not make a come back.
He committed suicide in 1940-read his biography before you read his trading strategies
For the convenience of those who desire to inspire themselves through this great stock market genius, Jesse Livermore's books are all listed at my Amazon link below:-
Jesse Livermore :
Books By and About This Great Man
Learn fm jesse livermore how he profited 100m in 1929 crash
A sane person will not follow the insanity of crowds but history shows that this is not the case.
Isaac Newton participated in the south sea bubble.
Winston Churchill also was badly hurt in the 1929 crash.
Follow the madness of crowds but keep your sanity?
My take on the STI high will be 3300 pts then follow by some consolidation....... before it can move to 4000pts ..... Don?t ask me on the time frame....
But 3300 is achievable? since we have CNY around the corner maybe Budget Day will help too?
STI target revised.Now 3200+
18th fibonacci number is 2584-far exceeded.
19th fibonacci number is 4181-akan datang
If properties can reach 4000 per square feet why not the STI.
Their's not to reason why
Their's but to close their eyes and buy-apologies to Tennyson.
STI: 3,200.87 +32.77 at 0946
Wahoo!!! breached 3200