Reading is key to knowledge…

28 Mar

It’s been a while since I picked up a book to read.  I went to the library a couple of weeks ago and put a hold request for How I Made $2,000,000 in the Stock Market- By Nicolas Darvas.

I just started reading his story.  This was set in the 1950s.  It doesn’t really relate to the current market where we have a wealth of information, but it explains how he turned $25,000 into $2 million in just 18 months during the bull market and his obsession with the stock market.  To me that’s very inspiring.  He had very little knowledge and was gambling in penny stocks at the beginning in the Canadian stock exchange.  Without much success he eventually moved to the New York stock exchange where he took out margin to buy his stocks.  It seems like he wasn’t very successful in the beginning.  Trading a lot, but commissions were eaten up by his broker who charges $100/trade. 

I’m very surprised he was very detailed in all his trades.  It’s like he kept track of them in a diary.  Anyways, I’m in the fourth chapter.  It’s an easy read and I’m very close to finding out his box method.

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